BREAKING NEWS
updated 4 minutes ago
WASHINGTON - The Federal Reserve delivered a vote of confidence in the recovery on Wednesday, saying economic activity is "leveling out." The central bank also signaled that it would soon end one of its programs aimed at propping up the economy.
The Fed said it would gradually slow the pace of its program to buy Treasury securities so that it will shut down at the end of October, versus September. The program is aimed at lowering rates on mortgages and other consumer debt, a move to spur Americans to spend more.
What's Alli's take? Well we are in no way out from under the problems facing our economy. This is not good news for those who are waiting for "rates to drop down to 4%"!!! If the Fed stops the bulk purchase of Mortgage Backed Securities we will see rates on the rise, maybe as early as next month!
Folks, please call me if you are on the fence about refinancing. My promise to you: I am not here as a salesperson but only as an advisor. I'll be the first to tell you if refinancing is not the best option for you right now or of course tell you the benefits of why it is.
Until tomorrow... MortgageAlli's signing off
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