Mortgage Rates Are Rising

Posted by Jeff on April 2, 2010 under Mortgage Info | Be the First to Comment

The Federal Reserve’s program of buying mortgage backed securities in order to inject liquidity into the market and keep rates low, ended on March 31st. The anticipation of the end and now the actual loss of liquidity has had the expected impact on mortgage rates.

Rates have been climbing steadily since Thursday March 25th and have jumped again today for a total increase in the past week of .25%. That adds up to an increase of about $30 per month on a $200,000 loan. Not the end of the world but probably not the last of the increases to come.