Now is the time to purchase! Don't wait... because I just did a loan for 4.5% on a small $62,500 dollar home. Wow! I wished I was moving so I could get in on this!
The Federal Reserve purchases U.S. Treasury debt each business day. This has kept the demand for U.S. treasuries higher than it would normally be, and as a result, has kept all interest rates lower than normal.
This program is to purchase this notes will be ending in June... the interest rate is bound to go up. So, don't wait to purchase a home for sale. I think 4.5% is the lowest we will see for 2011, for a 30 year, federally backed mortgage.