Today, the Wall Street Journal reported that the Fed is rumored to be considering a second round of mortgage buybacks, whereby they would buy billions of mortgages in the secondary market. The last program, which ended in March 2010, had the effect of reducing mortgage rates for consumers to near record lows. When it ended, everyone expected rates to increase, but due to unforseen, unfolding economic factors, rates continued to decline to their current lows, which have not been seen in over 50 years.
Stay tuned to see what rates will do........
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