Fed looks set to leave mortgage market; rates could rise

March 9th, 2010

Written by Greg Frost Jr.

Categories: Economy, Mortgage / Credit, Mortgage Banker News

The Federal Reserve has been spending hundreds of billions of dollars on mortgage-backed securities (MBS), but as Adam Quinones of http://www.mortgagenewsdaily.com reports, that appears to be about to end this month. Recent quotes from Chairman Ben Bernanke show no signs that the Fed is reconsidering the conclusion of its buy-up.

As the article notes, “the general ‘up in the air’ condition of Fannie [Mae] and Freddie [Mac] combined with the loss of Federal Reserve MBS funding are expected to push mortgage rates higher.”

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This entry was posted on Tuesday, March 9th, 2010 at 8:03 am and is filed under Economy, Mortgage / Credit, Mortgage Banker News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.