As of today, the treasury has bought about $250 billion in mortgage backed securities under their program that is causing these low interest rates. They just started this about three weeks ago. There was a total of $750 billion allocated for this program, meaning that 1/3rd is already used up just a few weeks into it. Once it is gone rates will rise up again. This means that people have another 6 weeks at this pace before the short is over and rates could rise after that.
Hurry! Take advantage of these low interest rates, decreased cost of properties and still a wide choice of houses on the market!!!
If you need help to find info about a property, email or call me at 703-937-0328.
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