Medici Development Blog
There is so much that goes into building a new home and creating your new lifestyle, from developing the land, selecting your design and finishes, ordering the materials, managing the construction and financing your new home, plus too many items to list. Medici’s Blog allows it to share it’s wealth of knowledge regarding the many facets of home construction, the real estate industry and living in general.
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MMG Weekly: Fed Chairman Gives Feedback
Posted on October 13th, 2009
I’d like to share an article from our friends at Prime Mortgage that briefly addresses the economy, inflation and the potential for rising interest rates….
“LISTEN TO WHAT THE MAN SAID.”And those aren’t just the words from Paul McCartney’s hit song of the same title…they’re also words of advice for anyone who’s considering buying a home or refinancing. Last week, Federal Reserve Chairman Ben Bernanke said that as the economy heals, the Fed will be very vigilant to protect against inflation. While inflation is not a problem at present…it will most certainly become a problem down the road. So why does this matter if you are considering purchasing or refinancing? Because inflation is the arch-enemy of Bonds and home loan rates, and just the knowledge of it coming has been causing both Bonds and home loan rates to worsen in recent days. Along with the fear of inflation, the Fed’s purchasing program of Mortgage Backed Securities is already slowing down, with the end of their buying in sight – and the reduced demand for these Bonds is also driving home loan rates higher.
Bottom line: home loan rates are already on the rise, and we won’t likely see these low historic levels again.
Interest rates are still very near historic lows – George Washington couldn’t have gotten a better interest rate – and the opportunity these low rates present is huge for homebuyers or people looking to refinance. If we haven’t talked recently about your own home loan situation – or if you have a friend, family member, neighbor or coworker who needs advice – please call or send me an email. There’s no time to waste.
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If you have any questions about current or future interest rates and how the economy and the Feds actions affects those rates, please don’t hesitate to call River’s Edge or call our mortgage experts from Prime Mortgage @ 763-222-1503.
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7 responses to “MMG Weekly: Fed Chairman Gives Feedback”
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Tomoko Hellner
March 14th, 2010 at 08:16
Hey there i liked your blog and just wanted to take 5 mins of my time to say thanks it was just what i was searching for anyway keep up the great work and youll see me soon:D
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Kent Burner
March 14th, 2010 at 08:40
Hey there , i wanted to stop and say thanks for that blog post this is one of the best sites ive found in a long time.
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Lou De Medici
Reply:
July 14th, 2010 at 10:07 amYou are welcome. Let us know if you need anything else. Thanks.
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Sau Cutchember
March 15th, 2010 at 05:09
How can i go to get totally free, neutral home finance loan suggestions? For the most part everywhere on-line is trying to sell us some thing.
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Lou De Medici
Reply:
July 14th, 2010 at 10:10 amPlease give us a call and we will give you unbiased financing suggestions. Everyone’s situation is completely different and everyone has different needs. We can evaluate those needs and find the best solution for you. We may also have you talk with our mortgage professionals. They do a great job and always put the client first.
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Lou De Medici
August 29th, 2010 at 23:13
Sorry you couldn’t get through. Please email me at ldemedici@medicidevelopment.com. Thanks.
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Lou De Medici
Reply:
July 14th, 2010 at 10:05 am
Anytime. If you have any further questions let me know. Thanks.
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