On Wednesday (3/18) the Federal Reserve announced plans to buy $300 billion in Treasuries and another $750 billion in mortgage-backed securities. It also left the benchmark interest unchanged at between 0% and 0.25%.1
What does this mean for homeowners? Already, people are talking about the potential “honeymoon effect” of the Fed’s move. As an effect of the Fed’s decisions, mortgage rates are probably going to stay low for a while – and they could go even lower.
If you’ve ever considered refinancing, it may be a good time to see what your options are and how they fit with your overall financial strategy. If you want more insight, you could consider contacting your local financial adviser for more information.
Citations.
1 news.yahoo.com/s/ap/20090318/ap_on_bi_ge/fed_interest_rates [3/18/09]
These are the views of Peter Montoya Inc., and should not be construed as investment advice.
Filed under: Consumerism, Personal Finance | Tagged: homeowner, interest, refi
