Fed Takes Historic Economic Action! If your mortgage is 6% or above don't miss this historic opportunity!

 

 

Fed Plans to Buy $750 Billion of Mortgage-Backed Securities - 3/18/2009

Fed Chairman Ben Bernanke and the other members of the Federal Open Market Committee stunned the credit markets with their announced plans to buy up to an additional $750 billion of mortgage-backed securities.  Market participants were further shocked by the Fed's plan to buy up to $300 billion of longer-term U.S. government debt over the next six months.   This event is nothing but mortgage market friendly and virtually assures mortgage interest rates will stay unusually low for an extended period of time.

The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability," the Fed said in a statement.  It added that it expected interest rates to remain "exceptionally" low for some time, a subtle commitment to the current policy that could help bring down longer-term interest rates.

"Interest rates have fallen to all-time lows. In the face of the declining economy, the Fed has pulled out all the stops to help you with your mortgage by decreasing their target rate to nearly zero percent.

However, we have also seen that property values continue to be a challenge for many. For some, waiting too long could cost them the chance to move forward if their property fails to appraise. Would you like to discuss what opportunities might be available to you today?"

Call 296-4747 for a free, confidential analysis of how much money you can save each month!

or log on to www.LegacyMortgageNM.com 

 
Posted by Paul Chavez @ 4:40 PM on 03/18/2009
Tags: home values Mortgage Rates real estate stimulus