The following Oakland Tribune article reports on a drop in mortgage rates for 30 year fixed rate mortgages to under 5%. This drop is in spite of the recent Federal Reserve Board policy change for trading Mortgage Backed Securities. By trading Mortgage Backed Securities The Fed has helped to keep interest rates low but will end this policy on march 31 of this year. Most experts expect interest rates rise throughout the remainder of the year. This may make it more expensive to buy real estate in Danville, San Ramon, Alamo, and the entire Bay Area.
30-year mortgage rates drop to 4.93% What does this mean for Bay Area Real Estate.
Post by Bob Gibbs
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