Low Arizona Mortgage Rates Until 2014?

It's a fact, each time interest rates go down mortgage application activity goes up (and we are not just talking about refinances).  As an Arizona Mortgage Lender, I have seen this trend many times.  There is a distinct correlation between low rates and purchase activity.  Over the past few years we have talked about the Fed's plan to keep rates low in order (in part) to help promote the housing market.  Well, they have succeeded tremendously in accomplishing their goal. Whether or not you … [Read more...]

“Operation Twist” mean Lower Mortgage Rates?

The Federal Reserve made an announcement today that pushed mortgage backed securities higher than ever before. The Fed Reserve announced "Operation Twist."  In short, the Fed decides to sell $400 billion in short term securities and reinvest that same $400 billion in long term securities - specifically mortgage backed securities.  This move will support current low (maybe even lower) mortgage rates. Why is this important to what you and I do?  In the short term it is significant because today’s … [Read more...]