Just when you think the federal reserve bank has done all it can to help the housing and mortgage industry it pulls another rabbit out of its hat. Its buying back $300 billion in treasurys. Mortgae rates reacted positively and fell almost a 1/2 of a point down to around 4.5%. The lower interest rates and the Obama tax credit should bring some new life into the housing market as long as the consumers can keep their jobs.
Wow, I'm so excited. Low house prices along with record low interest rates should be a very good spring season. Then when you add in the extra $8000 taxcredit for new home buyers and also first time home buyer packages from the state of Minnesota. Ther is no reason not to buy a home.
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