Economic experts, including Quicken Loans Chief
Economist Bob Walters, weighed in on the future
of mortgage rates on Fox Business. After the
highly anticipated Federal Reserve press conference
& press release, all eyes turned to mortgage
interest rates to see how the announcement would
impact the financial market.
After the release and press conference, mortgage
rates remained near historic lows. Despite mortgage
rates being at historic lows and home prices
continuing to fall, the housing market is still
struggling. New home sales increased slightly
in March, but some experts are still skeptical
about the market bouncing back. One thing that
is certain, it is one of the best times to buy
a home if you’re in the market to purchase.
In regards to the future of mortgage rates,
Bob Walters discussed the impact of QE2, the
government’s second quantitative easing
program, which is scheduled to end in June:
It is unlikely the Fed would go for a “QE3?
and extend the program beyond the end of June,
says Bob Walters, chief economist at Quicken
But since the end of “QE2? is already
expected by most investors it shouldn’t
have a major impact on mortgage rates, he says.
“Surprises move the market,” he
says. “This is would not be a surprise.
It’s already built in. If things happen
as predicted, we should expect no changes”
after the program ends
to Albuquerque Mortgage News