Interest rates predicted to reach 6%

This news is another great reason for buyers to start searching now for their home! Plus the April 30th deadline for the buyer’s tax credit. Buyers must be under contract by this date to take advantage of the tax credits! First timers up to $8000 credit, and repeat buyers $6500. Visit the site listed below for FAQ’s… 

http://www.federalhousingtaxcredit.com/

Interest rates are likely to rise to at least 6% by the end of 2010, predicted Amy Crews Cutts, deputy chief economist at Freddie Mac. The end of the Federal Reserve program that buys mortgage-backed securities will drive rates higher because private buyers will demand more return than the Fed…

Extraordinary resources have been put into keeping the rates down and supporting the mortgage markets and it’s hard to imagine that the rates can go much lower than they are, “Crews Cutts said. “Anything we get at or below 5% is a gift at this point.”

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Source: Washington Post