I’m pleased to tell you the FED just announced they would maintain their current MBS buying program (QE-3)! Here is a link to the news; http://www.reuters.com/article/2013/09/18/us-usa-fed-idUSBRE98G1D620130918
That means rates just took a nice drop after increasing sharply over the last few weeks!
Rates should continue to drop back for the next couple of weeks. Get your buyers in NOW! We can lock upon application if the situation is right!
On a not-so-bright note, the USDA maps are set to change on October 1st barring any congressional action. That means that many many current listings that are in the USDA zone will no longer be eligible for this no-money-down, low interest program!
At Victory Funding, we stay on top of the issues that affect our partners and clients! Your business is our priority! Please give Tim a call or shoot him an email if you would like to learn more.
Have a blessed day!
