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 June 03, 2009

Current Quandary: Should Buyers Lock in Rates?
Right now buyers are wondering if now is a good time to lock in on an interest rate. Interest rates are at their highest levels since February. The question on people's minds is if they should wait to see if the federal government is able to find a way to lower rates.
Staff members at Money magazine are of the opinion that the "wildcard" in the scenario is the chairman of the Federal Reserve- Ben Bernanke. Recently, the Federal Reserve has been in the process of buying up mortgage-backed securities and long-term Treasuries to keep interest rates at bay. They note that the Fed did not seem overly concerned when rates began to climb again just last week.

Now that rates have reached a 6-month high point, some feel that the Feds will take further action to cap the increase.