No Change in Mortgage Rates (Yet)

I have just received the following telegram from my generous daddy. It says, ‘Dear Jack: Don’t buy a single vote more than necessary. I’ll be damned if I’m going to pay for a landslide.

–John F. Kennedy

Almost a month after The Federal Reserve completed its massive, $1.2 trillion purchase of mortgage securities, 30-year mortgage rates are about 5%.

What were they prior to March 31?

About 5%.

Which begs the question: did The Fed really need to spend all that money?

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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