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What is QE2 doing to mortgage rates?

What is QE2 doing to mortgage rates?

If you were sitting around waiting for mortgage rates to get better before you refinanced, you may have missed the train. As a result of the initial reaction to the Fed’s commitment to purchase treasuries we have seen mortgage rates climb .25% this week. The sentiment right now from the market is belief in the government’s actions will lead to success with their plan.

I now have 3-5 clients who are sitting and hoping rates come back down so it makes sense to refinance. It will be interesting to see what happens to the markets as QE2 unfolds.

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