2009 - Refinance and Home Purchase Opportunity Now

The Federal Reserve (Fed) is in the midst of unprecedented support for the mortgage market as they are buying $1.25 trillion in FNMA, FHLMC, and GNMA mortgage-backed securities (MBS). MBS are groups of mortgage loans assembled together as an investment. This support has driven interest rates to record low levels. It is time to refinance, even if you did so this past year. It may also be time to consider purchasing a home if you are moved to do so and have the means and disposable income to support such a move. As always, consider the cost of home ownership versus rental costs. Do not overpay for the right to own.

The Fed will likely stop buying MBS as year end approaches. Do not expect low rates to last into next year.

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Managing transitions

From WIlliam Bridges, "transition as the natural process of disorientation and reorientation that marks the turning points of the path of growth".