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The process has gone on several times throughout the month of August.
This is likely to change though as the Federal Reserve Bank has announced that it is going to stop buying US Treasuries by the end of September. If this actually happens Garett Bolles Jeysey , it could be the case that the market will actually set rates. From the looks of it, if the market did set rates Courtland Sutton Jeysey , we would be seeing the 30 year fixed mortgage rate move its way towards 6%. This would not be good for those who want to refinance or buy their first home but it seems to be reality.
Bank of America mortgage rates have been in a tight range between 5% and 5.5% for almost two months now. Every time we see average mortgage rates drop to near 5% there is a strong increase in the 10 year treasury yield which sends rates much higher. As soon as mortgage interest rates get close to 5.5% the Federal Reserve Bank makes it a point to announce that they are going to do whatever it takes to keep rates near historic lows.
After the Fed speeches, rates drop all the way back down to 5% until we repeat the process. This has been happening since the beginning of July and it looks like it is going to stay that way until the end of September 2009. At the end of September 2009 the Federal Reserve Bank plans to stop buying US Treasuries altogether. For the last eight months Matt Paradis Jeysey , the Fed has been buying up treasuries to help push interest rates lower. Now that they ar. cheap air max 2018 nike shoes wholesale cheap air jordan shoes Cheap Nike Shoes Free Shipping Cheap Jordan 4 cheap nike shoes for sale Nike Air Max Shoes Cheap Wholesale Nike Basketball Shoes Cheap Air Max 270 Light Bone Cheap Air Max 2018 Online