Market Update

The FED announced today that it will Lend $200 Billion in exchange for Mortgage Backed Securities (MBS). We hope this will help infuse a bit of confidence in this market and help mortgage rates. The FED is also reportedly going to drop the FED Funds rate again on 3/18. Be sure you check back to our site to monitor the market and see how mortgage rates are affected.

There are also a lot of rumors and misinformation floating around. This has to do with Boone County's market status (soft, declining, etc.), mortgage rates, program offerings, and lenders making drastic changes. While everything is extremely volatile, don't believe all that you hear. Information gets passed along and gets distorted. If you have any questions at all about what is going on in the mortgage market, please comment below or call us directly. We monitor all of this very closely and will be happy to help!

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Professional Mortgage Group, Inc.