Now that the U.S. Federal Reserve has said they would be reducing its asset purchase program, a local mortgage expert says it’s not clear how that might affect future home buyers. The program was introduced in March 2020 to protect the economy from the COVID pandemic. Ann Zeilingold of FM Home Loans in Pomona says the Fed’s decision late last year to taper their purchase of mortgage-backed securities could cause rates to go up a bit…
WRCR Market Analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge agrees, the rates won’t change very much based on the Fed’s actions…
Reuters reports the Fed expects to phase out buying mortgage-backed securities completely by June.