Our media machine in the US has a bizarre and strange habit of confusing the general public with half-truths and bad information. The main-stream media’s job is simple – sell advertisements. They are continually crafting stories to grab at our emotions. We read and watch and they sell more advertisements.
Below are three gotchas that the media isn’t reporting on today. These may be serious impediments to your new home purchase or refinance.
Mortgage Rates are going to go up.
As part of Federal stimulus efforts, the U.S. Treasury committed to buy $1.25 Trillion in mortgage securities. Expert opinions vary, but conservative estimates tie this to approximately 0.5% to 1.0% artificial reduction of retail mortgage rates. This program ends March…