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Some believe the 10 year T-bill is what moves mortgages, but in reality the Mortgage Backed Securities (MBS) are what influence the direction of interest rates.

Mortgage rates have been artificially low for quite some time now. In Nov 2008, the FEDs committed to purchasing MBS and this has kept our interest rates at bay. This March is the last month the FEDs are committed to purchasing MBS and many expect rates to increase soon after.

To learn more about interest rates, please click or copy the link below and view the video on "How Rates Move".

http://www.youtube.com/watch?v=vj8bZGkMST0&feature=player_embedded

If you have any questions or want to see if you qualify for a mortgage today, please feel free to contact us.