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Studies from inside the Fed say the group's intervention lowered rates by 1 percent last year. We've been getting low rates because the mortgage-backed market is "artificial". The Fed is a non-natural buyer. Starting April 1, 2010, though, life goes back to normal. The Fed is ending its support and the market will be left to its own. It will be ugly for mortgage rate shoppers.
Another day, another demand-side stimulus for the housing market. Huzzah. In the sprawling 407-page stimulus bill, nestled in on page 111, Congress authorized a reinstatement of 2008's temporary conforming loan limits. Effective immediately, home loans in high-cost areas can be insured by Fannie Mae or Freddie Mac up to $729,750....
