Home loans in Austin Texas: here’s local lender John Schutze with his weekly update:

Mortgage rates edged slightly higher this week.

The Fed announced they were selling $162 billion worth of Treasury Bonds next week. This is drawing some investor attention away from Mortgage Bonds and caused rates to increase yesterday.

In other news, the Fed has purchased a total of $482 billion in mortgages out of the 1.25 Trillion they have allocated to spend this year. So they have $700 billion remaining to spend throughout the rest of the year. This should keep rates near current levels for the remainder of 2009! “

John is a loan officer with Bank of America and has an Austin mortgage blog which has plenty of interesting articles on factors impacting lending rates.

Garreth Wilcock is a Realtor ® in Austin, Texas. You can search Austin homes for sale at his website.


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