Driving down to San Diego today to attend the Tenant in Common Association’s spring conference, I was blown away listening to the radio that the Federal Reserve will buy up to 1 trillion dollars of bonds. Huge news! It was reported that this caused the most significant drop in yields on 10 year Treasury bonds since at least 1962. But how does this affect  potential homebuyers?
As reported on Bloomberg.com, “The Fed’s announcement was “good old-fashioned ‘shock and awe,’” said Scott Simon, the head of mortgage-bond investing at Newport Beach, California-based Pacific Investment Management Co., the world’s largest bond manager. “It’s certainly going to get mortgage rates even lower.”

We’ll watch and report from San Diego how, in fact, home mortgage rates change over the next couple of days.