Many buyers are even participating in special programs that allow them to lock in a rate for the next three months, prior to "shopping" for the home they intend to buy.

 Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.

According to the Ledger: "Sorry, home buyers. This party has been fun while it lasted, but it will be over soon. The super-low mortgage rates you've enjoyed for more than a year will likely be coming to an end. The Federal Reserve is expected to end the festivities by stopping an unusual campaign of buying up mortgage-backed securities next week."

"The Fed has helped support the local economy by holding the federal funds rate at close to zero percent. While that helps keep interest rates low on many forms of borrowing, it has a modest impact on 30-year fixed mortgages at best. The mortgage market is closely tied to the bond market, not the Fed's interest rate machinations."

"That's why the Fed last March also took the unusual step of embarking on a $1 trillion-plus shopping spree to buy up mortgage-backed securities from mortgage buyers Fannie Mae and Freddie Mac. This artificial involvement in the mortgage market was the main tool the Fed could use to keep interest rates low."

"But that campaign is scheduled to be wrapped up next Wednesday (Msrch 31), the end of the first quarter. Few analysts expect interest rates to skyrocket right away – the prices in the bond markets, to some extent, already reflect the end of the Fed's campaign. But most members of The Patriot Ledger's economic advisory panel say it's a safe bet that interest rates will start heading upward again. The days when 30-year mortgages with a 5 percent interest rate are easy to find could be ending soon."

Mark can be reached by clicking on this link and viewing the Fuller Team website for Luxury Homes in Houston Texas.