If you have been following the financial news, you have probably heard that the Fed has been buying Mortgage Backed Securities and will continue to do so as needed. Unfortunately, some media outlets have noticed the news and mistakenly reported that these purchases will continue to cause rates to drop lower into the summer. However, is that really what it means? No. Bottom line: The Fed's purchase of higher rate coupons will not necessarily help rates to move lower, as their actions do not affect the loans originated at today's low rates. The Problem Is... Many consumers are in situations where they can purchase or even refinance now and save hundreds of dollars a month on their mortgage payments. However, when they hear the media throwing around teases of lower rates ahead, they decide to hold off on making the decision to save, in the hopes of gaining a few more dollars of savings per month if a lower rate came their way. Of course, while they are waiting, rates could turn higher - and this window of opportunity could pass them by entirely. Here is the clincher: Even if consumers are ultimately able to time the market perfectly and save another few bucks per month, they could still end up losing. That is because while they delayed, they lost the savings each month they could have gained by taking action sooner. In other words, they may have lost hundreds of dollars for every month they waited. So even if they got lucky and obtained the rate they were looking for, it could take years to make up what they lost by waiting. I do not want anyone to miss an opportunity by either waiting or misunderstanding the media headline. Let us talk further on this. Call or email me, and let us discuss what this might mean for you.