Fed to Buy $40 billion PER Month in Mortgage Bonds

The Fed announced it will purchased $40 billion per month in mortgage bonds.  It did not say for exactly how long.  What this means is that there will most likely be a shift in how the banks will treat mortgages – both in offering and modifying existing ones.  Theoretically, it will make home purchasing easier, and allow for more home mortgage modifications to help those who are struggling keeping up with their payments.  Let’s cross our fingers.