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To the shock of many mortgage and financial analysts, the Fed proclaimed that they would stop buying mortgage-backed securities because of the inherit risks involved. This new turn cannot be great news for an economy which is already reeling from 18 months of fiscal greed.

The unexpected change of opinion seems to be decisive that St Louis bank loan rates will necessarily go up much earlier than originally predicted. As far as our economy is concerned, when it rains bad news, it certainly floods the real estate property and banking sector.

Many realized that this was just another bailout program that became the largest single injection of funding into this financial crisis.

The question however is the popular topic on Capitol Hill that being though the Fed intends to stop buying mortgages, will the central bank commence selling them to private investors at any time in the next few years.

Again, the general opinion looks like it's a definite "no." But getting back to the problem at hand. Even if the Fed keeps the mortgages it has already bought, if no future mortgages are bought, it will likely raise mortgage rates in the forthcoming weeks that will influence St Louis refinancing and purchase mortgages.

How high will they go? Many feel at least a quarter to half percentage point. Opinions vary saying these very mortgage rates may end up going much more higher than was is being projected.

But that's just the beginning. When you also consider that the home buyer's tax credit is going to be ending on April 30th, this might set a whole new pattern of economical instability into action.

There are those including Dean Baker, the co-director of the Center for Economic and Policy Research, who felt this needed cash injection was what ended the free falling home rates and helped in revitalizing the St Louis refinancing market.

But what is truly alarming is what this man anticipates. First of all, with no more purchasing of these mortgage tools, this may very well cause home values to once again drop. And secondly, he feels that interest rates may indeed go up a full percentage point for home purchasers and those who would like to finally do a St Louis refinancing in the months to come.

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