 |
Tuesday, September 16, 2008
Monday, September 8, 2008
Mortgage Bonds are soaring higher
Mortgage Bonds are soaring higher on this weekend’s announcement that Fannie Mae and Freddie Mac will come under control of the government.
The government’s move to create a line of $200 billion to back all Fannie Mae and Freddie Mac loans at all costs is great news for homeowners. First, it ensures the continued liquidity of conforming loans nationwide and, second, it ensures that buyers of this type of Bond have a safe investment going forward. There’s no doubt that this will help the US housing market move through the current crunch that we’re in.
So far this morning, the news has lead to a nice rally in pricing. When combined with the break above the 200-Day Moving Average, this may lead to attractive rates. Therefore, I recommend floating for now.
The government’s move to create a line of $200 billion to back all Fannie Mae and Freddie Mac loans at all costs is great news for homeowners. First, it ensures the continued liquidity of conforming loans nationwide and, second, it ensures that buyers of this type of Bond have a safe investment going forward. There’s no doubt that this will help the US housing market move through the current crunch that we’re in.
So far this morning, the news has lead to a nice rally in pricing. When combined with the break above the 200-Day Moving Average, this may lead to attractive rates. Therefore, I recommend floating for now.
Friday, September 5, 2008
Jobs Report for August
Wow another great - shortened week! I know you are getting busy out there! Let me know what I can do to help. Make it a great weekend!
Market Update
The Jobs Report for August came in this morning at 84,000 jobs lost. But the real buzz in trading is the swelling unemployment rate, which jumped from 5.7% to 6.1%. This marks the highest unemployment rate since September 2003.
Mortgage pricing has been on a rally for the past several days and looks like it’s about to turn the other way. It’ll interesting to see what happens next week! Stay tuned!
Market Update
The Jobs Report for August came in this morning at 84,000 jobs lost. But the real buzz in trading is the swelling unemployment rate, which jumped from 5.7% to 6.1%. This marks the highest unemployment rate since September 2003.
Mortgage pricing has been on a rally for the past several days and looks like it’s about to turn the other way. It’ll interesting to see what happens next week! Stay tuned!
Interest rates are at a 4 month low
It’s shaping up to be a busy month! Interest rates are at a 4 month low and I’m continuing to watch the bond market for you. See the article attached as well as the newsletter for an industry update. Make it a great month and if I can help you are someone you know with a purchase mortgage or refinance. Attached is a free appraisal flyer for you to use or give to a friend.
Has the Housing Bubble Popped?
http://www.mortgagenewsdaily.com/09052008_Housing_Bubble.asp
Make it great!
Oh by the way, I’m never too busy for any of your referrals.
Has the Housing Bubble Popped?
http://www.mortgagenewsdaily.com/09052008_Housing_Bubble.asp
Make it great!
Oh by the way, I’m never too busy for any of your referrals.
Subscribe to:
Posts (Atom)