Mortgage backed securities

Mortgage backed securities keeping pushing levels of resistance which is good for mortgage pricing and continuing to test how low rates can go.
Bonds are getting a boost today as investors seek a safe haven after hearing news of the spreading swine flu, which is pressuring Stocks in the US and around the globe.

In other news, Chrysler has received concessions from the UAW, while General Motors is phasing out its Pontiac division and offering a Bond exchange as part of its restructure.

With no economic reports scheduled for today and the boost in Bonds, I recommend floating. I will let you know it the situation changes later today when the Treasury Department auctions off its supply of bills and notes.

Oh by the way, I’m never too busy for any of your referrals.

FHA Streamline Program

If you know someone who recently bought a home using the FHA program please pass me their information (with their permission of course) and I’ll be happy to get them a lower interest rate and lower payments.

It’s a great time to get qualified for a purchase loan as well. Today’s low interest rates will make new home purchases affordable and the tax credit help too.

Call me for more information on the $8,000 federal tax credit and $10,000 state tax credit for first time home buyers. This month’s newsletter talks about getting bigger tax refunds for this year as well!

**If you’d like to get an updated quote on your homeowners insurance I know a guy that can save you hundreds of dollars a year!!** Call Sean for details at 760-837-1488