Mortgage Rates November 24, 2008

Today at 1 p.m. EST. President – Elect Barack Obama named his Economic Team, a team many pundits are saying both sides can appreciate. The Dow maintained its second day in the Green; Friday and today represent the DOWs Biggest 2 day point game since October 1987.  As you can see from the chart mortgage yields did not react favorably to the gains in the Stock Market. The FNMA 30-YR closed the day down -25bp to 101.31 We did have one intraday re-price for the worse in Mortgage rates at 3 p.m. EST.

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