Mortgage Rates December 2, 2008
The FNMA 30-YR 5.5% lost traction today, giving up -.47bp to close at $101.56. This translated into a increase of 1/8th in rates. The stock market bounced back slightly to end in the green. There is much talk and speculation the Fed will enter the Bond market and buy Fannie and Freddie bonds in the pragmatic fashion of lowering rates (Monetary Policy 101).
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