Mortgage Rates December 3, 2008
This should be a Wild ride. Word hit the street late today, that the Treasury is working a plan to manually lower interest rates, in an attempt to a achieve a 4.5% overall rate on a Vanilla 30 YR Fix. Basically the Treasury would become the investor and under bid the market.
Check back tomorrow to see how low we go..
The MBS market bounced back late in the day after the announcement, as you can see in the climb back in the candlestick.
As always for No Obligation Free Mortgage Planning Consultation, Feel free to contact me!!
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