Mortgage Rates February 3, 2009

MBS finished the day down -34bp (FNMA 30 YR 4.5%) this helps push Mortgage Rates higher for borrowers. See Real Time Mortgage Rates. The losses have been accredited to the possible passing of the new Stimulus which will/could lead to future inflation; the other item taking blame is Wednesday’s scheduled Treasury note and Bond auctions.  Rates could see a rebound late this week, with the release of the Unemployment Rate on Friday. Check back for the outcome.

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