Mortgage Rates February 5, 2009 – Calm Before the Job Reports

Mortgage Rates remained unchanged today, see February 5, 2009 Mortgage Rates.  The MBS market had little action today, which could be in anticipation of the Jobs Report scheduled for Friday.  If numbers are on target or higher we could see rates improve and start to move lower again. 

Thursday is FED MBS Procurement Day.
The FED announced its weekly MBS transaction report today.  This week’s report issued $22.277bn of MBS procured by the FED, for a grand total of $91.74bn.  Only five months and $408.26 to go to reach the allocated amount. 

In other Mortgage and Real Estate news, Senate Democrats shot down the Republican plan to help push Mortgage Rates to low 4%.  The new Stimulus which is scheduled to be voted on tomorrow will include a bill to increase the current First Time Homebuyer credit of $7,500 to $15,000. Details have not been ironed out, I would expect it to be similar to the existing credit.

For now homeowner and borrowers who want lower rates, cross your fingers for a bad Job Report number.  It sounds sadistic, that’s how the economy and markets work.

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1. Mortgage Rates February 5, 2009 – Calm Before the Job Reports · Real-Estate.ExplainedOnline.Net says:

   February 5, 2009 at 6:53 pm

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2. Mortgage Rates February 5, 2009 – Calm Before the Job Reports · Real-Estate-Investing.ExplainedOnline.Net says:

   February 5, 2009 at 7:21 pm

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   February 5, 2009 at 7:59 pm

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