Mortgage Rates February 10, 2009 – Economic History Day
February 10, 2009 was another positive day for Mortgage Rates. Treasuries and MBS welcomed Geithner’s plan for Financial Stability. Mortgage Backed Securities (FNMA 30 YR 4.5%) posted a 16pb gain. This positive move helped silently bring down Mortgage Rates for consumers. The details of Geithner’s Treasury plan overshadowed the passing of Stimulus v.2.0 which passed the Senate 61-37 .
Today was an action packed day for U.S. Economic History:
- Treasuries Financial Stability Plan (see video)
– New launch of transparent dedicated website for the plan www.FinancialStability.gov - The $838B Stimulus v.2.0 Passed the Senate
- Bernanke Spoke on Current status of FED Monetary Policy
Both the Treasury Plan and the Stimulus have dedicated segments focused on Housing and Mortgage Rates. The Treasuries plan to increase liquidity for MBS and the Stimulus increased Tax Credit for First Time Homebuyers are just a few of the highlights. More defined benefits will come in shortly, check back for to see how the plans will HELP the Mortgage and Housing market.
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[...] The Mortgage Sellout : Mortgage Secrets, Current Rate Updates, wrote an interesting post today onHere’s a quick excerpt February 10, 2009 was another positive day for Mortgage Rates. Treasuries and MBS welcomed Geithner’s plan for Financial Stability. Mortgage Backed Securities (FNMA 30 YR 4.5%) posted a 16pb gain. This positive move helped silently bring down Mortgage Rates for consumers. The details of Geithner’s Treasury plan overshadowed the passing of Stimulus v.2.0 which passed the Senate 61-37 . Today was an action packed day for U.S. Economic History: Treasuries Financial Stability Plan (see video) [...]