Another wild week in the U.S. economy.
Friday capped the week off with the DOW closing in the green up 259.18 pts (positive note), although the day started out negative with job losses that mirrored 1974 numbers, and more of the same old bleak news in regards to mortgage delinquencies and foreclosures. MBS...
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...
Like everything else on Wall Street, mortgage markets are based on supply and demand. When demand outweighs supply, mortgage rates fall.
So, Tuesday, when the government unexpectedly announced a $600 billion budget for buying mortgage debt from Fannie Mae and Freddie Mac, the demand side of the mortgage...
Fannie and Freddie announced today they will suspend Foreclosure sells until Jan 09 starting the day before Thanksgiving.
No Foreclosures for the Holidays, business will resume 2009.
This step coupled with the slowing of Housing Starts could lead to a tighter housing supply, thus stabilize declining market...
For the 4th consecutive year, the government has set the conforming mortgage loan size limit at $417,000.
A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac.
The 2009 conforming loan limits, as released by the government,...
