Fannie Mae's intraday MBS yield is falling sharply, which means that mortgage rates will likely follow. The drop is significant, and likely is in part tied to the new Treasury plan to buy Mortgage Backed Securities.
If you've been thinking of buying, you would be wise to talk with your lender for a rate quote. A drop in rates increases your purchasing power, and with the incredible values that are on the market right now, you may find you can get a whole lot more for your dollar than you would have just a few months ago.
Homeowners who may have been considering a refi should also consider taking action now.
In other words, real estate is on sale, and mortgage money is going on sale too! That's something for which we can be thankful!
Tuesday, November 25, 2008
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3 comments:
With the Treasury Secretary on his spending spree he surely isn’t trying to get a good return on the tax payers’ investment. The bailout was to buy up bad mortgage debt but it never did. What is the purpose of the fund? Paulson’s has warrants on many banks and they average 1 – 3 percent when enacted. Yet the cash investment is about 20 percent of the market cap. Maybe the next Treasury Secretary will be less erratic.
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Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Bailouts for Everyone
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