Rate Update November 25th, 2008
Mortgage rates are SHARPLY LOWER THIS MORNING.
The Federal Government announced today that they would step in and buy up to $600 billion in Fannie Mae/ Freddie Mac mortgage-backed bonds. The additional demand that the TALF program (Term Asset Backed Securities Loan Facility) will create for mortgage-backed bonds has caused rates to move sharply lower this morning.
Current outlook: neutral- definitely a great opportunity to lock
Posted: November 25th, 2008 under Rate Update.
Tags: TALF
Comments
Pingback from My Mind on Mortgages » Summary of the Fed’s current involvement in the US economy
Time November 8, 2009 at 10:12 am
[...] The most well known operation that the Fed is currently engaged in is the TALF program which I blogged about last November. It was later expanded and can be credited for keeping mortgage rates near historic lows throughout [...]
Pingback from My Mind on Mortgages » Rate Update November 26, 2008
Time November 26, 2008 at 8:36 am
[...] Rate Update November 25th, 2008 [...]