The Bond Market

[wiphan]

Mortgage rates increased .625% today. Largest increase I can remember in 1 day in the last 10 years. We saw a .5% dip one day, but I can't remember a day like today. Our interest rates got worse 4 different times today. Personally I am kind of relieved and hope that we can keep things slightly higher for a while so that I can catch up and actually have a life outside of work.

[dalakhani]

Originally Posted by wiphan

Mortgage rates increased .625% today. Largest increase I can remember in 1 day in the last 10 years. We saw a .5% dip one day, but I can't remember a day like today. Our interest rates got worse 4 different times today. Personally I am kind of relieved and hope that we can keep things slightly higher for a while so that I can catch up and actually have a life outside of work.

You won't get your wish wip. Feds will start buying mbs again next week. Just watch.

Enjoy your weekend though.

[wiphan]

Originally Posted by dalakhani

You won't get your wish wip. Feds will start buying mbs again next week. Just watch.

Enjoy your weekend though.

I know. The fed will keep buying thru 2010, which is a good thing and means job security in a tough time for most people and allows me to put some $ away for when things won't be as good. The fed has committed to buying 1.25 trillion in MBS and so far I think they are under 500 billion in purchases. There are still a lot of issues that need to be worked out with the Obama HARP(home affordability Refinance program) program. At least though we can maybe work thru some of our capacity issues. It is twice as hard to do the same mortgage this year as it was 8 months ago even for the best credit worthy individuals. That coupled with appraisal issues on just about every loan is just a mess right now and I live in a very conservative state.

[SuffolkGirl]

http://www.breakingviews.com/2009/05...spx?sg=nytimes