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Mortgage Market Update 01/23 - Forget you ever heard 4.5%
Posted 01-23-2009 at 10:41 AM by dlenski
Forget you ever heard 4.5%
1/23/09 The 4.5% ship has sailed. The FED was supposed to use $500 billion to keep interest rates low. I guess the FED's definition of low and ours is different. The FED has spent $50 billion of the $500 billion since the programs inception at the beginning of the year. The FED had plenty of opportunity to step in and by Mortgage Backed Securities this week and they did not. That would lead me to believe that they are not trying to drive rates to the 4.5% like everyone thought. The next time rates bounce off 5.00%, take advantage you will be glad you did. Have a great weekend!
Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI
1/23/09 The 4.5% ship has sailed. The FED was supposed to use $500 billion to keep interest rates low. I guess the FED's definition of low and ours is different. The FED has spent $50 billion of the $500 billion since the programs inception at the beginning of the year. The FED had plenty of opportunity to step in and by Mortgage Backed Securities this week and they did not. That would lead me to believe that they are not trying to drive rates to the 4.5% like everyone thought. The next time rates bounce off 5.00%, take advantage you will be glad you did. Have a great weekend!
Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI
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