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Wisconsin Mortgage update

Posted 11-29-2008 at 11:59 AM by DFrenzel

Mortgage bond prices rose last week pushing mortgage interest rates lower. Trading remained volatile as trading was thin amid the shortened holiday trading sessions. Mortgage bonds rallied nicely following the announcement that the Treasury and the Federal Reserve will spend $800 billion to help the ailing credit markets (details in article below).

For the week, interest rates on government and conventional loans fell by about 1.625 discount points.

The employment...
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Old

Mortgage Market Update 11/25

Posted 11-25-2008 at 10:58 AM by dlenski (Daily Mortgage Market Update)

Government agrees to buy MBS
11/25/08 The government has agreed to buy over 500 Billion in Mortgage Backed Securities. This has sent interest rates down. I will try to post later.

Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI
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Mortgage Market Update 10/24

Posted 11-24-2008 at 01:10 PM by dlenski (Daily Mortgage Market Update)

short week
11/24/08 Not much on the economic calender this week. The stock market will dictate the direction of Mortgage Backed Securities. The stock market is currently up and MBS are -12bps. That is the number most investors used to set their pricing. I will have an update later this afternoon.

Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI
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Mortgage Market Update 11/21

Posted 11-21-2008 at 01:30 PM by dlenski (Daily Mortgage Market Update)

What a week
11/21/08 Mortgage Backed Securities are negative 18 basis points this morning. I have never seen such a week. The 10 year moved from 3.75 to 3.12 and the interest rates stayed the same. If you are floating and waiting for a rate, I would have my finger on the lock button. If we have a short covering rally today, interest rates will go up. I will update this page as the day unfolds.

UPDATE: As of 11:30 cst MBS are -34bp. This is going to cause rate changes
...
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Old

Mortgage Market Update 11/20

Posted 11-20-2008 at 12:26 PM by dlenski (Daily Mortgage Market Update)

Mbs flat fourth Straight day
11/20/08 Mortgage Backed Securities are flat. The 10 year is at 3.15 and up 138 basis points. The 30 year fixed rate was at 5% back in 2003 when the 10 year was this low. With everything that has happen this week and there is no movement on interest rates. When stocks turn around MBS will spike and interest rates will go up.

In 2003 when the 10 year was at 3.15 it rebounded fast. Interest rates changed by .75% in one day. Make sure you obtain a...
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