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