Rate Update November 25th, 2008

Posted on by Evan in Rate Update

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

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