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| Good Morning Everyone Bernanke and Paulson testifying before the congress about the new $700 billion plan. Oil and gold down, dollar trying to make a comeback. Mortgage Bonds trade higher. Stock Market down. Today's Interest Rates Conforming 40 yr Fixed------ 7.125% Conforming 30 yr Fixed-------6.000% Conforming 20 yr Fixed-------6.250% Conforming 15 yr Fixed-------5.875% FHA 30 yr Fixed------------------5.875% VA 30 yr Fixed--------------------5.875% Reverse Mortgage for those 62 years or older-----Fixed HECM 6.06% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News Mortgage Bonds are trading higher this morning, as commodity prices such as oil and gold are retreating after their big rally yesterday. The big news of the day will take place on Capitol Hill where Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson will testify in front of the Senate Banking Committee. Bernanke and Paulson will be trying to sell the new $700 billion bailout plan that calls for taking illiquid mortgage backed securities off the hands of lending institutions. For now, Mortgage Bonds are in good shape. I recommend floating as I monitor the situation to see how the market reacts to the day’s events Today's Quote My future starts when I wake up every morning... Every day I find something creative to do with my life. Miles Davis (1926 - 1991) |
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