What does this all mean? CNBC, November, 2008- federal Reserve to spend up to $500 Billion for Fannie Mae and Freddie Mac mortgage backed securities. Wall Street Journal, March 19,2009- “Fed in Bond Buying binge to spur growth” causes biggest drop in mortgage rates... [Read more]
Mortgage rates fell one third of a percentage point compared with the week before. The benchmark 30 year fixed rate mortgage fell 33 basis point, to 6.44 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point.... [Read more]
Recent quotes and exerpts about the Positive Signs in the real estate market; Resales of existing homes jumped by 5.5 percent last week…that was the largest monthly increase since July 2003, in the middle of the housing boom. In the western states, sales were up a record... [Read more]