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daily market update: Mortgage Backed Securities Take A Punch To The Face!!!! OUCH!!! - 03/07/08 07:40 AM
In case you just climbed out from beneath your rock....     Rates are skyrocketing in the mortgage market.   
The mortgage market took a couple of punches off the snout yesterday.     A good ONE   TWO jab and upper cut which hurt new home purchasers about a quarter in interest rate.
A large bank, Thornburg has gotten themselves into HOT WATER.   The ugly word margin call has entered Thornburg's picture it seems.    
This weakness in what was a good bank has helped fuel a dramatic sell of mortgage rates of all terms.   The reasoning is that if a bank like Thornburg can make a miscalculation like this to jeopardize … (4 comments)

 

Chris Catanese

Blue Bell, PA

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Ultimate First Time Buying Guides/Keller Williams Real Estat

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