Real estate blog entries tagged with plan by Dan Hartman (Province Mortgage Associates

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Home : Blogs : Dan Hartman : Mortgages, Finance and Economics - Quality Loans from Dan Hartman : Tag "plan"

plan: Fed Intervention Fails to Close Mortgage Treasury Spread - 12/05/08 10:47 AM

In spite of an unprecedented move by the Federal Reserve on November 25th to purchase $600 billion in mortgage-related assets, the spread between mortgage and treasury rates remained at its highest level on record for the week ending December 4th, closing at 2.96%. Investors sought the safety of treasury securities in droves, increasing their prices, and depressing the yield of the 10-year treasury note to its lowest close ever at 2.57% this Thursday. In spite of rampant speculation that the Fed may be prepard to act again, mortgage securities found few buyers. Mortgage rates averaged 5.53%, according to Freddie Mac.
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