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Treasury's rise after strong auction results

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Mortgage and Lending with Gold Financial Services

Treasury's rise after strong auction results

Prices for U.S. bonds increase after a sale of 7-year notes sees solid demand, stocks slip as reported by Ben Rooney, CNNMoney staff reporter.

 

NEW YORK (CNNMoney.com) -- Treasury's rose Thursday after a government debt sale drew strong demand and a weaker-than-expected housing report boosted demand for the safety of U.S. debt.

The government received bids totaling nearly $81 billion for the $29 billion worth of 7-year notes sold Thursday. The bid-to-cover ratio, which measures demand for the assets, was a robust 2.79. That compares with an average of 2.48 over the last seven auctions.

What this means in the San Antonio mortgage market is that rates are holding in the high 4.00% rage for 30 yrs fixed rates. 15 year mortgages in the San Antonio area are holding in the mid 4.00% range. It is still an excellent time to buy in the San Antonio Real Estate area.

 

This blog was reposted by Steve Brown of Gold Financial Services, universal City, TX. Gold Financial Services is a full service mortgage banking firm with a wide variety of conventional and government loan products, including Texas Veterans Land Board assistance program.                                                         www.mortgagesbysteve.com  (210)862-2885    sbrown0007@aol.com 

 

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