Keep Renovation Loans in Mind to Move Tired Inventory

Mortgage backed securities gave up a lot their Friday gains today as the 3.50% coupon bonds languished around 90 basis points below the highs of early September.  FHA and VA loan rates are still below 3.50% and represent real value for first time buyers and veterans.  When showing houses that have bathrooms or kitchens or other features that are suffering from obsolescence, keep FHA 203K and Fannie Mae Homestyle loans in mind as they can really help spiff up a tired looking house.  The Dow gained 85 points today edging ever close to the 23,000 threshold.