Mortgage Industry Received Some Big News
The mortgage industry received some big news this morning that will likely overshadow the Gross Domestic Product and Consumer Confidence reports today. The Federal Reserve just announced that it would purchase $600B of Mortgage backed securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. This brilliant move by the Fed is designed to help increase the availability of credit, while lowering fixed mortgage rates.
News of these plans is already helping push mortgage lower, as mortgage bonds have had a strong rally. In addition, the Fed will allocate $200B to create liquidity in the auto, student and small business loan markets.
The US economy is really a world economy. What happens here reverberates throughout the world and the proactive stance of the Feds and the Treasury really helps. Mortgage Industry Received Some Big News
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If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!
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