January 14, 2009, 1:45 PM PST
Fannie Mae Mortgage Backed Securities (MBS) Down 2.4 basis points (bps) to 4.158%
*A Basis Point (bps) is 1/100 of 1.00%

National Average Fixed Rate Mortgage  Unchanged 0.0 basis points at 5.08% 01-13-09

Float with Caution
Mortgage Backed Securities are declining into an oversold territory from a nuetral zone where they have rested for the past week.

DJI Stocks Closed Down 248.42 -2.94%
European and Asian Markets Down 3.06%

10 Year Treasury is currently 2.20%

Crude Oil Currently $37.37 per barrel.

New Hope For Down Payment Assistance. A bill to reinstate reformed downpayment assistance will be introduced as early as tomorrow. The bill is expected to be introduced by Congressman Al Green (TX) with bipartisan support. The bill will have the same language as unanimously passed last year by the House Financial Services Committee.

Click here for the ULTIMATE FHA-VA Loan Officer Trainer and Pre-Qualifier   Calculates everything you need to know about FHA and VA Loans.  Qualifies Borrowers, Finds Rates,: Payments, Buyer and Seller Costs and FHA and VA Maximum Loan Amounts anywhere in the country.

How To Apply For $7,500 First Time Buyer Tax Credit
Up to $7,500 can be borrowed from IRS

10 Ways to Avoid A Closing Nightmare
An easy list that will make your life easier

Current Market and Lending Updates