January 20, 2009, 10.25 AM PST
Fannie Mae Mortgage Backed Securities (MBS) Up 19.3 basis points (bps) to 4.399%
*A Basis Point (bps) is 1/100 of 1.00%
National Average Fixed Rate Mortgage Down 1.0 bps to 5.08% on 01-19-09
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 Down 203.58 -2.46%
European and Asian Markets Down 2.31%
10 Year Treasury is currently 2.44%
Crude Oil Currently $38.60 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.
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