January 23, 2009, 9:45 AM PST
Fannie Mae Mortgage Backed Securities (MBS) Down 2.9 basis points (bps) to 4.447%
*A Basis Point (bps) is 1/100 of 1.00%
National Average Fixed Rate Mortgage Up 1.0 bps to 5.18% on 01-22-09
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Mortgage backed securities and 10 Treasury Bills have both increased in the past couple of days after retreating back into oversold territory last week.
DJI Stocks Down 91.35 -1.12%
European and Asian Markets Down 1.068%
10 Year Treasury is currently 2.63%
Crude Oil Currently $42.51 per barrel.
New Hope For Down Payment Assistance. A bill to reinstate reformed downpayment assistance was introduced last week. The bill was introduced by Congressman Al Green (TX) with bipartisan support and it will have the same language as unanimously passed last year by the House Financial Services Committee.
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