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Bill Ladewig's AM Market Brief

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Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

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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Up to $7,500 can be borrowed from IRS

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Comments (0)

Anonymous
John

I don't need downpayment assistance, but it is good to see being offered as maybe it help help the real estate market. but what I need is mortgage help. This site http://www.needhelppayingbills.com had some info and mentioned a fed program called Hope Now, but I need more info on the government programs. Do you have any info on mortgage help? Thanks

 

Jan 24, 2009 02:11 AM
#1