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mortgage market wrapup: Mortgage Market Wrap-Up: Tuesday, March 11, 2008
- 03/11/08 12:08 PM
It's been a crazy month so far, with mortgage rates moving up one hour, and moving down the next. Today, the Federal Reserve announced that they were injecting another $200 billion to ease liquidity concerns.
In non-financial jargon, this means that the Fed is making more cash available to banks, since they have lost so much money as a result of the mortgage industry "meltdown".
The great part about the Fed's move is that it will allow banks to receive Treasuries in exchange for their mortgage-backed securities, otherwise known as mortgage bonds. Mortgage bonds are looked at negatively by the market since they've … (2 comments)
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It's been a crazy month so far, with mortgage rates moving up one hour, and moving down the next. Today, the Federal Reserve announced that they were injecting another $200 billion to ease liquidity concerns.
;)
;)
