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Good News for Current Market

By Freddy Solis Bristow

Real Estate Agent with Vylla Home

September 13, 2008 04:06 PM

For those of you with your head in the sand last weekend, or recovering from a Hurricane Party………..the Gov’t has announced it will be taking over Fannie Mae and Freddie Mac which allows the US Treasury to back the bonds offered by these companies. This added strength to the bonds and the price of the Mortgage Backed Securities jumped higher based on this news. Barring this past February, this puts these bonds at near the highest level they have seen in over 2 years!!

Rates have improved and are continue to add to their gains. Currently the bond pricing is up over 150 bps since its close on Friday (9/6/08). This is good news for Mortgage Rates as we anticipate improved pricing in the future!! Below is a graph showing the current bond activity. Remember, when the Bond price goes up, mortgage rates DROP!!

Anyone who is currently locked into a Mortgage Rate should now be calling their Loan Officer to get Improved Pricing!!!! FINALLY!! Let’s hope this trend continues.

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Stanley Stepak

Howard Hanna - Avon Lake, OH - Avon Lake, OH

Realtor - Avon Lake, Avon, Bay Village, Westlake,

Hey that is great news. Thanks for sharing. Freddie, It may be my site but your graph is not showing.

Stan

Sep 13, 2008 04:16 PM

Dinah Lee Griffey

Windermere Peninsula Properties - Allyn, WA

Managing Broker Windermere Peninsula Properties

Great info . We all love to hear the positive! Thank You for sharing-Dinah

Sep 13, 2008 04:19 PM

Freddy Solis Bristow

Vylla Home - Bristow, VA

Braemar Realtor

Stanley: Thanks for the comment.

The graph seems to be OK I checked out my outside blog at http://solisweb.activerain.com/ it looks fine. I hope it remains that way.

Sep 13, 2008 04:25 PM

Anthony Stokes-Pereira

Better Homes and Gardens Rand Realty - Nanuet, NY

Realtor

Hi Freddy;

Great news, I am hoping that will help motivate buyers and the market. Good Luck!

Anthony

Sep 13, 2008 04:28 PM

Cameron Novak

The Homefinding Center - 1000 Palms, CA

Real Estate Broker since 2008

You just about a week late with your News Flash, but thanks for sharing.

Sep 13, 2008 04:33 PM

Christopher Webster

EXP Realty, LLC - Columbia, SC

Columbia South Carolina Real Estate For Sale

Hurray, I guess we are gonna make it afterall!

Sep 13, 2008 05:07 PM

Royal Goodman

Royalty Home Solutions - Madera, CA

"We Treat You Like a King"

Freddy. I hope this is good news for all. Royal..

Sep 13, 2008 05:25 PM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Freddy: I guess we all owe a big thank you to China for continuing to finance our government and it's problems. Hope this improves the market.

Sep 14, 2008 03:36 AM

Royal: We all do, you are right. Will see if it continues to get better

Chris: Problems in the US were created by the US with other countries indirectly making them even worst.

Sep 28, 2008 02:03 PM

Earl Johnson

Fort Lauderdale, FL

Times are turning and it is fortunate we are stepping in the right direction, but it is true that all good things come in time...

Sep 28, 2008 03:10 PM

Anonymous

Northern Virginia Sales have increased from last years numbers, I hope this is a good indicator that the market is making a turn around at least in my area.

Mar 16, 2009 05:44 AM

#13

Good News for Current Market

Comments(12)

Hurray, I guess we are gonna make it afterall!

Freddy Solis Bristow

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