Good Morning,
Last night, the House of Representative passed the Healthcare Reform bill. The vote was certainly not unanimous. Although the markets are not sure how to react just yet, the news could be a big factor over the next days and weeks depending on how everything shakes out.
This week the Fed will invest the last of its $1.25Trillion into Mortgage Backed Securities. The money has been systematically buying up mortgage pools since late November 2008. As you can see from the graph below, the PRICE paid for mortgages on Wall Street has been held nice and high during this time, resulting in low mortgage RATES offered to our borrowers.
Time will tell how long this holds out. For now, my 30 year Conventional is at 4.875% and FHA is at 4.75%.
Let’s have a great week!
Jeremy Plouzek, CML, ALM
Security Home Mortgage
576 South State, Orem Utah 84058
Office: (801)764-0111
So, real estate values have been steadily increasing over the past decade or so, and then we had the boom. Who is to blame for the boom?
