NEW NUMBERS TODAY
In this week's money market recap, this is what we read:
"The Treasury Department shook the markets temporarily on Thursday, announcing a plan to stimulate home sales by lowering mortgage rates to 4.5%. But upon further review, a wait-and-see attitude prevailed."
"A substantial drop in mortgage rates during the week ended Nov. 28 due to the news that the government would buy GSE debt and mortgage-backed securities was a boon for mortgage applications. According to the Mortgage Bankers Association, purchases climbed 38%, while refis exploded, jumping 203.3%."
We're already seeing historically low mortgage interest rates, but we're still having some trouble getting the mortgage lenders to let go of the money. Local lenders are more secure at this point.
http://www.johncmartin.com/ and Tyler Texas Real Estate.
"The Treasury Department shook the markets temporarily on Thursday, announcing a plan to stimulate home sales by lowering mortgage rates to 4.5%. But upon further review, a wait-and-see attitude prevailed."
"A substantial drop in mortgage rates during the week ended Nov. 28 due to the news that the government would buy GSE debt and mortgage-backed securities was a boon for mortgage applications. According to the Mortgage Bankers Association, purchases climbed 38%, while refis exploded, jumping 203.3%."
We're already seeing historically low mortgage interest rates, but we're still having some trouble getting the mortgage lenders to let go of the money. Local lenders are more secure at this point.
http://www.johncmartin.com/ and Tyler Texas Real Estate.
posted by John and Flo Martin at 6:21 AM
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