Fed Starts Buying Mortgage Bonds

Today the New York Federal Reserve Bank started buying mortgage backed paper. This translates favorably for consumers as it helped to push bond prices up which translates into lower mortgage rates. In addition, minutes from the recent Federal Reserve meeting show the Fed is still concerned about the economy and is dilligently working to fight off a depression.

All of todays news translates into mortgage pricing looking better. Rallies like this have been short lived. If you haven't done so already, now is a good time to get your application in so we can get moving for you.

If you have an application already in, we are dilligently working to touch base with everyone as quickly as possible. We appreciate your patience and look forward to speaking with you soon.