Mortgage Rates Drop

Yesterday the Fed announced they were going to buy $300 billion worth of long term treasuries which caused the yield on 10-year Treasuries to fall more than any time since they started keeping records in 1962.

Warehouse lending is drying up and increasingly more loans are being submitted through FHA because the government just keeps printing money in order to keep the credit market alive.




Disclaimer:This is a personal web site, reflecting the opinions of its author. It is not a production of my employer, and it is unaffiliated with any NASD broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.