Florida Mortgage Trends

89% of Funding Used

January 11th, 2010 11:53 AM by Scott Bray

 

     If your looking for lower rates to purchase or refinance a Home - I would recommend buying your home by the end of March.  The US Gov't has been supporting the mortgage interest rate market since last year & their 'wallet' is about to empty.  So take it from me - you have 90 days left to make your move!!

======As Reported by Adam Quinones===========================

The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the holiday shortened work week between December 31, 2009 and January 6, 2010, the Federal Reserve purchased $14.50 billion agency MBS. In those four days the Federal Reserve sold $2.50 billion (supported the roll market) for a net total of $12 billion purchases.

The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program. The program includes, but is not limited to, 30-year, 20-year and 15-year securities of these issuers.

Since the inception of the program in January 2009, the Fed has spent $1.122 trillion in the agency MBS market, or 89.8 percent of the allocated $1.25 trillion, which is scheduled to run out in March 2010.

Posted in:General
Posted by Scott Bray on January 11th, 2010 11:53 AM

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