Market Comment
Mortgage Bonds are trading near unchanged levels and are off their best levels of the day as Stocks are trading lower in the early going.
Yesterday's Housing Conference on Capitol Hill went off without much fanfare as participants agreed that government assistance for housing must be reduced but not eliminated. Bill Gross, from PIMCO and one of the panelists, called for refinancing all mortgages backed by Fannie/Freddie/FHA that are paying 100bp above the current 4.5% market rate.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslowLicensed by the Virginia State Corporation Commission. License #: MC-5112, V2563958, MLO-4817VA
Yesterday's Housing Conference on Capitol Hill went off without much fanfare as participants agreed that government assistance for housing must be reduced but not eliminated. Bill Gross, from PIMCO and one of the panelists, called for refinancing all mortgages backed by Fannie/Freddie/FHA that are paying 100bp above the current 4.5% market rate.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslowLicensed by the Virginia State Corporation Commission. License #: MC-5112, V2563958, MLO-4817VA
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