Posts Tagged ‘ bear stearns ’

National Mortgage Rates Report- March 21, 2008

Financial markets are taking pause today in honor of Good Friday. It was another dramatic week with Ben Bernanke playing John Wayne.

Last weekend, Bernanke brokered a deal that handed Bear Stearns over to Jamie Dimon and JP Morgan Chase.

Last week, a share of Bear Stearns traded for thrice the price of the monthly HomeGain AgentEvaluator subscription, this week, it trades around the price of a Starbucks cup of coffee.

Fannie Mae and Freddie Mac agreed to buy a lot of mortgages, $200 billion worth to be precise. This buoyed up the mortgage bonds market and had a positive effect on most mortgage rates.

Let’s lock those rates, now.

I don’t see a whole lot more reward on the horizon and the risk of higher rates will increase next week.

ARM rates are out of whack, again, and the fixed-rate mortgages are the best priced. Continue reading this post

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Posted by: Brian Brady on March 21st, 2008 under Financing, Mortgage and Home Loans

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