Mortgage Rates Drop 1/4 Point In 24 Hours
One of the potential benefits from the Freddie/ Fannie bailout could be lower mortgage rates.
If the past 24 hours is any indication, things are certainly moving in the right direction.
Yesterday, the spread between the 10 year T-Bill and 30 year conventional rates dropped by 27/100ths of a point, and mortgage rates effective dropped around 1/4 point to 5.88% according to bankrate.com. This is a welcome relief from the July 23rd high of 6.51%.
More:
Mortgage Bonds Rally Following U.S. Seizure of Fannie, Freddie (Bloomberg)
If the past 24 hours is any indication, things are certainly moving in the right direction.
Yesterday, the spread between the 10 year T-Bill and 30 year conventional rates dropped by 27/100ths of a point, and mortgage rates effective dropped around 1/4 point to 5.88% according to bankrate.com. This is a welcome relief from the July 23rd high of 6.51%.
More:
Mortgage Bonds Rally Following U.S. Seizure of Fannie, Freddie (Bloomberg)
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