Revitalizing Housing

In the past six weeks, the yield on the 10-year Treasury note has declined from a near-term peak of 3% to today's current level of just below 2.5%. This has allowed 30-year fixed mortgage rates to decline as well, and by an even larger margin as the spreads for Agency debt over Treasuries have declined by an even larger percentage.

Six weeks ago, the par rate for a 30-year fixed rate purchase money mortgage was about 5% on average across the spectrum of government guaranteed (FHA/VA) and government sponsored (Fannie Mae/Freddie Mac) mortgages. Loans for amounts above the limits specified for each of these categories were about 50 basis points higher....581 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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