Professional Home Staging and Photography Blog: Mortgage Market Update - February 23, 2009

Mortgage Market Update - February 23, 2009

Prices of Mortgage Backed Securities (MBSs) and Treasuries eventually reversed course this morning after initially falling in early morning trading as investors await new news on the government's bank bailout and mortgage rescue plans.

The U.S. will sell a record $94 billion worth of T-bills this week. Additionally, the government has pledged more funds to prevent the collapse of major banks. This will lead to the sale of more T-bills, and the increased supply is already putting an upward pressure on interest rates. So far, $9.7 trillion has been earmarked to combat the financial crisis, and that will probably lead the government to borrowing $2.5 trillion this fiscal year.

The Treasury auctions, Ben Bernacke's testimony before the Senate Banking Committee on Tuesday, as well as any new information about government bailout programs will have a major impact on the mortgage market this week.

 

East Bridgewater, MA 02333
Phone: (508) 443-1332

Lew Corcoran, ASP®, IAHSP, IAHSP-CB
Accredited Home Staging Professional
Professional Real Estate Photographer

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Comment balloon 0 commentsLew Corcoran, ASP® • February 23 2009 09:56PM

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