Tuesday 11/25 …Forget the Data
By:
Victor Burek
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Sorry for such a short post today. We are getting some economic data, but it doesn’t matter this morning. Just say hello to low rates.
The government just announced a $500 billion purchase of mortgage backed securities. This news alone has caused rates overnight to drop by almost .50%, that right a half of 1 percent. If you have been waiting to buy or refinance, now is the time. Lenders will be swamped with business, so get your loan in.