No confirmation here; but if you get my monthly email newsletter, you saw that I was predicting that mortgage rates would be improving, based on the tightening I was observing between the 30 year fixed rate MBS (Mortgage Backed Security), traded on the bond market, of course, and the 10 Year Treasury note.
By the way, if you don’t subscribe to my newsletter, just look to the Right, and fill in the blank with your email address. It’s FREE! And I think you’ll like it.
Well, I was watching the financial news this evening, and one of the commentators noted that MBS were getting better, and cited a rumor that the Fed was beginning to buy Mortgage Backed Securities. Well, you can imagine I sat there and hit my forehead like I should have just had a V-8, and said to myself, “Duh, of course that’s why they’ve been improving.”
Then, I went and poured myself a glass of wine. (Picture: Forehead hit; words, including something about a V-8, and a really nice glass of Chardonney).
Related posts:
