Nevada City Virtual Tour

Monday, September 5, 2011

Mortgage bond market activity, Obama, and Short Sale connection

The market for mortgage backed securities is increasingly volatile this week as a dour economic outlook fans speculation that our government will come to the aid of homeowners who have been unable to take advantage of record low interest rates.

Traders reported very volatile trading recently in some MBS (mortgage backed securities) amid speculation that the Obama administration would remove at least some hurdles to refinancing for borrowers with weaker credit and whose loans are underwater.
The administration has been weighing numerous options to stabilize the battered housing market–a key source of weakness in the economy.

So if you still have some kind of job, there might be hope. Let's hope something gets done here that the Placer and Nevada County housing market can actually use.

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