I'm surprised there isn't a post about this. The Fed announced QE3 today.
http://www.foxbusiness.com/economy/2...-decision-qe3/
This has caused a major rally for Mortgage Backed Securities leaving us at all-time highs. Closing up at 130bps which is about double what a normal "major" rally sees. (Closing up means rates go down).
Stocks also soared with the DOW up over 200 points.
That's great news for borrowers as this will drive rates down even further.
Speaking of which, if you've thought about refinancing or you're buying a house... give me a call! We're a bank with whole sale rates and below average fees, plus CSC discounts.
719-325-7484
Justin