Mortgage Blog

As we eagerly await the Senate’s vote on the stimulus package today, Secretary of Treasury, Tim Geithner, will reveal proposals for spending on the remaining TARP money. It will be interesting to watch as the financial sector reacts to these announcements. Meanwhile, Mortgage Bonds are higher this morning.

Also today, Federal Reserve Chairman Ben Bernanke will discuss the Fed’s liquidity efforts. Today the Treasury will auction $32B in 3 year T notes. The Feds also state that they are committed in buying $600B in mortgage backed securities. These events will have a major impact on stocks and bonds.

Trading this morning has been positive. Today’s recommendation is to float. However, watch closely as things can change very rapidly.

Randy Reed

(303) 524-9191