TARP Redirect Plunges MBS
- By:
- Bill Rice | Thu, 11/13/2008
Get widgets
PDF
Print
del.icio.us
Digg
RSS
US Treasury Secretary Paulson's sharp redirection on the objective of the TARP funds had a dramatic effect on overnight markets and the MBS market. Abandoning the original plan to buy troubled mortgage assets and refocusing on other "non-bank" asset classes like credit cards and auto. This immediately dropped the bottom out of non-agency MBS, consisting mostly of subprime, non-agency, mortgage securitizations. This is likely to send mortgage rates down sharply today as spreads widen--treasuries heading higher and MBS heading lower.
Get Mortgage Rates
National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
Browse Mortgage Rates
Featured Guides
Browse our comprehensive guides to popular topics related to mortgage and personal finance.
