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Post by jeffolie on Sept 20, 2007 15:29:21 GMT -6
Mortgage rates rose after the Fed rate cuts.
Mortgage rates generally follow the 10 year notes and libor rates. The mortgage rates jumped after the fed rate cuts to 6.00%.
This unintended consequence happened as investors judged that inflation would rise.
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Post by jeffolie on Sept 20, 2007 17:34:12 GMT -6
NEW YORK, Sept 20 (Reuters) - The average rate on a 30-year U.S. mortgage with no upfront points rose 1/8 of a percentage point on Thursday to 6-1/2 percent, according to BestInfo Inc.
If the mortgage market on Friday continues in its current direction, rates may rise.
The 30-year mortgage rate with one upfront point rose 1/8 of a percentage point to 6-1/4 percent.
The 30-year mortgage rate with two upfront points rose 1/8 of a percentage point to 6 percent.
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Post by Ken on Sept 20, 2007 17:39:45 GMT -6
It wasnt too long ago that Paulson went to china to sell MBS's to the Chinese. They elected to partner with Blackstone. Its pretty obvious that the risk has pushed them to equities. They are gonna want a bigger return
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Post by unlawflcombatnt on Sept 21, 2007 2:03:37 GMT -6
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