Creating Wealth for my Family and Friends
Travis' Video Mortgage and Financial Market Update for March 19th
Hello Friends!
Talk about March Madness and I am not referring to college basketball! Yesterday our Federal Reserve and Fed Reserve Chairman Ben Bernanke shocked the markets and the world yesterday when he came out of their Fed policy meeting and announced the Fed is committed to buying an additional $750 billion in Mortgage Backed Securities on top of the $500 billion they committed back in December when rates plummeted below 5% and when they started purchasing on Jan 5th.
He also announced they would be purchasing $300 billion in US Treasuries to insure the value in MBS and that the shorter term treasuries do not become the better choice to invest with on a tightened spread between the two.
The market is taking a breather today but wow, the run on mortgage backed securities and the 10-yr treasury bond was like none I have ever seen and the largest gain on a 10-yr note since the market crash in 1987.
A lot to report on, please watch the video for more details on how this is ultimately going to translate to mortgage rates, inflation and capacity issues for our banks and investors.
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