The Veridian Blog

http://finance.yahoo.com/news/Bonds-surge-after-Feds-cnnm-14681345.html

What this means to the mortgage markets:

The initial reaction is extremely positive and aggressive, particularly for traditional conforming loans of $417,000 or less.  Similar to the situation last November when the Fed made a surprise announcement of its support of Fannie Mae, rates tumbled quickly and swiftly.  We'll see how long it lasts.  If you have been waiting on the sidelines, please send in your paperwork asap - the underwriting queues were already long and now lenders will be flooded again.  Thanks in advance for your patience while we navigate through these unprecedented times...

Thanks!

R