Thursday, March 19, 2009

Fed to buy $1.25 Trillion in mortgages



The Fed announced that they will be purchasing $1.25 Trillion worth of mortgages from Fannie Mae and Freddie Mac, in an effort to further lower interest rates and take additional loans off the books.

Add this on top of a record low 4.89% for a 30 year fixed set last week (conforming loans, presumably) and yet another piece of the real estate recovery is now in place.

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