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House Passes Home Buyer Tax Credit Extension. Obama to Sign Friday
The House of Representatives has voted to pass legislation extending the first time home tax credit until April 30, 2009.rnrnLast night the Senate voted 98-0 to pass the legislation. Next the bill will head to President Obama to be signed into law.
Despite Less MBS Purchases, Fed Still Helping Keep Mortgage Rates Low
In the five trading days between October 29 and November 4, the Federal Reserve purchased a total of $16.00 billion agency MBS. A gradual slowdown in daily purchases is expected to continue as the Federal Reserve wanes the mortgage market off it's support. However, up to this point the steady withdrawal has yet to affect the performance of MBS coupons versus benchmarks. This is a function of a generally slow pace of new loan production. In fact this past week, the Federal Reserves participation helped "rate sheet influential" MBS coupons greatly outperform their benchmarks. Thank the Fed that mortgage rates
House Passes Home Buyer Tax Credit Extension. Obama to Sign as Soon as Friday
The House of Representatives has voted to pass legislation extending the first time home tax credit until April 30, 2009.rnrnLast night the Senate voted 98-0 to pass the legislation. Next the bill will head to President Obama to be signed into law.
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