FNMA 4.5% lost just 9 bps today after being down as many as many as 56 bps during this turbulent session.

The t-note auction was rated a "B" this afternoon...and the Fed's meeting notes helped to drive a recovery from the sell off that happened after the poor auction results.

Feds announced that they will continue to purchase mortgage bonds until the end of the year...and that they will cease purchasing treasury notes in October.

Rates got a little worse today but are still in the 5.5% range...30 year fixed conventional loans.



For those in the Bozeman Area see the note below from my friend Jennifer Erickson...


HI Everyone,

an upcoming opportunity in the community is a Wii Bowling Tournament that the Gallatin Valley Mall is putting on August 25th, 26th and 27th from 5:30 - 8:30pm, it is $10.00 to compete and they are donating funds to Big Brothers Big Sisters, we are going to have a booth there as well during the tournament to raise awareness about Bowl for Kids Sake.

Which if you could let me know if you are going to bowl this year that would be great. Chad and i were talking and we could probably get 2 teams this year if we invited spouses and kids to come also. Debbi and Calli are already signed up on team 1 for Metlife, who else would like to join the 3 of us at 4pm on Friday afternoon Sept 18th? If the other team would like to bowl at the same time we need to get that in on the calendar. I will have sign up sheets and pledge sheets for everyone in the next week.

Let me know! It's a lot of fun :-)

Best, Jenny