FNMA 4.5% lost 19 points and the DOW up 37 points.


NO treasury auctions next week...

Feds purchased almost 26 billion in mortgage backed securities and an announcement was made today that they may not actually spend ALL of the money that was earmarked for the Mortgage Backed Security Program. (Committed to spending 1.25 TRILLION dollars...and have spent about 794 Billion dollars.)


GDP shrunk again by about 1%...which is a fairly large number based on the dollar amounts our economy is dealing with. There have been several shrinking quarters in a row...but things appear to be shrinking "slower" at least according to analysts.

Rates on the 30 year are in that 5% range for fixed mortgages.

Have a great eve!

Chad