Mortgages costs fell this week, and according to data from Fannie Mae, Freddie Mac, and Ginne Mae, it could be due to a recent increase in agency mortgage bonds last week. Experts say that bond values are ascending due to the falling long-term Treasury rates, helping the cost of mortgages to decline. Sterne Agee analyst, Henry Coffey said, “the expected gains in agency bond values and related boost in book values should show up in the March period if treasury rates remain low and bond values hold at current levels.” More here
