YOUR Mortgage Minute -- March 23, 2009

Good Morning.

Here's to the start of a FABULOUS week.

Stocks are trading higher after Treasury Secretary Geithner unveiled a plan to remove toxic assets from financial institutions using money from the $700 Billion TARP fund. The government will mitigate the risk by offering private investors billions of dollars in low-interest loans to finance the purchases.

Also today, the housing market received good news when the Existing Home Sales came in stronger than expected. And, the US Dollar received a boost when China said it will continue to purchase US Treasuries, despite saying last week they were concerned about the value of those Treasuries.

Currently, Mortgage Bonds are attempting to stabilize after losing some ground late last week. For now, I recommend CAREFUL floating. But be prepared to lock if the situation changes. I will certainly keep you posted as the situation warrants. In the meantime, I truly hope that you have a great rest of your day. If there is ever anything that I can do for you, please let me know.