Stocks Rise and Bonds Move Up as House Passes Home Buyer Tax Credit Extension

A&N Mortgage Logo5 November 2009 ?Bonds opened up 19bps today and have remained strong well into the afternoon with a day change of up 18bps. With a day to absorb yesterday?s news that the Fed will keep interest rates near zero, mortgage bonds have bounced back significantly today. It is expected that the Mortgage Backed Securities program will remain a good investment until the end of the first quarter. The House approved an extension and expansion of the $8000 first-time home buyer credit this afternoon. This decision is certainly aimed at further stimulating real estate and aiding in its recovery. The stock market was strong yet again with the Dow Industrial Average topping 10,000 and the NASDAQ and S&P 500 up nearly 2% each. Today?s market has been fueled by the tech and health sectors, including by Cisco Systems and Qualcomm who announced their third quarter results. Friday is always a wild card day for the stock market as many investors decide whether to hold or sell their assets before the weekend. Mortgage Rates bounced back and are still strong at 4.875% (4.910 apr) on the 30 year and 4.25% (4.309 apr) on the 15 year.

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About Chris DePaepe

Chris is a lifelong Chicagoan who was born and raised on the Northwest side. She has a business degree from Rosary College in River Forest and a MBA in finance from DePaul University. She has been in the mortgage industry since July of 1996 and understands the importance of educating clients about the process of purchasing or refinancing a home. Chris?s education and customer service separates her from her competition, from taking an application at 11 p.m. to doing a closing in the convenience of your home, customer service is her #1 priority! With her extensive financial education she is able to pass along critical information to potential clients about mortgage interest and the differences between a 30, 25, 20 and 15 year loan. Chris will run every amortization chart and spend a great deal of time explaining the savings on your mortgage interest by showing actual examples. Also, most first time buyers do not understand the tax advantage of owning a home and she will break that down and show the actual tax advantage of owning a home versus renting. Chris prides herself on taking the time to fully educate every buyer so they are aware of the process from the beginning to the end without any surprises. Whether you are looking to refinance or purchase a home, understanding today?s market is extremely important to getting your loan approved. You can contact Chris 24/7 at, 773-305-7016, or 773-848-4144.

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