MBS Week Ahead: MBS Welcomes Fed Buying Back With Open Arms

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Posted To: MBS Commentary

If you haven't seen the details of the over-the-weekend emergency Fed announcement, read this: http://www.mortgagenewsdaily.com/mortgage_rates/blog/938839.aspx . If you need a piece to hand out to people who don't understand what this actually means for mortgage markets (or if that's you, which is OK too), read this: http://www.mortgagenewsdaily.com/consumer_rates/938844.aspx . If you don't click links (and you should make an exception with the above if you said "yes" to either question), here's the gist: The Fed was going to cut rates to zero this Wednesday and announce a QE package, but they did it via emergency meeting/announcement on Sunday The QE package included plenty of Treasury purchases, but also threw a bone to MBS $200bln of new MBS purchases + $20bln…(read more)

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