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Mortgage Rates
National Average   % Change
30 Yr FRM 3.87% 0.00%
15 Yr FRM 3.16% 0.02%
1 Yr ARM 2.78% 0.02%
5/1 Yr ARM 2.83% 0.03%
30 YR 3.09% 0.01%
Fed Prime 3.25% 0.00%
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Notice: 'Top News' and 'Fed and Economy Watch', have been combined into a new channel called 'MND Newswire'. Check back daily for the latest housing and economic news.

The new url for MND Newswire is http://www.mortgagenewsdaily.com/news/

Central Banks to Co-ordinate USD Open Market Operations for Q1 2009

In another co-ordinated central bank move, the Fed, ECB, BOE, SNB, and BOJ are planning another round of U.S. dollar liquidity provision in Q1 2009, announcing three 28-day TAF auctions and three 84-day operations in the first quarter of 2009.

The Fed will be conducting U.S. dollar 28-day TAF auctions on Jan. 12, Feb. 9 and March 23, and the 84-day TAFs will be held on Jan. 26, Feb. 23 and March 9. There is no indication on the press release of the amount the Fed will offer but recently such offerings have been worth $150 billion.

A press release from the ECB also suggests that given the limited demand for euro/USD FX swaps, such operations will be discontinued in January.

The Bank of England said that demand for U.S. dollar loans is falling, but plans to continue with the refinancing ops as long as necessary.

By Erik Kevin Franco and edited by Nancy Girgis
©CEP News Ltd. 2008

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.85%
  • |
  • 15 Yr FRM 3.23%
  • |
  • Jumbo 30 Year Fixed 4.10%
MBS Prices:
  • 30YR FNMA 4.5 106-26 (0-02)
  • |
  • 30YR FNMA 5.0 108-06 (0-03)
  • |
  • 30YR FNMA 5.5 109-01 (0-02)
Recent Housing Data:
  • Mortgage Apps -1.01%
  • |
  • Refinance Index 0.83%
  • |
  • NAHB Builder Confidence 16.00%

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.85%
  • |
  • 15 Yr FRM 3.23%
  • |
  • Jumbo 30 Year Fixed 4.10%
MBS Prices:
  • 30YR FNMA 4.5 106-26 (0-02)
  • |
  • 30YR FNMA 5.0 108-06 (0-03)
  • |
  • 30YR FNMA 5.5 109-01 (0-02)
Recent Housing Data:
  • Mortgage Apps -1.01%
  • |
  • Refinance Index 0.83%
  • |
  • NAHB Builder Confidence 16.00%
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