Mortgage Rates Improve While the headlines were focused on the poor performance of the stock market, mortgage rates improved moderately during a volatile week. Mortgage rates were helped by a couple of factors. Seeking to reduce risk, investors sold stocks and moved the funds into relatively safer Treasury bonds and government guaranteed mortgage backed securities. […]

Congress Passes Rescue Plan All eyes were on Congress this week as they debated the financial rescue plan. Fed Chief Bernanke and Treasury Secretary Paulson proposed the $700 billion plan to purchase troubled mortgage assets from financial institutions, providing the institutions with much needed capital. The expectation is that the institutions will use the freed […]

So the next question is …
What’s the $700 billion really going to cost us?
No one knows for sure. But I’m going to take some guesses here.
First, if you buy the line that the Treasury is aiming to make money on the bailout, on behalf of the taxpayers — you and me — think again.
Since real […]