Rate Watch 11-25-2008

The mortgage industry received some good news this morning. The Fed announces it will purchase direct obligations of housing-related government-sponsored enterprises (GSEs)--Fannie Mae, Freddie Mac, and the Federal Home Loan Banks--and mortgage-backed securities (MBS) backed by Fannie Mae, Freddie Mac, and Ginnie Mae. GDP reported inline with expectations. this news is helping to improve mortgae pricing.