Bonds are up 118 bps …and rising. Holy Smoke! Hard to imagine rates getting even lower…….

NEWS ALERT!!!!!

 Bonds are up 118 bps …and rising. Holy Smoke! Hard to imagine rates getting even lower…….

Thu, Sep 13 - 3:20 PM ET
The 3% coupon hits a fresh all-time high of 104.44.

2:33 PM ET - With a 1.70% rise in the S&P today to 1,460, it is now only 6.7% off its all-time of 1,565 hit back on October 9, 2007.

2:32 PM ET - Bernanke says that the latest round of Bond buying to lower rates.

2:27 PM ET - Bernanke says the Fed can't solve the economic problems alone, urges other officials to act.

2:20 PM ET - Stocks soar after the QE3 announcement - the Dow is up 180 points.

2:19 PM ET - Bernanke says the new MBS purchase program should support the housing sector.

1:16 PM ET - The benchmark 3% coupon is approaching its all-time high of 104.41, now at 104.0

Pat Holsten

Regional Vice President

Senior Mortgage Banker

NMLS ID 90584, NC 105585, VA MLO-7593VA, SC MLO-90584

American Security Mortgage

1015 Ashes Drive, Suite 100

Wilmington, NC 28405

910-239-5308 (direct)

888-412-3334 (efax)

910-471-1617 (cell)