 |
||
|
|
||
Good Morning Everyone Stocks moving higher in anticipation of a yes vote on the rescue plan this afternoon. Mortgage Bonds trading sideways meaning bonds were up, down, up again, down again and now are near unchanged levels. Oil at $94 a barrel. Today's Interest Rates Conforming 40 yr Fixed------ 7.125% Conforming 30 yr Fixed-------6.000% Conforming 20 yr Fixed-------6.125% Conforming 15 yr Fixed-------5.875% FHA 30 yr Fixed------------------5.875% VA 30 yr Fixed--------------------5.875% Reverse Mortgage for those 62 years or older-----Fixed HECM 6.06% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News The Labor Department reported this morning that 159,000 jobs were lost in September. This is much worse than the 105,000 lost jobs that economists were expecting. Normally, Bonds would move higher on the news; however, speculation that rate cuts may be coming in the future has Bonds bouncing around a bit. Also adding to market movement this morning is speculation about the passage of the rescue plan by the House of Representatives, which is pushing Stocks higher. Overall, Mortgage Bonds are trading in wild fashion between important levels of resistance and support. I recommend floating while we await the rescue bill vote later this afternoon. I will let you know if the situation requires a change in course. Today's Quote We are rich only through what we give, and poor only through what we refuse. Anne-Sophie Swetchine |
||
[