Contact me for a rate quote!

With no economic reports on deck for today, the Stock and Bond markets are being driven by headlines from financial bellwethers reporting major losses in their mortgage holdings.

Headlines such as:

- The departure of Stan O'Neal; Merrill Lynch's CEO. Let's not forget just a few weeks ago, Merrill Lynch wrote down $7.9 Billion in CDOs. And talk about a going away present...Stan O'Neal was awarded a hefty $160 Million dollar retirement package.

- And let's not forget the recent departure of Chuck Prince; Citigroup's CEO.

So what does all of this have to do with interest rates? So far, the Bond market has been performing well. As Bond prices stay up, interest rates will stay down. But, Stocks do appear poised for a rebound from recent losses. So although we maintain our position to cautiously float, check back for a reversal to lock.

™

Mortgage Advisor 

Copyright © 2007 Ricardo Bueno | All Rights Reserved

Direct: 323.810.2175 | Email: rb (at) ricardobueno (dot) com

www.ricardobueno.com | www.industry-report.com