Monday Mortgage Call...and Happy Holidays!

Good morning... 
I hope you had a nice weekend. It seemed to go very 
quick for some reason. I guess spending money on 
gifts can do that! 

On today's call: Markets, Housing, Interest Rates 

 - The markets opened today relatively quiet, with the 
     Dow down about 40 points as of now. The House 
     Republicans are voting down the proposed payroll 
     tax cut and suggesting it be extended for a full year. 
     I agree! Kim Jong II passed away and this has big 
     implications with our N. Korean relations. But so far it 
     hasn't been a market mover. 

 - As we get closer to 2012, it seems like many indexes 
  we're used to are showing improved numbers, both 
   year-over-year and month-over-month. The National 
   Association of Home Builders' Housing Market 
  Index rose for the third straight month, indicating that 
   they believe there will be a surge in potential buyers. 
  Other housing-related indexes coming out this week are 
   expected to show improvements. There are still many 
   hurdles to cross in lending, unemployment/job security, 
   and consumer confidence, but this is positive news 
   as we head to the end of the year. 

 - Interest rates remain mostly unchanged from last week. 
   The 30 year fixed is around 3.875% with 0 points for 
   purchases. Jumbo's are still in the mid-4% range. 
  ARM's are looking very good, with rates anywhere 
   from 3.375% to 2.5%! 

I hope you have a great week...Happy Holidays!