Mortgage Market Report for Friday November 30, 2007

Big Ben Bernake spoke last night and his tenor indicated that there would be a rate cut.  Also a tame inflation report this morning from the PCE Personal Consumption Expenditure showed that inflation is in line at under 2% annually.  A Fed rate cut is basically in the bag for December 11^th.

The stock market is still in rally mode as they factor in a rate cut.  Now we focus on  the jobs report that will be out next Friday to determine how much. 

The mortgage bonds are pressed to a double ceiling of resistance and it looks like a good time to lock and take advantage of the recent gains. 

Thank you for listening to contactherrick.com .   We will have another report for you, your family, your friends and your important business contacts tomorrow

A quote from Lois McMaster Bujold

"If you can't do what you want, do what you can."

Thank you.

Roger Herrick

Mortgage Broker

http://www.contactherrick.com/