There were no economic reports scheduled for release today, however at 1:30pm ET, Dallas Fed President and voting Fed member Richard Fisher was scheduled to speak. I kept an eye on him, because the last time he made comments concerning inflation, he shook the markets sending mortgage Bonds to a -200bp decline.
I have included a couple of quotes that will give you an idea of today's event.
"The 12-month number for the CPI is running at a very high level ... and the components of that (rise) are worrisome," Fisher said, referring to the U.S. Consumer Price Index.
"There are some risks that we're seeking to manage but it may be that economic growth will be even slower than we envision," he added in regards to the current economic environment. It was interesting to see the markets reaction prior to Fisher's comment... Currently the Mortgage Bonds dropped to lows for the day.
If you buy, sell or refinance real estate I just want to tell you that, now is the time to join efforts, we ought to be strategic in order to come up with financial solutions to secure deals ahead of potential changes in the market place. Real estate veterans would agree with me when I say that lately prices have been very volatile in the mortgage market. Do you agree?
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