Tuesday, April 22, 2008

Existing home sales came in lower than economists expected today at 4.93 million. It was expected to be 4.95 million. The national median home price also dropped to $ 200,700, still not bad for U.S. Other news in the market is a mixed bag, with the most annoying economic news today being oil passing $118 a barrel.  Investors are working more from the DOW and oil today, and trading more on emotion than statistics.  The Bond is currently down, but has been up for most of the day today. The FHA 15 year is higher today than the 30 yr fixed, giving you more of an example of the current market volatility.  As always if anyone has any questions or comments, please feel free to call.

Karl Menzer

435-849-0212

Http://www.karlmenzer.com