Global markets improved overnight apparently in reaction to the actual free up of the 700 Billion for distribution and in hopes of whatever the FED rate cut may be. US markets also opened much higher but have settled back a bit after the CONSUMER CONFIDENCE INDEX indicated the lowest level ever since the statistic was first tracked. HISTORIC! To top it off, home prices once again set record losses. More HISTORY made!

While neither of these reports were real surprises, the CCI's drop was steeper than expected month over month, further endorsing a state of recession. But, it hasn't yet been felt in trading today. Investors must really be looking to act on glimmers of hope from the upcoming Fed Meeting and from announcements from various lenders and corporations who will avail themselves of the BAILOUT BUCKS.

I do hope some of you locked with yesterday's window. Rates began to increase yesterday afternoon before the market sold off and they leveled off. However, pricing is rising again by at least .25 Basis so far this morning as there is less demand for Treasury Notes with the day's sentiment focused on stock gains.

THIS IS MY OPINION ONLY AND NOT THAT OF EAGLE NATIONWIDE MORTGAGE CO. ALWAYS CHECK WITH YOUR MORTGAGE PROFESSIONAL REGARDING YOUR TRANSACTION