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AMERICA HAS SPOKEN-DID YOU?-Mortgage rates for Wednesday 11-5-08

History was made as AMERICA spoke loudly yesterday. I don't think any of us were really surprised by the outcome, but I didn't think the difference in POPULAR VOTE would have been that wide. There was no question that the electorals would have had the wide swing they did. Even if your candidate did not win, DID YOU EXERCISE YOUR RIGHT TO VOTE?

The BIG election day rally may be reduced with today's action if investors look to cash in on some of their gains. The 10 yr note bucked the general trend of yield increase with market surges yesterday as DEMAND for the longer term safety bond was also steady. The previous day's open was 3.94% and close was 3.76%-that's almost a 2 tenths drop in yield. The last of many rate changes I saw yesterday showed the best fixed 30 yr back at 6% and the 15 yr at 5.625%. They can be bought down by roughly 1/2 PT.

So keep on eye to see where the "MOOD SWINGS" today and how much selling for profit occurs. CAN ELECTION RALLY CONTINUE?

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

Posted by James Bowen on 11/05/2008 07:16 AM

Comments (5)

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5 Comments on AMERICA HAS SPOKEN-DID YOU?-Mortgage rates for Wednesday 11-5-08

NOV

2008

YES I did! I was eager to vote for several reasons.... and yes one was because of history. But mainly because I believe that Obama hit on the main issues and has a plan (hope) for all Americans, not just the fortunate.

He represent the majority (which includes the minorities), and he represent the majority (ALL)
He is brave to take on USA when it is at its worse
Bush administration messed us up something bad and if McCain had been elected, he would continue the "mess up" and would not have cared, been affected or stopped it. The Bush administration failed the American people. We are just lucky this was Bush's last year!! What if... he had 2 more years? Where would we be heading? How could it have gotten any worst before people (all people) stand up and say ENOUGH. Tonight most of us did stand up and say E N O U G H. This is our victory.
Obama cares, he is smart, he is calm and he is professional (a good representative of what USA needs)
For once the have get to keep what they have (except for the small tax issues) and the ones that work hard but get very little in return will get a little more (from the taxes) and will be able to refurbish their hope and pride in the USA
Its a beautiful thing and for those that don't see it now: Just think how bad the minorities have felt all these years of being looked down on, being stepped on and for always being the under dogs.
Its a beautiful thing and I am not sure there are words. And I believe in time, more and more will see that this was a good, good victory.

We believe will we see buyer activity pick up now.

i was dreading long lines yesterday, but was pleasantly surprised at no lines. I proudly cast my vote for a a promising change.

JAN

When are you coming back for 2009 with your daily blog?

Hey Leo:

It's been a rough few weeks for me and my family---lot's going on----sorry I haven't been posting, but I do plan on beginning again this week. Stay tuned. Are you a mortgage professional or a well versed consumer?

Contact me off line if I can help you in any way.

Thanks

James Bowen

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