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Video Mortgage and Financial Market Update for Nov 13th

By
Mortgage and Lending with Caliber Home Loans CHL NMLS# 15622 CHL NMLS# 15622
Hello Friends, Well it has almost been a week since I have done an update and unfortunately no news was not good news. I have a new and much deeper appreciation for what my wife does on a daily basis with our kids and home as she was gone for a week in Mexico and I actually thought I would be able to work and run a home, not so much. No way to sugar coat it, things are ugly. The DOW just dropped to multi-year lows, a 1500 point drop alone since last Wednesday after the election and the initial jobless claims came out today for the week much worse than expected, suprassing 500k unemployment claims LAST WEEK alone! The ongoing claims are at 3.9 million, a 25 year high! Also, 3rd quarter earnings and 4th quarter projections continue to come out with very little good news. Like I do at family dinner at my house, we do "low-high" where we go around and share our low point of the day and end on our high. Well to keep with tradition, I will end on a high. Mortgage rates should continue to drop because of unemployment and lack of consumer confidence. This causes people to spend less and save for those that do have jobs, so it keeps inflation at pretty much a non-factor. Also, oil continues to drop on a down escaltor and is coming up on $100 drop from July alone. We should all see gas prics below $2 soon if not already in some of our communities. Please watch the video fo more details. Be Blessed!

Comments (1)

Richard Ives
Chicago, IL
Welcome back Travis. Thanks for the update. Have a wonderful day!
Nov 13, 2008 05:42 AM