There is a lot on tap for today's market investors. The Big news of the last couple days is if the Treasury will dip into the Bailout Bucks and hand over 25 BILLION to keep the automakers afloat. Since the treasury changed their mind about using the money to buy bad loan debt, is it in the Country's best interest overall to save the BIG 3? After all there are a million plus jobs at stake and many more indirect economical issues that could arise. The BIG 3 and the Head of the Auto Workers Labor Union are all going to the Hill today to appeal for a piece of the bailout pie. This does not have the support of the Republicans on the Hill , so unless there is a change in strategic opinions, it probably will not happen during the remainder of this Administrations Term.

The 25 Billion dollar question is whether it SHOULD HAPPEN. What do you folks think?

Other news that will play a big factor in today's market mood will be the labor departments release of Producer Prices, the National Association of Realtors 3rd quarter sales and price report, and the National Association of Home Builders monthly data. Most of this news will not be a big surprise, but with weeks of wild Market swings, who knows how this will affect the day's activity. Citi has also announced another HUGE cut to workforce with half in the USA and half in other countries. HSBC joined in the job cutting spree with 500 jobs lost in Asia. It is becoming clearer and clearer that this economical catastrophe is truly Global.

Treasury Note interest will be high again today. Yield was up and down yesterday, finally settling down .03 to 3.68%. Trading today has already been high which has dropped yield another .04% and this trend is likely to continue.

There may an opportunity to lock lower today as a result of safety buying in Treasury Bonds. Keep your eyes open and and check with your Mortgage Professional.

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