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Rate Watch for Tuesday, January 20, 2009 - Inauguration Day

By Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv

Education & Training with REISA - 317-663-4173

January 20, 2009 04:05 AM

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Hey Folks!

Well the Inauguration is done. We have a new president but the financial markets don't share the same enthusiasm. So far this morning, mortgage backed securities, have opened down. Looks like Treasuries are pulling them lower. They are down big time today.

Now with no economic reports released today that will effect the markets mbs will take direction from the stock market and treasuries with treasuries the driving force. Things are a little higher today and looks like they will stay that way for the rest of the day. Float if you can.

Have a Great Day!
Tony Grego, Regional Sales Director with Amerisave
The Place with Great Rates!

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Gerry Khatchikian

Red Lodge, MT

ASA, TRC, SFR

Tony,

I was surprised to see this morning that the financial markets don't share the same enthusiasm. Not sure if the level of activity is much lower than average for the day but it seems odd to me that there is more selling going on this historic day. I am hoping there will be a late day rally like which we have seen so many times in the past few months.

Jan 20, 2009 04:19 AM

Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv

REISA - 317-663-4173 - Indianapolis, IN

Thanks Gerry,

Was hoping for the same thing. Looks like the markets don't share everyone enthusiasm

Tony

Jan 20, 2009 06:21 AM

Shawn Davis

Home Crossings, P.C. - Davison, MI

Homes For Sale, Genesee County, Michigan

I am also suprised to see the market today, however I think the inauguration has little to do with it, since the brokers have already taken in this information. I expect the market to go up in the next four years, and I have invested accordingly.

Thanks for the rates!

Jan 20, 2009 09:19 AM

Good for you Shawn.

I have posted and had long conversations that the market will be 7500 for the next year plus or minus ten percent. You are on the right track

Jan 20, 2009 12:24 PM

Denise Gray

Realty World Alliance - Wichita, KS

Realtor SRES, Wichita Kansas Homes

I'm just glad the day is over. I had a loan officer trying to convince potential Buyers that today was the day rates would his 4.5 (what a clown). Now that it's over and he has been proving wrong maybe they will be ready now.

Jan 20, 2009 02:06 PM

Elizabeth Harp, Notary Public Signing Agent

Ozarks Notary Services - Nixa, MO

I am a Notary Signing Agent, closing loans. Over the last couple of weeks I have witness the best loan rates I have ever seen since 1995. Most of the closings are ranging from 4.5% to 5%. These are the type of loans the borrower may never be able to justify a future refinance with. The rates are just too good!

Jan 21, 2009 04:43 AM

Thanks Denise. That is what I hate about this business and why I joined Amerisave. We still have to many brokers promising the star and moon and at closing it is a mess.

Jan 21, 2009 04:55 AM

I know what you mean Elizabeth. Last month has been great. But with Chase pulling back and an overall increase the group of folks that were trying to squeeze out that last 1/100 of a rate have missed it

Jan 21, 2009 04:57 AM

Rate Watch for Tuesday, January 20, 2009 - Inauguration Day

Comments(8)

Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv

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