This week, Consumer confidence hit an all-time low and 100,000 Americans were laid off last week, each of these events played a role in the mortgage market's decline.

For the 3rd straight week, mortgage rates moved up coupled with average loan fees increasing, as well.

However, seemingly lost in all of the negative economic news.  There were two bright shining lights worth looking into and discussing.  They show that we may be closer to a recovery than previously expected.

1. the supply of "used" homes for sale fell from 11 months to 9 months nationwide, and NW Indiana is a little better than that.  The good news is thatIndiana home buyers are coming back to the housing market in force, a sign that home prices are nearing a happy medium.
2. the nation's GDP -- a measurement of the country's complete economic footprint -- did not fall as much as the experts had predicted.  A surprise as positive as this one, me wonder "what else the Doomsday Economists may be wrong about", and what I have been right about.

For more information, head on over to the Mad Mortgage Mortgage Machine for video and the rest of the story

The market expect the economy lose a 500,000 jobs last month

I just had to play this video...