Panic in the markets!

Mortgage and Lending with First Eastern Mortgage Corp.

"Panic" is how a few reports summed up the markets yesterday. Despite the S&P downgrade on US debt, Treasuries remained the go to safe haven with 10-year notes surging almost 2 points and dropping the yield to 2.34%, its lowest level since January 2009. The Dow, on the other hand, plummeted over 600 points or 5.5%. Investors are becoming increasingly bearish about global growth and the prospects of another recession and the continuing uncertainty in the EU. MBS prices closed higher by roughly .75 and .5 on 30-year 3.5% and 4.0% coupons, although how much of this is passed through on rate sheets remains to be seen.


This is good for mortgage rates as they continue to slide to the lowest levels yet!


Lou Matos


Comments (2)

Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Lou, Thanks for sharing & Congratulations on your 1st post. Welcome to activerain, visit  you can join up to 5 groups for your post.  Members at AR are very friendly and helpful; I learned alot about blogging and SEO. I wish you good luck.

Aug 09, 2011 01:59 PM
Karen Ann Martin Realtor Safe Harbor Realty
Safe Harbor Realty - Westport, MA
Realtor Fall River & Westport MA Real Estate Agent

Hi Lou   Welcome to Active Rain   You are already on page 2 of Google for homes for sale in Fall River Ma Congratulations !

Aug 20, 2011 10:59 AM