Ha- what is normal in this volatile market? It would seem that volatility is the new standard. What is going on with mortgage rates... Well, the unemployment numbers for Ocotober were released this morning. They were slightly less than expected at 80,000 jobs being created as opposed to the expected 100,000+. Unemployment held steady at 9%- with horrible participation from the labor force. We are still not creating jobs to match our population growth. Not a very good report.
And what in the world is going with the stock market?? We had somewhat of a rate rally in October, but as of recent, the rates have worsened... not that they are bad by any stretch of the imagination! The mortgage back securities were hammered yesterday, and the stock market rallied. The Greek Prime Minister called off a scheduled referendum on a Greece bailout. As in the out of sight out of mind- this is where the debt is for now. The markets can ignore it for a bit.
Anxious to see what the market holds for the remainder of 2011... Stay tuned for more
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