Will Cyprus take down the Euro Zone? Bank runs! No FDIC like organization in Euro Land! Will people just take their money out of the banks and put in under the mattress? These are all questions that are going through my mind.
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What's up today: Housing Starts and Permits, FOMC Countdown, Cyprus Bailout
Housing Starts made a partial comeback in February, but more importantly, Housing Permits made a sizeable gain. In February, housing starts rebounded 0.8 percent, following a drop of 7.3 percent the prior month. The February starts annualized level of 0.917 million units very marginally fell short of analysts' forecast for 0.919 million units and was up 27.7 percent on a year-ago basis.FOMC Meeting Begins, The Federal Open Market Committee meets eight times a year in order to determine the near-term direction of monetary policy.Cyprus is attempting to discern which option is worse: a default or an unprecedented bank tax that suggests itself as a possibility for other Euro-zone nations despite claims that Cyprus is unique.
Dow is trading at 14,453+11.19 the 10 yr bond is at 1.91 from 1.95 Yesterday, . Currently mortgages are slightly better from Yesterday
Conv. - 3.625%
Average - 3.625
FHA. - 3.25%
GET UR DONE!!!
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