Why is the person who invests your money called a "broker"?
Wells Fargo led the pack in retail originations last year with roughly $160 billion for 2006. They were followed by
Countrywide, BofA, WAMU, and Chase in the top 5. Also on the list were Golden West, Quicken, USAA, and First
Magnus (#20 with roughly $11 billion for the year).
Given the stronger-than-expected economic reports, and steady inflation numbers, few analysts still believe that
the Fed is going to lower interest rates before June, or even early autumn. As far as market direction, for the
short-term, a few days and up to a week, most see the bond market "neutral". What will change this? Probably
not much this week. Later today we have Leading Economic Indicators (estimated +.2%) and an $8 billion 20-yr
TIPS auction. (Treasury Inflation Protected Securities.) Ahead of that, mortgage prices are unchanged from
yesterday afternoon.
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