Ever changing market

Mortgage and Lending with First Commuinty Mortgage

"Both Stocks and Bonds have seen wild swings this morning, as concerns over the potential for a global recession increase.

In other news, New Home Sales came in higher than expected and the inventory of unsold homes fell to its lowest level in four years. The rest of the week is full of economic reports, but the main focus will be on Wednesday, when the Fed will likely cut the Fed Funds Rate anywhere from 50 to 75 basis points.

Currently, Mortgage Bonds are trading below an important level of support, and my sources indicate that a rate cut on Wednesday is very likely. Therefore, I recommend locking. I will continue to monitor the situation and keep you updated."

Comments (2)

Lorena Westervelt
Van West Realty - Greenville, SC

Hello, welcome to Active Rain! This seems like a wonderful environment to network as well as learn from others. I hope you enjoy yourself and participate often in the Active Rain environment!

Oct 27, 2008 12:53 PM
Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hello and welcome to Active Rain! I encourage you to learn from others, share your knowledge and experiences with all of us, enjoy yourself, and try to log in and join us in the Active Rain community as frequently as possible. I look forward to your future blogs and comments! Take care, --Kirk.

Oct 27, 2008 01:06 PM