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Election Day, Nov 4th, Mortgage and Financial Market Update

By Travis Neliton

Mortgage and Lending with Caliber Home Loans CHL NMLS# 15622 CHL NMLS# 15622

November 04, 2008 05:53 AM

Hello Friends, Woohoo, Election Day will be over in about 8 hours! The market is on quite the rally right now, if it can only continue. Mortgage backed securities are up nearly 100 basis points or 1% in fee or discount point. So rates across the board have improved about .25% and .375% in some cases, all in a matter of a few hours. Outside of the emotion and the election finally being here, Australia cut their Fed Bank rate by .75% and the EU or European Union should follow suit this week with the same .75% cut. Please watch the video for more details and how this effects our market and the global economy. The DOW is up about 215 right now. Have a Blessed Day!

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John Walters

Frank Rubi Real Estate - Slidell, LA

Licensed in Louisiana

It would be really nice to see those rates keep coming down for the next six months.

Nov 04, 2008 05:54 AM

Vickie Slade

Colorado Landmark, Realtors - Boulder, CO

Service You Can Trust ~ Someone You Can Depend On

Travis, This is of course good news, but it would certainly be more reassuring if the market continues to recover over the next several days and weeks. We've seen the markets come up over the last several weeks only to go back down the next day. Let's hope this is only the beginning of a long and sustained continued trend.

Nov 04, 2008 05:58 AM

Richard Ives

Chicago, IL

Travis this is encouraging news. It will be nice to have the election behind us.

Have a wonderful day!

Nov 04, 2008 06:00 AM

Election Day, Nov 4th, Mortgage and Financial Market Update

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Travis Neliton

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