Video Mortgage and Financial Market Update and thought of the day for Nov 21st

By
Mortgage and Lending with Caliber Home Loans CHL NMLS# 15622 CHL NMLS# 15622
Well, I shouldn't speak so boldly yet but the DOW is actually in the black most of the morning and may close in the black. Pretty scary when you look at the numbers with the DOW dropping below 8000 yesterday. With that, since October of 2007, the DOW has dropped nearly half of its value from 14,164, to 7,988 yesterday, a 47% decline! The only other time was in the 1930's with the great depression has there been such a brutal bear market. Mortgage Backed Securities continue to hover around that important 200 day moving average and as long as we stay above it, rates will continue to be in the upper 5% range with an APR close to 6%. Please watch the video about an interesting phenomenon called Deflation and how between a recession and deflation, that is an ugly mix for the Feds to address. They are running out of options if they cut the Fed Funds Rate again in a few weeks by .75%, we will be down to a FFR of .25% and a Prime rate of 3.25%, wow! Please watch the video for more details. Thought of the day though from John Maxwell... "Give your "better" self a chance to grow. Form the habit of positive reaction followed by positive action. We cannot cause the wind to blow the way we want, but we can adjust our sails so that they will take us where we want to go." Be Blessed! Travis

Comments (1)

Richard Ives
Chicago, IL

Thanks for the update Travis.

Great thought for the day!

Have a wonderful weekend!

Nov 21, 2008 07:27 AM