FNMA 6% -6bps on the day…both stocks and bonds hurting with the realization by investors of our position in the economy. Dow off 73 points after some ups and downs today.
GM in real trouble along with other auto makers in the US as the industry continues to struggle. As an employer of over 10 million Americans…we should watch for the "assistance" package from the government. (For those who may have noticed: the media has been preparing us for that over several weeks…) Hope for the best. I hope the feds encourage a strategy for efficiency and improvement along with any assistance that may be granted…we will see.
Circuit City announced they will be closing 150 stores and filed for bankruptcy protection… It is a pretty drastic move considering the holiday "retail" season is upon us but a sign of the condition of things in retail right now.
Opportunity? I am in VEGAS for a Mortgage Top Originators Conference this week.
* I learned today that the average realtor partner actually will get 25 leads and convert 2 in the month they receive them…if they are doing really well.
* The OTHER 23 leads actually (usually) go by the wayside.
* The statistic goes hand in hand with the discovery that most people spend about 12 months "incubating" before purchasing a home and see about 17 realtors over that time. (Not sure of the origin of these statistics…but take a look at your local market or personal efforts.)
Chinese Government announced their 586 billion dollar economic plan yesterday. Evidently Asian Stock Markets approved…
Remember we are in this together and the slowdown is global.
Europe saw many countries unite under a money/banking system a few years ago giving us the EURO…wouldn't it be interesting to see other "banking combinations" like that? Hmm…will be interesting to see how all this plays out and what happens to the control of world monetary systems through it.
25 BILLION in 3 year Treasury Bonds hit the market with "supply" today which lessened "demand"…the same affect is expected with other HUGE auctions this week that are scheduled. (Mentioned in Friday's MI)
Bond market closed tomorrow for the Holiday…
Happy Selling!
1. GOOD APPROVALS 2. Prompt underwriting 3. Return Calls/emails 4. Meet close date 5. Status Updates
