Watch for higher rates over the next 7 days…$97BILLION of additional bond supply anticipated to hit the market. Remember "supply" heavy marketplace…with steady demand degrades pricing. When Mortgage Backed securities are faced with deteriorating pricing…the mortgage rates come up.
Have you metChad…lately?
FNMA 4.5% : lost 31 bps so far today…40 minutes left in the session.
DOW: Holding its own…but down 89 points on the day. We will have to see where it goes as investors are increasingly uneasy about the "real" effects of the latest Stimulus.
DJIA 7,465.95 -89.68 NASDAQ 1,442.82 -25.15 SP500 778.94 -9.48
Initial Jobless Claims came in today just about even with last week's number: 627,000-ish.
People continuing to draw are "in number" at a 26 year high. Remember the perspective though that there are more people working than ever before… I heard a great one lately: even if unemployment hits 10%: we will STILL have 90% EMPLOYMENT. We also have to remember the entrepreneurial out there who will offset the number of truly "unemployed." We should begin to see some jobs from the stimulus at the end of 2009 with much of the "employment" coming to full momentum in 2012.
PPI or Producer's Price Index also came out today showing that the price to produce goods is actually going up… This was not entirely expected and a sign of "inflation" actually comes as a spot of good news to those who have been readying for a "deflationary" investment environment.
For those local to Bozeman: I will be presenting the concept of the emotional cycle of abundance this evening at the library. The "Cycle" has been a "map" and an "anchor" to me over the last 10 years of trials in my life that I have recently outlined and began to share with others. If you can come: you are welcome.
Have a great eve!
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Chad Schauers
Have you metChad?
MetLife Home Loans
406.522.0922
406.522.0924 (fax)
1924 W. Stevens, Ste. 202
Bozeman, MT 59718
Cell: 406 799 8613
ccschauers@metlifehomeloans.com
