Friday, June 5, 2009

FNMA 4.5% lost 83 bps today...so rates are likely to come up a little on Monday. Currently we are in the 5.375% range for the 30 year fixed.

The Jobs report showed a loss of only (only!) 345,000 vs the expectation of a negative 520,000. Remember it is all about meeting, exceeding or not meeting EXPECTATIONS that moves the market.

Unemployment reported at 9.4% is at a 26 year high...but there are more and more signs that this is slowing down. We will likely begin to see a recovery soon even though it may be years before we get back to where we were. Remember that jobs created by the stimulus will become a reality in about 12-18 months so that may help somewhat as well.

Stocks were about even on the day with the Dow gaining only 12 points. Oil fell 41 cents and is trading at just over 68 bucks.

Watch for our Builder Business incentive rolling out soon. Call us for details on this great new incentive for your buyers to purchase newly constructed homes with Metlife Home loans financing.

NOTE: Some of you have noticed that these are consistently shorter. I want to be able to provide value for you with less text. Many of us get our emails on a phone so I also wanted you to be able
to get the most important daily market information easily on your phone without having to download the rest of the message. Your feedback is welcomed though...and thanks for your support!

Have a great weekend!