| Market Insight! Have you metChad? | | | | |
| | | WOW...gold buyers are in full swing. Gold hit $1150 an OUNCE today. Unbelievable. Some are saying that the metal will hit $2000. It is like the new gold rush. Many analysts worry about such a run-up in price like this. It indicates the general worry over inflation that the feds simply have not acknowledged. Today however, comments from members of the federal reserve suggest that they are re-thinking that. "Printing money" may well catch up to us sooner than some may expect. Watch out for tomorrow as initial unemployment claims are reported. If they fall under 500,000, we may see some euphoria in the markets. Remember when 499,000 people filing for unemployment was horrifying? Now, analysts tell us that we will be throwing a party if "only" that many are reported. Housing starts SLUMPED for October...but the extension of the Tax Credit should help with that. 529,000 homes were "started" vs the 600,000 that were expected. Eliminating 'inventory' by starting less construction is a good thing though. Perspective: Construction nationwide is only off about 25% from where it was in 2007 and with the interest in home purchase through the tax credit we have pulled much of the inventory surplus back into the hands of home owners. FNMA 4.5% is continuing to decline losing 6 bps today. Rates on 30 year loans still in the 5% range for most. It is a GREAT time to lock in a rate for a purchase or refinance loan. Chad | Archives: *Written Material Copyright Chad Schauers and use without permission is prohibited. 406 522 0922 | | |
--
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