President Obama signed the bill that makes the tax credit officially extended. To all fence sitters: Whew. Lenders, builders, realtors, title companies and home buyers all breath a sigh of relief as all the November closings just became a little less critical.
FNMA 4.5% picked up 27 bps today with a few hours left of trading.
Dow is about flat but up 12 basis points.
Gold reaches $1100 an ounce...which really has people wondering why the feds are not giving out clues that they are worried about inflation. Investors are obviously worried about it.
Unemployment rate reaches 10.2% with the latest reportings. Estimated 190,000 jobs lost in October. Hopefully some light here soon. With all the extra government spending we have seen a "growth" in the GDP...while unemployment continues to rise. Many are skeptical and feel that the massive government spending is not creating any long-term, sustainable jobs or real growth.
Have a great weekend!
Chad
