| Market Insight! Have you metChad? | | | |
| | Yo! FNMA 4.5% held strong and gained just 6 basis points...or 6 cents today. Rates to hold in the 5% range for 30 year fixed money. Gold continues to be a compelling story. The metal hit another record high today getting to $1092 an ounce before relaxing some from there to $1087/oz. FED NEWS: FOMC meeting was adjourned today and the statement issued by the group left us feeling as though they intend to let things ride the way they are for some time. Investors leery of inflation wrinkled their noses some as they were expecting at least some indication that the feds were going to raise the funds rate which is currently at "0.00-0.25%. Remember: raising the fed funds rate tends to control inflation by making US dollars more "expensive" to get a hold of. "more expensive to buy" means the US dollars are worth MORE. So: inflation is kept in check. DOW: was UP 150 points at one time this afternoon after the FOMC statement above...and then rapidly deteriorated in the last 30 minutes of trading to be UP about 30 points on the day. Some of you may remember this from before but so MUCH volatility in the last hour of trading is coming from automated trading. Computerized trade orders generally come in the last hour of the day. Another finger was pointed at investors looking to "lock in profit" by selling while the prices were higher for some additional year-end profit. Chad | | |
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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
