We knew it was coming...Tax credit passed the house today! Whew. $8000 credit will be extended...and $6500 will be extended to people who have owned a home for 5 of the last 8 years. Income limits are also UP...with people making up to
FNMA 4.5% bond picked up 19 bps. Feds plan to continue buying mortgage backed securities into the first quarter of 2010.
Dow picked up a cool 204 points mostly on the reporting of better than expected "productivity" among other "reasons" cited. It closed at just over 10,000 points.
Initial unemployment claims fell. Just over 1/2 million people made their initial claim for umemployment last week. Yikes.
Tomorrow's job report has everyone on the edge of their seats. Earlier this week ADP put out their report and it showed just over 200 thousand jobs lost. Analysts expect the jobs report (non-farm payrolls) tomorrow to show about 175,000 jobs lost for October.
This could take unemployment close to 10%...or EMPLOYMENT down to 90% depending on how you look at it.
Have a great eve!~
Chad
Chad
