Thursday, May 6, 2010

WOW! DOW CRASHED and then recovered MUCH...but FNMA 4.5% quote coming in Better than we have seen in a WHILE!

Holy SMOKES...the DOW dropped 998 points before ending the day down 347 at 10,520.  

Reason cited: fear.  Germany may not get behind the Greek Bailout...  Remember that the US is fronting 12% of that money (159 BILLION-ish total bailout.)  


FNMA 4.5% is at 101.53...UP 44bps.  Hello 4.75%-ish rates on 30 yr $$!!

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Chad Schauers
Montana Mortgage Lender, Bozeman, Montana
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com
APPLY at www.metchad.com