The FNMA 4.0 Bond held steady today leaving rates in the great place they have been. 30 year fixed rates were at 4.57% on average nationwide today.
Oil is climbing with summer demand. Interesting how the millions of gallons of lost oil from this rig in the gulf is only a drop in the bucket compared with world production and demand.
I saw an article today suggesting that Tim Geithner was supposed to somehow "reprimand" the Chinese for "manipulating" their currency. This is an interesting bit of news. Isn't monetary policy in general "manipulating" currency? I think there is a group of people hoping that if the YUAN goes up in value, we will see a rise in consumption in China thereby expanding sales elsewhere. On the other side of that: If the YUAN goes UP, so does production costs. China's product IS production. Their role is to produce right now. That is what is giving them such great power: we all rely on them to provide "cheap" production.
Cheers,
Chad
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Chad Schauers
Montana Mortgage Lender, Bozeman, Montana
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com
