Mortgage Market Update

Well, we’re less than an hour into the markets today and it’s time to take a look at what’s happening…

• So far, rates are staying quite steady.    Not a lot of news going on so far this morning.
• Dubai got a “bandaid bailout” to keep them from totally drowning, but from what I hear, they have approximately $35 Billion in loans that need to be refinanced in the near term with virtually no one wanting to loan them money.
• Exxon/Mobil is buying another energy company with part of your and my hard earned money.
• The President is going to slap the hands of a bunch of Wall Street execs.   Does anyone expect that it will really make a difference?   Anyone?   Speak up if you do…

So, rates are steady for now.    As I said earlier, it could be a very volatile week, but I don’t expect any significant changes in the overall direction of the markets.

Stay tuned and keep in touch.

Tom Vanderwell