Mortgage Market Report for Thursday February 7th, 2008

Mortgage Market Report for Thursday February 7^th, 2008

Initial Jobless Claims reports were released today higher than expectations. This shows that job growth and the economy are slowing. This is no surprise to anyone.

Dennis Lockhart and Richard Fisher Fed Presidents are scheduled to speak later today and their comments may have a large effect on the markets.

The debate continues in the Senate regarding additional initiatives that for the stimulus package. It was voted to be further amended by a very narrow vote. There were also speaches given regarding the at the American Securitization Forum yesterday.

http://www.federalreserve.gov/newsevents/speech/kroszner20080204a.htm#f6

Daniel Mudd, Fannie's CEO was quoted. "Our business is meeting the increased demand for liquidity and our overall credit book has held up relatively well," he said. "Yes, these are tough times, but that is when you want a Fannie Mae."

The market is again volatile on a day to day basis.

Thank you for listening to http://www.contactherrick.com/ We will have another report for you, your family, your friends and your important business contacts tomorrow.

A quote for Confucius

"Everything has its beauty but not everyone sees it."

Roger Herrick

California Mortgage Broker

www.ContactHerrick.com