Mortgage Market Report for Wednesday January 16th, 2008

Mortgage Market Report for Wednesday January 16, 2008

Consumer Price Index was reported a little higher than expectations. The closely watched year-over-year Core CPI was reported at 2.4%.

This puts additional pressure on the Fed not to relax interest rates at the next meeting January 30^th Because their target is 1% to 2%. So the Fed has a complex situation on their hands to balance both inflation and the slow economy.

At 2pm ET, the Fed's Beige Book, a report on current US economic conditions, will be reported and could have an influence on the market later today.

The low earnings report from Intel is pressuring stocks lower for now. If stocks improve today Bonds will erode suddenly. For now we recommend floating but be very cautious as the market remains very volatile.

Thank you for listening to http://www.contactherrick.com/ Just a reminder that these are very good times for conventional fixed rate loans. This could be a great opportunity to improve your financial picture. We will have another report for you, your family, your friends and your important business contacts tomorrow.

This is a quote from Oliver Wendell Holmes

"The great thing in this world is not so much where you stand, as in what direction you are moving."

Roger Herrick

Mortgage Broker

http://www.contactherrick.com/

888-619-9044