Oct 28 Market Update

Good Morning,

I’m happy to say that I’m feeling much better than last week and dare say I’m 100% back to health. You’ll see rates have held steady again this past week so on to other news.

It appears that the Senate will be approving the first time homebuyer tax credit extension. They were unable to finish the vote yesterday so details are still to be decided and finalized as far as any changes and dates for the new extension but anything short of a vote to deny sparks a good sign for it’s passage going forward. We should have a definitive answer by next weeks update.

As expected, new home sales are being reported as encouraging with inventory levels dropping to 7 months across the country compared to over 12 back in January. Many believe that the homebuyer tax credit has helped get the home market moving again.

That’s all for now,

Have a good week.

-Matt

30 year fixed: 4.875%

15 year fixed: 4.375%