Financial Market update of the week-October 15th by Response Realtors

Finacial Market Update of the week!!!!

The 30 year fixed rate inched slightly higher today. The 30 year fixed is now at 4.875% for loans from $200,000 to $417,000 with a 740 credit score and a minimum down payment of 10%. See the attached Mortgage Plans and Rates for more details.

Commentary:

The Dow closed above 10,000 points on Wednesday, stronger than expected news from the labor sector, a report confirming inflation pressure remains benign and only a slight uptick in the core consumer price index have combined to put upward pressure on interest rates today. This is all good news. In a separate report the Labor Department announced first time claims for jobless benefits fell by 10,000 during the week ended October 10th. This data tells a story of dwindling layoffs, but details in the report also shows the pace of hiring is nothing more than a trickle. The number of those claiming extended benefits or enrolling in the Emergency Unemployment Compensation programs continues to grow. Until hiring of those that are unemployed improves, our economy will continue to struggle.

All for now.

(The above info was provided by: Ralph Leach, Loan Officer, Ameristar Mortgage Corporation,Cell 414-202-8093)

NOW HIRING AGENTS!!!!!!!

Call a Response Realtor Today!!!

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Sincerely,

Greg Cavaiani