US Stock markets are plummeting this morning after heavy selling took place in Asia overnight and Europe today. The sell-off in Stocks hasn’t helped Mortgage Bonds, however, as prices have broken below key levels of support.
Some good news this morning comes in the form of Oil and existing home sales. Oil prices are down $4 to nearly $64 per barrel, despite an announcement that OPEC will cut oil production. And, in the housing market, existing home sales jumped 5.5% last month to a 13-month high.
“Your Partner In Success!”
Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
(209) 404-2200 - Phone
(209) 254-7142 - Fax