Posts Tagged ‘California’

Market Snapshot

February 24th, 2009

Stock prices plunged yesterday, sending the Dow to levels not seen since 1997. Mortgage Bonds, however, were unable to gain much, as tough overhead resistance and the enormous supply of Bonds kept a cap on prices.

In the news today, Consumer Confidence fell to its lowest reading since records began in 1967. The sour report indicates that the fear of losing one’s job has made the consumer more reluctant to spend.

Currently, Stocks appear ready to bounce higher. This would be a positive development for Stocks, but may come at the expense of Mortgage Bonds.

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant

PMZ Home Loans

1600 N. Carpenter Rd. Ste. C

Modesto, CA 95351

Direct: (209) 404-2200

Fax: (209) 254-7142

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Market Snapshot

February 19th, 2009

President Obama announced two initiatives to help homeowners avoid foreclosure. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home is worth. The second program attempts to lower monthly payments for homeowners at risk of losing their homes. I’ll be monitoring this information closely as the details continue to evolve.

In other news, Initial Jobless Claims showed that 5 Million Americans are now unemployed and cannot find work.

Currently, Bonds continue to battle tough overhead resistance, which has limited any meaningful price advance over the last few days.

 

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant

PMZ Home Loans

1600 N. Carpenter Rd. Ste. C

Modesto, CA 95351

Direct: (209) 404-2200

Fax: (209) 254-7142

  • Share/Bookmark