Tuesday, February 19, 2008

Breaking News from CNBC

Breaking News! CNBC just reported the six mortgage banking entities involved with the Fed to help resolve the foreclosure mess has agreed to a 30 day moratorium on foreclosures.

And now, the rest of the story...Interest rates were beating feet higher last week before the 3 day holiday and have not eased as of this morning. The Stock Market is attempting to break resistance this week to go higher and bonds are sliding-yields up. The Ten Year Note Yield was up 12 basis points last week (0.12 percentage point) and up almost 9 this morning. Oil prices are again up ~$3 to near $99 a barrel.

As always, enjoy the day and the warm weather, a joy-killing swine Canadian air mass comes tomorrow night.

Courtesy of:
Kevin Foreman
Globe Capital Home Loans
405-478-8484 direct
405-605-6141 office
405-605-6147 fax