The Dow fell 4.3% last week. Dismal jobs and manufacturing reports along with $100 oil fueled recessionary fears and sent investors back to the safety of bonds. There will be a revision on the jobs report out later this week. There are no economic reports due out this week. However, Fed officials will be speaking throughout the week and all ears will be alert for an indication of how much of a rate cut we can expect.
We do feel housing is nearing a bottom. Lending has stabilized, somewhat and appreciable buying opportunities still exist in may areas of the country.
Have a great week and Happy New Year!
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Stay tuned and stay in touch with your mortgage professional. Thank you for the opportunity to serve you and your clients. David. 919.851.0999