Rates are holding steady for a 30 Year Fixed. The flight to quality trade continues as investors remain weary about the conditions of the economy as further write-downs are taken in the financial sectors. The spike in oil prices and uncertainty in the housing market has reduced consumer confidence. The University of Michigan confidence reflected this as it showed a preliminary November read of 75.0 versus expectations of 80.0. Chairman Bernanke’s comments last week were interpreted as dovish with an emphasis in risks to near-term growth, while still reiterating the risk to inflation that have been elevated by higher energy costs. This week we receive NAR’s Pending Home Sales and economic Optimism tomorrow. PPI and Retail Sales are released on Wednesday. CPI is released on Thursday as well as Empire Manufacturing and the Philadelphia Fed survey. We wrap up the week on Friday with Industrial Production and Capacity Utilization. Best Regards, Your In-House Lending Team Leah Odom Joel Greer Margaret Blalock843-813-0123 Cell 843 327-1575 Cell 843 437-0271 Cell843-795-3671 Office 843 795-3671 Office 843 580-0505 Office888-391-0739 Fax 888 248-3486 Fax 800 504-1884 Fax http://www.blogger.com/ http://www.blogger.com/ http://www.blogger.com/www.leahodom.com www.joelgreerloans.com www.homeloanswithmargaret.com
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