Good Morning Everyone and Happy Monday! It all started last night with Asian markets selling off through the night. China’s Hang Seng closed down 420 points! The only economic news release for the US is the Empire State Manufacturing Survey which fell sharply in May to 19.1 from the 31.9 posted in April. The report did nothing to help equity markets today. Although the indices floated around the flat line for a while this morning, they have now dropped sharply and the Dow is off over 125 points as I send this article to you.
The dollar is strong today compared to a basket of foreign currencies. Troubles in the Mediterranean countries continue to haunt markets around the globe. Good news is, oil is down (prices are improving at the pump too) and mortgage rates are improving. We should see this trend continue this week as secondary marketing guys continue to offer better pricing each day. It’s taking a while for rates to float down, but at least they finally are!
I’m going to be tied up for about an hour, and then will be available to you for the rest of the day in the office.
Have a terrific Monday and here’s to a very productive and profitable week!
This Blog will keep you Updated with NATIONWIDE MORTGAGE MARKET INFORMATION, designed both for the Real Estate Professional as well as the layperson, its author has a comprehensive understanding of all Mortgage Related Events and activities. GO TO: https://www.treasury.gov/initiatives/financial-stability/Pages/default.aspx
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About Me
- MORTGAGE PROFESSOR
- Glendale, CA, United States
- I am now affiliated with BCS REAL ESTATE SERVICES INC., a one stop Real Estate Forum whereby both your MORTGAGE and REAL ESTATE needs can be met precisely and skillfully. Prior to BCS, and from1998 to 2012, I worked at A.P. Realty & Finance as the Executive Manager of the office. Prior to joining AP, I managed and originated residential mortgage loans at Pacifica Mortgage Co., as well as at American Financial Services, where I specialized in meeting the needs of Educators, Peace Officers, Fire Fighters, Federal Agents and clients in foreclosure. In 2000, I was conferred with a BA in Political Science from California State University at Los Angeles. After my graduation, I felt compelled to serve my community and was sworn in as Deputy Sheriff for the Los Angeles County Sheriff’s Department. As a sworn police officer for 15 years I worked a variety of assignments; Some of them include: Judicial Protection for five L.A. County Superior Courthouses, as Bailiff for more than ten judges and justices, and uniformed patrol officer at three area patrol stations [Crescenta Valley, Altadena and West Hollywood].
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