10/23/09

Good morning. Yesterday rates worsened early in the day, and then pretty much seemed to stay put and watch the equity markets come back from Wednesday’s losses. The Leading Economic Indicators number did not help the call for lower rates: it was up more than forecasted for September and its sixth straight increase. In today’s news, Sept existing home sales expected to be up 4.7%, jumped 9.4%. Wow. The median sales price $174,900.00, 7.8 months supply, and inventory levels fell to the lowest inventories since March of 2007. As a result mortgage rates have worsened this morning. Have a great weekend and call me with any questions.