Pink Flamingo Mortgage Blog Headline Animator

Tuesday, October 2, 2007

Surfing a Turbulent Economy ... the Markets Up and Mortgage Rates are Down!

Have we hit bottom yet??? This is the question I am most often asked. Well it depends on your point of view. If you live in the more exclusive communities, I believe the answer is yes. If you live in the moderate to lower income communities ... maybe not yet.
But the market has rallied, the Fed did lower the rate and mortgages have followed suit and are down. For current mortgage rates go to Pink Flamingo Mortgage and see today's low rates.
In San Diego, the higher end communities have held steady. Some have even seen values rise a little. But other pockets in San Diego are down. Particularly the Downtown condo market. (Who told them to bring thousands of condo online all at the same time???) So where you live will influence how you see today's economy.
The Stock Market finished above 14,000 again, and looks like it will hold this time. But the Fed should look at another 1/4 to 1/2 point reduction in the Fed Rate to shore up this infant rally. Foreign markets have continued to drop rates and this has caused a weakening of the dollar. Good if you are an exporter, not good for the rest of us.
If the Fed helps us out a little more, this rally could start to turn the corner. Cheaper money will allow the banks to fund new housing starts with better mortgage rates. As sales pick up, value will begin to solidify and eventually start to rise. We have been through it before, but it never feels good while your in the middle of an economic stall.
The Presidential election should be good for the economy and rates. Incumbents like to see the economy growing, or else they might get tossed! So we will see what the future brings.


Anonymous said...

Your payments will not only get to you faster but it will provide you with a history of your earnings for your records.

Men can follow these health and fitness tips
to lose weight and get healthy and fit. Having some company can also make
the fitness session more fun.

Here is my webpage :: article source

Anonymous said...

May I just say what a comfort to find an individual who genuinely knows what they're talking about on the net. You definitely understand how to bring a problem to light and make it important. A lot more people ought to check this out and understand this side of your story. I can't believe you aren't more popular since you definitely have the gift.

Have a look at my webpage - Angry Birds Online

Mary Jaime said...

Permit me to introduce you to LE-MERIDIAN FUNDING SERVICES. We are directly into pure loan and project(s) financing in terms of investment. We provide financing solutions to private/companies seeking access to funds in the capital markets i.e. oil and gas, real estate, renewable energy, Pharmaceuticals, Health Care, transportation, construction, hotels and etc. We can finance up to the amount of $900,000,000.000 (Nine Hundred Million Dollars) in any region of the world as long as our 1.9% ROI can be guaranteed on the projects.
Le-Meridian Funding Service.
(60 Piccadilly, Mayfair, London W1J 0BH, UK) Email Contact