January 8, 2009
January 8, 2009 by admin
The market continued moving lower following dismal results from the worlds largest retail store Walmart. The company signaled that they would miss their Q-4 guidence following dismal results for holiday sales. The stock market immediately turned lower following the news. The market will eagerly await the December jobs report which is due out on Friday this week. This report has the potential to dramatically move the market and set the tone for the economy over the next thirty days.
Freddie Mac, the nations second largest agency lender reported some good news for the economy and homeowners. Fixed mortgage rates continue moving lower and a popular choice for refinancing, the fifteen year fixed mortgage loan is well under five percent. The reduced rates have led to increased refinancing activity for almost all mortgage lenders, but has not significantly improved home buying and the housing industry to date.