November 28, 2008
November 28, 2008 by admin
Black Friday, the biggest shopping day of the year will be closely followed by the stock market and economists throughout the world. This day marks the beginning of a critical period for the countries retail industry and will be a pivotal gauge as to the overall health of the U.S. consumer market. The stock market is riding four straight days of gains into this pivotal day, but volume in the market will likely be lower following the Thanksgiving holiday.
The U.S. housing market could use a boost and is likely to get a boost from the sharp decline with mortgage rates over the past week. The ten year bond opened at 2.95% on Friday, near historic lows. Fixed rate mortgage loans are in the mid five percent range, but could move higher quickly with market related news. Locking into near historic low mortgage rates would be a great move for any homeowner who is in an adjustable rate loan product and is concerned that their interest rates could be moving up in the upcoming years.