November 7, 2008
November 7, 2008 by admin
The stock market is looking to rally off of a two day sell off as the market continues to digest news that the economic recession could be gaining momentum. The October jobs report came in and indicated that unemployment continues to climb as the unemployment rate is now at 6.5% nationally. The market lost over 240,000 jobs last month, higher than the projected 200,000 jobs most economists had predicted, but better that the 300,000 total that some economists had feared.
Mortgage rates have turned lower this week following a sell off of almost 10% from the stock market. Fixed mortgage rates are heading back into the low six percent range. The real restate market is desperate for some positive news and mortgage rates moving lower will help with bringing more buyers into the market as we head towards the seasonally slower months.
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50 year mortgage…
Before deciding to get exchange the equity tied up in your property for a lump sum, have you considered alternatives? You could of course sell up and move to a smaller home, but perhaps you have lived in your home or community all your life and have ma…