August 4th, 2011 8:57 PM by Eric Fang
Everyone did not expect the market is down so much today.But at least I should be aware of such days shoulb come.
This week, one client told me that their company layoffMonday and asked me to hold the loan; another one said thathe got laidoff this week; and one more client wants to buy one property before the layoff. It's possible that 2nd recission will be coming.
People is spending less nowadays; and the government will cut spending as well. Then definetely the economygrowth will slow down and job creation will be slow.
For the interest rates, seems like 30 yr fixed is heading4%. Let me know if you like to have 4% rate.