Mortgage Blog

It's bloody on the Wallstreet
August 4th, 2011 8:57 PM

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 layoff
Monday and asked me to hold the loan; another one said that
he 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 economy
growth will slow down and job creation will be slow.

For the interest rates, seems like 30 yr fixed is heading
4%. Let me know if you like to have 4% rate.

Posted in:General
Posted by Eric Fang on August 4th, 2011 8:57 PMPost a Comment

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