Well, You Know...

• No news out today, so bonds are taking direction from stocks.
  When stocks drop, and they are, bonds usually rise, and they are. Not
  strongly. Not like Superman spinning the world backward. But we're up
  a little and punching through resistance levels.

• Part of this impetus comes from the CNBC interview
  yesterday in which the guest said, and I quote, "if the Fed raises
  interest rates with employment up and financial firms in the tank, in
  an election year, they need to be prepared for people to come for them
  with torches and pitchforks. It just ain't gonna happen."
  
  
• There had been some pricing in of a possible Fed rate hike
  later this summer, but that seems vanishingly unlikely given the
  general state of the economy, so that pricing is coming back out of the
  market, giving us a little - a very little - boost.
• New FHA regulations are on the docket for the first of next
  month, more bad news for those with iffy credit and/or not much in the
  bank. There will also be new RESPA regulations - not good ones - at
  some point this year. It's tough out there, folks. But there's good
  news as well, it's just harder to find. Be smart. Do your homework.
  Keep reading.
  
  

Recommendation: if you're looking to buy or refinance, now's the time.
Pull the trigger. Get the deal done. Do not wait for rates to move
lower, because they aren't likely to do that. Do an FHA if you possibly
can, but do something and do it immediately.



We love referrals, so feel free to forward this to anyone you like, and
have them shoot me an email so I can get them on the list their own
selves.





Cj


www.thechrisjonesgroup.com