Thursday, July 31, 2008
I have a real problem accepting the price of gas when once again Exxon reported record profits... they did miss what analyst expected though. Off my soapbox. The second quarter GDP rose 1.9%, nearly doubling last quarter, but less than the 2% analysts were hoping for. Sounds good to many, but some are worried that the economic Stimulus package was more to thank than the economy actually growing, leading to much weaker numbers in the next quarter. In a direction opposite to yesterdays ADP report, initial jobless claims rose to 448,000 last week, the highest since April 03 and 68,000 more than expected by those that buy and sell. We have the payroll and unemployment report due out tomorrow, so it's wait and see for now. The DOW which had been up is down over 100 points, helping lift the bond up above the level of support. If we can continue this trend, we may be able to see rates improve and level out some. Now.... Who has buyers I can qualify? On a side note, if you are looking for a true 100% loan, look to Rural Housing from USDA. It isn't for the big city folk, but some, if not all outlying areas qualify. You may even qualify (sometimes) without FICO scores.
As always, any questions give me a holler..
Karl Menzer
435-849-0212
