Market Update

It wouldn't be a normal first Friday of the month if we got an employment report that didn't rock the market; today was no different. Non farm jobs, expected to be up about 90K, were up 166K. Sept jobs were revised down 14K and August jobs were revised up 4K. The unemployment rate was unchanged at 4.7%. The upward surprise came from service providing jobs.

The stock market took a real beating yesterday, this morning after the employment data the stock market it opened better for a few minutes- now taking another beating. We expected this reaction to the FED lowering the Discount rate .25% on Wednesday, we just did not expect it so quickly.

Rates for competitive companies (Remember, this is just a reference point, not a rate quote)

30yr Fixed- 6%

15yr Fixed-5.75%

5/1 Jumbo Interest Only-5.875%

3/1 Interest Only-5.625%

FHA and VA-6.25%

Brad Dinkel

Allen Tate Mortgage Services

704-634-2918 Direct

980-233-3909 Fax

"Focusing on Strategic Mortgage Planning and Wealth Advancement"

To get Pre-Qualified now, click the link below so that I can assist you as quickly as possible: