Mortgage Bonds are trading higher, as Stocks trade slightly lower. There are no high-impact economic news reports scheduled for release today, so Bonds will likely take their direction from Stocks.
In other news, it appears a $15 Billion rescue plan for GM, Ford and Chrysler is close to agreement in Congress. Also this morning, news reports indicate that five members of the House Financial Services Committee are sponsoring a bill that would force the SEC to reinstate the uptick rule. Since the removal of the uptick rule in July 2007, market swings have gone wild. So reinstating this rule could help alleviate the excessive volatility in both Stocks and Mortgage Bonds.
About The Utah Finance Guru!
- Cindee D. Stone
- Loan Officer Interview Q and A: How long have you been in the mortgage business? I have been in the mortgage industry for over 18 years. I have been very blessed and fortunate to have worked with so many wonderful people! How has the mortgage industry changed since you started, and what would you expect in the future? The mortgage industry and changed so much over the last few years. And, continues to change on a daily basis. It is very important to have a loan officer that has the experience to guide you through the process with success. What can borrowers do to insure a smooth mortgage underwriting process? The most common issue during the loan process is getting all of the documents from the borrowers. It is so different now and so much more is needed. This allows us to see the entire picture and make sure it all goes as smooth as possible. What provides you with the most satisfaction in your job as a Loan Officer? Even though the mortgage industry is harder these days, it will never take away the satisfaction and happiness with assisting someone getting into the home of their dreams! Or, helping a homeowner refinance and save money.
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