"The Labor Department reported this morning that there were 524,000 jobs lost during the month of December, this was worse than expectations of 500,000. All told, there were 2,600,000 jobs lost in 2008 and was the biggest job loss in any calendar year since 1945, when 2,750,000 jobs were lost as the wartime economy was demobilized.
Adding further sting to the report was the Unemployment Rate, which shot up higher than expectations to 7.2%, the highest reading in 16 years.
I will continue to recommend Floating for now, but be mindful that Mortgage Bonds are trading at all-time historic highs - so a pullback lower would not be a surprise."
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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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