"The morning began with Stocks lower and Mortgage Bonds pushing higher, as Traders anticipate a lousy Jobs Report tomorrow. The move higher in Bonds is important because it means they have managed to break above a difficult ceiling of resistance, at least for the moment.
In other news, Productivity in the fourth quarter dropped as the economy contracted faster than companies cut jobs and hours. And while the number of Initial Jobless Claims was slightly better than expected, the four-week moving average of Jobless Claims reached the highest level since October 1982.
Tomorrow's Jobs Report is expected to be dismal--estimates are for 650,000 jobs lost, but the number could be even higher. While this is unfortunate for our economy and those individuals, it could cause Bond prices to improve. I recommend floating ahead of tomorrow's report, and I will be watching closely to see how the markets react."
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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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