For MH

[Adam in CO]

This is yesterday's. I haven't written one today.

Tuesday?s bond market has opened in positive territory following the release of this morning?s economic news and early stock losses. The stock markets are showing sizable losses with the Dow down 140 points and the Nasdaq down 33 points. The bond market is currently up 7/32, which will likely improve this morning?s mortgage rates slightly.

The Conference Board posted this month?s Consumer Confidence Index (CCI) late this morning, reporting a reading of 105.0. This was a little higher than the 104.5 that was expected but still was the largest monthly drop since September 2005. This indicates that consumers are much less confident in their own financial situations than last month and are less likely to make larger purchases in the near future. This is good news for bonds and mortgage rates because it eases inflation concerns in the economy.

The minutes from the last FOMC meeting will be posted 2:00 PM ET this afternoon. Look for any reaction in the markets to come during late afternoon trading. Traders will be looking to the minutes for an indication of a possible move in key short-term interest rates, or lack of one, in the coming months.

There is no relevant economic news scheduled for release tomorrow. Thursday?s only data is the first revision to the 2nd Quarter Gross Domestic Product (GDP). Last month?s preliminary reading revealed a 3.4 % pace, which was slightly above analysts? forecasts. However, a key inflation reading came in below expectations, meaning inflationary pressures were not as strong as expected. A downward revision should help lower mortgage rates Thursday, especially if the inflation portion of the releases does not get revised higher. However, an upward revision above the current forecast of 4.1% could lead to higher mortgage rates Thursday. There will be a final revision issued next month, but it probably will have little impact on mortgage rates.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

[MarineHawk]

Excellent. Yesterday's news is good enough.

[Hucky]

Would you buy that Parcel of 26 acres I spoke to you about at this time?

Thanks

[Adam in CO]

Originally Posted by Hucky

Would you buy that Parcel of 26 acres I spoke to you about at this time?

Thanks

Hucky,

I assume you got my email about it, right?