Excerpt from: Flagstaff Mortgages
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| February 19, 2008 | | After a three-day recess, markets are swinging today - be in touch with your home lenders! | Any of our clients seeking to refinance or buy a home now should stay in close contact with their lenders this week. Mortgage rates are on the rise and we don't want you to miss the good rates we've been having so far this year. Today, the Dow is up nearly 100 points at mid-day, driving the bond market lower. This means long term rates (such as home loan rates) are going UP. Several key pieces of news are pushing stocks higher at the expense of bonds. Wal-Mart reported far better than expected sales and earnings for 4th Quarter 2007. Wal-Mart’s net sales also hit an all-time record, breaking over $100 billion. Additionally, breaking news from Cuba is on the minds of investors, as Fidel Castro announced he is stepping down as President--a position he has held since 1959. Markets have long seen Castro's resignation as a signal that the Cuban market will open to U.S. investment and tourism -- a boon for both countries. | |
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