There is huge volume and activity in all financial markets this morning. Mortgage Backed Securities are trading higher this morning, now that the weight of the Treasury Department's record $123 Billion in auctions are behind us. Stocks are giving back all of yesterday’s gains and then some. Stocks are currently down 235. The long awaited correction in stocks seems to be underway. The Dollar is strengthening and Crude Oil is down .50 cents at $79.44.
Personal Income was reported unchanged in September, while Consumer spending fell 0.5%. Also this morning, some encouraging news came from the Chicago PMI and the Michigan Consumer Sentiment, which both came in better than expectations with mildly positive numbers.
If you or someone you know is considering Buying, selling or Refinancing please contact me at 801 668 2112.
