Moore Mortgage Solutions

    A dismal March Jobs Report and Initial Unemployment Claims Report are indicating that we are in a recession now.

    How bad will it be? Only time will tell. Today’s Jobs Report is an average which will get revised later on. But if there are any indications, January and February’s Jobs Reports were revised for the worse. So we can assume that most likely March’s report will also be revised for the worse.

    This news affects the bond mortgage—for the better and interest rates are improving slightly. Though because of the volatility of the overall market, this situation can change and rapidly. But with interest rates being overall low and more houses on the market, this is a good time to buy!

    This past week has also been interesting in that Federal Reserve Chairman Bernanke reported to the Congressional Joint Economic Committee this past Wednesday. He felt that our economy would turn for the better by the end of the second quarter.

    Also Bernanke returned to Congress on Thursday with JPMorgan and Bear Stearns’ CEOs. I found parts of this interesting as one of the statements Bernanke made was that by helping to broker this deal, he wanted to save Main Street instead of Wall Street. In other words, Bernanke felt that without this deal in place, our economy would have a bigger crisis on its hands. Though this is something new for the Federal Reserve to do, help broker a deal between investment bank and a bank, the Fed has done this in the past between two banks.

    In the meantime, I am available to help you decipher the market conditions and help you make informed decisions.

    Until next time, make every day an inspired one!

Betsy Moore

betsy@mooremortgagesolutions.com

206-331-2749