I don't usually post the state of my business affairs, buy unless you’ve been hiding in a cave, you’ve probably seen the tumultuous financial news over the last week.Just thought it worth posting since this IS my life journal. This is financial analyst, Allen Hua's take on what we are living:
While the world watched, the US government extended its borrowing authority and there was a collective sigh. Before everyone caught their breath, the US stock markets went into a free fall. Global money managers poured cash into US Treasuries, driving mortgage rates downward in a hurry. Then the Labor Dept announced a greater-than-expected increase in jobs and markets began to recover, with rates moving back upward quickly. Financial markets closed on Friday but the financial news continued to flow with S&P downgrading the US debt for the first time in history. Opinions are extremely varied as to what will happen with interest rates and in financial markets this week. The truth is that we don’t know. We are in new territory in the financial world. The Fed meets this week and the world will be scrutinizing its policy announcement. Mortgage rates could easily go either way this week, with the potential for big swings in any direction.
ANYBODY WANT TO BUY SOME REAL ESTATE????????????
While the world watched, the US government extended its borrowing authority and there was a collective sigh. Before everyone caught their breath, the US stock markets went into a free fall. Global money managers poured cash into US Treasuries, driving mortgage rates downward in a hurry. Then the Labor Dept announced a greater-than-expected increase in jobs and markets began to recover, with rates moving back upward quickly. Financial markets closed on Friday but the financial news continued to flow with S&P downgrading the US debt for the first time in history. Opinions are extremely varied as to what will happen with interest rates and in financial markets this week. The truth is that we don’t know. We are in new territory in the financial world. The Fed meets this week and the world will be scrutinizing its policy announcement. Mortgage rates could easily go either way this week, with the potential for big swings in any direction.
ANYBODY WANT TO BUY SOME REAL ESTATE????????????
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