Gold Soars as the Dollar Continues to Decline

November 9, 2009

Daily Mortgage Updates

A&N Mortgage Logo9 November 2009 ?Bonds opened today at 6bps and have moved to a current day change of up 6bps. The upcoming week may not provide the same market-changing events such as the first-time home buyer tax credit extension and unemployment figures did last week. Notably, the Treasury will auction off $40 billion in 3-year notes at 1PM ET today. This auction will play a significant role in determining how pricing will shape up for the rest of the day and throughout the week. The weekend layoff did not slow down the stock market, as the Dow, Nasdaq and S&P 500 are all up nearly 1.5% during trading today. The dollar reached a 15-month low after a G-20 meeting reported that the dollar?s strength is wavering towards a medium equilibrium. Naturally, gold soared above the $1100 plateau and is showing no signs of slowing down as it and other commodities continue to be the hot picks of investors. Expect the market to continue its upward trend as more and more companies continue to report 3Q earnings. Many looming company acquisitions, such as Google?s purchase of technology provider AdMob, may help the market as well. Mortgage rates remain strong with 4.750% (4.799% apr) on the 30 year and 4.25% (4.334% apr) on the 15 year.

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About Chris DePaepe

Chris is a lifelong Chicagoan who was born and raised on the Northwest side. She has a business degree from Rosary College in River Forest and a MBA in finance from DePaul University. She has been in the mortgage industry since July of 1996 and understands the importance of educating clients about the process of purchasing or refinancing a home. Chris?s education and customer service separates her from her competition, from taking an application at 11 p.m. to doing a closing in the convenience of your home, customer service is her #1 priority! With her extensive financial education she is able to pass along critical information to potential clients about mortgage interest and the differences between a 30, 25, 20 and 15 year loan. Chris will run every amortization chart and spend a great deal of time explaining the savings on your mortgage interest by showing actual examples. Also, most first time buyers do not understand the tax advantage of owning a home and she will break that down and show the actual tax advantage of owning a home versus renting. Chris prides herself on taking the time to fully educate every buyer so they are aware of the process from the beginning to the end without any surprises. Whether you are looking to refinance or purchase a home, understanding today?s market is extremely important to getting your loan approved. You can contact Chris 24/7 at chrisd@aandnmortgage.com, 773-305-7016, or 773-848-4144.

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