Indicated rates and market comment

Conventional 30 4.875 0 + 1
Conventional 15 4.500 0 + 1
FHA/VA 30 5.000 0 + 1
FHA/VA 15 5.000 0 + 0
"Bonds are modestly higher in early trading this morning, while Stocks are sinking due to more negative talk about the financial system.
In the news today, the International Monetary Fund will reportedly release new forecasts that suggest toxic assets in the US could reach about $3 Trillion, which is $1 Trillion more than the forecast three months ago. Also adding selling pressure to Stocks is word from hedge fund giant George Soros that the US banking system is insolvent and that the economy won't recover in 2009.
With Stocks under selling pressure currently and Bonds holding above a floor of support, I recommend floating for now. If the situation changes, however, I will let you know."

Submitted by Leonard Winslow of Dominion Trust Mortgage

Rob Alley, Realtor
The Avery Group at Roy Wheeler
540-250-3275
roballey@roywheeler.com
http://www.robsellscharlottesville.com/
http://www.forestlakesliving.com/
http://www.theaverygroup.com/