Market Comment

The results are in. The Labor Department reported this morning that more jobs were lost last month than expected and the Unemployment Rate climbed higher than expected to 10.2%.

In other news, both the House and Senate have passed the Homebuyers Tax Credit bill and it now awaits President Obama’s signature, which is expected today or tomorrow. The bill extends the tax credit for first-time homebuyers, as well as opens it up to current home owners. Contact me for more information if you have questions or would like to see if you can benefit from the tax credit.

Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Market Comment

The results are in. The Labor Department reported this morning that more jobs were lost last month than expected and the Unemployment Rate climbed higher than expected to 10.2%.

In other news, both the House and Senate have passed the Homebuyers Tax Credit bill and it now awaits President Obama’s signature, which is expected today or tomorrow. The bill extends the tax credit for first-time homebuyers, as well as opens it up to current home owners. Contact me for more information if you have questions or would like to see if you can benefit from the tax credit.

Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Market Comment

Stocks are rallying higher this morning. Although this would normally add selling pressure to Bonds, they are starting the day near unchanged levels.
Yesterday, the Fed issued its Policy Statement without any big changes or surprises. In today's news, Initial Jobless Claims was reported lower than expected and at the lowest reading since the first week of 2009. Continuing Claims also dropped, but this is likely due to benefits expiring rather than people finding jobs.
Despite today's better-than-expected numbers, tomorrow's official Jobs Report will probably indicate continued weakness in the labor market, with the unemployment rate likely nearing 10%. Bonds are currently holding their own; therefore, I recommend floating as we await tomorrow's report.

Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Market Comment

Stocks are rallying higher this morning. Although this would normally add selling pressure to Bonds, they are starting the day near unchanged levels.
Yesterday, the Fed issued its Policy Statement without any big changes or surprises. In today's news, Initial Jobless Claims was reported lower than expected and at the lowest reading since the first week of 2009. Continuing Claims also dropped, but this is likely due to benefits expiring rather than people finding jobs.
Despite today's better-than-expected numbers, tomorrow's official Jobs Report will probably indicate continued weakness in the labor market, with the unemployment rate likely nearing 10%. Bonds are currently holding their own; therefore, I recommend floating as we await tomorrow's report.

Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Mortgage Market Comment

Mortgage Bonds have opened the week near an important technical level while Stocks have been improving.
There are no Treasury auctions this week but there are several important potential market movers, including the Fed Meeting and Monetary Policy Statement on Wednesday, the Jobs Report with unemployment rate figures on Friday, and an expected final vote on the extension and expansion of the first-time homebuyer tax credit.
I recommend floating for now, but I will let you know if the news of the day or technical factors require a change of course.

Leonard Winslow, DominionTrust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Mortgage Market Comment

Mortgage Bonds have opened the week near an important technical level while Stocks have been improving.
There are no Treasury auctions this week but there are several important potential market movers, including the Fed Meeting and Monetary Policy Statement on Wednesday, the Jobs Report with unemployment rate figures on Friday, and an expected final vote on the extension and expansion of the first-time homebuyer tax credit.
I recommend floating for now, but I will let you know if the news of the day or technical factors require a change of course.

Leonard Winslow, DominionTrust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Your Daily Dose from DSNews.com

Email not displaying correctly? View it in your browser. Treasury, HUD Lobby for Extension on Tax Credit and High Loan Limits The Obama administration's top economist and housing czar have joined forces to persuade lawmakers to pass three key measures they said would further stabilize the housing market. Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan released a joint statement Thursday urging Congress to extend the popular First Time Homebuyers Tax Credit, secure funding for the planned Housing Trust Fund, and retain higher loan limits for federally backed home mortgages. TARP Inspector Scrutinizes Federal Housing Program Neil Barofsky, Congress' special inspector general for the Troubled Asset Relief Program (TARP), makes no bones about his frustration with the Treasury's management of the $700 billion purse. Earlier this month he accused the Treasury of misleading the public. In his most recent dissertation, he threatened to subpoena the White House and Treasury Department and dissected the administration's Making Home Affordable program, rebuking Treasury officials for not adopting recommendations his office has made for the program. Judge Delays Sale of Capmark's Servicing Business A federal judge ordered Capmark Financial Group this week to push back the deadline it had set to receive bids for its commercial mortgage servicing business. Capmark, one of the nation's largest commercial real estate companies, surrendered to the sector's continuing deterioration and filed for Chapter 11 bankruptcy Sunday. California Loan Mod Agents Kidnapped, Tortured for Not Saving Home The despair and desperation that often accompanies a foreclosure seems to have gotten the best of one California couple - but it turned to outright violence when they kidnapped and beat the loan modification consultants they'd hired to help them. Our mailing address is: DS News 2603 Oak Lawn Avenue Suite 500 Dallas, TX 75219 Add us to your address book Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2009 Five Star Conference DARE

Rob Alley, Realtor
Keller Williams Realty
540-250-3275
roballeyrealtor@gmail.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.robsellscharlottesville.com
Oh, by the way, I am never too busy to work any of your referrals.
Each Office Independently Owned and Operated
Licensed to Sell Real Estate in the Commonwealth of Virginia