Rates slightly lower

Mortgage rates started off the week slightly lower and followed the trend down all week long as stocks fell due to a mix of profit taking and worse-than-expected economic data.  This data included lower-than-expected housing numbers and a weak manufacturing overview.
 
Employment numbers were released this morning that showed that another 263,000 jobs were lost in September, higher than the 175,000 that was expected by economic analysts.  I look at it this way..."employment conditions are negative, but improving".  It seems the media forgets to mention this.
 
While the economy has stabilized, the recovery will be slow and inflation will remain subdued for a period of time.  And when inflation is kept under control we will continue to see rates at their all-time lows for an extended period.  Hopefully, buyers will understand this and not only take advantage of these low rates but also the much lower property prices.
 
Have a great weekend!..Tom
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