Market Analysis

Bonds are continuing to inch higher as the stock market opened weaker primarily on a hang over from Bank of America's dismal quarterly earnings report yesterday.  Today, DuPont, McDonald's, AT&T, Kimberly Clark and Lockheed Martin all reported earnings in line or higher than expected.  However, DuPont's earnings statement included concerns about the rest of the year due to weakness in the US economy.  Texas Instruments also reported that their profits rose but significantly cut their earnings estimates for the current quarter due to weakness they are seeing now for their chips used in cell phones.  Our recommendation for today continues to be to hold off on locking to see whether we can squeeze out some additional improvement in rate.    However, you should be ready to lock quickly should the market switch directions.   If you think you may want to use Iron Harbor, we recommend having your loan set up and ready to go with us so that we can get your loan locked asap once you decide to use us.  The first step with Iron Harbor is to be pre-approved.  You can access a short application form at http://www.ironharbormortgage.com/xSites/Mortgage/IronHarbor/Content/UploadedFiles/Iron%20Harbor%20Short%20Application.pdf
 
Posted by Matthew Breston on April 22nd, 2008 10:33 AMPost a Comment (0)
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