Today the Labor Department reported that employers shed 95,000 workers in September and was a lot worse than anticipated. The Unemployment Rate remained at 9.6%. The report has helped to push Mortgage Bonds to record high levels.
Because this information gave a confusing picture with no clear outlook, the discussion over Quantitative Easing 2 (QE2) is heating up more than ever and there may be an announcement on QE at the next Fed meeting on November 3.
Could rates on a 30 year fixed rate drop below 4%?
Wow!!!
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