Happy Friday to all investors out there. Sorry for the delayed post. Many of you may be out there ‘marinating’ your ice cubes, and wish I was too, but first things first. Some of you may be wondering what happened today. We have had a pretty good week, although stagnant. Mortgage backed securities remained low all week, even through Big Ben’s stern words to Congress to get their act together, etc. But today’s all important non-farms report had some big surprises. The first was 243,000 more jobs were created, than lost for last month, surprising because most experts were ready to see 150,000. Also, the unemployment rate dropped from 8.5 to 8.3%. Now these numbers still aren’t all that fantastic, but, consider this; we haven’t seen jobs created at this level since February 2009! Also, since August of 2011, we have seen the unemployment number drop .8% over the past 6-7 months. So it seem that the economy is showing signs of life, not huge gains, but enough to make investors flee the safe havens of bonds and MBS for stocks over at the ‘Wall’.
BawldGuy Here: A factoid we shouldn’t ignore is that in this report, about 1.2 million Americans gave up lookin’ for work, and therefore, weren’t including in the stats. That tends to skew the numbers. Geez, ya think? 
This is an important time to keep an eye on stocks and just overall activity on Wall Street as yes, the economy is showing signs of life, but look out for the follow up to a 1-2 punch; they are still trying to work out a deal over in Greece to prevent a complete default. I no longer thing it is possible, it is probably quite probable. Inevitably they will strike a deal to bail out Greece and when they do, it will be another shot in the arm for the stock market.
The sky is not falling and I’m not saying we’re going to see rates skyrocket, just thought you need to keep your eyes and ears open to what’s going on right now.
On to the rates:
Assuming 20% down for SFR, and 25% down for 2-4 units
30-yr. Fixed Rate mortgage can be leveraged at 5% for SFR
30-yr. Fixed Rate mortgage can be leveraged at 4.875% for 2-4 units
That’s it from me, now go out there and enjoy your weekend, and if time permits, give myself or the Bawldguy a fix! We love this stuff!
Oh yeah, if you’re a football fan, like I am, I heard there’s a big game on this Weekend. Enjoy responsibly and be safe!
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