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September Existing Home Sales 
Earlier this morning the September Existing Home Sales figure was released, showing a whopping drop of 8.0%. The mortgage bond market rallied briefly on the news and has been able to hold on to it's gains. This is the lowest number for Existing Home Sales in 8 years.

I'm sure this is something that was not a surprise to anyone. Everything I read, see, or hear about housing is doom and gloom. Certainly housing is taking a beating, and part of the problem is due to borrowers being sold loans that were not in their best financial interest.

I am surprised that people aren't buying homes, especially since everyone needs a place to live and there are some very good values out there. In my opinionm, housing is one of the biggest drivers of our economy. The more homes that are sold, the more work there is throughout the economy. I guess what I'm trying to say is, "It's time to buy a home."

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A Good Friday for Mortgage Rates 
Well, another week has passed and it's time for the weekend. A trip to the Pumpkin Patch is on the schedule for tomorrow. Before I go I wanted to let everyone know that mortgage rates improved roughly a 1/4 (0.25) point today. The 10 Year Treasury dropped over 100 basis points today to a rate of 4.401%, the lowest it has been in quite some time. These are positive happenings for the mortgage market and the real estate industry.

Have a great weekend!

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Seth Tobias 
I heard some sad news this morning. Seth Tobias, hedge fund manager for Circle-T Partners has died. He managed a very large fund for Circle-T and lived in Florida. Apparently he died of a heart attack, but the interesting news here is that Tobias and his wife had a personal assistant who claims that Tobias was murdered. He also says that he has video of the crime. Police say they are investigating the death, but did not say anything about it being a murder.

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Welcome to Brett's New Blogspot! 
Here you will find all the latest information in todays competitive Mortgage Market. Check back often...

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