Monday, November 2, 2015

Hocus Pocus

Did you know that rubbing Vick's Vapor Rub on your feet and putting socks on at night will HELP YOUR COUGH/COLD!?  I know... I thought that too, that my mother in law's 'trick' was a bunch of Mexican old wive's tale hocus pocus. But it works! Just ask my 5 year old that was cured the other night! Fever and non stop coughing, GONE!
 
Speaking of hocus pocus...have you closed your first TRID transaction yet? We have!
 
 
In the markets:
The statement released following Wednesday's Fed meeting was not good for mortgage rates. This week's economic data was roughly neutral. As a result, mortgage rates ended the week higher.

Central banks around the world have had a heavy influence on mortgage rates recently. Last week, the increased willingness of theEuropean Central Bank (ECB) to expand its bond buying program had a favorable effect, while China's policy changes had an offsetting effect. This week, it was the U.S. Fed. Even though many recent economic reports in the U.S. contained signs of a slowing economy, the Fed statement explicitly kept the door open for a federal funds rate hike at its December meeting. The hawkish tone surprised investors and caused an unfavorable reaction in mortgage rates.

Upcoming Events

Lunch & Learn:
TRID: Best Practices
Wednesday, November 4th
@ 12:00 pm

*Lunch Included*
RSVP: annette.ernstein@legacymutual.com

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