Get Your Mortgage Phil: Florida

Stocks Tumble this week as predicted and send mortgage rates lower!

I hate to say I told you so but this week was how I saw things happening by looking at the chart of IWM and TLT about a week ago in two of my previous blogs.

See here what I saw looking at the IWM chart.

Here is what it looks like one week later.

 

 

From here a bounce is likely but I don't think we will be seeing new highs any time soon.

 

Mike

Michael Cantwell

Sales Manager - Builder Renovation Branch - Palm Beach Gardens, Florida

My website - www.MichaelCantwell.net

My cell 877-226-3517 or  local in Palm Beach County at 561-262-5366

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1 comment • Michael Cantwell • May 09 2010 09:22AM

Boom and Bust is what we have here!

Boom and Bust is an age old cycle.  How do we stop it is the question?  Better yet can we or are we just fooling ourselves?  Great Video gives some perspective!

 

 

Michael Cantwell

Sales Manager - Builder Renovation Branch - Palm Beach Gardens, Florida

My website - www.MichaelCantwell.net

My cell 877-226-3517 or  local in Palm Beach County at 561-262-5366

My Outside Blog Florida Renovation Loans

My Active Rain Localism FL Mortgage

Breaking Local News for Palm Beach County Florida - JupiterPalmBeachNews.com

Florida Domains

 

               

2 comments • Michael Cantwell • April 15 2010 05:02AM

The I's have it. World Central Banks start cranking it up!

The I's, meaning the two countries that start with an I have recently raised rates.  Israel raised interest rates in late 2009 and this week India followed suit with an increase in rates.  It isn't just countries that start with the letter I that raised rates in the last few months but this move this week is the one that hit my radar screen the most.  In addition to Israel and Norway raising rates at the end of 2009.  Malaysia and Australia raised rates earlier this month.

The move by India's central bank now makes 5 central banks raising rates.  The Reserve Bank of India said that this is the first of what may be multiple moves to make sure inflation doesn't get out of control from all the cheap money the last 2 years.  Stocks in India didn't respond well with this move.  With the Fed raising the discount rate but not the fed funds earlier this year, they half stepped it as our economy still remains soft.

The effect on mortgage rates seems muted so far but other moves but other central banks are worth watching in the coming months.

 

Michael

Michael Cantwell

Sales Manager - Builder Renovation Branch - Palm Beach Gardens, Florida

My website - www.MichaelCantwell.net

My cell 877-226-3517 or  local in Palm Beach County at 561-262-5366

My Outside Blog Florida Renovation Loans

My Active Rain Localism FL Mortgage

Breaking Local News for Palm Beach County Florida - JupiterPalmBeachNews.com

Florida Domains

 

               

2 comments • Michael Cantwell • March 21 2010 10:37AM