Danny Salas

Chico, CA Interest Rates Market Report – Economic Influences – December 9, 2009

Treasury Auction Fared Well!

Dubai And Greece Facing Financial Woes

Seems as though Dubai may be having more troubles than just their privately held company Dubai World protrayed.  Also, Greece’s credit rating has been lowered and they’re in more financial troubles and having a greater hardship, than previous recognized.  These surprises lead to a global panic attack regarding Stock Holders funnelling their funds into the safe-haven of U.S. Bonds.  This helped rates, but should only be short lived. 

3-Year Treasury Auction

Yesterday’s Auction of $40 Billion in 3-Year Notes fared fairly fair.  The above mentioned turmoil helped a bit, and hopefully, will carry into today and tomorrow’s auctions, as well. 

TARP Extended

The Obama Administration annouced that they are going to extend the Troubled Asset Relief Program (TARP) until next October.  The program will be used to help homeowners facing foreclosure and help with credit to banks that lend to small businesses.  Small business is a huge employer, so this should help the economy. 

Locking Advice

Again, it doesn’t get much better than we’re currently seeing.  If you choose to float, better do so cautiously.  So, locking might be prudent, however, keep in mind that the Treasury Auctions might bring rates slightly lower.  Get Twitter updates on when good times to lock are!  Sign up below…

 

Related Must Reads

Dubia’s Initial Troubles
Dubai Clarification
Why Be Leery…Will 10-Year And 30-Year Treasury Auctions Fare As Well…A Look Into The Risks

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This entry was posted on Wednesday, December 9th, 2009 at 8:33 am and is filed under Chico Home Loans, Home Buying, Weekly Market Report. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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