Danny Salas

Chico, CA Interest Rates Market Report – Economic Influences – April 16, 2010

SEC Files Fraud Charges Against Goldman Sachs

SEC Files Against Subprime Giant

We have finally broken through the 25-Day Moving Average and Bonds are benefiting as Stocks suffer, lead by the Security and Exchange Commission’s charge of Fraud, against Goldman Sachs and their involvement with the Subprime Mortgage Industry.

Housing Starts

Housing starts climbed to 626,000, in March, and have moved twenty percent higher since last year.  New Housing Permits also climbed higher than expected, to 685,000.  This is good news for housing, as it’s a pretty strong report!  I’m glad to see some optimism in the building industry, however, as I have stated over and over again, we need jobs to move that inventory.  So, I just hope that the building is responsible.

“Judas” Hoenig Speaking Today

Kansas City Fed President, Thomas Hoenig, will be speaking today.  Hoenig has been the long time dissenter of the Fed, requesting that the “extended period,” language be removed from the Fed’s Policy Statements regarding low interest rates.  He’s expected to discuss his reasons for his departure from the rest of his clan.  These statements, alone, could move markets, so we’d better be paying attention.

Thomas "Judas" Heonig Speaks Today

Locking Advice

I’d float, into the day, to see is any of Hoenig’s statements move markets.  Floating is prudent, here, because money’s pouring out of Stocks, while the market digests the results of the Fraud Charges filed against Goldman Sachs.

Related Must Reads

Read This Carefully: A Look Into “Judas” Hoenig’s Concerns
Trend Lines: Why They’re Significant To Rates
The REAL Jobs Numbers: What’s Your Point?

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This entry was posted on Friday, April 16th, 2010 at 8:01 am and is filed under Chico Home Loans, Home Buying, Interest Rates, 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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