Submitted by Shawn Headlee
Good Morning All,
 
How about those Oregon Ducks!! I hope you all got to enjoy the game this weekend. 
 
It was a rough day on Friday for the stock market, but the bond market did well where rates are concerned. The 30 year fixed is approaching 6%. This is mostly due to the markets believing that the economy is slowing. Country Wide Financial announced today that they were laying off approximately 12,000 employees. I don’t think CWF is going to go bankrupt, but this is a sign of how bad the mortgage market has become.  
 
Housing inventory is up and rates are down, that is a great recipe for a strong buyers market. It has been a few years since we have seen one of those!!
 
Have a great week!