Video Mortgage and Financial Market Update for Nov 7th

Hello Friends,

I hope you are having a great Friday. I am happy to report that the stock market is in the black slightly and licking its wounds today from the largest 2-day drop in the history of the stock market Wednesday and Thursday. I am hoping it was a coincidence that it was the first two days following the election of President Elect Obama and that it was not all of the top 5% of wealthy American's pulling their money out of the market to avoid Obama's tax plan.

Unemployment reached 6.5% on reports this morning, a jump from last months 6.1% number. GM also announced a 2.5 billion dollar loss for the 3rd quarter and their investors are panicking as it shows GM stocks with a big sell off today over liquidity and cash concerns.

A small bright spot is cost for a barrel of oil nearly broke $60 today, closing a few pennies over $60. That is over a hundred dollar per barrel drop since July.

Please watch the video for further details.

Be Blessed!

Category:

News & Politics

Tags:

• Mortgage
• Financial
• market
• update
• mortgage
• rates
• unemployment