New Home Assistance Program
Stocks were flat today, but bond interest rates continues their slow climb upward.
The Dollar was flat, but oil/gasoline went up, and gold went down a little.
In the news today…..
New Home Assistance Program – is now going to start on April 6th. The program will encourage home owners who are underwater and want to get out of their house by offering them $1500 relocation expenses to do a “short sale”. The mortgage servicer will get $1000 and the second mortgage holder will get $1000 too to grease the wheels of the short sale. What does this really mean? It means there will probably be more short sales. And, it means the home prices will probably continue to go down, as the buyer in the short sale only wants a “deal.”
China – has hinted it will break the link with the US Dollar with its currency. This means it will look at protecting itself in the new world exporting order, and keep its currency level low enough to keep exporting (the main engine of their growth) and still expand into the 21st Century.
Here are the last numbers for today:
Dow Jones 30 Industrial – 10,553 (down 14)
10 Year Treasury Bond – 3.71% (up 0.03%)
Euro – $1.3632
Gold – $1124 (down $11)
Oil – $81.77 (up $0.27)
Gasoline – $2.29 (up $0.02)
