Market Update - May 5, 2010 - Mortgages and Finance

Over the weekend, the European Union (EU) and the International Monetary Fund (IMF) announced an aid package for Greece.  The announcement has done little to calm fears that Greece’s fiscal crisis may spread to other European countries.  As a result, Europe and U.S. stock markets have been battered and treasury prices have benefited.  Mortgage rates are down again this morning.  There are several economic reports out this week including the April Unemployment Report coming on Friday, but the focus will continue to be on the Greek situation and the resulting effects on stocks.

If a new home in the Myrtle Beach area is on the horizon, be sure to call your local real estate expert, Jake Lee 843-240-0431 and visit him on the web at www.SCRealEstatePartners.com to start your home or condo search today!

Need a loan? Call Mike Hogue 843-685-2465 to get pre-qualified and find out what you can afford. Mike is also available 7 days a week to answer any questions you may have about mortgage financing.