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01.08.16- And today continues the craziness. Everything was up and now flatter then a pancake.

Double the trading volume this morning and the market was making a big run before the bell and it is starting to fizzle out. Oil was gaining but now is losing again. Retailer's are getting beat up so the holiday season wasn't  a success. Mortgage Backed Securities our rate drivers are flat after getting beat up some this morning. Almost all gain are now gone from stocks. This morning job report fueled the big gains but adding 292,000 $10 an hour jobs is not going to sustain a consumer driven country with low wage employment. Participation rate increased a little to 62%, image our housing market if we can add an additional 8-10% into the work force. 

The early in the year Chinese meltdown has greatly reduced the odds of near future rate increased. Some polls show less than a 45% chance of having another increase before April, so we are seeing it get pushed out into the 2nd quarter. This pretty much sets us up for a very successful first quarter barring any weather events or additional geopolitical dust ups. Let's hope everyone is back to work in the markets on Monday and are in good moods and we can make these rate a little for borrowers, purchasers and sellers. And in the time it has taken to put this post together all Mortgage Backed Securities have turned positive! Happy 1st Friday and happy showings turning into contracts!