Orlando Mortgage Blog

Points improved a little this AM with the ADP report showing a little hiring in the private sector though minor, the 10 year was down about 3 bp and most market traders are in a wait and see mode to see what the Fed FOMC announcement early this afternoon will actually be. It's expected that they can annoounce from $0 to $2 Trillion in additional QEII being pumped in the economy with most guesses somewhere around $500 Billion over the next several months. I still wonder what happened to the $700 Billion that was left as I last heard it, still unspent from shovel ready projects that weren't, from QEI...guess it's still in the congressional general fund, hate to let an approriated tax dollar go to waste when you can just print more, right? Yesterday's election results are yet to be fully felt, but I don't believe there were any surprises not already factored in by many in the market.