Saturday, September 23, 2006

The week in review

  • DJIA dropped 0.46% or 52.67 points to close out the week at 11,508.10.
  • S & P 500 lost just 5.09 points, 0.39% and closed Friday at 1314.78.
  • Crude oil fell another $3.47, 5.42% and was trading yesterday afternoon at just $60.55/bbl.
The Fed's Board of Governors met this week and, for the second consecutive meeting, left the discount rate alone. And while the multitude of economic measures are almost always a mixed bag, there seems to be mounting evidence that the U.S. economy is slowing too quickly. So, if you're worried about that adjustable-rate mortgage that you got a few years ago, there's still hope. Mortgage rates have dropped significantly in the last couple of months and if, six months from now the Fed reverses course, it could be an ideal opportunity to lock in a long-term fixed rate.

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