Housing reports came in under expectations but had minor impact on the market.  What Wall Street is gaining life from is the wording and actions that will come from the Federal Reserve statement of Quantitative Easing.  This also will support homeowners to sustain these low levels of interest rates for the short term.  Speculations continue to point to the next Federal Reserve meeting in November which may have significant impact on both Wall Street, Bonds and Mortgages. 

Volatility will continue to be the pattern with any good news coming from the economy will spur the stock market and may come at the expense of Bonds and Mortgages. 

We will continue to monitor this daily for you and keep you in the know.  Have a great weekend and we will be back Monday. 

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