stock market mortgage watch

Stocks got hit hard last week as a follow through to sell off. They may see a bounce here due to technical and machine buying & selling. It is more likely that they fall to than rallying in the coming days. Should this happen, we will likely see a good bounce in bonds (remember, when bonds go UP, rates come DOWN), however even with stock in a massive sell off, bonds are selling off too (meaning rates are heading higher today) thanks to a somewhat favorable non-farm payroll report. I see noise in those numbers and I am concerned that 1/3 of the new jobs created were from Uncle Sam hiring people-Our tax revenue is down, our debt level is up to historic levels, which also drags down income, hurts the value of the dollar, yet we added 400k new government jobs?

There will be some extreme volatility in the markets because volume will be light and the big traders have checked out for the long weekend, leaving the little guys to struggle with their emotions.


Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140


About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 46 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 26 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.