The Veridian Blog

Last week, the core reading for the Producer Price Index rose 0.3% versus 0.1% expected, indicating that inflation is on the rise, however, we feel that the overall bias is still on a downward trend.  The Labor Department reported that 500,000 new claims for unemployment benefits were filed the previous week, which was well above forecasts indicating that the employment sector is weakening and not improving.  The benchmark 10-year Note hit a ridiculous new low at 2.57% on Thursday, but has since edged up a little - this morning, the yield is at 2.61%. 

This week we have Existing Home Sales and Durable Goods Orders, giving us an important measure of manufacturing sector strength.

As we continue to plod through the unprecedented volume of refinance applications, please keep in mind that time is REALLY of the essence.  As turnaround gets longer and longer it becomes more important to respond to the lender's requests in a timely manner.  Thanks for all your patience if you have an application in process - we will meet all your expectations and try to have fun along the way!