Wisconsin Mortgage Update 11-18-2008

Mortgage bond prices are slightly positive this morning following mixed producer price index data. The producer price index fell 2.8%, a record low and considerably lower than the expected 1.8% decline. The core, which excludes volatile food and energy prices, rose 0.4%, higher than the expected 0.1% increase. Stocks are near neutral to slightly positive but general doom and gloom continues across most of the major headlines. Recently Citigroup said they are laying off 50,000 people. The domestic automakers continue to lobby for funds to keep afloat. They will appear before the Senate Banking Committee today to plead their case. Expect trading conditions to be more of the same. With so much uncertainty throughout the US and global economies, volatility is likely

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