Fairfield County Real Estate Fairfield County Real Estate, Fairfield County Connecticut
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Fairfield County has been in existence as a Real Estate Company for over 49 years. Fairfield County Mortgage Company has been in existence since 1982.

"25 Years of Mortgage Experience"
Providing a superior level of informed services to buyers and sellers throughout Connecticut.

Fairfield County Mortgage Company
200 Mill Plain Road
Fairfield, CT 06824

Peggy Keegan
Tel: (203) 545-2131
Email: PeggyKeegan@gmail.com

Anne-Marie Keegan
Tel:  (203) 947-4586
Email:  Annemarie.keegan@gmail.com

Diane Galatie
Tel: (203) 259-9999
Email:  dgalatie@optonline.net

Contact us for the most up to date mortgage information.

Make Us Your First Call- it may be the ONLY call you need to make!!  ___________________________________

Good Morning - March 02, 2009

Headlines

FDIC Board Meeting including Assessment Changes

Politico: Budget Gamble, Why Obama Went Big

LAT: California unemployment rate reaches 10.1%

Treasury and Federal Reserve Board Announce Participation in AIG Restructuring Plan

NYT: Ukraine Teeters as Citizens Blame Banks and Government

Market Notes

The yield curve steepened on Friday as the short-end of the Treasury market rallied while stocks fell to new lows. Both the Dow and the S&P hit new 12-year daily lows. Fannie Mae reported a $25 billion fourth quarter loss and is tapping the Treasury for $15 billion in capital.

Two banks failed on Friday and were sold by the FDIC. The market continued to grapple with the President's budget proposal and the continued banking struggles. On Friday, the FDIC board announced increased assessments. Over the weekend, continued focus on banks' tangible capital ratios was highlighted in Barron's, which noted that BofA, JP Morgan, Wells Fargo, and a number of other banks have less than 4% of assets in tangible capital. This morning, stocks continue to decline following negative overnight news from around the globe.

HSBC had a devastating fourth quarter, will shut its US units except for credit cards, and will seek to raise additional capital. Eastern Europe is struggling, an aid package for eastern Europe was rejected by the EU, and the euro fell amid strains in European economies. AIG posted a $62 billion loss and the government is restructuring its bailout terms and will inject an additional $30 billion from the TARP.

European stocks fell 3% and US stock index futures are down roughly 2%. This morning, personal income and spending for January both came in better-than-expected. The data was boosted by "several special factors", according to the BEA. Treasury prices are up across the curve but the rally is fairly muted. Later this morning, the ISM manufacturing index will be released. Of course, Friday will produce the February employment report. Currently, forecasters are calling for unemployment to have risen to 7.9% in February. In California, however, the unemployment rate is already over 10%.

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PeggyKeegan@gmail.com
Your Mortgage Broker for Life
203-545-2131

 

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