Prospect Mortgage Daily Rates – June 4th, 2009

Good morning!

MARKET UPDATE:  This morning the stock market is experiencing choppy trading due to gains by the financial sector offset by weakness in retail stocks after a few disappointing earnings reports.  The bond market is facing selling pressure this morning after the initial jobless claims report showed a decline for the first time in five months.  The unemployment report tomorrow morning should paint a clearer picture of the most important key to recovery, people finding jobs. Also, following a strong start, stocks have come under a bit of selling pressure, leaving the major indices to trade in mixed fashion. The improved tone comes after the latest batch of weekly jobless claims data, which saw initial claims move lower for the fourth straight week, as expected, while continuing claims surprisingly eased back. Still, labor markets are expected

to remain weak for some time, which casts a shadow on expectations for discretionary spending. As such, retailers have been reporting unimpressive May same-store sales figures, which is hampering shares of retailers.

Quotes of the Day,  

Greatness does not approach him who is forever looking down.

Hitopadesa

No great man ever complains of want of opportunity.

Ralph Waldo Emerson

If you did not care at all what anyone else thought about you, what would you do differently or change in your life?

       Brian Tracy

Conventional Rates                                                                                Jumbo Loan to $1M – 70% LTV Max

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Prospect Mortgage – Largest Privately Held Mortgage Banker in the United States.