Oy-vay, what a day!

It was a whirl-wind day in the media with Lehman Brothers (bankruptcy), Merril. Lynch (bailout acquisition by BofA), and AIG (cry for help to Uncle Sam) Driving a 500-point loss in the DOW. All just one week after the greatly anticipated federal gov’t takeover of mortgage giants Fannie Mae and Freddie Mac. WOW!

I’m touching base with you to let you know that in the midst of all of this, the mortgage market is holding steady. Sure, we’re experiencing some growing pains – guideline changes continue to keep us on our toes – but we are rolling with the punches, I am here and accountable for you.

I imagine in the short-term mortgage rates will be volatile but in the mid-term, the restructuring of Fannie and Freddie should even things; hang in there and I’ll do my best to keep you updated!