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MMGtweet

  1. Stocks, as measured by the S&P 500, have fallen nearly 7% in May and is the biggest monthly decline since September.
  2. GDP falls to 1.9% from the initial read of 2.2%, weekly jobless claims at 383K up 10K, ADP reports 133K private jobs vs 157K expected
  3. Fed's Fisher says U.S. economy is just above stall speed, but moving forward.
  4. Pending home sales drop 5.5% in April, down from the 3.8% rise in March.
  5. The current yield on the 10-yr Treasury note of 1.67% is the lowest in at least 60 years.
  6. The national average price for a regular gallon of gasoline is at $3.63, down from $3.81 a month ago.
  7. Consumer Confdence falls to 64.9 in May, well below the 69.4 expected, but the Stock markets shrug off the bad news and push higher.
  8. The Case Shiller Home Price Index sees a modest 0.1% rise in March for the 20-major cities surveyed, down 2.6% year-over-year.
  9. Thank you to all of those brave souls who gave their lives in the line of duty for this great country.
  10. All U.S. capital markets will be closed on Monday in observance of Memorial Day.
  11. The Bond markets will close at 2:00pm ET today - Stocks will be open for a regular session closing at 4:00pm.
  12. The 30-yr conventional mortgage rate fell to a record low 3.78% last week, to obtain that rate a borrower must pay a 0.8 point.
  13. The FHFA reported today that home prices rose 1.8% in March from February on a seasonally adjusted basis.
  14. Fitch Ratings says home prices won't reach a bottom until late 2013 and could fall 7.8% from current levels.
  15. New Home Sales rise 3.3% in April to 343K units annualized.
  16. The CBO says the US could slip into a recession if budget measures aren't addressed and if Bush-era tax cuts expire.
  17. #Mortgage Leadership Today: Just released list of speakers include… MortgageLeadership.com #MLT2012
  18. The national average price for a regular gallon of gasoline is at $3.68, down from $3.86 a month ago.
  19. Existing Home Sales rise 3.4% in April to 4.62 million units on a seasonally adjusted basis.
  20. Facebook shares open at $42.05 after the IPO.