It is Friday again!  Some good news for interest rates here at the expense of the stock market.  The bond market will have a battle ahead in order for rates to get much lower yet it looks as if it will happen and here is why.  The Stock Market has and will continue to dip or perhaps plunges the President outlines his sketchy new proposals for the Banking Industry.  The Presidents comments about this process have come under plenty of angry fire from both political sides.  NYC Mayor Michael Bloomberg has been very vocal about the changes the President wants to see take place and has said it will cost many Americans their jobs.  Thats the only comment that I have heard him make that I agree with and it will cost Americans their jobs.  It will also make the U S Banks far less competitive in the global market.  Another reason we are seeing the stock market fall is because of the  U S  Senate and the lack of a vote to confirm Ben Bernanake as the Fed Chairman.  I thought this confirmation would have been voted on a month ago.  It now seems the Senate is looking to hang some one for the economic melt down.  They are looking into what the Fed’s roll was and if there was anything they could have done differently that would have had a better result.  All of this is pushing interest rates downward.  Keep in mind this is not a event  that will keep rates down for an extended period of time.  It is the bump in the road that I look for when trying to get you the consumer the best rate possible. 

I think we could see this continue well into next week