Reading the paper this morning (please don't let us lose The Seattle Times!) was an absolute pleasure!  So much good news, I can hardly stand it.

President Obama is promoting his administration's efforts to lower mortgage rates with stories from borrowers who have benefitted from the program.  The goal of this program is to help borrowers who are current with their home loans, but who want to be able to keep more money in their pocket and to keep them more secure in their homes.   For further information on this program check out www.MakingHomeAffordable.gov

Wells Fargo is anticipating first quarter earnings of $3 Billion, after a fourth quarter loss of $2.7 Billion.  The $3 Billion is a record quarter for Wells Fargo.  The fact that money is cheap and mortgage applications are surging is a big part of this turnaround.  Looks like the efforts in The Other Washington may be making a difference for at least one of the big lenders.

Finally, Retail sales numbers are looking up.  Wal-Mart reported a 1.4% increase in March sales over last year.  Many other retailers reported sales that were higher than expected, but still down over 2008.  Nordstrom stock jumped 17.4% yesterday on news of its earnings.

I'm sure we have not seen the end of this downturn, but it is great to see several positive items in one day!

April 10, 1009