Live Oak Capital

The yield on the 30-year Treasury fell to the lowest since regular issuance of the securities began in 1977.  Widening financial turmoil wiped more than $10 trillion off stock markets worldwide this month and many foreign currencies lost value as the credit/liquidity issue impacts foreign banks and governments. Consolidation in the banking sector continues as several banks are considering using allocations from the $700 billion Federal rescue plan to acquire other banking institutions. Multi-family agency mortgage rates declined approximately 50 basis points from last week as uncertainty in the market has a pogo stick effect from week to week.