That sentiment was definitely felt in the financial markets last week, as the problems in Europe continue to dominate the headlines and influence market direction around the globe. So what exactly is going on…and what does all of this mean for our economy and for home loan rates? 

Due to financial instability in several countries in Europe – including Portugal, Ireland, Spain, and most notably, Greece – the European Central Bank along with the International Monetary Fund unveiled a $955 Billion loan package. Additionally, in a plan similar to our TARP plan in the US, the European Central Bank will purchase Bonds and private debt from the countries facing instability.

However, it seems that nearly a Trillion dollars doesn’t go very far these days, as the announcement didn’t lead to the confidence that was hoped for. There is concern about how these already financially strapped countries will pay for all this additional debt, along with skepticism over whether Greek austerity measures will take root…and many wonder if the European bailout plan is just a temporary band-aid rather than a solution.

The result continues to be a weaker Euro, as you can see in the chart below. At $1.24 per each Euro, the price is well off where it was a few months ago, when it cost nearly $1.60 for each Euro.

Big Horn Country Club is nestled in the foothills of the Santa Rosa Mountains high above Palm Desert, California. The views are phenominal from the two 18-hole courses.  The Mountains course was designed by Arthur Hills (est. 1991) and is a target course with lots of bunkers. Many elevation changes…the views are stupendous! The Canyons Course was designed by Tom Fazio and established 1998. Carved into the hillside this course has wide rolling fairways and fabulous water features. This was the site of the 2000, 2001 2002 Battle at Bighorn.

“Federal officials discovered Indio’s get-tough strategies were effective when dealing with foreclosures and vacant or empty houses.” For the complete story follow this link:
http://www.mydesert.com/article/20100512/BUSINESS04/5120314/Feds-laud-Indio-s-moves-to-fight-blight

Palm Springs Farmers’ Market is open every Saturday morning from 8 am to 12:30 pm.  It is located on the north side of the Camelot theatres Theatres at 2300 E Baristo at Farrell – in Palm Springs. The Certified Farmers Market (CFM) brings local farmers and vendors together to showcase the fruits of their labor. The CFM is a gathering place where the community can learn about the importance of nutrition, fresh produce and organic options. The market features farm and food only vendors.organic and transitional produce, herbs, lavender,cheese, bread , honey, nuts, eggs, olives and olive oil,fresh cut flowers, orchids and plants and much more. A Market Chef booth features recipes, culinary delights, educational materials. and guest chefs from around the Coachella Valley. We will also have “Music at the Market” from 9 am to 12. Free Dog sitting is available from 9 am to noon through Fetch Pet Care and Bark Busters. More info: 760-898-5250.

Total housing starts are up for the third month in March across California, signaling the worst of the housing downturn may be over, the California Building Industry Association said Monday. For the complete article go to:

http://www.mydesert.com/article/20100427/BUSINESS04/4260338/1043/business04/Region-s-housing-front-shows-positive-signs