RECENT BLOG POSTS
Weekly Mortgage Update The Middle East continues to be the major influence on the world money markets and the ‘flight to safety' effect continues. In case you are new to my updates, the ‘flight to safety' effect is simply the idea that if someone is going to give you their mon...
Market Comment - Week of March 7th, 2011 Mortgage bond prices fell last week pushing mortgage interest rates considerably higher. Turmoil in many of the oil producing countries continued to push oil prices higher. Weekly jobless claims came in significantly lower than expected which sent mortgag...
Good news continues this week showing us that the economy is picking up steam. The ISM Service Sector index (a measure that encompasses roughly 90% of our domestic economy) reached it's highest level since August, 2005. New manufacturing orders rose to their highest level since January ‘04 an...
Market Comment - Week of February 28th, 2011 Mortgage bond prices rose last week helping mortgage interest rates fall. Turmoil in many of the oil producing countries sent oil prices skyrocketing higher. Normally rising energy prices cause inflation fears but we are not in normal times. Rising en...
This week's economic news was dominated by the continued unrest in Northern Africa and the Middle East. Fears pushed the stock market down and the bond market up. In times of uncertainty, money finds a ‘safe haven' in the US bond market. This was good for rates as we saw them drop just a bit ...
Market Comment - Week of February 21st, 2011 Mortgage bond prices rose last week helping mortgage interest rates fall. Weaker than expected industrial production data helped start the week on a positive note for lower rates. Retail sales rose 0.3%, weaker than the expected 0.5% increase and very...
Hello Everyone, Important information about the FHA changes wanted to Post what I sent out via email. This came directly from David Stevens and is a public message for all. I feel it very important to get this out to as many agents as possible. Just the first of many possible changes this year!
Market Comment - Week of February 14th, 2011 Mortgage bond prices fell last week pushing mortgage interest rates higher. The Treasury auctions were mixed. The 3YR auction showed weak foreign demand and resulted in a sell off following the results. The 10YR auction was decent and helped keep thin...
We all know this right? Everyone I talk too I find myself using this quote more and more. "Banks....don't.....care...." 1) I want to buy this short sale why won't they respond faster? Banks don't care 2) Banks should want to get this home off of their books right? Banks don't care 3) Wh...
Market Comment - Week of February 7th, 2011 Mortgage bond prices fell last week pushing mortgage interest rates considerably higher. We were deluged with mostly better than expected data and strong stocks as the DOW eclipsed the 12,000 mark. Weekly jobless claims printed at 415K, weaker than the...