End of the Week Market update This ended up being a pretty ugly week for interest rates.  Yesterday's Treasury Auction pushed the yield on a 30 yr Bond up to levels we have not seen since November. This caused a sell off in the stock market along with a sell off in the mortgage market.  (Lately that is a very unusual scenario). Every day This market gets more and more difficult to call. This Mornings Employment Data was released with the Headline number of 8.9% for the Jobless rate matching expectations, while there was some good news with the Non Farm Payroll number showing a loss of 539,000 jobs VS the estimate of 620k... so a bit of a mixed bag on this report. Thursday we also saw a mixed bag with the "stress Test" for banks.  Guess what? Most banks need more money based on the st... 05/08/2009

Welcome to On Location in Toms River, NJ: CLICK HERE FOR VIDEO! 05/05/2009

   The Economic calendar is a full one this week, with a record setting $70+ Billion in treasuries being auctioned, Fed Testimony and the employment report to round out the week.  One other thing to add to the mix this week is one that I don't ever recall seeing: The bank "STRESS TEST"; so a new report to mess with the market's mind! Here is the calendar for this week: May 4, 2009: Monday, May 4: No data released today. It has been a pretty flat market today with Fannies trading in slightly positive territory in the absence of any data. TuesdayMay 5: Institute of Supply Management service index, expected 44.6 VS 44.1 last month. This slight improvement is not likely to move rates. Tuesday: Fed Chairman Bernake testifies before the Joint Economic Committee of Congress. Most likely a non ... 05/04/2009

   Below is a great chart of interest rates for the past 20 years. A few things to note: If you went back a few more years than shown on this chart, rates were MUCH higher in 1989 I paid 11.25 on my first mortgage! Points were very much the norm years ago, so the averages are artificially low Updated for the first quarter of 2009 you can see we are a full percent lower than last year! Keep in mind that interest rates can fluctuate greatly from one buyer to the next based on credit score, LTV, Loan amount, property type, Purpose of loan Etc... I thought this would be a great tool for you to use! Have a great week Rob Robert Rauf Mortgage Banker www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf (732)223-1630 x102 Since 1987 I have been helping my clients fulfill ... 04/28/2009

   Ocean County College Sailing and the Barnegat Bay Yacht Racing Association Barnegat Bay Yacht Racing Associationpresents:"Dave Perry & the New Racing Rules of Sailing"Friday, June 19at Ocean County CollegeCollege Drive & Hooper Ave., Toms River, New JerseyTwo Seminars:Seminar OneCustomized for Junior Sailing Instructors9:00 a.m.-3:30 p.m.Free Admission!   Seminar TwoOpen to All7:30 p.m.-10:00 p.m.Free Admission!Reservations are required for admission.Contact the Office of Student Life at (732)255-0348 to reserve your seat.Further information (venue location, etc.)is posted at:  http://www.bbyra.org/temp/daveperry.htm    or: http://www.bbyra.org/temp/daveperry.pdf   Rob Robert Rauf Mortgage Banker www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf (732)223-163... 04/27/2009

  The Weather Man was correct, and it is even on the front page of the paper this morning. 82 Degrees Saturday, 86 Degrees Sunday and barely a cloud in the sky.  So turn off the computer and get outside! Lakewood Blue Claws play Saturday, and there is a boating and fishing expo prior to the game Weakfish are biting at the Mantaloking Bridge, From what I hear, the evening is the best time. Less than a month left for Summer Flounder, keep in mind they have to be 12 inches to keep. It may be worth a shot to try for some crabs. The water may be a little cold yet, but it would be a great excuse to get out on a boat, or hand out outside with the kids. Take a hike, Spring is in full bloom and everything is budding. Cabin Fever got you down? Then get out and enjoy the day! Have a great weekend!... 04/25/2009

Interesting observation:Out of the 35 CLOSINGS in March, 14 were in the $200,000 to $300,000 price range. Out of those 14, ONLY 1 was a "Short Sale"!What does that mean?It is my professional opinion that we are in the "trough" between "waves" of foreclosures. The CLOSINGS in March were the result of CONTRACTS signed in December and January. With the new, Obama Administration, the "freeze" on foreclosures, "loan modifications" and "Housing Recovery Legislation", we are experiencing a "stall" or "delay" in DISTRESSED SALES.I applaud the optimism of the current administration but, when over half of the previous "loan modifications" resulted in default within 6 months, I have a difficult time believing, "things will be different this time around.""Time will tell", as they say. We shall see ... 04/17/2009

Details for Saturday's FlowerFest at Toms River library Ocean County Library's FlowerFest starts this Saturday at 11 a.m. at the Toms River branch, 101 Washington Street. The annual festival features Mike McGrath, author and host of the weekly Public Radio program "You Bet Your Garden," at noon and 2 p.m.  The radio program reaches an average of 50,000 listeners in Pennsylvania, New Jersey and Delaware on WHYY-FM.  He will sign copies of his book between his presentations. Several local experts will present programs during the festival. Demonstrations by the Garden Club of Toms River on arranging floral miniatures and preserving flowers will begin at 11 a.m. Lisa Stubenrauch will offer tips on photographing plants and flowers at noon. Tina Bulwin will demonstrate how to create fruit and... 04/17/2009

It must be spring! (although the Frost on my lawn this morning seems to contradict that just a little!) Ocean County Master Gardeners Annual Plant Sale Where: Ocean County Agriculture Department (Rutgers Cooperative Extension) 1623 Whitesville Road Toms River, NJ When: May 2, 2009 from 9am - 2pm (Rain or Shine) What: Plants of course! Perennials, Veggies, Roses Annuals Hanging baskets ETC.... Be sure to Bring a wagon or cart to carry your "stuff" Snacks and Lunch will be available from the 4H club INFO: (732) 349-1245 It must be time to get that garden ready! Have a GREAT weekend! Rob Robert Rauf Mortgage Banker www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf (732)223-1630 x102 Since 1987 I have been helping my clients fulfill their dream of home ownership! R... 04/17/2009

 This weeks Market Movers: Where will Interest rates be? Sorry I am late, Monday was the day of one meeting after another going over guidelines for Fannie Mae's new DU Refi Plus program. Yes we can help some people that have lost equity over the past few years, but it is not the "magic fix" the world was looking for.  But that is fodder for yet another blog..... This is a fairly busy week of info being released both on the producer side and the consumer side. The market will be looking pretty closely at some of these , but I still anticipate that the ups and downs of the stock market are much more apt to control rates than any of the data that will be released this week. Monday: it was a no News day, so my being late with this wasn't all that bad!  over all Monday was a pretty good day ... 04/14/2009

   Beware of Foreclosure Scams. I was chatting with a few attorneys, mortgage guys and a Fraud investigator this morning and we have all noticed some scams floating around. One big issue is the news and the predators it creates. Most lenders do not have the home affordable guidelines in place. I spoke with 4 loan Officers from different companies today and none of them have the details yet for how Uncle Sam's plan will be implemented, but we all feel we should have details with in a week or two. In the mean time BE CAREFUL!  It is strongly advised that you only speak with some one that is referred to you that actually knows what can and can not be done. Please read the following carefully and pass it along to anyone you know. There are many "Foreclosure Rescue" scams beginning to surfac... 04/07/2009

Monthly Real Estate Market Report for Toms River, NJ - March 2009 March by the numbers: •·        35  The number of Single Family Homes CLOSED during the month  •·        $372,063  Average LIST price for March*  •·        $348,028  Average SALES price for the month*  •·        116  Average DAYS ON the MARKET for March  •·        93.54%  The SALES price to LIST price RATIO for the month  •·        722  Number of Single Family Homes ACTIVE on the market in March  •·        20.62  Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!  *These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.    March,  2009, saw 35 Single Family Homes CLOSE in ... 04/06/2009

Ocean County Library to host video game events   The Toms River Branch of The  Ocean County Library will host an all-day video game event, including three video game tournaments, beginning at 10 a.m. Saturday April 25 in the Toms River branch (101 Washington Street.) Children between the ages of 8 and 12 will compete in a Super Mario Kart tournament at 10 a.m.  Teens between 12 and 18 will compete in Super Smash Brothers Brawl at 10:30 a.m.  And a Battle of the Rock Bands for all ages will start at 3 p.m. Prizes will be awarded to the winners. Michael Highland, creator of the film "As Real as Your Life," and Michele Matt, a freelance game creator who has worked on Rock Band, will be speak at the event.  Ocean County Vocational Technical School's computer science students will showcase t... 04/06/2009

   Hopping down the bunny trail.... Hi-pity hopity....   Toms River Township is holding its first Easter show this weekend. The target audience is for Preschool through 5th grade. Who: The Easter Bunny !  When: Saturday April 4, 2009 10:00am Where: Toms River High School South, in the Auditorium What: A magic Show from 10:15-11am Followed by.... The Main EVENT: The Easter Bunny will visit for Family Photos, BYOC  (That's bring your own Camera!) This should be a fun event for your entire family. Get your picture taken with the Easter bunny and walk down town for lunch with the kids!   Have a wonderful week! Rob Robert Rauf Mortgage Banker www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf (732)223-1630 x102 Since 1987 I have been helping my clients fulfill their ... 03/31/2009

  More Information on the Tax Credit for Homeowners and Home Buyers   The government's $787 billion economic stimulus package includes several opportunities for individuals and families to lighten their tax load. Of particular interest are the tax savings specifically geared for homebuyers and homeowners. The new tax laws have specific limitations, so people need to pay close attention. Of course, all tax-related actions and decisions should be reviewed by a professional tax advisor. So the following is meant to simply get the conversation started. $8,000 tax credit for first-time home buyers. A first-time homebuyer is anyone who has not owned a home in the last three years. To qualify for the full $8,000 tax credit, couples filing jointly must earn less than $150,000 in adjusted gross ... 03/25/2009

   OCEAN COUNTY LIBRARY is having its 3rd annual Film Festival! This week: March 27 & 28 in Mancini Hall, Toms River branch     CONTACT:  Larry Meegan, 732-349-6200, ext. 5906                        lmeegan@theoceancountylibrary.org   Library FilmFest selections are announced    TOMS RIVER -   Volunteers have viewed 50 films and selected 26 for viewing during the third annual Ocean County Library Student Film Festival Friday, March 27 and Saturday, March 28.  The films will be screened in the Toms River branch, 101 Washington Street. The screenings begin both evenings at 6 p.m.  Seven films submitted by students over 18 will be viewed on Friday.  Nineteen films submitted by high school teens will be screened Saturday. Guest speakers will also discuss the movie making process during the ... 03/25/2009

     Ocean County Library is hosting the Second Annual Flowerfest!   TOMS RIVER -   Ocean County Library will present its second annual "FlowerFest: How does your Garden Grow" Saturday April 18 at the Toms River branch. This is the only gardening festival in Ocean County.  It will run from 11 a.m. until 3 p.m. What: 2nd annual Flowerfest When: 11 a.m. Saturday April 18 Where: Toms River branch CONTACT:   Larry Meegan, 732-349-6200, ext. 5906   lmeegan@theoceancountylibrary.org Special guest speakers include author and syndicated National Public Radio show host Mike McGrath.  His show, "You Bet Your Garden" airs locally Saturday mornings at 11 a.m. on WHYY-FM (90.9) and reaches an average 50,000 listeners in the Pennsylvania, New Jersey and Delaware area each week.  It also airs on Siriu... 03/20/2009

  GREAT NEWS! While the National Foreclosure rate is up in February, New Jersey's Foreclosure rate had one of the biggest improvements in February.  Last month there were 654 Foreclosures in the entire state. That is DOWN 34% from January. The figures, from RealtyTrac, were reported on Wednesday of this week.  It is nice to see some improvement even in a weak economy. NJ numbers have been better than the national averages as far back as I can remember, this added piece of good news makes that even better.  We can not always believe the gloom and doom headlines we see in our papers or on TV. Articles like this are often buried as small one liners deep in the newspaper and often go unnoticed.   have a great week! Rob Robert Rauf Mortgage Banker www.RobertRaufHomeLoans.com   or my blog: ht... 03/13/2009

 Ocean County Library Presents...  Everytime I get an opportunity to see the schedule at the Toms River Branch of the Ocean County Library I am surprised at the amount of "stuff" there is available there. It is such an eclectic mix of entertainment along with educational opportunities available. The most recent one to catch my eye for this week: Two founding members of the 80's group "the dB's" will be playing at the Toms River Branch of the Ocean County Library. When: Thursday March 12, 7pm Where: Ocean County Library 101 Washington St Toms River INFO: Call the Library: (732) 349-6200 The show will open with Don Dixon, and then the dB guys ( Peter Holsapple and Chris Stamey) will play. The two hail from NC and have been in many bands: Rittenhouse Square, Sneakers, The H Bombs, The Cont... 03/10/2009

Ready to apply for your Mortgage? Here is some information you need to know. My clients always ask: Whats up for this weeks in Rates? There are so many factors that can move the markets, and most recently the markets have been moving each other. Every month we have new data release on a regular basis that can cause the markets happiness or Pain. If you are ready to apply for your mortgage, this is what will potentially move the markets for the week of March 9, 2009. Here is the calendar: Monday March 9: No data to worry about  Tuesday, March 10: January Wholesale Inventories expected -1.8%. since we are in March already a January number is not likely to be anything exciting. Tuesday: Mortgages roll to April Delivery.  This happens every month. Usually I don't even mention it. But it's a... 03/09/2009