Key Economic Reports

The Week Ahead for Mortgage Rates: January 3, 2012

January 3, 2012 by · 1 Comment 

Jobs Report Due FridayMortgage markets improved last week during a holiday-shortened trading week. The mortgage bond markets were closed Monday for Christmas, and closed early Friday afternoon. Trading volume was light all week long, which contributed to a year-end rally.

Mortgage bonds made their largest one-week gain in two months as conforming mortgage rates in Illinois, Indiana and nationwide fell to new lows.

Because most of the improvements transpired Wednesday and Thursday, Freddie Mac’s weekly mortgage rate survey failed to capture the action. The survey’s poll of more than 125 banks across the country “closes” Tuesday.

As a result, Freddie Mac reported mortgage rates rising to 3.95% with an accompanying 0.7 discount points plus closing costs, where 1 discount point equals one percent of your borrowed amount. However, those rates represented the high point for the week.

By Friday, conforming loans “with points” were noticeably lower as compared to Freddie Mac’s weekly survey. Loans without discount points were little changed, however. 

The same was true for FHA mortgages.

This week, though, the calendar reads 2012. Unfortunately, we’re still watching the stories that drove mortgage rates for much of 2011 — the Eurozone and its members’ debt obligations, and the U.S. jobs market.

As the year concluded, there were fresh fears of trouble in Italy, which has large amounts of debt due in the early part of the year. There were also stern warnings from Eurozone leaders that a difficult 2012 may be ahead. 

Events like these are often good for U.S. mortgage rates.

And, this week, the government releases its December Non-Farm Payrolls report. The report moves markets — especially when the actual number of jobs created deviates from consensus estimates.

Economists expect that 150,000 net new jobs were created in December.

Momentum may draw rates lower this, or mortgage rates may begin to rise instead. The direction depends on the outlook for 2012, both domestic and international. The safe play is to lock a mortgage rate now.

Rates have more room to rise than to fall.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of January 3rd by James Barath

This is The Week Ahead for Mortgage Rates: January 3, 2012.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: December 27, 2011

December 27, 2011 by · 1 Comment 

Man Gesturing Thumbs Up by -Marie- | iStockphoto.comTis the season for surprises! Once again to the surprise of many, Consumer Confidence Index surged in December to a near post-recession peak. Following a surge in November, Consumer Confidence is sparking new hopes of an economic recovery.

As equity and bond markets were officially closed on Monday, it is anticipated that this entire week will be light in volume as many traders have closed their books and are now enjoying the festivities of the holidays. It should be no surprise that Wall Street opened to the down side this morning.

With very little on the agenda this week, housing took one on the chin this morning as the Case-Shiller Home Price Index showed home prices declined in October. After last weeks positive news in real estate with an increase in November Building Permits and Homes Sales, much of the hype about a sustained housing recovery has been squashed. Pending Homes Sales for November will be of interest as 2011 comes to end this weekend.

Mortgage rates and mortgage bond prices are still trading in a relatively narrow range. The price on the 3.5 FNMA coupon traded in 80 basis point price range this past week due to light volume which created more volatility as there were less traders at their desk. We remain skeptical that US interest rates will decline much from their present levels. The long-term outlook is that mortgage rates will begin to slowly increase from present levels.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of December 27th by James Barath

This is The Week Ahead for Mortgage Rates: December 27, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: December 19, 2011

December 19, 2011 by · 1 Comment 

Partial View of US Treasury IRS Refund Check by NoDerog | iStockphoto.comJust when you thought the economy could move forward, the politicians in Congress want to prolong the debate on extending tax cuts for the general public. If an agreement cannot be made by December 31st nearly 160 million Americans will see their payroll taxes increase by 48%. This ultimately means less take-home pay and slower economic growth in 2012.

Although 2012 is just a couple weeks away there are still plenty of key economic and financial reports to end 2011. This week has a load of housing data that includes November Housing Starts and Permits, November Existing and New Home Sales, and a couple of housing price index reports.

We will also get a final look at 3rd Quarter GDP, November Durable Goods Orders, November Personal Income and Spending and of course Weekly Jobless Claims. Claims declined 19,000 last week to 366,000. This week the early take is for an increase of 14,000.

Most of the key economic and financial reports this week is important, even the sales of homes although there is no reason to expect much improvement.

The Treasury will also auction $99 Billion of 2 year, 5 year and 7 year notes beginning Monday through Wednesday. Add in the holidays coming on and Europe’s continual fumbling, the markets may present volatility with many  traders and investors closing down for the year.

Last week the 10 year note yield fell 25 basis points on continuing safe haven moves against Europe’s mess; mortgage rates are following but way behind, the move to lower interest rates is mostly confined to the Treasury markets.

Mortgage rates and mortgage bond prices are trading an even narrower range. The price on the 3.5 FNMA coupon has held in a 50 basis point price range now for almost a month. We remain skeptical that US interest rates will decline much from their present levels. The long-term outlook is that mortgage rates will begin to slowly increase from present levels.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of December 19th by James Barath

This is The Week Ahead for Mortgage Rates: December 19, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: December 12, 2011

December 17, 2011 by · Leave a Comment 

Due to technical difficulties and a week long break from the daily grind of real estate, the “The Week Ahead for Mortgage Rates” blog post was not published on-time. For your general reference, the economic calendar this past week had the following key economic and financial reports.

Key Economic Reports for Week of December 12th by James Barath

This is The Week Ahead for Mortgage Rates: December 12, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: December 5, 2011

December 5, 2011 by · Leave a Comment 

Euro Currency Symbol by askhamdesign | iStockphoto.comYou know it must be the holiday of giving when French President Nicolas Sarkozy and German Chancellor Angela Merkel agree to work together on anything. In a surprise announcement this morning both Sarkozy and Merkel agreed on a series of reforms to address the sovereign debt crisis plaguing the Eurozone.

Although it appears that the two largest economies in the European Union have come to an agreement to stabilize the Euro, mortgage bonds and equity markets will continue to keep an eye on what happens in Europe with the debt issues.

Markets are optimistic that there will be a real plan of action that emerges to deal with the debts of Spain and Italy but after two years of trying it is a leap of faith to expect anything substantive coming from the meeting.

Not much in the way of key economic readings this week. Monday the November ISM Services Sector Index and weekly jobless claims on Friday are the only serious data points.

Technically and fundamentally the US interest rate markets remain in narrow trading ranges. The 10 year note is still unable to hold under 2.00% but has found support anytime the yield climbs to 2.12% as it did last week.

Mortgage rates and mortgage bond prices are trading an even narrower range. The price on the 3.5 FNMA coupon has held in a 50 basis point price range now for almost a month. We remain skeptical that US interest rates will decline much from their present levels. The long-term outlook is that rates will begin to slowly increase from present levels.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of December 5th by James Barath

This is The Week Ahead for Mortgage Rates: December 5, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: November 28, 2011

November 28, 2011 by · 2 Comments 

Cyber Monday November 28, 2011As everyone recoups from their Thanksgiving feasts, Black Friday shopping extravaganzas, and Small Business Saturday, it is time for Cyber Monday to kick off another action packed week. If you didn’t have the energy or courage to step out this weekend, head on over to CyberMonday.com website to find the best deals online.

Mortgage rates are opening weaker today with stocks rallying on better than expected Holiday shopping on Black Friday and throughout the weekend. We continue to believe that mortgage rates are about at their lows when the 10 year Treasury note moved below 2.00% as it did last week.

Europe continues to play a role in the global bond markets however unless there is an actual default in Greece or Italy, stock and bond markets appear to have discounted the problems in the Euro-zone. Until more negative news unfolds the bond market will be focused more on domestic issues.

This morning New Home Sales report showed sales increased by 1.3% for October but medion new home sales price declined by 0.5%. In other real estate related reports this week, the September Case-Shiller Home Price Index and the September FHFA Home Price Index will be released on Tuesday. Wednesday we will get to hear the September Pending Homes Sales report which should be affecting actual sales in November and December.

This week has a number of other key data points beside the daily report on retail sales this holiday season. Tuesday is November Consumer Confidence. On Wednesday the headlines will be filled with November ADP Employment on non-farm private jobs, November Chicago Purchasing Managers Index and the Fed’s Beige Book. Weekly Jobless Claims and November ISM index will be released on Thursday.

November Employment Report (non-farm jobs +118K, non farm private jobs +133K and the unemployment rate at 9.0% unchanged from Oct) will be released Friday morning. This most important report could set the tone for the rest of the Christmas holiday on whether consumers will remain optimistic or turn into the Grinch.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of November 28th by James Barath

This is The Week Ahead for Mortgage Rates: November 28, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: November 21, 2011

November 21, 2011 by · Leave a Comment 

The Thanksgiving Table by sjlocke | iStockphotoe.comThe Super Committee has failed to reach any compromise on the budget and is driving markets this morning. The mortgage bond markets should hold through the week but unlikely to see any decline in mortgage rates due to a holiday shortened week. The rest of the world doesn’t celebrate Thanksgiving so it business as usual outside of the US.

No compromises on taxes and spending cuts by the Super Committee means that automatic spending cuts will occur totaling $1.2 Trillion and affect some social programs. With 2012 just around the corner, both Democrats and Republicans will most likely sit on their hands as not to cause too much outrage with their voters.

The US Treasury will auction $99 Billion of notes beginning today with $35 Billion in 2 Year Notes.$35 Billion of 5 Year Notes will be auctioned on Tuesday and $29 Billion of 7 Year Notes will be auctioned on Wednesday. The stability of Europe and their ongoing debt crisis still has would-be investors on the fence about pouring more cash into sovereign debt.

October Existing Home Sales beat expectations and was up 1.4% to 4.97 million homes. Interesting facts from the Existing Home Sales report showed that only 28% of sales were distressed compared to the prior months 30%. With the help of a lower median sales price, the housing inventory declined to an 8 month supply.

Although the US Economy has not recovered as quickly as many would like, we must be thankful that we are not in the same economic and financial crisis as Europe. Happy Thanksgiving!

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of November 21st by James Barath

This is The Week Ahead for Mortgage Rates: November 21, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Key Economic Reports

The Week Ahead for Mortgage Rates: November 14, 2011

November 14, 2011 by · Leave a Comment 

Obamacare One Year Later Happy Anniversary Doctor | PhysiciansNews.comWhat was once the center piece of Barack Obama’s presidential campaign, the controversial health-care overhaul now known as Obama-care is now heading to the Supreme Court today to be challenged. Even though much of the health-care reform is not scheduled to be effective until 2014 there is still much debate on both sides of the challenge on the constitutionality of the law.

Now that the Supreme Court has agreed to rule on the health law, don’t expect a ruling anytime soon. Best case scenario is the the court will make a ruling in the height the 2012 presidential campaign. In the meantime, there are more pressing issues impacting the economy, real estate and mortgage rates.

This week is still all about the financial instability plaguing the European Union. Italy made a positive step last week with Berlusconi agreeing to step down and a new leader in place (Monti), a financial guy, to form a technocratic government (no politicians) to work out a budget that will save the country from defaulting. Italy is so big and carries more debt than the EU and ECB can handle. The bellwether 10 yr US Treasury note still is unable to break below 2.00% with any momentum (2.09% early Monday morning). Mortgage bond prices and mortgage rates are stuck in a very tight range with very little change in mortgage rates for the last couple of weeks.

There are no economic releases today but we have a lot of key data through the rest of the week. Inflation numbers, retail sales, reports on factory usage and output, housing starts and permits, and the key Philly Fed business index will all be on slate later in the week. Economic releases recently have been secondary to the constant and confusing news that seeps out daily from Europe.

This week leads into next week’s short trtading week with Thanksgiving holiday taking 2 days out of play and likely thin volume as investors wind down. The interest rate markets are stumbling at present levels, the longer the 10 yr fails to break 2.00% the more tedious the outlook becomes.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of November 14th by James Barath

This is The Week Ahead for Mortgage Rates: November 14, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

Related Posts Plugin for WordPress, Blogger...

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

More Posts - Website

Follow Me:
TwitterFacebookLinkedInPinterest

Next Page »

WelcomeHomeNWI.com