Key Economic Reports
The Week Ahead for Mortgage Rates: October 31, 2011
October 31, 2011 by James K Barath, CMPS® · Leave a Comment
If you’re a fan of Halloween and enjoy the thrill of being scared out of your wits, the month of October had plenty to offer. Despite the S&P 500 having a stellar month there was much to fear domestically and internationally throughout the month.
Two events will dominate the headlines this week and I’m not referring to Halloween nor Greece.
Following the 2 day FOMC meeting on Wednesday, Ben Bernanke will hold a press conference. It will be important to hear what he has to say since the last FOMC meeting on September 21st when the Fed announced Operation Twist. If you recall, Operation Twist was intended to keep long term mortgage rates low in an effort to help the housing market.
Operation Twist worked for one day. Unfortunately, mortgage rates and interest rates have increased since the last FOMC meeting.
The other significant report this week will be the Employment Report on Friday. October employment is expected to show positive gains, but not as strong as September. At this point, all eyes are on the unemployment rate of 9.1% which has not fluctuated this year. It appears that the only thing that politicians are scared of is losing their job and not the state of the economy.
Although it’s the season to be frightful, staying calm and collected will get you through the home loan process. Otherwise, you just might be zombified from the gluttony of paperwork.
The economic calendar this week has the following key economic and financial reports.
This is The Week Ahead for Mortgage Rates: October 31, 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: October 24, 2011
October 24, 2011 by James K Barath, CMPS® · Leave a Comment
In another attempt to help homeowners who are underwater on their principle residence, the Federal Housing Finance Agency (FHFA) announced this morning that it is making revisions to the Home Affordable Refinance Program (HARP) to encourage more lenders to participate.
Leak of the announcement over the weekend had many real estate analysts pondering what this new initiative would entail. With the press release, “US Regulator Unveils Help for Underwater Homeowners” we are starting to learn the details. Thus far, this is just an expansion of the existing HARP loan with a huge emphasis on enticing lenders to move forward.
In regards to other economic news the headline remains the same. Will the European officials actually come up with a plan the takes Greece and the other back from the edge of the cliff? We believe they will have something but we also believe whatever comes from the meeting now scheduled for Wednesday will be just a bandage that will not end the crisis facing Europe’s banks and the countries in the region hanging by their finger nails.
On top of the uncertainty over Europe and the volatility it has generated in US equity markets; Treasury will auction collectively $99 Billion of notes on Tuesday, Wednesday and Thursday. Recent auctions have been a little disappointing with demand not as strong as it had been for months when Treasury borrowed. The bond and mortgage markets will likely stay within a narrow range as has been the pattern for the last two weeks.
The economic calendar this week has the following key economic and financial reports.
This is The Week Ahead for Mortgage Rates: October 24, 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: October 17, 2011
October 17, 2011 by James K Barath, CMPS® · Leave a Comment
What started as a protest on New York’s Time Square, the Occupy Wall Street movement has now spread globally. Today marks one month that the 99% have risen in protest against the 1%.
Speaking of Wall Street, there has been a renewed view the US economy is better than previously thought or estimated. The proof is in the fact that the Dow Jones Industrial Average has now recovered all losses for 2011.
Conversely, mortgage bonds and mortgage rates are taking a beating on the heals of revised outlook that the US economy is improving. There is also a rising belief that the Europe debt problem will be contained. Expect continued volatility on Wall Street as well as the mortgage bond market until a final resolution is made in Europe.
The economic calendar this week has the following key economic and financial reports.
This is The Week Ahead for Mortgage Rates: October 17, 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: October 10, 2011
October 10, 2011 by James K Barath, CMPS® · 1 Comment
On the heals of better than expected employment report this past Friday, it appears that France and Germany will step up to re-capitalize Europe’s bank to hold off a Greece default. This is good news for equities but will result in higher interest rates when the US markets return to action on Tuesday.
Another round of Treasury auctions will occur this week. $32 Billion of 3 year notes on Tuesday, $21 Billion on 10 year notes on Wednesday and $13 Billion of 30 year bonds on Thursday. If Europe continues to show signs of stabilization on their debt issues, demand for US Treasuries will diminish which would increase interest rates for not only home buyers but also anyone who holds a credit card.
On a technical note, the bond market has broken several critical support levels this past week. Our neutral position on mortgage rates has now shifted to a negative stance as improvement in Europe will only add fuel to the rising rates chatter.
It should be mentioned that the US markets are still highly volatile and the direction of Europe is the biggest factor right now. Stay tuned as the direction of the mortgage bond market and US equities could change in a heart beat.
The economic calendar this week has the following key economic and financial reports:
This is The Week Ahead for Mortgage Rates: October 10, 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: October 3, 2011
October 3, 2011 by James K Barath, CMPS® · 1 Comment
When you think of Greek tragedies, you might think of Oedipus the King, Agamemnon or even Helen. Not too many would thing of the present day Greece economy as a tragedy; however, it is on the verge of becoming just that as it gets closer to financial default.
Technically, Greece has no way of honoring it’s debt payments and therefore is reliant on the aid from the other members of the European Union to sustain an economy that could have negative impact globally. Greece’s next round of funds will come on October 13th. The only question is can they survive until then.
Speaking of Greek tragedies, the US employment market has become just that over the past several months. During the normal cyclical season of high job growth, there has been a sparse number of sustainable private sector jobs.
As-is every month, the most significant economic report is the employment report that will be released this Friday. Many fear that the estimates of 60,000 non-farm jobs and 83,000 non-farm private jobs for September is just a Trojan Horse in disguise.
Even if the employment estimates are true, the marginal job growth suggests that the economy is tilting towards another recession. Mortgage rates as of recent have been volatile on a daily basis thanks to the volatility in the equity markets and Greece. The jobs report might just add fuel to the fire.
The economic calendar this week has the following key economic and financial reports:
This is The Week Ahead for Mortgage Rates: October 3, 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: September 26, 2011
September 26, 2011 by James K Barath, CMPS® · Leave a Comment
New single-family homes sales declined in August by 2.3 percent. The good news is that the seasonally adjusted annual rate declined less than expected. Even better news is that 2011 year-to-date new single-family homes sales rose 6.1 percent.
The question remains will there be other green sprouts for the stock market to latch on with the barrage of key economic reports to be released later in the week.
Speaking of key economic reports, global markets will be paying close attention to September Consumer Confidence on Tuesday; 2nd quarter final GDP; and August Personal Income and Consumption on Friday. Let’s not forget about the month end Treasury Auctions of 2 year notes, 5 year notes and 7 year notes totalling $99 Billion.
While stock and bond traders review the economic data domestically, Europe still continues to be a harbinger of bad economic news. The inability of the European Union (EU) and the European Central Bank (ECB) to come up with a resolution to the Greece financial crisis has global investors still concerned. It appears that the EU and ECB do not have sufficient enough capital to rescue Greece right now.
If you missed the big news out of the FOMC meeting last week, it’s all about “Operation Twist”. You can read the details about the Federal Reserve Announces New Twist to Stimulate Economy. In layman terms, the FED is about to refinance their short-term debt into longer-term debt to maximize cash flow. This is very similar to what homeowners are doing right now in this historic low home loan rate environment.
The economic calendar this week has the following key economic and financial reports:
This is The Week Ahead for Mortgage Rates: September 26, 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: September 19, 2011
September 19, 2011 by James K Barath, CMPS® · Leave a Comment
With the fall season making it’s presence known, seeking green sprouts in the economy and the real estate industry is becoming more difficult. This week has plenty of opportunities to showcase a new glimmer of hope with several key economic reports and the FOMC Meeting on Wednesday.
Although home loan rates did increase last week, this week could be a market mover as all eyes will be on the FOMC Announcement and exactly how Bernanke will implement a potential new initiative to stimulate the economy. Based on the failure of Quantitative Easing and Quantitative Easing 2 to stimulate the economy there is a lack of overall confidence on what can really be done by the FED.
Homeowners and home buyers will want to pay close attention to both the August Housing Starts and Single Family Permits released on Tuesday, as well as the August Existing Homes Sales on Wednesday and the FHFA Home Prices on Thursday.
Although much attention will be given to domestic news this week, we must remember to listen to the financial negotiations between the European Union and the International Monetary Fund on the economic viability of Greece.
The economic calendar this week has the following key economic and financial reports:
This is The Week Ahead for Mortgage Rates: September 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: September 12, 2011
September 12, 2011 by James K Barath, CMPS® · Leave a Comment
No matter what you were doing yesterday, there is no doubt that the 10-year anniversary of 9/11 was a part of the conversation. Every newspaper, news coverage, tv station and sporting events paid tribute to the many heros and lives lost.
The National September 11 Memorial & Museum | World Trade Center Memorial is officially open to the public as of today. Let this Memorial forever remind us of the greatness that binds this country and our people.
With that being said, the debt crisis in Europe continues to impact US markets as Greece looks for a second infusion of cash to avoid default. Just like individual borrowers, the country of Greece has to decide if it can meet it’s new financial obligations or if it would be better to default and start over.
Just the rumblings of Greece defaulting is already weighing negatively on European banks. Ultimately, this will affect the US markets. Expect continued volalitility this week as investors seek a safe place to park their money while trying to figure out what will come of the continued sovereign debt issues in Europe.
In domestic news, both the 10 year note and mortgage bonds will start the week at 60 year historic lows. All eyes are waiting to see when and how investors will embrace Obama’s new job plan. If the stock market reaction since his speech is any indication…investors do not like it.
Much of the key economic reports will be toward the end of the week. In the meantime, US Treasury will auction off another $66 billion of notes and bonds Monday through Wednesday. If you are looking to close your purchase home loan this week, you would be best advised to keep your mortgage professional on speed dial this week.
The economic calendar this week has the following key economic and financial reports:
This is The Week Ahead for Mortgage Rates: September 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, qualified liability advisor 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!
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Key Economic Reports
The Week Ahead for Mortgage Rates: September 6, 2011
September 6, 2011 by James K Barath, CMPS® · Leave a Comment
There is no other tradition that signifies Labor Day weekend than the MDA Labor Day Telethon. For the first time since it’s inception in 1966, Jerry Lewis was not apart of the telethon and the show was trimmed from it’s standard 21-1/2 hours down to 6 hours.
Some would argue that the MDA Labor Day Telethon wouldn’t be the same without the long time tv personality and more importantly wouldn’t have enough air time to raise money. Even without Jerry Lewis and the extended hours, the Muscular Dystrophy Association raised $61.5 million over the weekend.
What does the telethon have to do with mortgage rates you ask?
The outcome of the telethon is a great example of how the underlying fundamentals of good will and a great cause always prevail even under the duress of the financial woes of today’s economy. Likewise, mortgage rates are still at historic lows and the affordability of homeownership makes more sense now even in a down economy.
With a shortened week on Wall Street due to Labor Day, much of the attention will be given to foreign equity markets and the forthcoming speech by President Obama to a joint session of Congress about jobs. All ears domestically and internationally will be listening to hear what the big plan is to create jobs right now. Just as with the telethon this past weekend, keep your fingers crossed and HOPE the outcome exceeds everyones expectations.
The economic calendar this week has the following key economic and financial reports:
This is The Week Ahead for Mortgage Rates: September 6, 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, qualified liability advisor 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!
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