Weekly Economic Releases

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!

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Weekly Economic Releases

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!

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!

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Weekly Economic Releases

The Week Ahead for Mortgage Rates: November 7, 2011

November 7, 2011 by · Leave a Comment 

Anchorman The Legend of Ron BurgundyChicago city officials have proclaimed that today is “Bill Kurtis Day“. The CBS 2 anchor is a legend not only in the 10 O’Clock News format, but also as a producer of documentaries. Will the financial meltdown and real estate crisis since 2008 be his next award-winning documentary? Only time will tell.

This week has little economic data. Nonetheless, Treasury will sell $72 Billion in notes and bonds in its quarterly refunding on Tuesday through Thursday.

The mess in Europe continues to be the dominant influence on US markets. Over the weekend Greece politicians agreed to form a new government with Papandreou stepping down. Even with a new government, Greece will still be required to accept very serious cuts in spending that will impact more jobs and higher taxes in order to get more money from the European Union, International Monetary Fund, European Financial Stability Facility, and European Central Bank.

Next up in the euro contagion is Italy. Berlusconi’s majority is unraveling before a key parliamentary vote tomorrow on the 2010 budget report after contagion from Europe’s sovereign debt crisis pushed the country’s borrowing costs to euro-era records. Debt problems in Europe will not go away for a very long time, if ever without defaults.

About the only economic release this week that will get attention is Thursday’s weekly jobless claims currently expected to be up 3,000 to 400K. Weekly jobless claims in the past six weeks have been hovering at 400K to 412K.

Safety movement into US treasuries is keeping US rates from increasing while there is increasing conviction that the economy is improving. If and when Bill Kurtis does a documentary on the worse financial meltdown and real estate crisis since the Great Depression, may we look back in awe as how we collectively recovered.

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

Key Economic Reports for Week of November 7th by James Barath

This is The Week Ahead for Mortgage Rates: November 7, 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!

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Weekly Economic Releases

The Week Ahead for Mortgage Rates: October 31, 2011

October 31, 2011 by · Leave a Comment 

Frankenstein monster halloween card by pepmax | iStockphoto.comIf 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.

Key Economic Reports for Week of October 31st by James Barath

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, 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!

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Weekly Economic Releases

The Week Ahead for Mortgage Rates: October 24, 2011

October 24, 2011 by · Leave a Comment 

Sinking Home by Kial | iStockphoto.comIn 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.

Key Economic Reports for Week of October 24th by James Barath

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, 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!

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Weekly Economic Releases

The Week Ahead for Mortgage Rates: October 17, 2011

October 17, 2011 by · Leave a Comment 

Occupy Wall Street Chicago Tribune by James BarathWhat 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.

Key Economic Reports for Week of October 17th by James Barath

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, 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!

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Weekly Economic Releases

The Week Ahead for Mortgage Rates: October 10, 2011

October 10, 2011 by · 1 Comment 

debt EU by pagadesign | iStockphoto.comOn 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:

Key Economic Reports for Week of October 10th by James Barath

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, 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!

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Weekly Economic Releases

The Week Ahead for Mortgage Rates: October 3, 2011

October 3, 2011 by · 1 Comment 

The Complete Greek Tragedies, Volume 2 SophoclesWhen 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:

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

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!

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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!

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