Mortgage News
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Harmony Of The Trends And The Whole Day Explained In One Chart
Posted To: MBS Commentary (A bit long, but another worthwhile closing post to read... with some not-often-phrased-in-such-a-way explanations. I enjoyed writing it at least. Let me know what you think.) You know the "stock lever?" If not, that's the term we use to describe the common occurrence of stock prices and bond prices moving in opposite directions. Doesn't happen all the time, but in a general sense, sure. Last night we talked about both stock and bond markets closing at some pretty long term "on the fence levels" and so it was a reasonable assumption that it was up to retail sales and whatever else Friday could muster to convince stocks to go one way and bonds to go the other. I didn't have the minerals to offer a solid prediction, but simply that it could be a big day either...( read more) 
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Mortgage Rates Higher After Retail Sales Data. Floating into Monday
Posted To: Mortgage Rate Watch While benchmark Treasury yields moved slowly higher throughout the course of the week as our government auctioned debt to raise spending money, mortgage-backed securities managed to maintain a pretty consistent price range. After all was said and done and the auctions were behind us, mortgage rates were left basically unharmed, near the best levels of 2010. There was one more test to pass though: RETAIL SALES DATA. The Commerce Department released Retail Sales data at 8:30 am eastern this morning This report shows the monthly change in the total receipts at retail stores. Since consumer spending accounts for a large majority of GDP, market participants track retail sales to gauge economic growth. Last month’s report posted a 0.5% increase, a notable improvement from December’s disappointing...( read more) 
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Mortgage News -
Newsflash
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Written by Jeff
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Thursday, 11 February 2010 16:49 |
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 How would you like to get an email each day showing you current mortgage rates? My Rate Alert Service does just that - just click to sign up and begin tracking mortgage rates by email.
The service is free & can be cancelled at any time.
Here's a sample: Sample Newsletter |
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Jeff's Blog -
Jeff's Blog
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Written by Jeff
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Tuesday, 26 January 2010 22:08 |
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Existing home sales plunged a record 16.7% in December to an annualized pace of 5.45 million. The large decline followed several months of strong sales gains that were primarily driven by the first time homebuyer tax credit which was originally slated to expire on November 30. The tax credit has since been extended and expanded but not before impacting sales immediately afterward in December. Despite the sharp decline in December, total sales are still 15.0% above their year ago level.
Our existing home sales report is here SALES SWOON, INVENTORIES DROP, PRICES RISE
For all of 2009, sales increased over 5% from 2008, their first annual gain since 2005. Home prices increased over the last year with median prices up 1.5% to $178,300 and average prices gaining 3.6% to $225,400. |
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Jeff's Blog -
Jeff's Blog
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Written by Jeff
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Monday, 25 January 2010 07:20 |
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Our report on December Housing Starts is posted - Declining Again.
New residential construction starts declined 4.0% in December to an annual rate of 557k after an upwardly revised gain of 10.7% in November to a rate of 580k. November’s rebound proved short-lived as homebuilders continued to cut back on new starts amid a spotty economic recovery and a large number of distressed properties moving through the market. In a reversal of recent trend, it was a decline in single-family starts that led overall starts lower. Single-family housing starts dropped 6.9% last month to an annual rate of 456k, which is 5.5% higher than single family starts this time last year but still a stunning 73.6% below their January 2006 peak.
Here is the Census Bureau report on housing Permits, Starts and Completions.
Here is the take from Calculated Risk: Housing Starts Decline in December. |
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Jeff's Blog -
Jeff's Blog
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Written by Jeff
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Sunday, 10 January 2010 16:11 |
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I've finally updated the website with January's Newsletters. The links are shown below: Feel free to print or download the newsletters and share them with clients and/or friends. My complete database of newsletters for the past 3 years is available - just click on the Newsletters tab above.
January Real Estate Trends - Current real estate and financial news
January Real Estate Page - Extended & Expanded Tax Credit - Full Q&A on the newly expanded and extended Homebuyer Tax Credit.
January Sales Update - Marketing the Tax Credit - For Real Estate Professionals an overview of marketing the Tax Credit |
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