walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for August 6th, 2010 - 08/06/10 01:57 PM
Cari Anderson's East Bay Mortgage Update for August 6th 2010
Economic News: Yesterday's Jobless Claims report was a bit disappointing. With the week ending July 31st the initial jobless claims rose 19,000 to 479,000. The four week moving average is still below last month's level which is a positive. Today's Employment Report was not taken well by the market and equities are experiencing a broad selloff. On a brighter note the underlying data exposed some good news with a gain in both wages and average weekly hours worked.
Mortgage Markets: The yield on the 10 Year Note is 2.827% due to … (2 comments)
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walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for July 26th, 2010 - 07/26/10 02:17 PM
Cari Anderson's East Bay Mortgage Update for July 26th 2010
Economic News: While we have a busy week ahead for economic reports we just have the New Home Sales numbers for today. There was a rebound from the very soft report for May and the June figures came in at the high range of consensus with an annualized rate of 330,000 units. While the numbers are still soft it was nice to see a rebound from the May numbers. This week the US Treasury will be auctioning $104 Billion of notes on Tuesday, Wednesday and Thursday. The results of these auctions … (2 comments)
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walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for July 21st, 2010 - 07/21/10 01:09 PM
Cari Anderson's East Bay Mortgage Update for July 21st 2010
Economic News: A fairly quiet week for economic reports was led off Monday with the Housing Market Index. This report by the National Association of Home Builders reflects the builder sentiment. The index fell to 14 which is the lowest since April of 2009. Housing Starts were announced yesterday and while the numbers were a bit disappointing there was optimism with the gain in housing permits.
Mortgage Markets: The yield on the 10 Year is currently trading at 2.939%. In addition, the Mortgage Backed Securities are stable and prices are … (2 comments)
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walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for June 28th, 2010 - 06/28/10 07:46 PM
Cari Anderson's East Bay Mortgage Update for June 28th 2010
Economic News: The only news released today was the Personal Income & Outlays report. Personal Income showed a nice gain in May as well as a 1.6% increase in the year over year numbers. Month over month consumer spending rose slightly and showed a 4.6% increase over the same time period last year. One confusing note on the extension of the Home Buyer Tax Credit is that discussions will begin again after the Fourth of July weekend. The only problem is the uncertainty for buyers who are unable to close escrow … (0 comments)
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walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for June 21st, 2010 - 06/21/10 01:29 PM
Cari Anderson's East Bay Mortgage Update for June 21st 2010
Economic News: Not much in the way of any pertinent economic news this morning but will be greeted with more as the week progresses. The Federal Open Market Committee (FOMC) will convene this week and the consensus is that overnight lending rates will remain unchanged.
Mortgage Markets: The bond market is losing a bit of ground this morning with the strength in the equity markets. The yield on the 10 Year Note is 3.245%. In addition, the Mortgage Backed Securities are under a bit of selling pressure early on but are making … (2 comments)
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walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for June 11th, 2010 - 06/11/10 12:40 PM
Cari Anderson's East Bay Mortgage Update for June 11th 2010
Economic News: On Wednesday the Mortgage Bankers Association released figures noting that purchase applications as of June 4th were 35% lower than four weeks ago. There seems to be a bit of softness following the expiration of the tax credits. Thursday's Weekly Jobless Claims came in at the high end of expectations and remained stubbornly above the 450,000 level. The continuing claims numbers were taken as a positive though falling by 255,000 reaching the lowest level since late 2008. This morning's Retail Sales results were a little disappointing with May's numbers … (4 comments)
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walnut creek mortgage: Cari Anderson's East Bay Mortgage Update for May 25th, 2010 - 05/25/10 12:07 PM
East Bay Mortgage Update by Cari Anderson with Diversified Mortgage Group
Economic News: Monday's Existing Home Sales numbers came in at the top end of estimates reflecting the influence of the tax credits. Total housing supply jumped 11.5% to 8.4 months which was a little disappointing and may put pressure on any upward price movement in the next few months. Case-Shiller's Home Price Index numbers were announced this morning and were basically flat for March. Look for a jump in the April numbers since buyers were out in force to secure a contract before the tax credit deadline. Finally, Consumer Confidence … (5 comments)
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walnut creek mortgage: East Bay Mortgage Update for May 3rd, 2010 - 05/03/10 05:02 PM
East Bay Mortgage Update
Economic News: The Personal Income & Outlay figures were encouraging with both improvements in income and acceleration in personal spending. While things are certainly not "white hot" these numbers are showing steady growth. The Institute for Supply Management (ISM) released its numbers this morning and reported its index reached the highest level in 6 years. The forward looking figures were quite strong as well.
Mortgage Markets: The 10 Year Note is hovering around 3.69. Overall April was a good month for mortgage rates. It was only a month ago that everyone was discussing what would happen to … (2 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 26th, 2010 - 04/26/10 02:56 PM
Economic News: The Federal Open Market Committee announcement could give us some activity in the debt markets this week. It is anticipated that the FED will continue their outlook that the economy is slowly improving and inflation is subdued but that challenges remain. This would most likely continue their outlook that rates will remain low for an extended period of time.
Mortgage Markets: The 10 Year Note is yielding a "tick" above 3.80 and rates are a touch better than the levels seen at the end of last week. The Mortgage Backed Securities are doing o.k. but still trading in a … (1 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 21st, 2010 - 04/21/10 11:25 AM
Mid Week Update
Economic News: There is not much in the way of reports until tomorrow and Friday. At that point we will get a read on the inflation trends as well as a look at the health of the labor market. These reports could have a near term impact on interest rates in either direction depending on any surprises outside of consensus.
Mortgage Markets: The 10 Year Note is yielding 3.76 and rates are improving over yesterdays levels. The Mortgage Backed Securities are doing well but still running up against resistance levels. Now is an excellent time to consider locking … (2 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 16th, 2010 - 04/16/10 11:19 AM
End of the Week Update
Economic News: Yesterday Industrial Production figures came in below estimates but if you look deeper into the numbers the manufacturing sector growth remained robust. Jobless Claims came in much higher than expectations but the 4 week moving average is still better than the prior month showing that while hiring is not happening quickly we are most probably bouncing across the bottom of the employment picture. Housing Starts were up greater than anticipated and the Consumer Confidence numbers fell from last month's levels. All in all it was a mixed bag of reports for the week.
… (2 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 14th, 2010 - 04/14/10 12:57 PM
MID WEEK UPDATE
Economic News: Yesterday the International Trade numbers revealed a widening US trade gap suggesting an improvement in domestic demand. Today's Retail Sales figures came in higher than expectations helping the argument that the consumer is "waking up" and will help economic recovery sooner rather than later. Lastly, the Consumer Price Index bolstered the view that, at this point, inflation is not a concern in the near term.
Mortgage Markets: The 10 Year Note is yielding 3.83 and we are seeing welcome stability in the Mortgage Backed Security Market. Since the bond losses of early last week rates have … (2 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 12th, 2010 - 04/12/10 12:51 PM
Beginning of the Week Update
Economic News: Not much on the books for today in the way of reporting. It looks as if the Euro Zone finance ministers have agreed on a 40 Billion Dollar aid package for Greece. This has steadied the debt markets for now. The week will become more exciting as it goes on and the specific reports are listed below.
Mortgage Markets: The 10 Year Note is yielding 3.85 and we are seeing a small rally in the Mortgage Backed Security Market. Since the bond losses of early last week rates have improved modestly over the last … (0 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 9th, 2010 - Cari Anderson, Diversified Mortgage Group - 04/09/10 12:17 PM
End of the Week Updtate
Economic News: It was a fairly uneventful week for data. The Labor Department issued its report yesterday on Jobless Claims and while the headline number was worse than expected the underlying data on the four week moving average, as well as the continuing claims, showed that things are very slowly improving.
Mortgage Markets: The 10 Year Note is yielding 3.89 and has improved since Wednesday mainly due to the success of the US Government debt auctions earlier in the week. The 30 Year Treasury auction did not go too well mainly due to the problems … (2 comments)
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walnut creek mortgage: East Bay Mortgage Update for April 5th - 04/05/10 01:52 PM
Beginning of the Week Update
Economic News: Today's Pending Home Sales number for existing homes was released this morning and the index showed robust rise of 8.2% to 97.6%. That, coupled with some additional strength of the ISM reports, has led the equity markets off to another positive day at the expense of the debt markets. Not much on the calendar for the rest of this week in the way of economic data but the government will be holding several debt auctions which could impact the interest rates in the near term. We are now trading at the highs of the range … (1 comments)
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walnut creek mortgage: East Bay Mortgage Update for March 26th - 03/26/10 09:34 AM
End of the Week Update
Economic News: The Jobless Claims numbers released yesterday were positive and continued the trend of month to month improvement in the payroll numbers. New claims were reported at 442,000 versus the expected 450,000. This morning the 4th Quarter GDP numbers were revised downward from an annual rate of 5.9% to 5.6% which was slightly below forecast. Lastly, the University of Michigan's Consumer Sentiment Index reported numbers slightly stronger than the mid March reporting period.
Mortgage Markets: What a week in the debt trading world. Both the 10 year note and the Mortgage … (4 comments)
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walnut creek mortgage: East Bay Mortgage Update for March 22nd - 03/22/10 01:14 PM
Start of the Week Update
Economic News: Today is a relatively slow day but there is a good deal of data due in this week. In addition, there is $115+ Billion dollars of notes and bonds which will be sold, and depending on the outcome, could have an effect on rates. Keep in mind that the home buyer tax incentives are coming to a close. You need to be in contract by April 30th and complete the transaction by June 30th.
Mortgage Markets: The 10 year note is trading around 3.67 this morning and the Mortgage Backed … (0 comments)
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walnut creek mortgage: East Bay Mortgage Update for March 17th - 03/17/10 09:53 AM
Mid Week Update
Economic News: The big news yesterday was "no new news" via the Federal Open Market Committee (FOMC) announcement. The release stated that the economy is growing, albeit at a sluggish rate, and inflation is muted at this time. This led to a rally in the debt and equity markets and led to better mortgage pricing in the afternoon. The Housing Starts numbers from yesterday came in slightly above estimates but permits were down and builders have to remain cautious with their inventories and new production. The Producer Price Index (PPI) fell more than expected led by a decrease … (2 comments)
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walnut creek mortgage: East Bay Mortgage Update for March 12th - 03/12/10 12:38 PM
End of Week Update
Economic News: The International Trade numbers came in below estimates showing that recent growth trends may be moderating a bit. Thursday's Jobless Claims were reported at the top range of expectations and show that the employment picture is still distressing. Friday's Retail Sales figures came in well above estimates revealing the consumer may be a tad more confident and opening the wallet a little more during the February reporting period. Lastly, the Consumer Sentiment index fell back a bit during the first part of March.
Mortgage Markets: The 10 year note has recovered a bit today. … (0 comments)
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walnut creek mortgage: East Bay Mortgage Update for March 3rd - 03/03/10 01:20 PM
Mid Week Update
Economic News: Monday's release of the Institution for Supply Management (ISM) figures came in strong, albeit a little lower, than last month revealing a small moderation of manufacturing growth. January construction spending fell less than expected and was 9.3% lower than the same period for last year. Tuesday's Motor Vehicle Sales, while down a bit from last month, came in right in line with expectations. Wednesday welcomed us with the much anticipated ADP employment report and predicted a 20,000 decline in February payrolls which was certainly brighter than expected. Layoff announcements fell to the lowest level since 2006.
… (0 comments)
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