Thursday's bond market has opened up sharply as it continues yesterday's late rally that came as a result of the Fed FOMC minutes that were released during afternoon trading. The stock markets are mixed with the Dow down 41 points and the Nasdaq up 3 points. The bond market is currently up 33/32, but since mortgage bonds have not rallied nearly as much as Treasury Bonds, the improvement in this morning's mortgage rates is limited to approximately .250 of a discount point.
Yesterday's release of the minutes from the last FOMC meeting did bring us some surprises and led to the selling in stocks and shifting of funds into bonds. The minutes revealed that several Fed members are concerned about deflation (instead of inflation) where prices actually deflate rather than rise. That creates a very favorable environment for bonds and other long-term securities because their future fixed interest payments are worth more down the road. The minutes also showed the Fe d significantly lowered its outlook on economic growth and employment activity, raising more concern that the economy has more room to shrink before stabilizing. This also makes bonds more attractive to investors because slowing economic activity usually means weaker corporate profits that drive stock prices lower.
The Labor Department gave us last week's unemployment figures this morning, saying that new claims for benefits rose from 515,000 to 542,000 when they were expected to drop to 503,000. While this is only a week's worth of claims, it does however further support the theory that the employment sector is still weakening quickly. Another favorable note for bonds.
October's Leading Economic Indicators (LEI) was posted by the Conference Board late this morning, showing a decline of 0.8%.and lowering September's reading by 0.2%. Analysts were expecting to see a 0.6% drop, meaning that they are expecting economic activity to slow over the next th ree to six months at a quicker pace than many had thought.
There is no relevant economic data scheduled for release tomorrow, but I would not be surprised to see more volatility in the markets. Mortgage rates have not improved nearly as much as Treasury bonds have, but I am expecting to see the improvements in rates slowly continue. Accordingly, I am holding the float recommendations for the time being.
If I were considering financing/refinancing a home, I would.... Float if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris.hills@in-visionfinacial.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your next project
The loans on this page are indicative of only a couple of our lenders. For Deals that fall outside the above guidelines please call or email. We have access to other Moneys
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris.hills@in-visionfinacial.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your next project
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The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris.hills@in-visionfinacial.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your next project
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
Thursday's bond market has opened in negative territory, erasing part of yesterday's late rally that came as a result of strong stock losses. The stock markets have opened in negative ground, continuing yesterday's selling. The Dow is currently down 90 points while the Nasdaq has lost 27 points. The bond market is currently down 4/32, but we will still likely see a small improvement in this morning's mortgage rates of approximately .125 of a discount point due to strength in bonds late yesterday.
This morning's first piece of news was the release of September's Goods and Services Trade Balance report. It gave us the size of the U.S. Trade Deficit, showing a $56.5 billion deficit. That was a little smaller than forecasts of $57.0 billion, but this data is not considered to be of high importance to the markets and has had little impact on this morning's trading or mortgage pricing.
The other news released this morning was weekly unemployment figur es from the Labor Department. They reported that new claims for benefits jumped to 516,000 last week, exceeding forecasts of 479,000. The previous week's figures were revised to 484,000, meaning analysts were expecting to see a small decline in claims when we actually saw a sizable jump. While this data is not considered to be of high importance because it tracks only a week's worth of filings, it can influence trading and rates when it varies from forecasts such as today's variance.
There are two reports scheduled for release tomorrow morning with one of them considered to be very important to the markets. October's Retail Sales report is the first and the highly important one because it measures consumer spending. Since consumer spending makes up two-thirds of the U.S. economy, any related data is watched closely. If this report reveals weaker than expected sales, the bond market should thrive and mortgage rates will fall. Current forecasts are calling for a drop in sales of approximately 2.1%.
The second report comes late tomorrow morning when November's preliminary reading of the University of Michigan's Index of Consumer Sentiment will be released. This index measures consumer confidence, which gives us an indication of consumer willingness to spend. It is expected to show a reading of 57.0, down from October's final reading of 57.6.
If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
I subscribe to a service that provides me some sales type stuff. One of the things they give is a quote of the day. I am going to pass that alonge here.
"I have failed over and over again in my life. And that's precisely why I succeed."
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
Hey everyone, I just started using the best Browser on the market. I have been using the new Google Chrome. And i have to say that is the fastest and cleanest browser on the market. There are some sites that don't support it yet, but for what I do most of the time on the Internet it is amazing.
Just though i would pass it on, i hate IE so I thought I would give it a try,
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
After rallying over 160 bps through the middle of the week, rates ended up about .25% better than they began the week. The big news of course came on Friday when the Labor Department reported that 240,000 jobs were lost in October. This negative economic news gave bonds just what they needed to end the week positively for rates. This week like last, will likely be moved on Friday's big news. So how will rates react? Read on to find out.
Last week, as stated the big news came on Friday with the release of the Jobs report. October posted a job loss of 240,000, which was worse than the 200,000 the market was expecting. In addition the unemployment rate jumped to 6.5% up from 6.1%. And if these numbers weren't bad enough, there was a heavy downward revisions to August and September numbers too, which showed an additional 179,000 jobs were lost in those months. If you're keeping tally, so far in 2008, a total of 1.18 million jobs have been lost, with 651,000 job losses coming in just the past three months alone. While this news continued to torment the stock market, it was actually good for rates and allowed rates to improve overall last week.
If the economic conditions continue on their current course many economists now are worried that the Fed might not have the ability to stimulate the economy with continued rate reductions as the Fed Funds Rate now sits at a meager 1%, which doesn't leave a lot of room for further rate cuts.
The week ahead is will get off to a slow start as the market will close early on Monday, and remain closed through Tuesday in observance of Veterans Day. The first real economic news scheduled to be released comes on Thursday, although it will likely be Friday's Retail Sales report that will drive the market this week.
The bottom line: Expect rates to continue to be volatile this week as economic news slows to a trickle
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
One of the greatest reasons for choosing an FHA loan is because the allowed seller contributions are increased from 3% to a whopping 6%! This is usually more then enough to cover all of your closing costs, and this if course means that you will have more available money to furnish your new home for example.
For example if you are about to place a bid on a house valued at $100,000 as the list price. You might be thinking about making an offer for the property in the amount of $94,000 since it is common practice to bid under the list price. But instead of placing that lower bid you might what to accept the list price as is on condition the seller pay 6% of the value toward your closing costs. So no you have covered all your closing costs and the seller is still getting the same amount of money they thought they would be in the first place.
This method also works if you have good reason to believe the property is valued much higher then the sales price. In the case the seller will not accept any amount below $100,000 and you have very good reason to believe the property is valued at $106,000 or more you may be able to add that 6% to the top of the loan giving you a loan in the amount of $106,000 but keep in mind the sales price must now be increase to $106,000 and now include a seller concession of $6,000 and the end result is the same for the seller and you have saved $6,000!
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .
I am dedicated to helping you find the right financial solution for the purchase or refinance of your Home
Christopher Hills, CMPS, SVP Commercial/Home Lending
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