Jason M. Keith - Lending in 5280's Blog

Monday Mortgage Review

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Tue, 06 Sep 2011 12:21:59 -0700

Market Comment - Week of September 5th, 2011

Mortgage bond prices rose last week, which pushed mortgage interest rates lower. Rates started off on a bad note the first portion of the week as equities rallied on hopes of additional Fed stimulus spending and stronger than expected data. Factory orders rose 2.4%, considerably higher than the expected 1.9% increase. Stocks took a roller coaster ride surging and falling hundreds of points throughout the week. The payrolls component of the employment report Friday disappointed estimates and helped rates improve significantly on the week. Despite the extreme volatility, mortgage bonds ended the week better by about 1/2 of a discount point.

The bond market is closed Monday for Labor Day. Trading may be volatile Tuesday following the extended holiday weekend. Equities will continue to factor into trading with the light data this week.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Labor Day	Monday, Sept. 5, 2011	None	Important. May result in market volatility Tuesday following the extended holiday weekend.
Fed "Beige Book"	Wednesday, Sept. 7, 2011	None	Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates.
Weekly Jobless Claims	Thursday, Sept. 8, 2011	405k	Important. An indication of employment. Higher claims may result in lower rates.
Trade Data	Thursday, Sept. 8, 2011	$53b	Important. Affects the value of the dollar. A falling deficit may strengthen the dollar and lead to lower rates.
Consumer Credit	Thursday, Sept. 8, 2011	$15.5b	Low importance. A significantly larger than expected increase may lead to lower mortgage interest rates.

Mortgage Professionals

Obtaining a mortgage is often a confusing task that can also lead to frustration. The reason for the confusion is due to the fact that mortgage financing is complex. The good news is that this complexity provides consumers with options and choices best suited to fit their needs.

Everyone's financial position is unique. Some people have large cash reserves that can be used for down payments while others want to get into a home with little or no money down. Credit ratings vary from person to person. In addition, future plans vary. Some people plan on staying in their home for the rest of their lives while others only plan on staying for a few years.

These facts alone make comparing your mortgage to your neighbor's based on rate alone a flawed endeavor, yet many people attempt to do so. Admittedly, everyone wants a good deal. Keep in mind that comparing rates is just one component of the entire mortgage. Other variables include the term, down payment requirements, income qualifications, credit ratings, reserve requirements, current debt, prepaid points, and many more.

A mortgage professional is able to take all of these variables that are unique to each individual and help a person obtain the mortgage loan that works best for their situation. The service they provide is time consuming and complex. However, the rewards of dealing with a professional carry forward throughout a borrower's life. Making wise financial decisions today helps to pave the way for a safe and secure future.

Mortgage interest rates currently remain historically favorable. There is much uncertainty about the future of the economy. If the economy recovers and inflation emerges mortgage interest rates may head higher. Taking advantage of mortgage interest rates at these levels is a sure thing. A cautious approach to lock decisions is necessary to protect against the possibility of a future increase in mortgage interest rates.

Where people come first!

WR Starkey Mortgage, LLP
NMLSR# 2146

6025 S. Quebec Street #110
Centennial, CO 80111


Jason M. Keith Senior Loan Officer
Office: 720.489.0712 e-Fax: 1.866.546.9030 Cell: 303.263.6135 jkeith@wrstarkey.com LoansFromJason.com NMLSR# 288509 LMB100018303

©2011 Design by WR Starkey Mortgage, LLP NMLSR #2146. This is not a guarantee of financing. All borrowers must meet certain underwriting guidelines and credit criteria. Rules and Regulations may apply. Colorado: To check the status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.html If you would like to be removed from receiving these newsletters, Click Here type REMOVE from Mortgage News.

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage Update

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 29 Aug 2011 12:18:58 -0700

Market Comment - Week of August 29th, 2011

Mortgage bond prices fell last week, which pushed mortgage interest rates higher. Rates started off on a bad note Monday as stocks surged higher. This negative movement continued throughout midweek as durable goods orders rose 4%, considerably stronger than the expected 1.9% increase. Stocks took a roller coaster ride and fell a bit Thursday morning, which helped support mortgage rates. Rates rebounded slightly Friday morning as Q2 GDP came in lower than expected. Market participants were looking for indications from Fed Chairman Bernanke late Friday morning that another round of stimulus was on the way but to no avail. Unfortunately mortgage bonds ended the week worse by about 1/2 of a discount point.

The employment report Friday will be the most important event this week.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Personal Income and Outlays	Monday, Aug. 29, 2011	Up 0.1%, Unchanged	Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation	Monday, Aug. 29, 2011	Up 0.1%	Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve.
Consumer Confidence	Tuesday, Aug. 30, 2011	59	Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.
ADP Employment	Wednesday, Aug. 31, 2011	85k	Important. An indication of employment. Weakness may bring lower rates.
Factory Orders	Wednesday, Aug. 31, 2011	Down 0.5%	Important. A measure of manufacturing sector strength. A larger decrease may lead to lower rates.
Weekly Jobless Claims	Thursday, Sept. 1, 2011	405k	Important. An indication of employment. Higher claims may result in lower rates.
Revised Q2 Productivity	Thursday, Sept. 1, 2011	Down 0.1%	Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
ISM Index	Thursday, Sept. 1, 2011	50.5	Important. A measure of manufacturer sentiment. A larger decline may lead to lower mortgage rates.

Weather

The mortgage interest rate markets are subject to an enormous number of factors. Most analysts agree that weather can have an effect on market activity. Although the effects are seldom long lasting, they can be quite significant.

The United States is the world's largest exporter of corn. Relatively rainy weather across the Midwest portions of the United States can delay the planting of corn. This often causes corn prices to escalate. Sometimes corn farmers plant more acres of corn than analysts expect. Larger corn crops can cause prices to fall. Lower corn prices can carry over to lower food prices for some items. The weather also has the potential to directly alter fuel prices. As we enter the hurricane season, many oil and gas fields in the Gulf along with refineries along coasts are susceptible to damage. If this were to occur, oil prices would almost surely rise sharply. Rising oil prices would do little to help keep inflationary fears in check. The result would most likely be higher rates.

Where people come first!

WR Starkey Mortgage, LLP
NMLSR# 2146

6025 S. Quebec Street #110
Centennial, CO 80111


Jason M. Keith Senior Loan Officer
Office: 720.489.0712 e-Fax: 1.866.546.9030 Cell: 303.263.6135 jkeith@wrstarkey.com LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage Comments

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Fri, 26 Aug 2011 15:12:50 -0700

Mortgage Comments

How SLOW can you GO? The number that tells us how fast we are growing came out today. The Gross Domestic Product (GDP) came in at a whopping 1% annualized rate of growth for the US. This is not good. In the past, every time the GDP slips below 2%, the economy has fallen into recession. Clearly we are not just like ‘every time’ this time, but I’d bet the odds. The key is consumer confidence. When the comment of one person, albeit Warren Buffet, can make a stock jump 17% in just one day (Bank of America) you know that people are not reacting to facts but are looking for someone to tell them what is going on. This is a reaction created by fear and uncertainty. Fear and uncertainty are NOT good for the economy. Add to this all the uncertainty of what regulations will finally result from the laws congress has passed (banking, health care, etc.) and, well, you get the picture.

For us in the real estate business, this spells opportunity. The Realtors I talk to have never been busier. Rates are, and will remain, at historic lows. Buying power has never been and most likely will never again be this good. This is an incredible time to buy homes for investment as well. Homes bought to rent can actually cash flow and put monthly income into your investor’s pocket. As Paul Harvey would say, “That’s TRUE value!”

This week Freddie Mac’s 30 yr. fixed rate survey ticked up a bit at 4.22% depending on program, credit and points. Have a great weekend and have your buyers call us so we can get them approved to buy.

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage Update

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 22 Aug 2011 12:51:27 -0700

Market Comment - Week of August 22nd, 2011

Mortgage bond prices finished near unchanged last week but whipsawed up and down throughout the middle of the week. Rates started off on a bad note Monday in reaction to stronger than expected data. Housing starts, industrial production, and capacity use data all surprised to the upside. European debt worries resulted in flight to quality buying Wednesday and rates improved considerably that morning. Unfortunately those gains were erased Thursday afternoon following higher than expected headline consumer inflation data and selling pressure tied to the recent run up in prices. Despite the extreme volatility, mortgage bonds ended the week near unchanged.

Foreign demand for the Treasury auctions will be carefully monitored this week.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
New Home Sales	Tuesday, Aug. 23, 2011	Up 1.9%	Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.
2-year Treasury Note Auction	Tuesday, Aug. 23, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Durable Goods Orders	Wednesday, Aug. 24, 2011	Down 0.8%	Important. An indication of the demand for "big ticket" items. Weakness may lead to lower rates.
5-year Treasury Note Auction	Wednesday, Aug. 24, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Weekly Jobless Claims	Thursday, Aug. 25, 2011	415k	Important. An indication of employment. Higher claims may result in lower rates.
7-year Treasury Note Auction	Thursday, Aug. 25, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Q2 GDP Second Estimate	Friday, Aug. 26, 2011	Up 1.2%	Very important. The aggregate measure of US economic production. Weakness may lead to lower rates.
U of Michigan Consumer Sentiment	Friday, Aug. 26, 2011	54.9	Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.

Durable Goods Orders

Durable goods orders are generally believed to be a precursor of activity in the manufacturing sector because manufacturing must have an order before considering an increase in production. Conversely, a decrease in orders eventually causes production to be scaled back; otherwise the manufacturer accumulates inventories, which must be financed.

Unfortunately, durable goods orders data has many drawbacks. The first problem with the orders data is that they are extremely volatile. The volatility of the data usually is attributed to the civilian aircraft and defense components of the figure. For example, if Boeing has a big order for one of its jumbo jets, the civilian aircraft category can change by $3-4 billion. The same scenario is evident when an aircraft carrier is ordered, surges in the defense category result. The second problem with the data is that orders are continuously being revised. There are many times in the past when the advance report on durables showed an increase while a revision a week later showed a decrease. The revised data is found in the report on manufacturing orders, shipments, and inventories.

Since the data is very volatile and difficult to forecast, there is quite often a huge disparity between the actual release and the initial projections. Be cautious heading into data.

Where people come first!

WR Starkey Mortgage, LLP
NMLSR# 2146

6025 S. Quebec Street #110
Centennial, CO 80111


Jason M. Keith Senior Loan Officer
Office: 720.489.0712 e-Fax: 1.866.546.9030 Cell: 303.263.6135 jkeith@wrstarkey.com LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage News

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 15 Aug 2011 15:08:30 -0700

Market Comment - Week of August 15th, 2011

Mortgage bond prices rose last week, which pushed mortgage interest rates lower. Rates started off on a bad note Monday in reaction to the US debt rating downgrade, the first in history. Stocks took a roller coaster ride surging and falling hundreds of points throughout the week. The Fed kept rates unchanged and indicated the intent to keep rates low through mid 2013. Mortgage bonds pushed higher in reaction to post some solid gains Tuesday afternoon and Wednesday morning. Unfortunately some of those gains were erased Thursday afternoon following weak foreign demand for the 30Y Treasury bond auction. Despite the extreme volatility, mortgage bonds ended the week better by about 7/8 of a discount point.

The inflation reports will be the most important events this week.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Housing Starts	Tuesday, Aug. 16, 2011	Down 8.2%	Important. A measure of housing sector strength. Larger than expected decreases may lead to lower rates.
Industrial Production	Tuesday, Aug. 16, 2011	Up 0.3%	Important. A measure of manufacturing sector strength. A lower than expected increase may lead to lower rates.
Capacity Utilization	Tuesday, Aug. 16, 2011	76.9%	Important. A figure above 85% is viewed as inflationary. A decrease may lead to lower rates.
Producer Price Index	Wednesday, Aug. 17, 2011	Unchanged, Core up 0.2%	Important. An indication of inflationary pressures at the producer level. Decreases may lead to lower rates.
Weekly Jobless Claims	Thursday, Aug. 18, 2011	400k	Important. An indication of employment. Higher claims may result in lower rates.
Consumer Price Index	Friday, Aug.19, 2011	Up 0.1%, Core up 0.2%	Important. A measure of inflation at the consumer level. Lower figures may lead to lower rates.
Existing Home Sales	Friday, Aug.19, 2011	4.78m	Low importance. An indication of mortgage credit demand. A significant decrease may lead to lower rates.
Philadelphia Fed Survey	Friday, Aug.19, 2011	None	Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates.

Industrial Production

The Federal Reserve releases the Industrial Production report each month. It is a real measure of output from manufacturing, mining, electric, and gas utilities. The data is significant in that it provides an indicator of the state of the economy. Analysts use the data to attempt to determine market direction. The Fed uses the data to help set the course for monetary policy. Generally the Fed likes to see steady growth in the economy with little price pressures.

Mortgage interest rates generally react favorably to weaker than expected industrial production data. In times of economic weakness investors often move out of stocks and into mortgage bonds. When things look good investors often move out of bonds and back into stocks. We have seen these patterns frequently in recent months.

Floating into significant economic data always has some risk involved. Now is a great time to take advantage of mortgage interest rates at these historically low levels.

Where people come first!

WR Starkey Mortgage, LLP
NMLSR# 2146

6025 S. Quebec Street #110
Centennial, CO 80111


Jason M. Keith Senior Loan Officer
Office: 720.489.0712 e-Fax: 1.866.546.9030 Cell: 303.263.6135 jkeith@wrstarkey.com LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Active Rainers! Donna Foerster needs your prayers!

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Thu, 04 Aug 2011 15:55:29 -0700

Donna and Rich are dear friends of mine, please keep them in your prayers!

Please post comments on the original post. Thank you so much.

Via Ruth@WRStarkey.com: Pre-apprvls, 1st Time, Move Up Buyers:

Many of you have seen Donna's picture, read her blog, and even been regular commenters on her posts. Her husband, Rich, told me today there have been many emails sent to Donna from her friends at AR asking where she was and was she okay because she hasn't been blogging. So, with his permission, I'm writing a brief post to let you know how concerned we are all about her health right now. And to ask for your prayers.

Donna wasn't feeling well early last week, she thought she might have eaten something that caused food poisoning. Just a little over a day and a half later, she needed to be rushed to the hospital, had undergone two surgeries, and as of today, a week ago now, she still has not regained consciousness long enough for the doctors to feel it's safe to remove her air tube. Her white blood cell count today was so elevated that it is obvious the removal of approximately 75% of her small intestine did not rid her body of all the infection. The last I heard the doctors were weighing the pros and cons of yet another surgery.

Please take a moment to mention Donna in your prayers if you would.

Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Starkey Mortgage.

Ruth Vogt, Branch Manager

Colorado #LMB100023827, NMLSR# 257576

   www.MyLenderOfChoice.com

   rvogt@wrstarkey.com



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Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage News

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 01 Aug 2011 13:25:36 -0700

Market Comment - Week of August 1st, 2011

Mortgage bond prices rose last week, which pushed mortgage interest rates lower. Rates started off on a bad note Monday as the lack of a debt deal between Congress and the President dominated the headlines. The Treasury auctions generally saw weak foreign demand which also didn't help rates. Stocks struggled throughout the week. Fortunately mortgage bonds rallied heavily Friday morning as the Advance Q2 GDP figure disappointed with only a 1.3% increase. Analysts looked for GDP to rise 1.8%. Mortgage bonds ended the week better by about 3/4 of a discount point.

The employment report Friday will be the most important data this week. Any developments raising the US debt ceiling will likely result in market volatility.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
ISM Index	Monday, Aug. 1, 2011	52.0	Important. A measure of manufacturer sentiment. Weakness may lead to lower mortgage rates.
Construction Spending	Monday, Aug. 1, 2011	Up 0.1%	Low importance. An indication of economic strength. Significant weakness may lead to lower rates.
Personal Income and Outlays	Tuesday, Aug. 2, 2011	Unchanged, Up 0.1%	Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation	Tuesday, Aug. 2, 2011	Up 0.2%	Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve.
ADP Employment	Wednesday, Aug. 3, 2011	80k	Important. An indication of employment. Weakness may bring lower rates.
Factory Orders	Wednesday, Aug. 3, 2011	Down 1.5%	Important. A measure of manufacturing sector strength. A larger decrease may lead to lower rates.
Weekly Jobless Claims	Thursday, Aug. 4, 2011	395k	Important. An indication of employment. Higher claims may result in lower rates.
Employment	Friday, Aug. 5, 2011	9.2%, Payrolls +85k	Very important. An increase in unemployment or weakness in payrolls may bring lower rates.

Employment

The employment report provides an abundance of information for almost every sector of the economy. Not only does the employment report give basic employment payroll statistics for the major working sectors, it also provides the average hourly earnings and the average workweek. Using this information provided by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor, economists estimate many other economic indicators such as industrial production, personal income, housing starts, and GDP monthly revisions. Since there is little data for economists to base their estimates on, the margin of error for the estimates tends to be high. As a result, the employment report can cause substantial market movements.

The BLS compiles data from two unrelated surveys that they conduct, the household survey and the establishment survey, in order to complete the employment report. This explains why sometimes there is an unexpected divergence between the unemployment rate and payrolls figures each month.

This week's employment data will provide valuable insight into factors the Federal Open Market Committee will use to make future rate decisions. If employment remains weak the Fed may seriously consider keeping rates low.

Where people come first!

WR Starkey Mortgage, LLP
NMLSR# 2146

6025 S. Quebec Street #110
Centennial, CO 80111


Jason M. Keith Senior Loan Officer
Office: 720.489.0712 e-Fax: 1.866.546.9030 Cell: 303.263.6135 jkeith@wrstarkey.com LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Making a change

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Fri, 01 Jul 2011 11:22:17 -0700

I haven't been blogging lately, a change in companies has taken priority and kept me from blogging. As the dust is settling with my new company American Home Funding I plan on have a much improved blogging system in place with more information and more consistency. It was a tough decision and one I did not take lightly. I'm excited and looking forward to the new opportunities!

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage News

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 20 Jun 2011 11:49:01 -0700

Market Comment - Week of June 20th, 2011

Mortgage bond prices fell last week pushing mortgage interest rates slightly higher. There were large swings throughout the week. Rates were pressured higher Tuesday following stronger than expected producer price index data. Retail sales showed a decline but not as bad as expected. Consumer prices rose higher than expected. The headline figure rose 0.2% and the core rate, which excludes volatile food and energy, rose 0.3%. Fortunately the Greek debt worries continued and some flight to quality buying of mortgage bonds ensued Thursday morning. Unfortunately mortgage bonds still ended the week worse by about 1/4 to 3/8 of a discount point.

The Fed meeting and the comments that follow will be very important this week. The beginning of the week is void of any significant data but the end of the week has some events that may result in mortgage interest rate volatility.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Existing Home Sales	Tuesday, June 21, 2011	5.04m	Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates.
Fed Meeting Adjourns	Wednesday, June 22, 2011	No rate change	Important. Few expect the Fed to raise rates, but some volatility may surround the adjournment of this meeting.
Weekly Jobless Claims	Thursday, June 23, 2011	420k	Important. An indication of employment. Higher claims may result in lower rates.
New Home Sales	Thursday, June 23, 2011	340k	Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.
30Y TIPS Treasury Bond Auction	Thursday, June 23, 2011	None	Important. Bonds will be auctioned. Strong demand may lead to lower mortgage rates.
Q1 Revised GDP	Friday, June 24, 2011	Up 1.8%	Very important. The aggregate measure of US economic production. Weakness may lead to lower rates.
Durable Goods Orders	Friday, June 24, 2011	Down 0.9%	Important. An indication of the demand for "big ticket" items. Weakness may lead to lower rates.

Fed Meeting

The United States central bank, the Federal Reserve, coordinates the borrowing and lending activities of federally chartered banks. The principal reason the Federal Reserve was created was to reduce severe financial crises. One way of accomplishing this goal is to control the amount of money that flows through the economy. By manipulating the US money supply, the Fed influences inflation, unemployment, and the level of US economic activity. The Fed has a variety of tools that it uses to control the money supply, but its chief policy tool is the manipulation of short-term interest rates.

The Federal Reserve can adjust two distinct short-term interest rates. The discount rate is the interest rate which banks pay the Fed for primarily overnight loans. Despite its name, the Fed funds rate is the rate banks pay to borrow from other banks. The Federal Reserve has direct control over the level of short-term interest rates, the Fed's influence over longer-term interest rates is less certain. All eyes will be focused on the Fed meeting Wednesday. Most analysts predict no rate change.

Keep in mind that a Fed rate change does not automatically mean mortgage interest rates will change. The Federal Reserve has direct control over the level of short-term interest rates. The Fed's influence over longer-term interest rates is less certain. A cautious approach to float/lock decisions is prudent heading into the Fed meeting this week. Market volatility is likely.

Where people come first!

WR Starkey Mortgage, LLP
NMLSR# 2146

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage News

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 13 Jun 2011 14:37:38 -0700

Mortgage News

Market Comment - Week of June 13th, 2011

Mortgage bond prices fell last week pushing mortgage interest rates slightly higher. There were large swings throughout the week. Rates were pressured higher Monday morning. Bonds rallied mid week following Fed Chairman Beneranke's comments about weakness in the economy which helped stabilize rates. Unfortunately strong stocks and a weak 30Y Treasury auction Thursday erased the improvements seen Wednesday. Mortgage bonds ended the week worse by about 1/8 of a discount point.

The inflation data this week will be significant. If inflation exceeds estimates on the consumer or producer side we could see a spike in mortgage interest rates. Tame inflation readings are always welcome.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Retail Sales	Tuesday, June 14, 2011	Up 0.4%	Important. A measure of consumer demand. A smaller than expected increase may lead to lower mortgage rates.
Producer Price Index	Tuesday, June 14, 2011	Up 0.6%, Core up 0.2%	Important. An indication of inflationary pressures at the producer level. Lower figures may lead to lower rates.
Consumer Price Index	Wednesday, June 15, 2011	Up 0.4%, Core up 0.2%	Important. A measure of inflation at the consumer level. Lower than expected increases may lead to lower rates.
Industrial Production	Wednesday, June 15, 2011	Down 0.1%	Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Capacity Utilization	Wednesday, June 15, 2011	76.9%	Important. A figure above 85% is viewed as inflationary. A decrease may lead to lower mortgage interest rates.
Weekly Jobless Claims	Thursday, June 16, 2011	430k	Important. An indication of employment. Higher claims may result in lower rates.
Housing Starts	Thursday, June 16, 2011	520k	Important. A measure of housing sector strength. Weakness may lead to lower rates.
U of Michigan Consumer Sentiment	Friday, June 17, 2011	74.1	Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.

Oil

Inflation fears tied to rising energy prices remain on the minds of traders. OPEC failed to raise production levels and many are preparing for large price spikes throughout the rest of this year as demand increases and supplies remain the same. Recent forecasts call for prices to skyrocket off the already high levels. That would be a disaster for the wobbly economy. The fate of mortgage interest rates in a scenario like that is even more uncertain. A US representative cautioned that the use of the US Strategic Petroleum Reserve might be necessary to "head off an economic collapse from continued high gas prices."

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

I missed my Memorial Day post.

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Wed, 01 Jun 2011 17:52:29 -0700

I missed my Memorial Day post.

It's true, I had some technical difficulties transferring my files from my camera to my computer. I'm not saying it's my fault!!!

I've posted before about Red Day with Keller Williams and all the wonderful things they have going on, and wanted to end this blogging chain with a few pictures of my Grandparents at Fort Logan Cemetary. World War II Naval Veteran. My father served in Vietnam and I served 8 years in the army. I miss you "Papa" and thank you for all you've done. He was the best man in my wedding, I'll never forget you.

My Grandmother Evelyn

What a beautiful Cemetary, God Bless our troops.

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage Update

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Tue, 31 May 2011 15:41:54 -0700

Market Comment - Week of May 30th, 2011

Mortgage bond prices rose last week pushing mortgage interest rates slightly lower. Rates were helped by some flight to quality buying of US debt instruments tied to Euro debt uncertainty. Italy's credit outlook was downgraded and Greece's debt situation remained in turmoil. New home sales data was stronger than expected while durable goods orders surprised to the downside. Gross domestic product data came in weaker than expected which helped hold rates steady. Mortgage bonds ended the week better by about 1/8 of a discount point.

The employment report will be the most significant release this week. The bond market is closed Monday for the holiday and conditions may be volatile Tuesday morning when trading resumes.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Consumer Confidence	Tuesday, May 31, 2011	72	Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.
ADP Employment	Wednesday, June 1, 2011	150k	Important. An indication of employment. Weakness may bring lower rates.
ISM Index	Wednesday, June 1, 2011	60.2	Important. A measure of manufacturer sentiment. Weakness may lead to lower mortgage rates.
Construction Spending	Wednesday, June 1, 2011	Up 0.8%	Low importance. An indication of economic strength. Significant weakness may lead to lower rates.
Weekly Jobless Claims	Thursday, June 2, 2011	415k	Important. An indication of employment. Higher claims may result in lower rates.
Revised Q1 Productivity	Thursday, June 2, 2011	Up 3.2%	Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
Factory Orders	Thursday, June 2, 2011	Up 0.7%	Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Employment	Friday, June 3, 2011	9%, 150k	Very important. An increase in unemployment or weakness in payrolls may bring lower rates.

Productivity

Productivity is the rate at which goods or services are produced. It is most commonly defined in terms of labor, which is the contribution of people to the process. Labor costs represent about two thirds of the value of the output produced. The Bureau of Labor Statistics of the US Department of Labor releases the most widely cited productivity statistics quarterly and annually. Increased productivity is often credited for economic growth with little signs of inflation.

Productivity is significant in that as it increases, businesses can produce more with the same or less input. This wealth building effect is vital to the US economy. As productivity increases, the US economy generally performs better. As productivity decreases, the economy generally suffers. While the bond market generally favors signs of weakness in the economy, bonds tolerate growth as long as the economic environment shows little or no inflationary pressures. Keep in mind that rates remain very favorable. Now is a great time to avoid the uncertainty surrounding continued market volatility.

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage News

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Fri, 27 May 2011 14:50:02 -0700

Mortgage News

THE NEW NORMAL is what this week is all about. The economic data shows that the pace of the recovery has slowed. While new home sales came in above last month's numbers, the level is still low by comparison to prior years. Businesses are ordering less durable goods (big stuff) and unemployment remains stubborn. But this does NOT mean that the recovery is ending. It DOES mean that we are in a ‘new normal'.

The economic melt down that occurred in ‘07 and ‘08 (wow, has it been that long?) shrunk our economic engine. Now there is less income and fewer assets to create growth, so growth is slower. Not only that, but it's like when you lost your job and you charged your living expenses. Now that you have a job, you have less to spend on current stuff because you're still paying for the stuff you put on the Visa card. It just takes more time to buy that new car or TV you wanted. In short, we have a lot excess we have to work through (housing, manufacturing capacity, etc.) with less to work though it with (slower GDP), so it takes longer at a slower pace.

But DON'T let the numbers fool you OR your buyers. We are still recovering. Affordability has never been better. It's actually a GREAT time to be buying a home.

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Supporting our Troops

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Tue, 24 May 2011 14:03:53 -0700

Supporting our Troops

Yesterday I posted a blog about Keller Williams Red Day and all of the amazing things this company does for their local neighborhoods.

At the Keller Williams Action Realty office in Parker they had a fantastic idea! We all got together and folded 600 flags to send to the troops on the front line.

I've worked with one of the best; The Foerster Team at that office and was happy to help!

So many agents, and people came to help fold the American flag, write a note, and place it in a pouch to send over seas to our military troops. Having served myself I can tell you what an amazing feeling you get when you hear that people back home care and do appreciate what you do! God Bless our troops and thank you again Keller Williams Action Realty for an amazing event! We touched the lives of our troops and that is something to be so proud of!

A couple of pictures at the event:

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Giving back and Reminiscing

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 23 May 2011 11:35:47 -0700

Giving back and Reminiscing

A couple weeks ago (May 12th) Keller Williams has a nation wide Red Day event. This is an amazing event that involved most of the Keller Williams offices all across the US. They all volunteer in their local neighborhoods for one charity event or another. All fantastic projects for great causes.

I had the pleasure of helping out with two offices in Colorado this year and both had worthy causes that made a huge difference. The Keller Williams Executives Realtyoffice in Highlands Ranch Colorado got in touch with the good people at Ft. Logan Cemetaryand put together a project that put new bushes, plants, landscaping at the front gates as well as several other areas around the cemetery.

This was a 3 day project and most of it was done in the rain (even snow)! A ton of hard work went into this and I want to be sure to give special thanks to Janice Schettler who was at the forefront at organizing everyone to get together for this project. It wasn't just because I've served in the army, but this project meant a lot to me personally as my Grandfather (a World War II vet) is laid to rest their with his wife (Don and Evelyn Spence, I love and miss you so much!). It was a great opportunity not only to give, but feel closer to loved ones I grew up with. While working out there I was taken aback by the number of funeral processions that came through. Every day, 5 days a week, non stop. So as we gear up for Memorial day weekend, I thought it appropriate to blog about what Keller Williams has done. We must remind ourselves of the freedom we have and no it truly is unique and cannot be taken advantage of.

Thank you soldiers, for all that you have done, and continue to do. Stay tuned as I continue to blog throughout the week as I will be talking more about this project as well as about the Keller Williams Action Realty and the support for our troops on the front line!

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage Update

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 23 May 2011 10:57:04 -0700

Market Comment - Week of May 23rd, 2011

Mortgage bond prices rose last week pushing mortgage interest rates slightly lower. We started the week positive while stocks struggled. Housing starts, industrial production, and capacity use data all were weaker than expected which helped rates improve Tuesday. Lower than expected weekly jobless claims caused rates to initially spike higher Thursday morning. Fortunately the leading economics indicators data and decent 10Y TIPS auction helped stem that weakness. Mortgage bonds ended the week better by about 1/8 to 1/4 of a discount point.

The PCE core inflation data will be one of the more significant releases this week. Any indication of inflation would not bode well for lower rates.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
New Home Sales	Tuesday, May 24, 2011	288k	Important. An indication of economic strength and credit demand. A decrease may lead to lower rates.
2-year Treasury Note Auction	Tuesday, May 24, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Durable Goods Orders	Wednesday, May 25, 2011	Up 3.2%	Important. An indication of the demand for
5-year Treasury Note Auction	Wednesday, May 25, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Q1 Revised GDP	Thursday, May 26, 2011	Up 1.8%	Very important. The aggregate measure of US economic production. Weakness may lead to lower rates.
Weekly Jobless Claims	Thursday, May 26, 2011	415k	Important. An indication of employment. Higher claims may result in lower rates.
7-year Treasury Note Auction	Thursday, May 26, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Personal Income and Outlays	Friday, May 27, 2011	Up 0.3%, Up 0.4%	Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.

PCE Core

The US Department of Commerce's Bureau of Economic Analysis releases the core PCE price index. The report provides the average increase in costs for personal consumption expenditures excluding food and energy. As of July 2009 the figure now includes food services in the figure.

The report is significant in that the Fed uses the PCE in determining inflation as opposed to the prior use of the consumer price index. The reports vary in that the CPI in that the PCE includes the price of spending for and on behalf of households. This includes health care spending paid for a household by a business. The CPI only reflects out of pocket expenses paid directly by consumers.

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Mortgage Wrap Up

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Fri, 20 May 2011 16:38:22 -0700

There was some good news on jobless claims this week showing that the economy continues to add jobs. But the housing data came out weak, overshadowing the jobs numbers and confirming that our recovery has its ups and downs. Building permits, housing starts and existing home sales all came in lower than last month. A weak week means inflation is still not in the picture and consequently rates dropped a bit. Good news for home buyers.

But when I went grocery shopping this week it got me started thinking about the low inflation numbers that are helping to keep interest rates low. I looked at the prices and I filled up my gas tank and looked at the total and inflation is sure back in MY pocket book. So why are the numbers so low when it comes to inflation that the Fed monitors? Well, HOUSING is a huge part of the CPI and housing is AMAZINGLY affordable these days. So while that package of bacon now costs $10 and my gas tank requires $75 to fill up, my mortgage payment is comparatively LOW. You need to get this message through to your buyers. Housing is the BEST buy in the market place today and they need to grab it.

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage Update

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 16 May 2011 12:10:17 -0700

Market Comment - Week of May 16th, 2011

Mortgage bond prices rose last week pushing mortgage interest rates slightly lower. We started the week positive when it was announced Greek's debt rating was downgraded. Retails sales were slightly lower than expected. Inflation readings on the producer side were slightly higher than expected as prices rose 0.8% and the core rose 0.3%. Consumer prices rose 0.4% and the core rate, which excludes the volatile food and energy costs, rose 0.2%. The core value was higher than expected mirroring PPI earlier in the week. Unfortunately the 30-year auction results showed poor demand that caused the bond market to fall and rates to rise Thursday afternoon. Mortgage bonds ended the week better by about 1/4 of a discount point.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Housing Starts	Tuesday, May 17, 2011	529K	Important. A measure of housing sector strength. Weakness may lead to lower rates.
Industrial Production	Tuesday, May 17, 2011	+0.6%	Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Capacity Utilization	Tuesday, May 17, 2011	76.2	Important. A figure above 85% is viewed as inflationary. Weakness may lead to lower rates.
Weekly Jobless Claims	Thursday, May 19, 2011	440k	Important. An indication of employment. Higher claims may result in lower rates.
Existing Home Sales	Thursday, May 19, 2011	5.10M	Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates.
Philadelphia Fed Survey	Thursday, May 19, 2011	19.2	Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates.
Leading Economic Indicators	Thursday, May 19, 2011	+0.5%	Important. An indication of future economic activity. Weakness may lead to lower rates.
10-year TIPS Treasury Note Auction	Thursday, May 19, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Man in the Mirror

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 09 May 2011 13:06:16 -0700

Man in the Mirror

I read this in an email I received this morning from my Regional Coordinator.

"The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy."

This morning I started off on the wrong foot, I was a bit overwhelmed with things around me. I than thought about this quote and what it means. So I did a little exercise. Thinking about someone I admire, someone that shows character and values in times of controversy. What did I think about this person? How does it make me feel? I than went and stood in front of a mirror, and said those same things to myself. Sometimes it's easier at looking at someone else and seeing their values. It's harder to see it in yourself.

We are faced with many challenges in this industry and so much of it is out of our control. This quote helped me realize the one thing I DO control: My attitude towards these challenges.

No matter what happens, I decide if it's going to stress me out or if I face it with a positive attitude and over come.

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage Update

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 09 May 2011 12:08:04 -0700

Market Comment - Week of May 9th, 2011

Mortgage bond prices rose last week pushing mortgage interest rates lower. We were positive throughout most of the week as stocks struggled and oil prices fell. The ADP employment figure was lower than expected and weekly jobless claims were higher than expected which generally helped mortgage bonds. Unfortunately the payrolls component of the employment report Friday morning surprised to the upside and some of the earlier improvements were erased. Mortgage bonds ended the week better by about 1/4 of a discount point.

The inflation data will take center stage this week. Any surprises to the upside on the consumer or producer sides will likely put upward pressure on rates. Foreign demand for the auctions this week will also be important.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
3-year Treasury Note Auction	Tuesday, May 10, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Trade Data	Wednesday, May 11, 2011	$45.5b deficit	Important. Affects the value of the dollar. A falling deficit may strengthen the dollar and lead to lower rates.
10-year Treasury Note Auction	Wednesday, May 11, 2011	None	Important. Notes will be auctioned. Strong demand may lead to lower mortgage rates.
Weekly Jobless Claims	Thursday, May 12, 2011	455k	Important. An indication of employment. Higher claims may result in lower rates.
Producer Price Index	Thursday, May 12, 2011	Up 0.6%, Core up 0.4%	Important. An indication of inflationary pressures at the producer level. Weaker figures may lead to lower rates.
Retail Sales	Thursday, May 12, 2011	Up 0.3%	Important. A measure of consumer demand. A smaller than expected increase may lead to lower mortgage rates.
30-year Treasury Bond Auction	Thursday, May 12, 2011	None	Important. Bonds will be auctioned. Strong demand may lead to lower mortgage rates.
Consumer Price Index	Friday, May 13, 2011	Up 0.6%, Core up 0.2%	Important. A measure of inflation at the consumer level. Weaker figures may lead to lower rates.

Consumer Price Index

The Consumer Price Index is widely accepted as the most important measure of inflation. The CPI is a measure of prices at the consumer level for a fixed basket of goods and services. The National Statistics Office and the Bureau of Agricultural Statistics of the Department of Agriculture collect price data for the computation of the CPI. Since it is an index number, it compares the level of prices to a base period. By comparing the level of the index at two different points in time, analysts can determine how much prices have risen in that period. Unlike other measures of inflation, which only factor domestically produced goods; the CPI takes into account imported goods as well. This is important due to the ever-increasing reliance of the US economy upon imported goods. Analysts primarily focus on the core rate of the CPI which factors out the more volatile food and energy prices. Record debt levels continue to weigh heavily upon the financial markets. The Fed has tried to pump up the economy but in doing so has stoked inflation fears.

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Our 3rd Annual RED Day Event: Support Our Troops

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Wed, 04 May 2011 10:37:59 -0700

This is a great cause!! I'm looking forward to joining in. Being a veteran myself I know this will show the troops we do care. I've disapbled comments please visit: Via Donna Foerster, Metro Denver Real Estate Agent (Keller Williams Action Realty):

Via Donna Foerster, Metro Denver Real Estate Agent (Keller Williams Action Realty):

Our 3rd Annual RED Day Event: Support Our Troops

Mark Your Calendar and Save The Date!

YOU are invited to join Keller Williams Action Realty for our 3rd Annual RED Day Event. Every year in May we set aside a day of service. This year we are honoring the men and women who serve in our military.

We will celebrate RED Day 2011 on Thursday, May 12th between 10am and 4pm. All volunteers are welcome, so invite your friends, family, neighbors and co-workers to join the fun and fellowship.

What will be doing for 6 hours on a Thursday afternoon?? Folding flags! We will be folding and preparing pocket flags to send off to our troops serving the front lines in combat zones around the world. Each flag will have THIRTEEN folds. Each fold carries a deeper meaning. Here are the first 3 folds. To learn the other 10, you'll have to come and join us! We'd love to see you!

~The 1st FOLD of our Flag is a symbol of life.

~The 2nd FOLD is a symbol of our belief in eternal life.

~The 3rd FOLD is made in honor and remembrance of the Veterans departing our ranks who gave a portion of their lives for the defense of our country to attain peace throughout the world.

~After the flag is completely folded and tucked in, it takes on the appearance of a cocked hat, Ever reminding us of the Soldiers who served under General George Washington, and the Sailors and Marines who served under Captain John Paul Jones, who were followed by their comrades and shipmades in the Armed Forces of the United States, preserving for us the rights, priveleges and freedoms we enjoy today.

(Clipart courtesy of Keller Williams and Microsoft Office.)

Donna Foerster

The Foerster Team

Keller Williams Action Realty

www.TheFoersterTeam.com

720-530-5554 (cell)

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Tooting my own horn

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Tue, 03 May 2011 13:43:26 -0700

Tooting my own horn

I received a phone call from 5280 magazine and was told I was selected as one of the top loan officers in Denver with customer satisfaction! Wow this really made my day. The selection process came from a survey done by Five Star Professionals. I'm very excited as I learn more about the release in the magazine coming up in September!

The survey is conducted by calling over 40,000 people last year that purchased or refinanced their loan. They ask if they remember who their loan officer was and if they would recommend them again. I ranked in the top 7%! Through all the challenges the mortgage industry has brought it is a fantastic feeling to hear that the buyer appreciates what you have done.

I'm proud to say customer service is not dead, and it DOES matter!

Thank you to my clients, thank you to 5280 magazine and Five Star Professionals. It always feels good to help other people, but to be recognized for it feels pretty good to!

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Mortgage Commentary

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Mon, 02 May 2011 11:21:02 -0700

Market Comment - Week of May 2nd, 2011

Mortgage bond prices rose slightly last week pushing mortgage interest rates lower. The Fed meeting resulted in no interest rate adjustments at this time despite continued talk of inflation fears. The data was mixed. Durable goods orders came in higher than expected pushing rates higher Wednesday morning. Weekly jobless claims came in at 429k, higher than the expected 390k and helped rates recover and rally Thursday. Mortgage bonds ended the week better by about 1/2 of a discount point.

The employment report will be the most important release this week. The weekly jobless claims and ADP data will also shed light on the state of employment.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
ISM Index	Monday, May 2, 2011	61.1	Important. A measure of manufacturer sentiment. Weakness may lead to lower mortgage rates.
Factory Orders	Tuesday, May 3, 2011	Up 0.1%	Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
ADP Employment	Wednesday, May 4, 2011	125k	Important. An indication of employment. Weakness may bring lower rates.
Weekly Jobless Claims	Thursday, May 5, 2011	420k	Important. An indication of employment. Higher claims may result in lower rates.
Preliminary Q1 Productivity	Thursday, May 5, 2011	Up 2.2%	Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
Employment	Friday, May 6, 2011	8.7%, +205k	Very important. An increase in unemployment or a large decrease in payrolls may bring lower rates.
Consumer Credit	Friday, May 6, 2011	$7.5b	Low importance. A significantly large increase may lead to lower mortgage interest rates.

ADP Employment

The ADP employment report is a measure of employment derived from data of roughly 500,000 US businesses. The survey focuses on the private sector of the economy. In contrast, the Bureau of Labor Statistics releases the regular employment report which includes both private and government employment statistics.

The ADP employment report has gained more prominence lately in that it is delivered prior to the Friday employment report. This gives analysts an improved forecast heading into the payrolls component of the employment report later in the week.

The Fed is usually focused on keeping inflation in check. Tightening employment conditions can result in wage inflation. The ADP report provides solid data on these conditions. Despite this, the data still can diverge from the regular employment report. The employment report is derived from a household survey and an establishment survey. These surveys often differ from one another and from the ADP employment report in that they are based on different data sets. There are no guarantees that the most important employment report the first Friday of each month will mirror the ADP report released 2 days prior. With this in mind floating into the data is always very risky. Now is a great time to take advantage of mortgage interest rates at these historically favorable levels to avoid future market volatility.

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Friday Mortgage Wrap Up

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Fri, 29 Apr 2011 13:28:36 -0700

Friday Mortgage Wrap Up

Good news this week as inflation is not really showing up in the core PCE index - the Fed's measure of inflation. It came in just under 1%. If you are a long time reader, you know that inflation is the main force that moves rates up or down. For this reason, and with the help of the Fed's continued buying of mortgage backed securities, mortgage rates actually dipped a bit this week. QE2, which is Fed speak for printing money to buy U.S. treasuries and mortgage backed securities, will continue through June. The Fed is determined to keep rates low as the economy recovers. That said, we ARE seeing a recovery and personal income is up just a bit. At some point, either next week or in a month or two, you will see inflation creep into the market and even the Fed can't keep rates from rising if inflation enters the picture.

The really surprising news, and the reason for your buyers to buy, is the fact that pending home sales skyrocketed over last month, coming in at 5% vs. 2.1%. The sales comparisons between now and a year ago don't really show what's going on since this time last year the numbers were artificially inflated by the government home buyer incentive. Looking at the month to month numbers clearly shows momentum is building. The ‘perfect house' that your buyers wanted just went under contract to someone else. So tell them if they snooze, they'll loose. PLUS rates are STILL GREAT!

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.

Monday Morning Mortgage Update (OK, it's Tuesday...)

Jason M. Keith - Lending in 5280 (WR Starkey Mortgage) — Tue, 26 Apr 2011 11:43:13 -0700

Market Comment - Week of April 25th, 2011

Mortgage bond prices rose slightly last week pushing mortgage interest rates lower. The data was mixed. Housing starts, existing home sales, and leading economic indicators data were all higher than expected which didn't bode well for mortgage bonds. However, weekly jobless claims and the Philadelphia Fed business conditions index were both bond friendly. We rallied nicely Tuesday as stocks struggled a bit that day and most of the small gains for the week came from that. Mortgage bonds ended the week better by about 1/8 of a discount point.

The US Treasury will auction 2, 5, and 7-year notes this week. If foreign demand for US debt remains strong rates should stay the same or improve.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
New Home Sales	Monday, April 25, 2011	245k	Important. An indication of economic strength and credit demand. A decrease may lead to lower rates.
Consumer Confidence	Tuesday, April 26, 2011	63	Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.
Durable Goods Orders	Wednesday, April 27, 2011	Up 1.5%	Important. An indication of the demand for "big ticket" items. Weakness may lead to lower rates.
Fed Meeting Adjourns	Wednesday, April 27, 2011	No rate change	Very Important. Few expect the Fed to raise rates yet, but some volatility may surround the adjournment of this meeting.
Q1 Advance GDP	Thursday, April 28, 2011	Up 1.7%	Very important. The aggregate measure of US economic production. Weakness may lead to lower rates.
Weekly Jobless Claims	Thursday, April 28, 2011	400k	Important. An indication of employment. Higher claims may result in lower rates.
Personal Income and Outlays	Friday, April 29, 2011	Up 0.4%, Up 0.5%	Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation	Friday, April 29, 2011	Up 0.2%	Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve.

Bernanke Press Conference

The Fed meets next week with results Wednesday afternoon. In an effort to increase transparency Fed Chairman Bernanke will hold a press conference following the results. This is a major change in Fed protocol in that prior meetings had the Fed announce the results with only a brief statement. Bernanke's foreign counterparts regularly hold press conferences. However, many analysts and even Fed officials themselves have concerns about this change. They worry Bernanke may unintentionally say something that rattles the financial markets. Bernanke will try his best not to cause instability but the press conference will definitely be an event to watch carefully.

WR Starkey Mortgage, LLP - A different kind of company...where people come first!

6025 S. Quebec Street #110
Centennial, CO 80111


Jason Keith Senior Loan Officer
Office: 720-489-0712 e-Fax: 866-445-5694 Cell: 303-263-6135 jkeith@wrstarkey.com www.LoansFromJason.com NMLSR# 288509 LMB100018303

Views and opinions expressed on this site are not necessarily those of Starkey Mortgage.

Jason M. Keith
Senior Loan Officer
LMB100018303
NMLSR # 288509
Cell: 303-263-6135
jkeith@starkeymtg.com

Starkey Mortgage

6025 S. Quebec Street

Suite 110

Centennial, CO 80111

To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm.