| |
salt lake mortgage: The Daily Bond Report - 08/01/08 11:17 AM
Friday, August 01, 2008
Unemployment jumped to 5.7% beating estimates, but June employment payrolls 17,000 less than expected. Who makes these estimates!?!?!?! So far, the economy has lost a total of 463,000 jobs this year. Alan Greenspan, famous for being pulled out of the mothballs and dusted off, talked about what he feels as an eminent recession on the horizon. His words, not mine Steve... Here's where the bonds will have a hard time making ground today even with the DOW down more than 70 points in early trading. On his interview on CNBC, he felt that the U.S. housing market … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 07/31/08 02:03 PM
Thursday, July 31, 2008
I have a real problem accepting the price of gas when once again Exxon reported record profits... they did miss what analyst expected though. Off my soapbox. The second quarter GDP rose 1.9%, nearly doubling last quarter, but less than the 2% analysts were hoping for. Sounds good to many, but some are worried that the economic Stimulus package was more to thank than the economy actually growing, leading to much weaker numbers in the next quarter. In a direction opposite to yesterdays ADP report, initial jobless claims rose to 448,000 last week, the highest since April … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 07/30/08 12:24 PM
Wednesday, July 30, 2008
Let's start with the bad news and work our way to good. Mortgage applications dropped 14.1% to levels not seen since 2000, with purchase applications down 7.8%. This is understandable in our ever tightening loan market. With rates up and concerns on inflation being the biggest reason, the best action is to have rates go down and hope the inflation hype relaxes. On to the good news. Today we had a set of positive signs for investors for both the bond and stocks. This month's ADP jobs report came in with an expected gain of 9,000 jobs … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 07/29/08 01:17 PM
Tuesday, July 29, 2008
When bad news goes good... bonds took a slight nosedive today after investment bank Merrill Lynch said late Monday it would take a $5.7 billion write-down and sell off $30 billion in mortgage backed securities (MBS) this quarter.... At 1/5th their face value. They are doing this, along $8.5 billion through the issuance of new stock, just to bring the write-down to only $5.7 Billion. If I were an investor I would dump all I had in MBS and get in line for this fire sale. Also in the bad, good, and ugly, S&P/Case-Shiller Home Price Index … (0 comments)
|
salt lake mortgage: The Daily Bond - 07/28/08 01:49 PM
Monday, July 28, 2008
Today is a sure float day... for now. With a number of economic reports due out this week, today's happy bond day is due to the sad stock day. Thankfully oil is in a holding pattern even though there was a small bombing issue on one of the pipelines. What is really giving a boost today is not only the approval of the new housing bill, but that the president is also expected to sign it. The latest addition will not only extend the ability for the Federal government to lend money to Freddie and Fannie, but … (1 comments)
|
salt lake mortgage: The Daily Bond Report - 07/18/08 01:55 PM
Wednesday, July 16, 2008
The one thing you can count on when you take time off is that whatever can go wrong will. Earnings reports have been coming out this week, and as expected the losses were major. The interesting part is that they were not as major as expected. Today was no exception. Citigroup came out today reporting their losses $2.5 Billion for the last quarter, beating analysts' estimates of $3.6 billion. With the losses less than expected, investors believe the wave of mortgage defaults are on the wane and the end of the mortgage mess is near. Remember investors … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 07/16/08 01:19 PM
Wednesday, July 16, 2008
yea, it's been a lock day. Most of the market news making the DOW shooting up was based not on companies reporting record profit, but rather loosing less than expected. I am a big fan of finding the silver lining in mushroom cloud that has been the market lately, and it seems that the rest of the market is taking the same approach today. Big Ben is on the hill again today making sure that everyone knows Freddie and Fannie are not going to fail or be taken over by the government. Also making the news today … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 06/19/08 12:17 PM
Thursday, June 19, 2008
It's another mattress day today as the bond, oil, and the Dow are all struggling to be positive. Making market news today are Mays Leading Economic Indicators, Jobless claims, and the Fed Philly Survey. The LEI, which measures 10 different aspect of the economy and trying to predict how well (or bad) we will do over the next 6 months, came in up .1% in May. Although it is an improvement, it isn't enough to really boost confidence in the market. Initial Jobless claims beat expectations (bad) coming in at 381,000 for last week. Normally a bond … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 06/18/08 03:37 PM
Wednesday, June 18, 2008
We are having a modest rally on the bond today. Currently we are up 64 Bp for the day, and 40 Bp since pricing came out at 10 am, giving us 2 re-prices for the better. The main driving force today is more on worries from the earnings reports and the effect they are having on the DOW, causing investors to move to the safety of the bond. Today both Morgan Stanley and Fifth Third Bancorp came out with much lower than expected earnings, with Morgan Stanley reporting that profits fell more than 57% from a year … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 06/17/08 11:21 AM
Tuesday, June 17, 2008
Here is something that you don't hear every day. Kuwaiti Finance Minister Mustafa Al-Shimali stated today that oil prices are too high and that they should be around $100 per barrel. With this coming from the 4th largest oil producing member OPEC, oil has retreated below $134 again. Housing starts fell 3.3% in May, the lowest in 17 years. This is bad news for the construction industry, but good for the market as a whole as we all painfully know, we could use a reduction in inventory. The Producer Price Index came out today at 1.4%, or … (1 comments)
|
salt lake mortgage: One Last thought - 06/03/08 01:07 PM
Coming soon to a lender near you...RETURN OF THE SISA... 100% 620 FICO, WAGE EARNER, ROLLING 30'S OK!!! Naaaa. That is what got us into the mess in the first place. The SISA has returned, but in a tamed down (somewhat sensible) version. What is allowed is 80% CLTV at a 680 FICO, on a primary residence or 700 on second homes. Investments are not allowed (yet). This program is only offered to self employed borrowers (sorry wage earners), but does allow for interest only. The program is close to conforming in the rates with a price hit of only .25 … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 05/30/08 12:24 PM
Friday, May 30, 2008
Consumer confidence fell to a 28 year low according to the University of Michigan. This is the lowest reading since June 1980. To make everyone happy income rose .2%, but inflation is now expected to surge 5.2% (highest since 1982). Here I thought only bad hairdo's came from the 80's. With fuel costs nearing $4.00 a gallon, words like stagflation and staycation are starting to show up more in the news. Speaking of oil, the federal government has been investigating... well... the federal government for possible price manipulation in the U.S. oil markets. The bond had been … (0 comments)
|
salt lake mortgage: The Daily Blog for the Tooele and Salt Lake Real Estate Markets - 05/22/08 01:55 PM
The big fear of oil has calmed down for the moment. This morning investors woke up to $135 a Bbl in overnight trading. Oil has since retreated back to the $130. The 2 big market movers today are unemployment home prices. Unemployment beat estimated by a mere 5,000 last month, but it was enough to give investors the needed boost to start buying stocks again. Home prices also dropped a record 3.1% last quarter, the lowest since they started recording the numbers 17 years ago. Both of these drops have caused havoc to the Bond market, which is down 48 Bp … (0 comments)
|
salt lake mortgage: The Daily Bond Report - 05/21/08 12:49 PM
Wednesday, May 21, 2008
Last week mortgage applications fell 7.8%, with purchases falling to a five year low of -6.9%. Oil is fast approaching $132 a Bbl today, putting a hard hammer to both the Bond and Stock market. The minutes from the last Federal Open Market Committee are released this afternoon. As soon as it is dissected and review by investors for comments on the economy and inflation, expect a move in one direction or another. With oil still climbing, inflation is becoming the concern in the trading pits. Currently the bond is down 28 Bp since trading opened and … (0 comments)
|
salt lake mortgage: The Daily Bond Report for the Tooele and Salt Lake City Real Estate Markets - 05/20/08 02:11 PM
It's another rodeo ride for the bond market today. The biggest market news is OIL (again), and it's push to the $130 mark. Economists' have been predicting $200 a bbl by year's end and it is starting to look like it may happen. Anyone have a Moped for sale? The Labor department's Producer Price Index(PPI) came out today, and the core (taking out energy and food) rose to .4% doubling what economists had expected. The overall PPI actually dropped, which has been a head scratcher given the cost of fuel and food recently. In mortgage news, the senate approved a bi-partisan … (0 comments)
|
salt lake mortgage: Daily Bond Report for The Tooele ans Salt Lake Real Estate Market - 05/14/08 11:47 AM
Wednesday, May 14, 2008
After yesterday's dismal drop, today's market works just fine for me. We are still in a lock mode, meaning that if a client signs that purchase contract, it's best to have them take the rate out there and not bet on better rates tomorrow. Making the market move today is the CPI (consumer price index), a gauge of inflation came in a bit lower than expected even with a .9% jump in food prices. This helped open the flood gates on the DOW, which started the day up 100 points and has yet to drop. Foreclosures are … (0 comments)
|
salt lake mortgage: One Last Thought for The Tooele and Salt Lake Real Estate Markets - 05/12/08 03:13 PM
ZERO MONEY DOWN!!!! NO MONEY DOWN!!!! 100% FINANCING!!! Things of the past right? Wrong.... An article caught my eye today that for lack of a better word dogged the gift program process. Although there may be some less than honest lenders who will push an appraiser to boost numbers, many more are doing the due diligence and providing well valued loans to well valued clients. Down Payment assistance programs have had the heat turned on to them recently and have almost lost their ability to do business altogether. Most may be familiar with them as Nehemiah, but there are many … (0 comments)
|
salt lake mortgage: Weekly Trends for the Salt Lake and Tooele County Real Estate Markets - 05/05/08 02:11 PM
THE JOB MARKET
With all the recent layoffs announced and jobless claims coming in either at or above what was expected, unemployment actually dropped last month. It wasn't big, only a .2% drop, but we are in the market where not so bad news is good news. The biggest hit to the market is still coming from housing and construction, with builder related industries handing out 61,000 pink slips in April. In Utah, non-farm Growth is still at 2.1% (job creation), and unemployment waaay below the national average at 3.3%. According to the Department of Workforce Services, there are still "Tens of … (0 comments)
|
salt lake mortgage: Daily Bond Report for Tooele ans Salt Lake Real Estate Markets - 05/05/08 02:03 PM
Monday, May 05, 2008
Oil futures passed $120 a barrel today. This will put a damper on both the bond and Dow. In other news, the service sector (ISM) beat analysts' expectations and for the first time in months made it above the 50 mark to 52. Remember, anything below 50 shows that the market is contracting. With Countrywide shares dropping after Friedman, Billings, Ramsey & Co, came out today valuing them at $2 per share. Countrywide's rating was reduced to junk may 2nd on worries that Bank of America may not back their debt pending the takeover. Bonds were down over … (0 comments)
|
|
|
|
|
|
Karl Menzer Tooele Utah Real Estate Lender
Tooele,
UT
More about me…
karlmenzer.com
Address: 36 N Main St., Tooele, Ut , 84074
Office Phone: (435) 849-0212
Email Me
 Links
Archives
|
;)
;)
