mahtomedi mortgages: Mortgage Rate "movers" for the week ahead- 03/02/09 - 02/27/09 04:47 AM
The important Employment report will come out next Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Early estimates are for a loss of over 600K jobs in February.
Before the Employment Data, the ISM national manufacturing index and Personal Income will come out on Monday.
Pending Home Sales, a leading indicator for the housing market, is scheduled for Tuesday.
Productivity, Factory Orders, and Construction Spending reports will be released on Thursday.
The amount of money the US Treasury will need to borrow to fund … (1 comments)

mahtomedi mortgages: Mortgage Rate "movers" for the week- 2/23/09 - 02/23/09 04:45 AM
This final week of February will reveal a number of important indicators of economic growth.
Existing Home Sales and New Home Sales will be released on Wednesday and Thursday, respectively. Durable Orders will also come out on Thursday.
Revisions to fourth quarter 2008 Gross Domestic Product (GDP) will be released on Friday, along with the Chicago PMI national manufacturing index.
Consumer Sentiment and Consumer Confidence are on the schedule as well.
Fed speakers, the scheduled Treasury auction on Thursday, and new information about government programs also may have a significant impact on mortgage markets this week. Call or e-mail me before you … (0 comments)

mahtomedi mortgages: It's all in the 'attitude'! - 02/16/09 05:30 AM
After years of being the "grumpy" one, the cynic, the glass is half empty person, I have finally arrived. Last week someone who met me last year and has spent just a small bit of time with me said "You are such an inspiration, you are always so upbeat and looking at the bright side of things". Whew. That was a goal of mine, and I might have achieved it! 
So what is your attitude like? Are you as sick and tired of hearing complaints as I am? Last week the manager of the local gas station was sweeping the sand … (5 comments)

mahtomedi mortgages: Mortgage Rate "movers" for the week ahead- 2/16/09 - 02/13/09 05:16 AM
Inflation data will highlight a full Economic Calendar next week.
Industrial Production, an important indicator of economic activity, and Housing Starts will be released on Wednesday.
The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Thursday.
The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Friday. CPI looks at the price change for those finished goods which are sold to consumers.
In addition, investors will continue to wait for details from the Treasury on the Financial Stability … (0 comments)

mahtomedi mortgages: Mortgage Rate "movers" today- 2/12/09 - 02/12/09 02:35 AM
Mortgage-Backed Securities markets have showed little reaction to the economic data released this morning. January Retail Sales rose 1.0% from December, well above the consensus for a decline of -0.3%. It was the first increase in six months. Economists believe that more consumers postponed their purchases until after Christmas this year, and they don't see the strong data as the start of a new trend. Jobless Claims came in a little higher than expected. Continuing Jobless Claims rose to a new record high. No more economic data will be released today. A 30-yr Treasury auction will take place at 1:00 et.The … (5 comments)

mahtomedi mortgages: Reader's Ideas for "Homemade" Valentines Day Gifts - 02/11/09 09:28 AM
After I had posted "10 Debt-Free Ideas for Valentines Day" on Monday, I was suprised by the feedback I recieved. ideas Your budget is probably already tight this year as you are paying down debt, adding to savings and trying to survive with current economic conditions. But if you still want to give your loved one something special, here are some gift ideas that say ‘I love you' without making your piggy bank squeal.
Frugal Valentine's Day Gifts
1. Homemade card: Get creative and make a card yourself instead of spending money on a generic store bought one. Cut out … (5 comments)

mahtomedi mortgages: Debt-Free Date Ideas for Valentine's Day - 02/09/09 09:36 AM
The hype surrounding Valentine's Day has long made us dig deep into our pockets for the traditional roses, chocolates, and jewelry. According to a 2008 report from the National Retail Federation, consumers expected to spend $122 on Valentine's gifts last year. But this February, in the midst of a roller-coaster economy, the flutter many Americans are feeling has more to do with financial worries than a quickened heartbeat caused by love. Remember that there are plenty of ways to show how you feel without spending a fortune. Inspired by the "Debt Diva", Clarky Davis, here are some ideas for 'debt-free dates'.
1. Romantic Dinner: Have a nice … (5 comments)

mahtomedi mortgages: Mortgage Rate "movers" today- 2/06/09 - 02/06/09 01:08 AM
The US economy lost -598K jobs in January, even worse than the consensus forecast for a loss of -500K jobs. The total losses for 2008 were revised higher to 3 million, up from 2.6 million. Adding in the January figures, the economy shed 3.6 million jobs over the past 13 months, with half of the losses taking place over the past 3 months. The Unemployment Rate jumped to 7.6% from 7.2%, to the highest level since 1992. The manufacturing and construction sectors continued to show weakness. The service sector, which held up relatively well for most of 2008, also posted large … (2 comments)

mahtomedi mortgages: Explaining the 'potential' new Homebuyer Tax Credit - 02/05/09 06:51 AM
I'm sorry I didn't post this IMPORTANT news earlier, but I've been very busy this morning. Last night, the Senate added a significant homebuyer tax credit to the housing stimulus plan.  Here are the key elements of the credit:
*  The tax credit is for the amount of $15,000 or 10% of the purchase price (whichever is less), with the option to utilize all in one year or spread out over two years.  The credit does not have to be paid back.
*  The tax credit is available to all purchases of any home from date of enactment for one full … (2 comments)

mahtomedi mortgages: Facebook? A dinosaur gives in...and loves it! - 02/04/09 06:39 AM
I have to confess...I was a Facebook holdout. Not because of time....but because of loyalty. I'm an AR kind of guy. The kind that likes to post here, and meet RE types from all over the country.....
Until I was 'yelled at' during a seminar on how to effectively use 'social media' like AR & Facebook to augment (not be the sole driver of) my marketing efforts.
I've been signed up for 24 hours (like my favorite TV show!), and already have 21 'friends'......and 2 new potential clients. All for spending 1 hour yesterday learning the system.
Does this mean that … (4 comments)

mahtomedi mortgages: Save Energy....."Pull the Plug" on Electronics - 02/03/09 01:28 PM
It's like leaving the closet light on all day and all night, all year. When 12 months are up, you will have spent between $50 and $70 to keep that light burning.
That's an undeniably wasteful way to blow 50 bucks, but that's how much energy is lost in an average household every year. The culprit: electronics sitting idle. But still, $50 in the grand scheme of things? But think of not just your home, but your neighbors.......and their town after town across America. The problem is more electricity being used, which leads to pollution. It forces the electrical grid … (5 comments)

mahtomedi mortgages: Foreclosure Moratorium Spurs New Interest In Short Sales - 02/03/09 03:41 AM
The national foreclosure moratorium imposed by Fannie Mae and Freddie Mac, major banks such as Citibank and Bank of America, and a host of state governments has created a "breather" for homeowners in default. By working with loan servicers, some homeowners will be able to modify their loan terms and stay in their homes. But many won't.
Not all borrowers will qualify for modified loans. Lenders are keenly aware of this, as well as the fact that foreclosing on a home is an expensive proposition: It can cost a bank $30,000 to $50,000 to foreclose on a home, plus carrying costs … (1 comments)

mahtomedi mortgages: Mortgage Rate "movers" today- 1/29/09 - 01/29/09 07:59 AM
Stocks, Treasuries, and Mortgage-Backed Securities(MBS) all showed significant losses today. Weaker than expected economic data was consistent with the decline in stocks, but Treasuries and MBS usually benefit from weak economic news. Bond markets continued to suffer for a second day after the Fed did not announce a definite plan to purchase Treasuries. December New Home Sales fell far more than expected to a record low level of 331K annual units. New Home Sales for 2008 dropped to the lowest level since 1982. The 5-yr Treasury auction received weaker than expected domestic demand, but foreign investors purchased a stronger than average … (0 comments)

mahtomedi mortgages: Mortgage Rate "movers" today- 1/28/09 - 01/28/09 07:40 AM
It was a volatile session in the Mortgage-Backed Securities market today. First favorable and later unfavorable repricing took place. MBS prices fell after the release of the Fed statement, and Treasuries dropped far more. Investors were hoping for more clarity on the circumstances which would cause the Fed to purchase Treasuries in addition to MBS. The Dow rose 200 points. Tomorrow, Durable Orders, Jobless Claims, and New Home Sales will be released. There will be a 5-yr Treasury auction at 1:00 et.As expected, the target for the Fed Funds rate remained unchanged, close to a level of zero. Heading into the … (0 comments)

mahtomedi mortgages: Stop the In"sue"anity!! - 01/27/09 01:16 AM
Saw a news item in the morning paper that just made me cringe...and had nothing to do with the housing industry, for a change!!!
A Wisconsin State Supreme Court ruling yesterday says that a former Cheerleader cannot sue another cheerleader who had dropped he during a 'stunt' in 2004.
I have a daughter who dances, and sometimes she falls during practice, or strains something during a dance. Would I even think of suing the instructor?????NO.
In this case, a female cheerleader was dropped & injured her head during warmups for a High-School basketball game. She sued the boy who had dropped her, … (8 comments)

mahtomedi mortgages: Mortgage Rate "movers" for the week ahead- 1/25/09 - 01/25/09 08:14 AM
The major highlight this week will be Wednesday's Fed meeting. With the fed funds rate close to zero, rate cuts may no longer be an option. The Fed has many other tools at its disposal, though, and the accompanying statement will be highly anticipated.
A wide range of other beconomic data will come out this week as well. Gross Domestic Product (GDP) for the fourth quarter will be released on Friday. GDP is the broadest measure of economic activity. Durable Orders, another important indicator of economic activity, is scheduled for Thursday. The Chicago PMI national manufacturing index will come out on Friday. Housing market … (2 comments)

mahtomedi mortgages: Fed Chief Bernanke wrestling with Mortgage Rates - 01/23/09 02:10 AM
This past week, Federal Reserve Chairman Ben Bernanke, publicly laid out an aggressive agenda for our central bank and suggested that he's hardly out of ammunition to fight the global financial crisis. He also gave explicit support to efforts by Congress and President-elect Barack Obama to create the largest short-term economic stimulus plan the nation's ever seen.
He cautioned, however, that any stimulus plan would be doomed if problems in the financial and credit markets aren't fixed. Bernanke outlined a number of steps that'll be taken this year to have the Fed purchase, as a buyer of last resort, the distressed assets … (2 comments)

mahtomedi mortgages: Low Rates Likely to Stay, But Cash-Out Refi's are still Elusive - 01/22/09 11:10 AM
To get us through the early part of this new year, let's get some perspective on what could be driving real estate matters in the weeks to come.
First off, it looks as if low fixed interest rates for mortgages-now around 5%-will be with us awhile. But rates could begin to rise if the stock market recovers. Investors who have flocked to the relative safety of Treasury bonds will shift their money to Wall Street if it seems profitable.
Treasury bonds today offer little or no return to investors, who would at least get a somewhat thicker mattress if they put … (1 comments)

mahtomedi mortgages: Feel the "change" Mortgage Rates?? - 01/22/09 03:52 AM
So, do you still feel 'change' coming today??? I ask that tongue-in-cheek because the only change that has been going on the past week is Mortgage Interest rates creeping upward about 3/8ths of a percent! I've gotten a lot of e-mails asking me "why", so I thought I would try and answer many of those questions in 1 blog entry!
In a nutshell, investors in Mortgage Bonds right now are scared. A few weeks ago, the Federal Reserve announced a plan to buy up Mortgage Bonds as a way to lower mortgage interest rates. Rates quickly did drop, as investors knew … (3 comments)

mahtomedi mortgages: What's in store for the housing industry now?? - 01/21/09 03:43 AM
Now that we have begun a new Presedential era and will embark on what could be the most expensive economic stimulus package in history, Americans will soon discover how unfolding events will affect the housing market. Last year was the nastiest housing market on record. Economists and industry experts expect another dismal year, marked by lackluster sales and falling prices as demand remains weak because of slumping consumer confidence, tighter lending standards and rising unemployment.
Also likely to impact the market: between $60 billion to $100 billion of ALT-A and Option ARM loans which will probably reset early because of falling home prices, … (2 comments)

Loren Johnson, CMPS

Loren Johnson


White Bear Lake, MN

More about me…

Address: 190 Hickory St., Mahtomedi, MN, 55115

Office: (651) 226-4363

Mobile: (651) 226-4363

Email Me

Thoughts about Mortgages, the Real Estate market, how customers should be treated, and mabye sports!



RSS 2.0 Feed for this blog