ga: Atlanta, GA Market Update - September 22, 2010 - 09/22/10 10:02 AM
Wednesday morning saw Mortgage Bonds open trading higher. This follows the gains from Tuesday afternoon's post Fed rally.  During the announcement, the Fed stated that it is “prepared to provide additional accommodation if needed to support economic recovery and to return inflation, over time, to levels consistent with its mandate.” It also kept its "extended period" language in place. 
The Fed's statement has led to a rally in the Mortgage Bond market.   There is now speculation that the Fed may be buying more Treasuries on a larger scale. This would be done in a effort to stimulate the markets.
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ga: Fannie Mae Updates Policy for Borrowers With a Previous Bankruptcy - 09/21/10 03:12 PM

 
Fannie Mae has updated its polices regarding new financing for borrowers with a previous bankruptcy.  The waiting period now ranges from 2 years from the discharge date of a Chapter 13 Bankruptcy to 5 years from the discharge or dismissal date for someone with multiple bankruptcy filings.
 
 
 
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ga: Atlanta, GA Market Update - September 21, 2010 - 09/21/10 05:09 AM
After Mortgage Bonds rallied yesterday afternoon, the gains continued this morning.  This is ahead of the Federal Open Market Committee rate policy decision.   It is set to be released at 2:15 pm EST.  Analysts anticipate both rates to remain unchanged. 
It was reported that housing starts rose 10.5% in August.  Last month, housing starts increased to an annual rate of 598,000.  This is up from a revised 541,000 and beat the expectations of 550,000.  Its also the best increase in four months. 
Building permits increased 1.8%.  This number was also beat analyst's expectations.  It follows a 4.1% unrevised drop in July. 
Mortgage rates are … (0 comments)

ga: Atlanta, GA Market Update - September 20, 2010 - 09/20/10 04:34 AM
The Mortgage Bond market opened this morning relatively unchanged from Friday's close.  Since there are no economic reports scheduled for release today, Mortgage Bonds will take direction from the Stock Market. 
The Wall Street Journal reports that IBM has announced it intent to buy software company Netezza for $1.7 Billion.  With the S&P 500 currently trading higher, this could place additional pressure on pushing mortgage rates higher. 
This morning, there was a weaker than expected outlook on home builder conditionsreport.    September saw the National Association of Home Builders/Wells Fargo housing market index unchanged at 13.  Analysts are predicted a 14.  A measure of <50 indicates … (0 comments)

ga: Buyer's Agents, Are You Tired of Unresponsive REO Listing Agents??? - 09/18/10 09:11 AM
Buyer's Agents, are you tired of REO Listing Agents not returning your phone calls and e-mails?????  If you are, then do you part to help out.  Learn more about REO's. 
REO Listing Agents get tons of phone calls on their listings.  In the first few days of a property being listed for sale or the days immediately after a price reduction, activity on the property is typically at its peak.  Just like you and I, they only have xxxx number of hours in the day.  Often times, they get more phone calls and emails that can realistically be responded to.  … (7 comments)

ga: Select Atlanta Area Museums to Offer FREE Admission on September 25 - 09/18/10 07:03 AM
Museum goers can visit select Atlanta area museums for FREE on Saturday, September 25th.  Ten Atlanta area museums will be participating in the Sixth Annual Smithsonian Museum Day.  
These metro Atlanta museums will duplicate the Smithsonian Institution’s free admission special for that day.  Next Saturday, select museums across the country will open their doors free of charge.  Visitors must download the Museum Day Ticket from www.smithsonian.com.
Museum visitors must present the official pass the gain free admission.   Each pass has a limit of two people, per email address and is only valid at participating museums and cultural venues. … (0 comments)

ga: Atlanta, GA Market Update - September 17, 2010 - 09/17/10 02:35 PM
Mortgage Bonds opened in positive territory this morning.  This comes after the Labor Department announced that the Consumer Price Index (CPI) came in near expectations with an increase of 0.3%.  July experienced a similar increase.  The CPI is gauge used to measure inflation. Excluding volatile food and energy prices, the core rate was unchanged.  This is slightly lower than the increase of 0.1% that economists had predicted.  This reading helped to reinforce the Fed' claim that inflation remains under control. 
 
The University of Michigan consumer sentiment index declined to 66.6 in September.  This reading is down from 68.9 in August.  It is also worse … (0 comments)

ga: Atlanta, GA Market Update - September 16, 2010 - 09/16/10 01:33 PM
Once again, Mortgage Bonds opened lower this morning.  This comes after a rough afternoon of trading yesterday which results in a worsening of mortgage rates late in the day.  Today's economic news is mixed bag. 
The Initial Claims were lower than expectations.  The inflation at the wholesale level in the form of the Producer price Index was slightly better than anticipated.  In the week ending September 11, jobless claims fell from 453,000 to 450,00.  This beat the expectations of 460,000.  
For the second month in a row, the Philadelphia Fed Index of manufacturing came in negative.  It did … (0 comments)

ga: Atlanta, GA Market Update - September 15, 2010 - 09/16/10 05:33 AM
Mortgage Bonds opened lower on Wednesday morning.  This comes after less than stellar manufacturing data was released.  New York 's Empire Manufacturing Index dropped to 4.1 in September.  This is down significantly from the August's 7.1 reading.  Analysts has only predicted a decline of 6.4.   
August saw industrial production rose slightly to 0.2%.  This is 0.1% less than the 0.3% reading that was anticipated.  July's number was a revised 0.6%. 
Mortgage Bonds continue to be pressure by the Stock market. 
 
 
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ga: Freddie Mac Adds First Look Initiative to It's HomeSteps REO Properties - 09/15/10 06:19 AM
The Freddie Mac First Look Initiative now gives home buyers 15 days of exclusive access to buy a HomeSteps property as their primary residence.  Freddie Mac announced today that it is expanding the Freddie Mac First Look Initiative on its HomeSteps listings.  The First Look Initiative goes into effect on September 17, 2010.  According to Chris Bowden, Vice President, HomeSteps,  "Expanding the Freddie Mac First Look Initiative emphasizes Freddie Mac's commitment to manage its REO inventory to help stabilize communities, foster affordable homeownership opportunities, and responsibly safeguard tax dollars." What is HomeSteps? HomeSteps is the national real estate sales unit of … (4 comments)

ga: Atlanta, GA Market Update - September 14, 2010 - 09/14/10 05:33 AM
The momentum gained from yesterday's rally also carries through to today.  Treasuries and mortgage bonds once again opened to high levels.  This rally comes as economic growth is still of concern. 
Economic data this morning revealed better than expected results.  Retails sales increased .04% in August.  This follows a downwardly revised 0.3% increase in July.  It is also slightly better than the previously forecasted 0.3% increase.  It is the highest reading in the last five months. Since the August 2009 reading was higher, this shows that the economy has slowed.
July saw business inventories increase by 1%.  This is up 0.3% over the … (4 comments)

ga: Atlanta, GA Market Update - September 13, 2010 - 09/13/10 07:12 AM

Following a tough week for Mortgage Bonds last week, they have regained some lost ground today.  This is all while the stocks are trading higher.  This also comes after the European Commission increased their outlook for this year's growth from 0.9% to 1.7%.
Also calming fears, the Basel Committee increased it's capital standards from 2% to 4.5%.  Banks have been given until 2015 to reach the new standards. Domestically, there is little market news today. 
 
 
Tomorrow, we will see Retail saels numbers released.  Industrial Production & Capacity Utilization will be released on Wednesday.  With little new economic news today, … (0 comments)

ga: Tyler Perry Auctions Contents of Atlanta Home - 09/12/10 12:12 PM
On September 12, 2010, Tyler Perry is set to auction off the contents of one of his recent real estate purchases.  Perry is the newest owner of Dean Gardens, the 58-acre estate located on Old Alabama Rd in Johns Creek.
The $7.6 million sale was completed in late July, although Perry was not identified as the buyer until a few weeks later.  The current home took over 4 years to build and has been on and off of the market for the last 15 years.  Reports are that the current 32,000 square foot home will be torn down for Perry … (0 comments)

ga: Atlanta Population Increased 29% in Last 9 Years - 09/11/10 03:51 PM
According to revised population figures released yesterday by the US Census Bureau, Atlanta had the 8th largest population increase in the country.  This ranking is for communities who added at least 100,000 residents during the 9 year period of 2000-2009.  
The city of Atlanta added 122,009 residents.  This is a 29.% increase which brings the city a population of 540,922.  Atlanta now ranks as 33rd among 19,507 cities.   Metropolitan Atlanta population numbers place the area in the top 10 for the country.  
 
Selected Georgia Cities Adding Residents:
City                            Population (2009)   Increase       Percentage
Newnan                               31,587          15,311          94.07%
Canton                                23,073          … (7 comments)

ga: Atlanta, GA Market Update - September 10, 2010 - 09/10/10 02:32 PM

Once again, economic optimism has driven stocks higher this morning.  This rally comes after the Wholesale Inventories report improves the most in two years. 
According to the Commerce Department, wholesale inventories jumped 1.6% in July.  This is much better than the 0.4% increase that had been expected.  Treasuries and mortgage bonds are once again suffering for the sixth out of the last seen trading days.  
St. Louis Federal Reserve Bank President, James "Raging" Bullard stated that he sees a slowdown in the economy for the second half of this year.  He does though predict a pickup in 2011. He added that the … (0 comments)

ga: Atlanta, GA Market Update - September 9, 2010 - 09/09/10 04:37 AM
Mortgage bonds are once again under pressure this morning.  This time, it is due to a better than expected Initial Jobless Claims report.  For the week ending September 4, the initial jobless claims fell to 451,000.  This is down 27,000 from 478,000.  The reading is also considerably lower than the 470,000 that economists had previously predicted. 
A report showing a narrower than expected trade deficit has also led to the sell-off.  This economic news has the stock market up today.  At 1:00 pm EST today, the Treasure will sell $13 billion in 30 Yr Bonds. 


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ga: Atlanta, GA Market Update - September 8, 2010 - 09/08/10 07:21 AM


Volatility in the market continues throughout today.  The market opened with stocks moving higher while mortgage bonds gave back most of the gains from yesterday afternoon.  This comes after a successful debt offering in Portugal which has help calm some of the fear surrounding the European debt issues.
There were no economic reports released today. 
At 1:00 pm EST, there will be an auction for a $21 billion 1-Yr Note offering.  An hour later, at 2:00 pm EST, the Federal Reserve will release its Beige Book.  This will offer more details on economic conditions as complied by the 12 regional district of the … (4 comments)

ga: Atlanta, GA Market Update - September 7, 2010 - 09/07/10 02:17 PM
After last week losses, mortgage bonds got off to a good start this morning.  There is renewed concern regarding the European debt crisis.  Yesterday, the Federal Association of German Banks said that after the recent stress tests, the country's 10 biggest banks might need as much as 105 billion euros in capital to meet new standards. 
All of this has led to an improvement in mortgage rates today.
This will be a light week when it comes to reports.  There will be several Treasury auctions this week.  This includes one at 1 pm today for $33B in 3 -Year T Notes.  Tomorrow, … (2 comments)

ga: Atlanta, GA Market Update - Week Ahead - 09/06/10 04:20 PM
With Monday being Labor Day, there will be a short work week ahead.  There will be very few financial reports released.
Wednesday - 10:30 am - Crude Inventories
Wednesday - 2:00 pm - Beige Book
Thursday - 8:30 am - Jobless Claims (Initial)
Thursday - 8:30 am - Balance of Trade
 
Mortgage rates did suffer last week.  With a light week ahead for reports, mortgage bonds will take direction from the stock market.
 
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ga: The Launch of Publix Curbside Service - Toco Hills - 09/05/10 05:52 PM
Publix announces the launching of its new Publix Curbside service.   This service debuts at the Toco Hills location in Atlanta, GA.  Publix Curbside will also be launching in Tampa, FL soon. "How does it work? Just click on your location below to shop online at your convenience. Our easy-to-use site lets you select products from that store—and even honors sales prices and special deals offered in our weekly ad. Like your Deli meat, produce, or other items a certain way? Make a note! Our specially trained Curbside associates will put your entire order together, taking care to do just as … (1 comments)