Economic Calendar: What May Move Mortgage Rates this week 8/31/2009 - 08/31/09 04:05 PM
 This weeks Mortgage Rate Movers
Lets re-cap last week before we dig into this week: Mostly because it was a great one for interest rates. Even with some mixed signals we squeaked out a 15/32nd gain on Fannies last week which translates into a nice improvement on a rate sheet. This came together even with better than expected home sales numbers and a 2 yr auction that had higher yields than anticipated. So Score one for the credit markets!
That's enough of the old, How about the new: Well this weeks numbers start a new month of data (hard to believe … (3 comments)

Jackson NJ: Project Porchlight this weekend. - 08/28/09 10:06 AM
 Project PorchLight
 If you Live in Jackson, Don't be afraid of a knock on your door this weekend, it man not be a Door to Door sales person It could be a volunteer handing out a free light bulb.
Project PorchLight is a National program with a goal to teach energy conservation.
In NJ: The sponsor is The NJ Clean Energy Program and the state Board of Public Utilities
Volunteers will be handing out Compact Fluorescent Light bulbs. These bulbs use about 75% less energy than a traditional bulb, and they last much longer. Jackson's Mayor, Mike Reina, says their plan … (1 comments)

International rock star to Visit Ocean County Library, Toms River NJ - 08/27/09 05:17 PM
  
International rock star at Toms River library  TOMS RIVER -   Alternative rock star Sarah Bettens will perform a free concert at the Toms River branch of the Ocean County Library (101 Washington Street) Saturday Sept. 12 at 2 p.m.
Bettens first earned recognition as the lead singer of K's Choice.  The group, originally from Belgium, earned gold and platinum records in Europe.  Their international hits include "Not An Addict," "Believe," and "Almost Happy."  She breaks new ground with her latest CD, "Never Say Goodbye," the first international release from her own label, Cocoon Records.  What:International rock star Sarah Bettens to … (10 comments)

Ocean County Library: Services available for the homebound - 08/26/09 02:10 PM
 Library services available for the homebound
TOMS RIVER - Homebound Ocean County residents can borrow from the rich collection of the Ocean County Library and have those materials delivered to their home free of charge through the library's Home Borrowers Service.
The service is available to Ocean County residents who are permanently or temporarily disabled or who lack transportation. A medical note is not required.
To enroll in the service the homebound person simply calls his or her local branch or the Homebound & Volunteer Services Department (732) 349-6200, ext. 5530.  The staff will make note of the customer's reading preferences … (3 comments)

Vintage Auto Night at Ocean County Mall, Wednesday August 26 - 08/25/09 10:19 AM
 
 There is something about an old car... The Art, The Nostalgia, The Dreams... I have a 40+ year old convertible sitting in pieces in my garage... Next good market I promise I will get it on the road!
This Wednesday you have the opportunity to see some oldies:
WHAT: The Ocean County Mall Cruise Night WHEN: Wednesday August 26 from 6-9pm WHERE: The Ocean County Mall at the corner or Hooper and Bay Ave Toms River, NJ SPONSOR: Vintage Auto Museum of NJ, Vintage Auto Club of Ocean County and the Mall INFO: www.vintageautomuseum.org ADDITIONAL: DJ Entertainment and Mall Discounts … (5 comments)

September 11 is only a few weeks away: Fly Your Flag! - 08/24/09 03:57 PM
 I am sure that we all remember EXACTLY where we were on 9/11. I know I was just outside of DC in a meeting that never happened and spent a hellish ride home not knowing anything.  First thing I did when I got home was put out a flag, I don't even know why, and I never understood the patriotism that caused so many to enlist in the military after 12/7/1941 until that day.
I received a "chain" email reminding everyone to fly the American flag on September 11th and to tell 11 friends to do the same.

So this is my … (17 comments)

Economic Calendar: What may move Mortgage Rates this week 8/24/09 - 08/24/09 11:58 AM
Mortgage Interest Rates, and the events on the calendar that may move them
This week has a little bit of everything to keep the markets entertained: From Auctions to they typical monthly data keeping things moving.
Last week ended up a mixed bag with some nice UP days and some not so nice DOWN days, by the end of the week we only lost 1/32nd in the price of Fannies close enough to "Unchanged" that from Friday to Friday there was not much to worry about. This week is a tough one to call, but I expect more of the same … (4 comments)

Stupid News Paper Quotes - 08/22/09 01:25 PM
 
Hot off the presses on the front page of today's Paper I found this Gem:
NJ Faces Unknown Foe in Swine Flu's Spread "It could turn out to be more severe, less severe, or disappear completely. No one knows"  This guy is brilliant in a short bus sort of way. He certainly covered all the bases.  My Question: Is this really news? It definitely may or may not be news at all. IMHO! I am so glad that I got up this morning to a water logged paper to spend my "coffee Moments" with such brilliance.  Now can some one … (20 comments)

Only 101 Days left to put $8,000 in your pocket! - 08/21/09 02:13 PM
 
I just received a news flash from NJAR with a reminder that there are only 101 days left to take advantage of the first time buyer Tax Credit.
Here is what it said:
The Clock Is Ticking - Encourage First-Time Buyers to Act Now
As of today, there are only 101 days left for first-time buyers to qualify for the $8,000 federal first-time home buyer tax credit. In order to qualify, the transaction must close before 11:59 p.m. on November 30, 2009. The Get the REAL Story® public education campaign is encouraging prospective buyers to maximize their purchasing power in this … (8 comments)

Toms River NJ: Cattus Island Park, pictures and Trail Map - 08/21/09 01:27 PM
 Cattus Island Park
 Looking for something to do this weekend?
Take A hike Walk the Dog Get your feet wet in the Barnegat bay Visit the nature Center See a Butterfly Garden See some wild life have a picnic ? Cattus Island is just the Ticket.
I have been visiting Cattus Island off and on for years now, it is a great spot all times of the year to take the dog for a walk, get the kids out in the fresh air and see some wild life. The last two weekends I took my Dog for a walk and a … (3 comments)

Interest Rate History for 20 years and 200 years, pretty color charts and all. - 08/18/09 09:59 AM
 
Below are 2 charts showing a LONG history of interest rates. 
The most recent history shows the past 20 years with an average interest rate on a 30 year fixed of 7.47%. The average over the past 40 years is 9.47%. The second chart is the 200 year history of Long-Term US Government securities,(prior to 40 years ago there was no consistent means of tracking Mortgage rates since there was no trading of MBS. The only true interest rate data available is from Uncle Sam.) These charts pretty clearly show how good we have it right now and what a great … (10 comments)

Economic Calendar: What may move Mortgage Rates this week 8/17/09 - 08/17/09 02:02 PM
 
 First lets take a quick look at last week: Last week ended up being a GREAT week for mortgages with only 1 negative day, but overall a gain of 25/32nds in price in Fannie 30years. That translates into a nice improvement on rate sheets!  What is amazing about this is we had enough negative news that had the potential to raise rates. The 10 year auction did not go well, and the Fed said they would stop buying Treasuries at the end of September... Both BAD news for the credit markets. Yet the market shrugged off the bad news and … (4 comments)

Wordless Wednesday: Dog Beach Day - 08/12/09 11:37 AM
 

Have a great week.
Rob
Robert Rauf
Mortgage Banker
www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf
(732)223-1630 x102
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network

 
 
 
 NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey
… (10 comments)

Economic Calendar: Whats going on with Mortgage rates this week? 8/10/2009 - 08/10/09 11:54 AM
 Last week was not a friendly one for interest rates. Every day last week was a loss for the market all together Fannie 30 yrs lost 40/32nds by the end of the week which is pretty ugly on a rate sheet.  There was a bright spot. On Friday the employment data came out much better than expected and we saw a big sell off that approached a full point, by the end of the day the market clawed its way back up the hill with a loss of only 7/32nds, if it did not we would have lost MUCH more! 
This … (6 comments)

Friday's employment rate released, Better than expected - 08/07/09 08:39 AM
 
 With a stronger than expected employment report, what happens to rates?
July employment report with Non farm payroll was expected -340,000, Jobless rate up to 9.7% and average hourly earnings +0.1%. was released at 8:30am and it was much stronger than expected with only 247,000 jobs lost and the actually jobless rate dropped to 9.4%. (did I really just type "only 247k jobs lost?)
The knee jerk reaction in the Mortgage Backed Securities market was a quick sell off, ahead of the report the market opened slightly positive at +1/32 and immediately following was off over 20/32nds and was fast approaching 30/32nds when … (5 comments)

Mortgage Rates and The Biggie of the Week to watch Friday Morning. - 08/06/09 07:37 PM
 
 Well, the Biggie of the week is only 12 hours away, 8:30 AM the employment data is release for an anxious market, over all this week has been a slightly negative one for interest rates with a few surprises and a lot of anxiety awaiting tomorrow's report.
So, Fasten your seat belts tightly and hold on, tomorrow could be a bumpy ride. 
Here is what was forecast:
Friday August 7: July employment report with Non farm payroll expected -340,000, Jobless rate up to 9.7% and average hourly earnings +0.1%. As forecast, we will have steady rates, it is the deviations … (4 comments)

OCEAN COUNTY BOARD of REALTORS: End of summer bash - 08/05/09 02:57 PM
 
 OK, I already gave them crap about the date and the title, because August 13th is HARDLY the end of summer. Either way, this was a great event last year, and I was the one that pulled that ticket out of the hat, (YOU ARE WELCOME BONNIE) I hope I win this year!  So if you were considering this, MAKE IT SO, Call the board office and reserve your spot!  it is a cheap night out with your peers.
The OCBR Community Service Committee, through the OCBR Charitable Foundation, is holding a 50/50 Cash Raffle to benefit its "Charity of … (3 comments)

Economic Calendar and What will move Mortgage Rates August 3, 2009 - 08/03/09 05:38 PM
 
I spent the better part of today working on getting a difficult deal worked out, PRIOR to taking the application. I will never just toss something against the wall... Multiple jobs, just out of school, dealing with all part time income and high ratios all makes for a mess if not handled correctly! So sorry this is late, but glad we have a happy first time buyer!
 
This week started off BAD, More to follow on that.  It doesn't look like that busy of a week, but there are a few very important numbers being released this week that … (3 comments)

 
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Robert Rauf

Toms River, NJ

More about me…

REMN - Real Estate Mortgage Network (NJ)

Address: 16 Madison Ave, Building 2 Suite 2D, Toms River, NJ , 08753

Office Phone: (732) 557-6920 x 102

Cell Phone: (732) 740-0175

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The mortgage market is ever changing, do not be afraid to ask what is new!


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