Robert's Blog

Mortgage Rates: When Good News is Bad News

Robert Rauf (REMN The Real Estate Mortgage Network) — Fri, 04 Dec 2009 14:41:53 -0600

Bad week for rates.

This morning the Employment report came in much better than anticipated and there were revisions to previous reports that in effect show the jobless report is not as bad as originally thought.

Today the market was expecting a report that would show a loss of 130,000 jobs and a 10.2% Unemployment rate. The actual number was 10% with only 11,000 jobs lost for the month.

This causes a sell off in the credit markets that drive the price down and the yield up.

So this week has been a bad week for interest rates. Just yesterday the reports in the news show "LOWEST RATES EVER" Well Folks, that was so last week! Almost every day this week we have had rates getting worse. Rates are still great, but just not as good as last week.

Have a great week End.

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

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Wordless Wednesday: Tiger

Robert Rauf (REMN The Real Estate Mortgage Network) — Wed, 02 Dec 2009 10:44:46 -0600

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

Mortgage rates and what will move them this week. Economic Forecast For the week of 11/30/09

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 30 Nov 2009 16:43:50 -0600

Well, Last week ended up being much better than I thought it would be. Traditionally we get a bit of a smack on holiday extended weekends, but this time we have to thank Dubai for tossing enough insecurity into the markets to cause a flight to quality that pumped a few extra dollars into our credit markets. By weeks end we had one of the more positive weeks we have seen in a few months. Can you say "Global Economy"? Dubai??? That crazy rich little country that builds its own Islands.... That's the place. They took a trip to a neighbor to borrow a few bucks so they could pay their bills and now the market has something else to worry about.

This week starts a new month of data for the markets to chew on, along with the world hic-ups to digest. Here is the calendar:

Monday November 30: a no news day with a slightly positive mortgage market.
Tuesday December 1: Where did 2009 go?
Tuesday: November institute of Supply Mgt (mfg) expected 55.0 vs last month 55.7. The decline is likely due to the Auto industry and it is not likely to move the market.
Wednesday December 2: Fed Beige Book Released. This "book" compiles the 12 districts which are expected to show some recovery, but no new News. The fact is that employment is still ugly and it is not likely there will be any shockers here to move the market.
Thursday December 3: Third quarter productivity and unit labor costs (revised) expected +8.6% and -4.2%. The productivity number is down from last month, that combined with labor costs up a bit from last month is a sparkle of light at the end of the tunnel. Will businesses start to hire now? it may be a bit of good news that might make the markets think twice about rates.
Thursday: Initial jobless claims expected up 14,000. Just a quick side note to this Non event of a number. the week of Thanksgiving has seen initial jobless claims rise in 7 of the past 10 years. what a great week to get a pink slip???
Thursday: November institute of supply Mgt (service sector) expected 51.5 vs 50.6. The bump up from last month was anticipated and as forecast is not likely to move the mortgage world. It would probably take a number below 50 to see a noticeable move down in rates.
Thursday: Senate Banking committee's Hearing ot nominate Bernake to a second term. It is expected that some blame will be tossed at Ben. Typical of politicians to pass the buck along with the blame to make themselves feel better (and more "elect-able" perhaps?) It may make for some interesting viewing but not likely to move the market.
Friday December 4: Employment report with Non farm payroll expected at -130,000 and the jobless rate at 10.2%. If we see 10.3 and -150k we will see improvement in rates, Lets hope we don't see the jobs market any worse than it is already, I would rather see higher rates and a strong jobs market, isn't that better for everyone?

Well That's the calendar, heavily weighted on Thursday's side, but the biggie is most likely Fridays Employment report (from a numbers perspective at least). It is expected that foreign funds will continue to seek shelter in our markets, especially in the credit markets. This flight to quality is helpful to keeping rates steady to possibly move them lower. If things in Dubai shake out to be nothing scary and the world is not scared about the next melt down we may see funds flow back out and that could bring rates back up. Remember that good news is bad news in the interest rate world.

Expect a choppy week. and after 5 straight weeks of improving rates I doubt we will see too much more improvement since we are so darn low already!

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

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Mortgage Rates For the week of November 23rd: Economic Calendar

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 23 Nov 2009 16:56:39 -0600

Happy Turkey Week!

Last week ended up being another positive one with Fannies ending up 6/32nds better than the previous week. If you are keeping track, that makes 4 positive weeks in a row bringing us back close to the Low LOWS we saw last spring. This is a short week which has some issues in itself that can cause a bump in the road that can move rates.

Here is this weeks News worthy events:

Monday November 23: October existing home sales were expected to be up 1.4% but ended up being UP over 10%. This should have been bad news for rates but ended up being a neutral event. My guess is that much of the increase was due to the pent up demand and people rushing to make the 11/30 deadline for the First time buyer credit.
Monday: First auction of the week with the Treasury auctioning off $44 Billion in 2 year notes. This auction went off well and we closed with a modest gain of 7/32nds for the day (on Fannies)
TuesdayNovember 24th: First revision of third Quarter GDP estimated at +3.0%. While this sounds like a strong number it really isn't scary since much of the increase is due to replacing inventory used up the first half of the year. It isn't likely we will see much help in the interest rate environment unless we see the number be significantly weaker (below 2.5%). As forecast it will be a non event.
Tuesday: Auction Number two of the week wit $42 Billion in 5 year notes. Hopefully this auction will be well bid. My concern of an auction this week is the participation as we get closer to the holiday. If traders are off early on their way to turkey dinner it could cause a poorly bid auction that will be bad news for interest rates.
Tuesday: Minutes of the November 3-4th Fed Meeting. It is highly unlikely that the fed will reveal a smoking gun here. The economy is just too fragile for the Fed to be hinting at any removal of stimulus money or raising rates. I expect this to be a non event.
WednesdayNovember 25: October Personal Income expected +0.2% Spending +0.5% and PCE index expected +0.1%. As forecast none of these will move the market. The PCE is the most important of the bunch, a surprise here could move the market one way or another.
Wednesday: October Durable goods expected +0.5%. If this comes in stronger (unlikely) we may see rates creep up on the news.
Wednesday: Initial jobless claims (typically a Thursday number) expected down 5,000. zzzzzzz
WednesdayNovember 25. October new home sales expected +1.9%. at these levels we shouldn't see any move in rates today.
Wednesday: at 1pm $32 billion in 7 year notes to be auctioned off. WHAT THE HECK was the Treasury thinking scheduling an auction just hours before we OD on Turkey? My fear is that this is so close to the holiday that many traders will be gone already. We have a full day of trading today instead of the usual 2pm close. This is a scary one, let's hope it is well bid.
Thursday November 26: Happy Thanksgiving! I hope everyone has a lot to be thankful for! The market is closed.
Friday November 27: No news today, the market will be closing at 2pm.

Well I said it above - Wednesday is the "hold onto your hat" day. typically the markets trade pretty conservatively going into a holiday weekend, and toss into that mix a busy day of data and an extra couple of billion in supply - leaves me scratching my head thinking they are crazy and did not plan this month well (from an auction standpoint at least.

Keep your fingers crossed, I think everything will revolve around the auctions and the level of participation in a holiday shortened week. we will probablyend up with a fairly flat week by time the dust settles and we digest turkey.

Happy Turkey Day - Enjoy your Triptophan induced coma.

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

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Mortgage Rates: What's on this weeks calendar that May move them November 16, 2009

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 16 Nov 2009 16:30:10 -0600

Last week ended up on the positive side with a gain of 12/32nds on 30 year Fannies which is a noticeable change on a rate sheet. That makes 3 positive weeks in a row. Over all we have been in a tight range all year with hic ups along the way. I expect more of the same in the near term as Uncle Sam will continue to buy mortgages as necessary to calm the market down. So far Uncle Sam has purchased over $800 Billion in Mortgage backed securities and that number is expected to rise to $1 Trillion by time they step out of the mortgage market in early 2010. This buying has been the Fed's way of keeping rates low since they have no way of dropping Fed funds any lower. It is not likely we will see the Fed even consider an upward move in rates until the end of the 2nd quarter of 2010, at least that's what the financial wizards are saying this week.

This is a busy week of financial calendar, here is what to look out for:

MondayNovember 16: October retail sales expected +0.9% ex auto +0.4%. This number pretty much came out in line with expectations and over all the market had a nice gain for the day
TuesdayNovember 17: October PPI expected +0.5% with a core of +0.1%. The UP piece of this number is clear to any of us filling up our gas tank. Energy and food prices are up ... but the core rate is staying subdued which the market should like if things come in as forecast.
Tuesday: October Industrial Production and Capacity Utilization expected +0.4% and 70.8. It appears that manufacturing is up a bit but the capacity is still low enough to keep prices from climbing. As capacity increases you can expect prices to climb which is the typical supply and demandequation. As this stands it is not likely to move the market.
Wednesday November 18: October CPI expected +0.2% with a core of +0.1%. if the core stays at or below 0.2% it is a good news scenario for mortgage rates
Wednesday: October Housing starts and Building permits Up 1.7% and up 0.9%. It continues to look like new construction has hit bottom.. it will take a few more positive months to prove this to the market before it exerts any pressure on the mortgage world.
ThursdayNovember 19: Initial jobless claims expected up 3,000. I don't think that I have ever seen Thursday's number move the market. But it is always on the calendar! UE remains high and it is a lagging indicator, it will take some time before companies are secure enough to hire.
Thursday: October LEI expected +0.4%. This is a step down from last month. LEI is a very forward looking number and the dip down is supportive of steady to lower rates.
Friday: No news to worry about.

The biggie of the week is a coin toss, it could have been retail sales, that ended up being a good number for the credit markets. There are a lot of inflation pieces in CPI PPI and LEI which have the potential to push rates one way or another if there is a shocker. It would take a significant deviation in the real number vs the forecast number to have any significant effect on rates. I think we will need to look mostly to the stock market for direction. If stocks have a strong week it can be bad news for mortgage rates. So far I think it would be safe to say we may see a slight improvement by weeks end... Time will tell if my crystal ball is clear or not!

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

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Mortgage Rates and what might move them: This weeks Economic Calendar November 9, 2009

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 09 Nov 2009 14:00:23 -0600

Last week ended up being a pretty flat week with a few bounces along the way. The highlight of the week was Fridays Employment report that was quite a bit worse than expected. It did not cause a big improvement as one would have thought, it really only served to wipe out losses from earlier in the week and for the week we were only 3/32nds to the positive side on Fannies which is pretty much an unchanged week.

This week has its bumps and grinds to deal with as well, here is what we have in store:

Monday November 9: First Treasury Auction of the week with $40 Billion in 3 year notes. This Auction went off as expected at about 1pm with strong bidding. It ended up being a market neutral event and Fannies are trading slightly to the positive side.
TuesdayNovember 10: Auction #2 with $25 Billion in 10 year notes. Keep your fingers crossed and hope this one is well bid. It is expected to be well bid, and if so it will be more of a "non event" in the mortgage world. If it is not well bid we may see a ripple effect sell off in mortgages that will not be good news for mortgage rates.
Wednesday, November 11: Happy Veterans Day. The market is closed for Veterans day.
Thursday, November 12: Initial Jobless claims expected down 2,000. Not likely to be a market mover.
Thursday: Auction number 3 with $16 Billion of 30 year bonds. The bidding here will be a sign of how the investment community sees the economy. If they see things as "the worst is behind us" they will demand a higher yield. If they see things staying weak, it should be well bid. This one is entirely up in the air. If well bid it will be a neutral event, if poorly bid it is likely that mortgage rates will climb.
Friday: nothing exciting to report on.

Well this week is obviously being lead by the Treasury. I think the Mortgage market will also look toward the stock market for direction. Good days for stocks usually end up being bad ones for mortgages as the credit markets thrive on bad news. The concern with the auction is the Fed's $300billion check book is closed and it is not likely that the Fed will be buying Treasuries anymore. For most of the year the Fed has helped to keep rates low by being one of the "investors" buying up Treasuries and Mortgages... so lets hope for strong market participation, that would be the best news for the interest rate world. My gut feeling is we will see a bumpy but fairly flat week by time the dust settles.

Thats my 2 cents worth: 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

What's Happening with Mortgage Rates? This weeks Economic Calendar

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 02 Nov 2009 16:59:13 -0600

Last week had its share of fairly large up and downs, but ultimately we ended up with a pretty decent gain for the week with Fannies trading up 19/32nds by the close on Friday... That translates to a noticeable improvement in Mortgage rates last week (but some bumps and bruises along the way) Most of the improvement in Mortgages was due to the sell off in the stock market.

Well this week has its share of challenges. Here is this weeks calendar:

MondayNovember 2: (can you believe it is November already??) October Institute of Supply Mgt was expected at 53.0. Well we lost about 7/32nds today. which is not a good way to start the week!
Tuesday November 3: DON'T FORGET TO VOTE!
Tuesday: September Factory Orders expected up 1%. Not likely to do much more than take up space on this page.
Tuesday: First day of the Fed Meeting.
WednesdayNovember 4: October Institute of Supply Mgt Supply index expected 51.8. If this comes in near expectations it is not likely to move rates. If it pops higher than 52, we most likely will see rates bump up a bit.
Wednesday: Fed meeting over at 2:15. No one expects the Fed to change rates... The analysts will certainly read every word of the post meeting statement for hints at what is coming. This is most likely a non event unless we are surprised by an exceptionally weak or strong view of the economy. Facts are the economy is slowly improving. The question is: "how fast?" and will the Fed move sooner than anticipated.
ThursdayNov 5: Initial Jobless claims expected down 6,000. Zzzzzz look at Friday. This is just a shadow in comparison to Friday's number.
Thursday: Third Quarter Productivity expected +5.5% and Unit Labor costs -4.5%. Productivity up and costs down... No fear of inflation in this report! But unfortunately not enough to move interest rates down.
Friday November 6. October Non farm Payroll expected -175,000 and Jobless rate 9.9% and an average 33.1 hour work week. The Jobless rate is up, but the non farm number has been improving based on the beginning of the year. It is not likely we will see a bump up in rates with out a 9.7% jobless rate and 150k job loss. As forecast this is not likely to do much more than be supportive of steady interest rates.
Friday: September Wholesale Inventories expected -1%. Even with this being an old number it will be looked at to see if there is any demand in wholesalers rebuilding inventory. This is most likely going to swept under the rug since it comes out right after the employment report.

The biggie of the week is hands down Friday's employment report. Leading into Friday's report we are most likely going to see stock market fluctuations be the driving force in the credit markets this week. If we have improvement in stocks we will lose some ground in the credit markets.

That's this weeks movers and shakers, 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

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Laugh Out LOUD Friday: Happy Halloween, a few jokes you can share with your kids.

Robert Rauf (REMN The Real Estate Mortgage Network) — Fri, 30 Oct 2009 11:35:38 -0500

How do you fix a broken Jack-O-Lantern?
- With a Pumpkin patch of course.

Why Don't Mummies go on vacation?
- They are afraid they will relax and unwind.

Why Didn't the Skeleton dance at the party?
- He had no body to dance with

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

5 steps to protect yourself on Facebook

Robert Rauf (REMN The Real Estate Mortgage Network) — Tue, 27 Oct 2009 13:42:31 -0500

Facebook is the world's largest social network. Disregarding this, people share all kinds of information on Facebook without thinking about who's seeing it or what effect their comments and pictures might have on them in the future. One study revealed 30% of employers use Facebook to vet job applicants. Those goofy party pics could cost you more than your dignity! So what can you do to protect your privacy on Facebook? The site itself offers lots of privacy controls and security features. Here are five steps to take to activate them:

1. Create Friend Lists Make a Work list for business, an Acquaintances list, and a Family list for relatives and close friends. Click Friends on the Facebook homepage; click Friends under Lists, then Create New List, and type in your members.

2. Set Up Who Sees What on Your Profile Mouse over Settings on the Facebook homepage and click Privacy Settings. Click Profile Privacy. Beneath each section -- basic info, personal info, status, etc. -- specify who gets to see it. This is where Friend lists come in handy. Enter Only Friends to block out the rest of the world (like employers). Edit Custom Settings lets you block specific people or lists.

3. Restrict Access to Your Address and Phone Number As above, go from Settings to Privacy Settings to the Profile Privacy page. Click Contact Information tab at the top. Use the drop-down lists to determine who sees or doesn't see things like IM Screen Name, Mobile Phone, Other Phone, Current Address, Website, or Email.

4. Set Up Who Can Find You on a Facebook Search This stops all those friend requests from old buddies. Click on Settings, then Search, which takes you to Search Privacy, where you can specify who can find you. Under Search Visibility you can choose Everyone, My Networks and Friends, Friends of Friends, or My Networks and Friends of Friends. To keep strangers from finding you, choose Only Friends. You can also specify what info displays in your search result...profile picture, friend list, etc.

5. Block Personal Info from Unknown Applications Without knowing it, you could be sharing personal information with various Facebook applications and their developers. To block them, mouse over Settings, choose Privacy Settings, click Applications, then click the Settings tab next to the Overview tab. Check and uncheck boxes next to your personal info -- picture, education, religious views, etc. This determines what your friends' applications can see about you.

This is not a complete guide to privacy and security on Facebook. But these five steps will start to create a more private and secure environment for yourself and your family on this huge social network. Better to be safe than sorry!

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

Weekly Mortgage Calendar: Economic Forecast and what may move rates this week

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 26 Oct 2009 14:08:39 -0500

The last 3 weeks have not been good ones for the Mortgage world. Last week was a crazy up and down week that ended up only slightly negative by the close on Friday, but bumpy enough along the way that it left many feeling queasy. almost every day last week had some VERRRRY negative moments but the market was able to come back to almost even each day.

The initial sell off a few weeks ago that has rates up now was mostly because of stocks jumping above the 10k mark. This piece of positive news was not taken well in the credit markets. and if you read any of my blogs on the subject, you will know that Good News is BAD news for interest rates.

This weeks calendar is a busy one:

MondayOctober 26: Treasury auction of $7Billion 5 year IIS. This is an inflation indexed security so it is typically well accepted. Ahead of the auction the market was not doing well, but it regained some of its ground since it started.
TuesdayOctober 27: October Consumer Confidence expected 53.5. It really doesn't matter what consumers think. What matters most is what they are actually doing. So this number is not expected to move things in the market. You can feel bad, but still spend money!
Tuesday: Second auction of the week with $44Billion in 2 year notes. The shorter term notes have been fairly well received, and this one is likely to draw decent bidding from foreign and domestic investors. Not likely to move things today.
WednesdayOctober 28: September Durable Goods Orders expected +1% ex auto +0.7%. There have been surveys that may point towards a surprise in factory activity. If we get surprised with a number stronger than the forecast here it will not be a good day for rates.
Wednesday: Auction #3 for the week with $41Billion in 5 year notes. This one is a nail-biter. We need this to be well bid. There is enough supply here that a poorly bid auction will send ripple effects through the entire credit market... (which is NOT good for mortgage rates). If it is well bid we will see steady rates.
ThursdayOctober 29: 1st estimate of third quarter GDP, expected +3.2%. As I have mentioned in previous blogs... Inventory has been bled dry over the first half of the year, that is why this number looks so strong, it is due to businesses replacing inventory. As forecast it is most likely supportive of steady to possibly a slightly higher rate, it would take a number weaker than 2.5% to help bring rates lower.
Thursday: Initial Jobless claims expected down 6,000. likely to be supportive of steady rates.
Thursday: Auction #4 with $31 Billion in 7 year notes. This one may be more important than the 5 year. We will see what the investment world thinks about prospects for the economy into the future based on how well bid this auction is. If poorly bid, that means they think the economy is improving and want a higher yield to commit to a rate for 7 years. So that "Good News" is a bad thing for interest rates. This one could fall on either side of the fence.
FridayOctober 30: September personal income expected to be flat, Spending to be -0.5% and PCE index +0.2%. The PCE piece of this is the exact number that Trumps Tuesday's confidence number. if consumption is up more than forecast it will not be good. But a weaker PCE will definitely be supportive of lower rates.

The biggie of the week has to be the record $123 Billion in the auctions. Supply is always an issue in any market. So far this year we have been lucky with enough activity and enough investment in the auctions to keep rates from being hurt along the way. Keep your fingers crossed for these. The numbers themselves are most likely priced into the market and not likely to be big movers unless there is a surprise. The Auction is an unknown and unpredictable event that we will have to wait and see.

The trend over the last 3 weeks has bee towards higher rates, could be be due for a positive week? It is hard to tell. I would play it safe and Lock in.

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

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Vacation Homes With as little as 10% down: PMI Companies finally relax guidelines

Robert Rauf (REMN The Real Estate Mortgage Network) — Thu, 15 Oct 2009 12:01:16 -0500

Finally, some good news in the form of relaxed guidelines.

This is some great news. PMI Companies have caused many of the guideline changes we have experienced over the past few years since they were not willing go offer PMI on anything that had risk at all.

Just a few weeks ago we got news that we can do 10% down second homes. Here are the requirements:

720 Minimum credit score
$417,000 Max Mortgage

Even if you don't dabble much in the Vacation Home market, this is a great sign. This news came from one of the more conservative PMI Companies. The fact that they are willing to insure vacation homes shows that they have a renewed confidence in the Real Estate Market. This confidence must mean that they see a stable improving market or they would not add any risk to their portfolios

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

Economic Calendar: What may move Mortgage Rates this week? 10/13/2009

Robert Rauf (REMN The Real Estate Mortgage Network) — Tue, 13 Oct 2009 13:56:56 -0500

I don't even want to talk about last week, but I guess I need to.Friday was a horrific day in the credit markets and fannies lost 29/32nds by the close of business. That was a total loss of 26/32nds for the week. that may not sound like much, but that is an ugly number! WHY? Well it had a lot to do with comments that came from the Fed Chair. Bernake said that the Fed is ready to raise short term rates when they see sustainable growth. Here is the fun part: This is nothing new, this is what he has said over and over this year.. Basically "if we need to we will". This time the market seems to have taken the words and read between the lines and now think we will see the Fed begin to raise rates in the first quarter of 2010. prior to Friday they seem to have thought things would stay the same until the 3rd quarter of 2010. If you have been reading any of my blogs you may remember me saying I thought we wouldn't see any sustainable growth until the end of the first quarter at that time we will probably see the Fed begin to move.

Well, if you were wondering why the world blew up on Friday, that is why. the good news is we gained back 11/32nds when the market opened and we have pretty much stayed there most of the day.

Here is what we have in store for this week:

Monday: the market was closed, that's why I am a day late on this!
Tuesday October 13, 2009: No significant news today, but a happy credit market and some improvement in rates
Wednesday: I will be speaking at the OCBR's fall round table in Toms River.
Wednesday October 14: September Retail sales expected -2.1% ex auto +0.2%. This is a pretty weak number, but it was the end of the cash for clunker program and is likely to be dismissed because of that.
Wednesday: August Business inventories expected -0.9%. August numbers are old and not likely to be market movers. But eventually the decrease in inventories will lead to increased production to re-stock the shelves, so the inventory number doesn't matter that much now, but it may effect a production number down the road.
Wednesday: September Fed Meeting Minutes released. Expect this report to be read, and re-read looking for clues. It is not likely that there will be anything new, but a hint at sustainable growth will be bad for rates (good news is bad news in the credit markets folks)
Thursday, October 15: September CPI expected +0.2% with a core of +0.1%. If the core stays below +0.2% it should be a non event. If we get surprised with a big increase in the core CPI we will see a sell off in the credit markets leading to higher rates.
Friday, October 16: September Industrial Production expected +0.2% and Capacity Utilization 69.7. This bump up is mostly inventory rebuilding, as forecast it is not a sign of a boom, so not a likely market mover.

Well, that's what we have in store for the week. The biggie is most likely the CPI number on Thursday. If this is as forecast it is likely to be a quiet week for rates and we may actually see a little improvement in the market after the big sell off last week. We do appear to be a bit over sold and it is not unusual to get a bit of a bounce back. I just doubt the bounce back will be to levels as "nice" as we had unless we are surprised by an exceptionally weak number or Fed comments that counteract the Friday Leak.

By the end of the week I bet we look pretty much unchanged, but wouldn't be surprised by a slight improvement.

I hope this is a useful tool for you

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

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Economic Forecast: What might move Mortgage rates this Week?

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 28 Sep 2009 16:45:20 -0500

Whats happening to Mortgage Rates this week?

Last week was an overwhelmingly "happy" week for mortgages after an unchanged day on Monday we ended up with a gain of 29/32nds in Fannies by time the closing bell rang on Friday. This is mostly because word leaked out that The Fed stimulus will not abruptly stop as we originally thought in October. It is more likely to taper off over the next few quarter... Great news since Uncle Sam will stay in the market as a buyer.

This week is a busy one with everything crunched into a few days at the end of the week.

Here is what we have on the schedule:

Monday and Tuesday September 28 & 29th: No News days. In the absence of any news we have continued on last weeks rally with the market up 7/32nds as we approach the close.
Wednesday, September 30: final estimate of the second quarter GDP, expected -1.1%. The economic decline is tailing off, but the inventory reduction this year will make things look better as industry tools up to replace inventory. This number would have to be significantly stronger to cause an upward move in rates.
Thursday, October 1: ( OCTOBER ALREADY???) September Personal income, Spending and PCE expected +0.1%, 1.0% and +0.1%. The consumption index is always the biggie here since it truly shows what the consumer is doing. As forecast it is supportive of steady to possible lower rates.
Thursday: Initial Jobless claims, expected up 5,000. Not a mover especially since Friday is the big number.
Thursday: Bernake (supreme ruler of the money world) testifies on financial reform in front of the House Finance Committee. Ben will probably be grilled by the panel like a pork chop! Investors will look for any new insight but it is not likely that there will be anything new released in this format.
Thursday: September institute of Supply mgt, Manufacturing index expected at 54.0. This should be factored into any trading already, so it is not a likely market mover.
Friday October 2nd: The jobless report with Non farm payroll expected at -188,000, Un Employment at 9.8% and average hourly earnings at +0.2%. While we continue to see businesses lay off workers it is not at the same pace as the rest of the year andthe non farm number is reflective of that. The average loss in the first quarter was 691,000 jobs/month, so you can see it is much better now. This report should be supportive of steady rates unless we see a loss of 150,000 jobs or less and the jobless rate come in at 9.7% or better. If it becomes a good news report, rates WILL go up, almost instantly.
Friday: August Factory Orders expected +1.1%, This is an old number at this while the forecast is quite a bit weaker than last months report, it is not likely to do much than use up toner if you print this.

Well the week has started off quite well, and we have a lot to chew on this week. I expect we will probably see fairly quiet trading for most of the week unless the stock market has significant swings up or down. Stocks up will be bad for rates, stocks down will be good for rates.... If we have a calm stock market it will be quiet in the credit markets (bonds and mortgages) as the markets await Friday's Employment report which is most likely the "biggie of the week" With no surprises in the data, we may actually see slight improvement in rates this week, but a surprise will likely cause a knee jerk reaction to the up side.

I hope you find these reports to be useful, as you can see there is a lot more than just an individuals whim that makes the Mortgage Rate world move.

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

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Why YOU Should buy a home NOW

Robert Rauf (REMN The Real Estate Mortgage Network) — Thu, 24 Sep 2009 09:07:26 -0500

Why should you buy a home now?

I firmly believe that we will all look back on 2009 and say "I wish I got that house back in 2009!"

It is truly a buyers market.

More inventory than we have seen in years... So Many choices for buyers.
Interest rates are at very affordable levels
Sellers are becoming more willing to negotiate
Lower prices than we have seen in years
The median price of homes in Monmouth and Ocean counties are at a low point now and appear to be stable

What if you have a home to sell?

Worried about losing money on the sale of your home? You have to take into account the money you will save when you buy your new home.

Here are some completely contrived numbers to illustrate the example:

If your home was "worth" $225,000 in 2004 and you have to sell it for closer to $200,000. In your mind you feel like you are losing $25,000. That is NOT the case. First off, Hind site is 20/20, and you can kick yourself for not selling at the high forever.

You pick up much more when you move up to your next home. If the home you want to buy is $300,000 and the numbers work out in a similar fashion to the above number, you effectively buy your next house at a $37,500 discount. So in one scenario you see yourself as losing $25,000 but on the other you save $37,500... Thus realizing a $12,500 gain by buying the more expensive house at a discount...

So NOW is a great opportunity to buy if you plan to keep the house for the long run, I doubt you can go wrong.

More reasons NOW is the time to buy:

The average rate for a 30 year mortgage over the past 20 years is about 7.5%, over the past 40 years, 9.5%.. but NOW we have rates near historic low levels, in the low 5's depending on credit score etc.
First time buyers only have about 2 months left to buy and close on a home and Uncle Sam will give you $8,000 via a tax credit. (there are a few restrictions on the tax credit, but nothing crazy)
Rates may start to climb in October as the stimulus money runs out
Contrary to popular belief: It is not hard to get a mortgage today!

I could go on, but I am convinced that you cant go wrong buying a home now if you plan to keep it for a few years.

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

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Mortgage Rate Direction for this week 9/21/09: Economic Calendar

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 21 Sep 2009 12:22:49 -0500

What will influence Mortgage Rates this week?

Well Last week was a mixed bag off confused numbers. Most numbers were stronger than expected and some were weaker. Over all there was only one Good day for mortgages last week, that was Thursday, But unfortunately Friday wiped out every bit of Thursday's gain... net Net we lost 10/32nds last week, our first negative week we have seen in over a month, so I guess we were due for a little profit taking!

This week is starting off on a positive note, but it is a long bumpy road till we hit Friday at 5pm EST!

On this weeks calendar:

Monday September 21: August LEI, expected +0.7%. Leading economic indicators is a favorite of the Fed and is a very forward looking number. At 10am the report came in slightly weaker than expected at +0.6%... Some good news for rates and Fannies are up about 6/32nds as I type so we may see some rate improvement today.
Tuesday September 22: First day of the Fed Meeting. No news here until Wednesday.
Tuesday: First auction of the week with $43 Billion in 2 year notes. It is anticipated that the current yield on this short term security will be well bid by domestic and foreign investors, so it should not help or hurt mortgage rates
Wednesday September 23: Auction #2 with $40 Billion in 5 year Notes. Last months 5 year auction was well bid and I hope to see the same on Wednesday. If it is not well bid it could be bad news, so keep your fingers crossed here.
Wednesday: Fed meeting concludes at 2:15 and they make their post meeting statement. Get out your dissection tools... Investors will take apart every word of the post meeting statement looking for info. Any hint that the Fed is looking to remove economic stimulus will be bad news. Consensus is that this will most likely not be a market mover unless Bernake decides to throw us a curve ball.
Thursday September 24: Initial jobless claims expected up 5,000. Everyone knows that the jobs report will continue to be weak in the near term, so it is not likely to raise any eyebrows.
Thursday: Existing home sales for August expected up 2.1%. The 'UP' is likely due to distressed sales, but either way a big number like this is not conducive to lower rates.. Remember: good news is bad news for interest rates.
Thursday: Auction #3 for the week with $29 Billion in 7 year notes. A well bid auction here is most certainly supportive of lower mortgage rates. The yield is probably high enough to be well bid, but we will not know for sure until Thursday afternoon.
Friday September 25: August Durable goods orders expected +0.5% ex auto +1.0%. As forecast it is supportive of a stable mortgage market.
Friday: August New Home Sales expected up 1.6%. This would make 5 months of increased new home sales. If this number stays below 2% it will be a non event for mortgages, above 2% we may see a sell off leading to higher rates.

Well it is a week of "maybes" and "Wait and sees". The biggie of the week is likely to be the post meeting statement on Wednesday afternoon. Providing the auctions go "OK" the only underlying factor that may move rates will be stocks, as we saw on Friday last week. In the absence of data if stocks are doing well you can anticipate that the credit markets are doing poorly and rates will tick up. The reverse is true as well.

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

LOL FRIDAY - My Favorite Funny Commercials:

Robert Rauf (REMN The Real Estate Mortgage Network) — Fri, 18 Sep 2009 12:02:06 -0500

some of these truly made me LOL, I just had to share. Enjoy!

Via Mirela Monte, Your Myrtle Beach Real Estate Connection:

What will move Mortgage Rates? This weeks Economic Calendar 9/14/09

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 14 Sep 2009 11:49:18 -0500

Last week was the 6th straight week of modest gains we have seen in Mortgage backed securities. Unfortunately we had a bit of a sell off Friday Afternoon that wiped out a really nice gain for the day, but overall the week still ended up with Fannie Prices UP 8/32nds. That is enough for rates to be down a little making homes more affordable.

This week is a mix of data with Infation reports and some Fed speak to mix things up a bit:

Monday September 14: Its a no major news day. The market started the day off enough to wipe out last week's gain, but has since flattened out and is only off 2/32nds as I type.
Tuesday September 15: Happy Birthday to... Well You know who you are!
Tuesday: August Producer Price Index expected +.8% with a core of +.1%. The core level is the key here, showing little inflation pressure at the wholesale level. As forecast this is supportive of steady to possibly lower rates.
Tuesday: August Retail sales expected +2% x-auto+0.4%. Cash For Clunkers.. Well look at the number and you will see that it worked, for cars at least. The balance was a weak back to school spending surge. Not likely to move the market.
Tuesday: July Business Inventory expected -0.9%. July is OLD news at this point, so probably not much more than a Yawner. But it is a sign that we will see future production since the inventory numbers have been negative all year.
Tuesday:(again)... Fed Chair Bernake speaks at a conference in DC "Reflections on a year of Crisis". This is expected to be a re-run of his speech made in WY in August. What we want to pay close attention to here is if he talks about closing the Fed Check book up since we are fast approaching October when the Fed is stepping out as a buyer of Treasuries and Mortgages. I don't expect there will be anything new here so it is not a likely market mover.
Wednesday September 16: My 20th Wedding Anniversary...
Wednesday: August Consumer Price Index expected +0.3% with a core rate of +0.1%. With a core that low the market should be happy and will be supportive of steady rates.
Wednesday: August Industrial Production expected +0.6% and Capacity 69.0. This is a bump up from last month but is mostly due to Auto Production and inventory re building.... Not likely to be a market mover.
Thursday September 17: Initial Jobless Claims expected up 5,000. not likely to move mortgage rates.
Thursday: August Housing starts expected +3.2% and building permits expected +0.7%. This is a pretty modest UP, not likely to be any issue today.
Friday: No significant news on the calendar.

Looking at the calendar it is probably going to be a quiet week, UNLESS we get a big shocker on CPI or PPI and possibly Retail sales. The markets doubt that there is a sustained economic recovery in the near term and inflation will most likely be calm as well... All supportive of steady to possibly lower rates for now.

So I dont see a real Biggie of the week. A wild card perhaps in the Bernake Speach if he happens to say he will keep the check book open for the rest of the year, that would make the market happy and will likely lower rates. But that is truly a wild card that we cant anticipate.

Thanks for reading, I hope this helps you understand what moves the market each day.

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

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Mid week Rate update: WOW, What a great 4 or 5 weeks for Mortgage Rates

Robert Rauf (REMN The Real Estate Mortgage Network) — Thu, 10 Sep 2009 15:20:25 -0500

Mortgage Rates Are Back Near Historic Lows!

I have been tracking the ups and downs as Fannies are trading for quite some time now, and since the initial uptick this spring we have had a flat market. Don't get me wrong, there have been some crazy days with big swings and entire weeks that were nail biters.... BUT: if you tracked the ups and downs there were so many weeks that ended up unchanged by the closing of the market on Friday this summer that rates would look pretty flat if you were to graph them.

For almost 5 weeks we have seen Fannies trading slightly higher each week. With all this improvement in the price of Mortgage backed securities we have seen the yields on thirty year mortgages drop near levels we have not seen since the bottom we saw earlier this year. With Wednesday's and Thursday's auctions fairing pretty well and the market has been happy this week as well.

If the market continues down this path we may see interest rates drop back to the 4's we briefly saw early this year. We are darn close now. A Highly qualified buyer CAN get into the high 4s now pretty easily.

This may be the time! I still am worried about the Federal Reserve backing out of the credit markets. (That is happening in a month) When they do the crazy Supply and Demand issues kick in... Too much supply and one less buyer can lead to lower prices and higher yields.

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

Economic Calendar: What's happening with Mortgage rates this week, September 8, 2009

Robert Rauf (REMN The Real Estate Mortgage Network) — Tue, 08 Sep 2009 13:05:55 -0500

Where will Mortgage Rates be this week?

I cant believe that summer is over. Where did this year go? Well The kids are back in school, and we still have work to do! Last week ended up slightly positive. We had a bit of a sell off towards the end of the week as I had expected with the long weekend, The last week of the summer is always a thinly traded week, but over all it was a positive one, and the past month has bee a very positive one for rates.

Moving forward this week, Here is what we have on the calendar:

Monday: No business on Labor day!
TuesdaySeptember 8: Treasury auction of $13 Billion in 3 year notes. The near term inflation numbers have been weak, and this being a short term security it should be fairly well bid, The auction starts at 1pm, and as I type this it appears to be going well with mortgages trading slightly higher in price. (which means the potential of lower rates today)
WednesdaySeptember 9: Auction # 2 with $20 Billion in 10 year notes. This is expected to be a fairly easy sell to investors, but it is similar to mortgages and if investors are not happy with the yield and it gets pushed up, we may see mortgage rates creep up at the same time.
ThursdaySeptember 10: Initial jobless claims expected down 5,000. Jobs are not expected to rebound any time soon, so there should be no surprises in this report that will move rates.
Thursday: Auction #3 with $12 Billion in 30 year Bonds. I expect to see the Fed step in here and buy some of these if it is poorly bid. We only have about a month left of the Fed with an open check book to buy Treasuries and Mortgages. Comes October I am a little worried.
Friday September 11: PLEASE PUT OUT A FLAG TODAY!!! Mine is always flying, but I will probably dip it to half mast....
Friday: July Wholesale Inventories expected -1.0% vs. last month -1.7%. While this is an old number that is not likely to cause any ripples this week in the market, It is a sign that we may see factory orders bump up soon since Business Inventory has been shrinking all year. Once we see orders up it may be a sign of growth, inflation and rising rates.

Well this week we do not have any exciting or fresh data on the calendar. So from a market perspective we will see trading in Mortgages taking direction from both the stock market and the Treasury Auctions. We have seen a happy stock market for most of the summer months. If we see some profit taking in stocks along with well bid auctions it could be a recipe for noticeable improvement in Mortgage Rates. I actually feel that we will see a bumpy week, losing some ground with the 10 year auction on Wednesday and by time it is all played out we will probably have a fairly flat week by the end of the day on Friday with rates basically unchanged.

That's this weeks 2 cents worth!

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

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Financial literacy workshops for teens At the Jackson Branch of the Ocean County Library

Robert Rauf (REMN The Real Estate Mortgage Network) — Fri, 04 Sep 2009 10:00:46 -0500

This is one near and dear to my heart. For years I have been saying that our schools fail at teaching basic Money and Finances to our children. Here is an opportunity right at your local library to give your kids a head start on how to manage their money

What: free financial workshops for teens

When: 2 Tuesdays, Sept. 22 & Sept 29 @ 7 p.m.

Where: Jackson branch, 2 Jackson Dr.

CONTACT: Freda Lehman, (732) 92804400, ext 3833

flehman@theoceancountylibrary.org

Financial literacy workshops for teens

JACKSON - The Jackson branch (2 Jackson Drive) of the Ocean County Library will present "Dollars and Sense: Financial Literacy for Teens" on Tuesdays September 22^nd and 29^th at 7 p.m.

The session will help students in grade 7 through 12 prepare for a lifetime of managing their money wisely.

Finance specialist Murray Blasz will present a two-part course on credit, savings, budgeting and more! Teaching materials will be provided by The National Endowment for Financial Education. The workbooks will be used during the two sessions of the program, and then given to the participants to keep, free of charge.

This program is free and open to the public but registration is required. Please register in-person, by phone 732-928-4400 or online at www.oceancountylibrary.org.

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

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Economic Calendar: What May Move Mortgage Rates this week 8/31/2009

Robert Rauf (REMN The Real Estate Mortgage Network) — Mon, 31 Aug 2009 16:05:05 -0500

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 that tomorrow is September all ready!) With a new month brings a basket of new data.

Here is this weeks calendar:

MondayAugust 31: No major news day, but in the absence of the news we have a pretty happy market and as we approach the close we have the market trading solidly up 10/32nds
TuesdaySeptember 1: Institute of Supply Mgt/Manufacturing index expected 50.1. Already factored into the soup, it is considered to be a toothless report which is not likely to move the credit markets.
Wednesday September 2: Revised Q2 productivity expected 6.1% vs last 6.4%. The first productivity estimate was a guess. This Revision is not likely to move rates.
Wednesday: July Factory Orders expected +1.5%. Now that September is here, no one cares about July Numbers. Old news is not that important in a very forward looking market.
Thursday, September 3: Happy Birthday Susan Mangigian, And Happy Birthday to me as well!
Thursday: Initial Jobless claims expected down 20,000. Most analysts believe that it will take a long time for the jobs market to recover. This ugly estimate is not likely to be a mover, especially with Friday's number just 24 hours away.
Thursday: Institute of Supply mgt/Service Sector expected 48.7. The slight improvement over last month is anticipated. Near the target it is not likely to hurt at all, but if it comes in above 50, expect rates to bump up with it.
FridaySeptember 4: August jobs report with Non farm payroll -265,000, Jobless rate 9.5% and average earnings flat. This guestimate is typically pretty accurate, but when the analysts get it wrong that is when all hell breaks loose in the market.

There are 2 biggies of the week, one on the calendar, and one the calendar it self. First off the data piece: Fridays employment report is traditionally a market mover and should be watched closely, While Thursday's birthdays have absolutely no effect what so ever. If non farm payrolls are -235k or better with a 9.4% jobless rate, stocks will rally and interest rates will be hurt on the good news, but if the jobs report is weaker than forecast, just the opposite will hold true.

Now for the Calendar it self: This is traditionally one of the lightest trading weeks of the year. The last chance to squeakin a few extra summer vacation days. Thin Trading ahead of a long weekend is almost always problematic. Historically I have seen the trading be very conservative headed into the close on Friday. Foreign markets are open Monday while our markets are closed, that just adds to the concerns. So if the market goes bad, it is more likely to go bad fast since there will be less volume flowing to settle things down.

It is a tough call this week, I would be most cautious of Fridays report and pay close attention to the day to day trading and the good vs bad days in stocks. The stock market has the potential to rob from the credit markets and that will be a driving force in rates as well.

Have a wonderful 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

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Jackson NJ: Project Porchlight this weekend.

Robert Rauf (REMN The Real Estate Mortgage Network) — Fri, 28 Aug 2009 10:06:40 -0500

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 is to visit as many of the 17,000+ homes as possible this weekend.

For more information you can call (732) 928-1200

Have a great weekend.

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

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International rock star to Visit Ocean County Library, Toms River NJ

Robert Rauf (REMN The Real Estate Mortgage Network) — Thu, 27 Aug 2009 17:17:17 -0500

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 perform
When: Saturday, Sept. 12 at 2 p.m
Where: Toms River branch, 101 Washington Street
CONTACT: Scott Rodas, 732-349-6200, ext. 5912 srodas@theoceancountylibrary.org

The acoustic album includes a unique mix of brand new songs, favorites from her last two solo albums and covers of songs by such artists as Bonnie Raitt and Julie London.

Bettens has performed at dozens of key European festivals and headlined a South African tour and European theater tour. She was a headliner at the Michigan Womyn's Festival, has performed with the Yellow Umbrella Tour which raises awareness about cervical cancer, and has performed at several other arts festivals in major cities throughout North America.

With K's Choice, she was featured in Rolling Stone, Vogue, The Chicago Sun-Times and Billboard. Now, as a solo artist, she continues to make headlines with cover features in French Muse, Curve and The Advocate.

Here is a sample of Sarah's music

And You thought the Library was Nothing but a bunch of books?

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

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Ocean County Library: Services available for the homebound

Robert Rauf (REMN The Real Estate Mortgage Network) — Wed, 26 Aug 2009 14:10:18 -0500

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 including formats such as large print, regular print, audio books or music CDs; and the person's favorite authors and genres. The library will then match the homebound customer with a trained volunteer who will set up a mutually convenient time to deliver and pick up library items.

CONTACT: Christine Casatelli, 732-349-6200, ext. 5530 ccasatelli@theoceancountylibrary.org

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

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Vintage Auto Night at Ocean County Mall, Wednesday August 26

Robert Rauf (REMN The Real Estate Mortgage Network) — Tue, 25 Aug 2009 10:19:18 -0500

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 for food and drinks.
- No adult beverages allowed.

Both Domestic and foreign vehicles are welcome provided they are at least 25 years old and you have proof of Insurance

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

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