quicken loans: MARKET COMMENTARY
- 08/18/11 09:01 AM
Treasuries opened higher this morning, then continued to rally following the unemployment report. More americans than forecasted filed applications for unemployment last week, signaling the labor market is struggling to recover. The Consumer Price Index, which indicates the cost of living, rose more than forecasted last month. Everyone have a great day and the best of luck to your business. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/17/11 06:08 AM
Treasuries dropped slightly after the Producer Price Index showed wholesale costs in the US increased in July by .2%. This was after a .4% drop in June. Slowing sales and drops in the price of raw materials means companies will be less likely to raise prices, which may give the Federal Reserve more room to act to spur growth. I just passed my California State Exam...YEAHHHH! Have a great day everyone and good luck to all of you. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/16/11 04:53 AM
Builders began work on fewer homes in July, indicating residential real estate is failing to contribute to US growth. In other economic news, industrial production climbed to .9 percent, which has sent bond prices down off their highs this morning. Make sure to have a very good day today and good luck to all of you and your business. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/15/11 10:02 AM
The market rallied last Friday following the dissapointing consumer confidence reading of 54.9, and the market opened up fairly flat to where we closed Friday afternoon. In terms of economic releases we have a big week with some of the important releases including the housing reports along with the PPI and CPI inflation numbers. Everyone have a great week, last week sounded great for a lot of individuals. I passed my Colorado and Washington State Licensing Exams last week. If anyone is reading this do you know how long it takes to get your license approved in those states? Thank you. … (0 comments)
quicken loans: THE WEEK AHEAD
- 08/14/11 04:07 AM
The most significant economic data next week will be the monthly inflation reports. 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 Wednesday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Thursday. CPI looks at the price change for those finished goods which are sold to consumers. In addition, Industrial Production, an important indicator of economic growth, will come out on Tuesday, along with Housing Starts. Existing Home Sales will be released on Thursday. Empire State, … (1 comments)
quicken loans: WILD WEEK
- 08/14/11 04:06 AM
In one of the most volatile weeks ever seen, important economic news came out every day and produced major reactions in financial markets. Investor uncertainty is extremely high, amplifying the price movements. As stock prices fluctuated wildly, so did mortgage rates, which reached new lows for the year.Into this highly charged environment, a steady flow of significant economic news added fuel to the flames. It began late last Friday with the announcement that S&P downgraded the credit rating of US debt. Then the Fed shocked investors with its statement (see below). A scare ran through financial markets that European banks, particularly … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/11/11 05:54 AM
Treasuries and mortgages rallied yesterday afternoon on growing concerns over the soverign debt crisis affect on French banks along with Europe in its entirety. This morning we've given back some of those gains following jobless reports which showed that claims unexpectedly declined last week. In other news, I passed my Washington State Exam yesterday...Colorado is next on the list. Everyone have a great day today. … (1 comments)
quicken loans: MARKET COMMENTARY
- 08/10/11 07:06 AM
Yesterday afternoon, the FOMC announced that it will keep its benchmark interest rate at record lows through mid 2013. After the announcement the stock market quickly rebounded from the previous day's huge losses and mortgage bonds rallied. Today we are higher from yesterday's close as fears over slowing economic growth is supporting Treasuries and mortgages. Have a great day everyone, I hope you are all doing well. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/09/11 04:12 AM
The Fed will be meeting today after the unprecedented downgrade of the U.S.'s debt rating shook investor confidence in the economic recovery, and sent the DOW down over 600 points to end the day below 11000. Bonds are dropping this morning on speculation that the Fed will unveil another stimulus program. … (0 comments)
quicken loans: THE WEEK AHEAD
- 08/05/11 06:32 AM
The biggest economic event next week will be Tuesday's Fed meeting. Given the large stock market decline this week and the uncertainty about the economy, investors will be looking for indications on whether the Fed will provide additional monetary stimulus. The most significant economic data will be Friday's Retail Sales report, as Retail Sales account for about 70% of economic activity. Beyond that, Productivity, the Trade Balance, and Consumer Sentiment will be released. In addition, the Treasury will auction $72 billion in 3-yr, 10-yr, and 30-yr securities on Tuesday, Wednesday, and Thursday. … (0 comments)
quicken loans: LOWEST RATES OF THE YEAR
- 08/05/11 06:31 AM
Early in the week, an agreement to raise the US debt ceiling was reached, avoiding a default on government debt, but investors found little time for relief. Concerns about debt problems in Europe and the slow pace of global economic growth sparked a large rally in US bond markets and a large decline in the stock market. Mortgage rates improved significantly during the week, ending at the lowest levels of the year.
This week's bond market rally dropped mortgage rates back to levels last seen in November, which is not too surprising since the economic environment is now similar to … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/05/11 05:24 AM
The DOW dropped 512 points yesterday, but rates also fell to record lows yesterday. This morning however we had some positive economic data which is reversing much of the gains from yesterday in the mortgage backed security market. The unemployment rate showed a drop to 9.1 percent, and the payrolls report came in much better than expected, which is reducing concerns that the economic recovery is weakening. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/04/11 03:15 AM
Treasuries are continuing to rally as fears continue over the U.S. economy potentially slipping back into a recession. Today's economic news schedule is relatively quiet with applications for jobless benefits decreased to 400K, showing limited improvement in the labor market. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/03/11 04:53 AM
Yesterday, treasuries and mortgage bonds rallied for the fourth consecutive day as the debt ceiling issue was put to rest and the market shifted its focus to the broader economy. Bonds are moving higher again today after the release of some disappointing minor employment data which could be a preview of Friday's unemployment report. … (0 comments)
quicken loans: MARKET COMMENTARY
- 08/02/11 02:15 PM
Treasuries and mortgage bonds opened higher this morning. The House passed the debt ceiling measure last night, and the Senate will be voting later this afternoon. The deadline for lawmakers to reach a resolution on the debt ceiling is midnight tonight. In economic news, personal spending unexpectedly fell, which is also driving bonds even higher early today. … (0 comments)
quicken loans: MONDAY MORNING NEWS
- 08/01/11 05:02 AM
Treasuries and mortgage bonds are opening lower after lawmakers together with President Obama reached an agreement last night, to raise the US debt ceiling by at least $2.1 trillion and also cut spending by at least $2.4 trillion. The House plans to vote today with the Senate soon thereafter. We have a lot of economic data this week, with some of the key reports being the ISM and employment report. … (0 comments)
quicken loans: GDP FALLS SHORT
- 07/29/11 08:41 AM
Amid all the turmoil surrounding the US debt ceiling talks, weaker than expected economic data and increased concerns about Europe helped mortgage rates improve this week.
A lack of progress in the debt ceiling talks has left investors with a high level of uncertainty, causing a great deal of volatility in mortgage markets. The current debt ceiling will be reached soon, but this time around many lawmakers from both parties are reluctant to raise the limit without an agreement to control the deficit. The two parties have been unable to reach a compromise on spending cuts and tax reform, though. … (0 comments)
Treasuries opened higher this morning, then continued to rally following the unemployment report. More americans than forecasted filed applications for unemployment last week, signaling the labor market is struggling to recover. The Consumer Price Index, which indicates the cost of living, rose more than forecasted last month.
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