Cari Anderson's East Bay Mortgage Update for August 13th, 2010
Cari & I work in conjunction on the East Bay Mortgage Market Update. Buyers have an excellent opportunity to take advantage of these historically low rates to maximize their purchasing power.
Cari Anderson's East Bay Mortgage Update for August 13th 2010
Economic News: Thursday's Jobless Claims numbers came in well above consensus at 484K which is the highest level since February. In contrast the four week moving average actually fell 118K. This morning the Consumer Price Index (CPI) data was released showing that energy led to a slight increase in inflation. Taking out the volatile food and energy segment the index only rose a muted .10%. Auto sales led the way in a rebound in the Retail Sales numbers. On a year over year comparison retail sales were 5.5% higher for the July reporting period. Finally, Consumer Sentiment came in at the high range of expectations and showed a nice gain over the July report.
Mortgage Markets: The yield on the 10 Year Note is currently trading at 2.704% and the Mortgage Backed Securities market is doing a touch better than yesterday. Today's mortgage rates are a bit better than yesterday's closing levels and remain at fantastic levels.
Next Week's Reports: Monday: Housing Market Index. Tuesday: Housing Starts, Producer Price Index (PPI) & Industrial Production. Thursday: Jobless Claims.
Stay tuned for the Next East Bay Mortgage Update...
Cari's Website Tri Valley Mortgage News East Bay Mortgage News
925.964.1213 Direct // 925.570.0613 Mobile
Cari CA Real Estate Broker License 01220718...NMLS License ID 234849
Comments(1)