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Two Minutes with Todd 9.22.08 - $770 Billion!

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Mortgage and Lending with HomeStreet NMLS ID#218341 BK#0909801

Here is my weekly video email that I send out to my strategic partners. Please let me know your thoughts...

 

9.22.08 Two Minutes with Todd - $700 Billion!

 

CLICK HERE to Play Video

 

Hi Team, I hope everyone had a great week. The market is off with a thud this week - both stocks and mortgage bonds down a this time. It will be another week of trading on emotions and rumors as the market digests the $700 Billion Government bailout. The congressional debates will be hot as they attempt to push this through before their upcoming break. There is a lot of pork (you know - stuff people want added on the coattails of an important bill) that is being talked about. This will be another fun week to watch!

 

The Freddie Mac Primary Mortgage Market Survey for last week was 5.78% with .6 Fees/Points for a 30 year fixed rate loan and 5.35% with .6 Fees/Points for a 15 year fixed rate loan.

 

There are no true "high impact" economic reports this week - just a bunch of moderate impact releases. Hence my comments about emotion are rumor driving the market this week. I will be paying special attention to the following reports: Wednesday - Existing Home Sales, Thursday - New Home Sales and Durable Goods Orders, and Friday - Gross Domestic Product (GDP) and University of Michigan Consumer Sentiment Index. I will also be watching the price of oil as it approaches the 200 day moving average (ceiling of resistance at about $111 per barrel). It is currently at $110 (and volatile!) Inflation has been moderating but oil is up over $15 a barrel in the past 4 days alone. Remember that inflation is the arch enemy of bonds.

 

Thank you for all of the articles and feedback you have been sending. I will be starting a blog later this week to comment on the varying opinions that are out there. Hit the comment button on the right or send me an email and I'll forward the link as soon as it is active. Please feel free to comment as I know your thoughts are valuable to the community.

 

Have a great week! Todd

Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner
Chris Brown | Certified Mortgage Planners - Orlando, FL
Chris Brown 407.367.2974

dude, rock and roll, looks good... i liek the video

 

Chris the implemtner

Sep 23, 2008 08:15 AM
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Todd,

I can't click the video; it's not yet 5:00 in the morning, and my wife would shoot me.  Thanks for commenting on my blog.  Come back and subscribe.  I promise to give you more than real estate and lending.  AR has been a great source of revenue for me because I've cultivated real relationships with real people, and that has turned into referrals.

Welcome to the RAIN!

Mike in Tucson

Sep 24, 2008 11:55 PM
Todd Bookspan, MBA
HomeStreet - Scottsdale, AZ
Senior Mortgage Consultant

Mike - It's always great to hear from land of the Wildcats! I'm glad I'm not the only one up before 5am.  Thanks for the feedback. I am very excited to be part of AR and looking forward to meeting new people.

Sep 25, 2008 12:40 AM
Andrew Monaghan
The Monaghan Group - Glendale, AZ
CRS, GRI, EPro Associate Broker

Todd, As always greaqt information.

Sep 27, 2008 04:24 PM