walnut creek mo: Cari Anderson's East Bay Mortgage Update for October 15th 2010 - 10/15/10 08:40 AM
Cari Anderson's East Bay Mortgage Update for October 15th 2010
Economic News:  The majority of the economic reports were concentrated at the end of the week.  On Thursday Initial Jobless Claims and the Producer Price Index (PPI) were reported.  The jobless numbers were higher than expected at 462,000 and there was a very slight increase in the four week moving average.  The PPI figures showed an increase of .40% from last month and up 4% from last year.  When the volatile food and energy components are excluded producer prices increased a modest 1.5% over last year.  Friday's Consumer Price Index (CPI) … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for October 1st 2010 - 10/01/10 09:33 AM
Cari Anderson's East Bay Mortgage Update for October 1st 2010
Economic News: The Gross Domestic Product (GDP) numbers were released yesterday.  The 1.7% growth figure, while still a little weak, came in at the top end of the consensus range. Initial Jobless Claims were reported lower by 16,000 and the four week average trended lower for the fifth straight week.  Today's Personal Income & Outlays reported that income was up .50% month over month and up 3.3% year over year.  Consumer Spending was reported up .40% month over month and 2.7% year over year.  Consumer Sentiment had a nice gain at 68.2 which … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 28th 2010 - 09/28/10 08:01 AM
Cari Anderson's East Bay Mortgage Update for September 28th 2010
Economic News:  A fairly big dose of economic data will be released this week.  Today brought us the Case-Shiller Home Price Index & Consumer Confidence readings.  The HPI data was a bit of a mixed bag with the non-seasonally adjusted data showing gains in both the month to month as well as year over year measurements.  When seasonally adjusted the data is basically showing a flat line.  Consumer Confidence came in under consensus and was at the lowest point since the beginning of the year.
 Mortgage Markets: The yield on the … (3 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 22nd, 2010 - 09/22/10 06:53 AM
Cari Anderson's East Bay Mortgage Update for September 22nd 2010
Economic News:  Tuesday's Housing Starts figures beat the estimates by a wide margin.  This was mostly due to the Multi Family sector starts which rose 32.2% for August.  The Single Family component rose as well up 4.3% versus a 6.7% drop in July.  Yesterday's Federal Open Market Committee (FOMC) announcement contained the language that "the pace of recovery in output and employment has slowed in recent months."  The FED signaled that the Fed Funds Rate would remain low for an "extended period" and it will review additional measures to "jump start" … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 20th, 2010 - 09/20/10 08:49 AM
Cari Anderson's East Bay Mortgage Update for September 20th 2010
Economic News:  This morning's Housing Market Index was reported at 13 for September which is the same level as last month.  We will get much more information on housing later this week as Existing Home Sales will be reported on Thursday & New Home Sales on Friday.  Also out today was a report by the National  Bureau of Economic Research (which per the Wall Street Journal is tasked with "dating changes in the US business cycle) that the recession officially began in December of 2007 and ended in June of 2009.  If you … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 17th, 2010 - 09/17/10 07:12 AM
Cari Anderson's East Bay Mortgage Update for September 17th 2010
Economic News:  On Wednesday the Industrial Production numbers for August were reported and were in line with consensus.  Thursday's Producer Price Index revealed a uptick in inflation but if you exclude to volatile food and energy sectors it was up only .10% from last month.  Initial Jobless Claims numbers came in at 450,000 which was lower than anticipated and the four week moving average posted a nice decline.  Today's Consumer Price Index release, in line with thePPI, showed that the food and energy sector was leading the way in the inflation … (3 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 14th, 2010 - 09/14/10 07:03 AM
Cari Anderson's East Bay Mortgage Update for September 14th 2010
Economic News:  Today's Retail Sales Report beat consensus estimates, posted a second month of gains, and supports the opinion that while growth is tepid it is still growth.  This data supports the notion that we may avoid a double dip recession.
Mortgage Markets: The yield on the 10 Year Note rallied yesterday and today with the yield back down to 2.684%.  Mortgage Backed Securities have stabilized after heavy losses last Friday and made nice gains to start the week.
This Week's Reports:  Monday:  Treasury Budget.  Tuesday:  Retail Sales.  Wednesday:  Industrial Production.  … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 10th, 2010 - 09/10/10 06:49 AM
Cari Anderson's East Bay Mortgage Update for September 10th 2010
Economic News:  The economic reports this week boosted the Equity Markets at the Expense of the Bond Markets.  Wednesday's Beige Book Report did not hold any surprises and reflected the sentiment that the recovery has slowed a bit but economic growth is still expanding.  Thursday's Jobless Claims report revealed that Initial Claims came in well below expectations at 451K for the week and improvement was shown in continuing claims as well.  Finally, the 30 Year Bond Auction on Thursday did not go well and put additional pressures on interest rates.
Mortgage … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 7th, 2010 - 09/07/10 07:25 AM
Cari Anderson's East Bay Mortgage Update for September 7th 2010
Economic News:  It is going to be a quiet week for economic data.  The stock market has started out lower this week due to questions over the "Stress Tests" in the European Banking Sector.  Wednesday will also have the release of the "Beige Book" (released 8 times per year ahead of the Federal Open Market Committee FOMC) meeting.
Mortgage Markets: The 10 Year Note is rallying on the equity weakness this morning with the yield falling back to 2.620% and Mortgage Backed Securities are recovering a bit of last week's losses.  … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for September 3rd, 2010 - 09/03/10 05:47 AM
Cari Anderson's East Bay Mortgage Update for September 3rd 2010
Economic News:  The stock market has done well this week and is poised to end a three week downturn.  Much of this week's economic data was better than expected which boosted equities and hurt bonds.
On Monday Personal Income & Outlays were reported for July.  Consumer Income rose .20% month over month and year over year showed a rise of 3%.  Consumer Spending was up .40%, beating estimates, and rose 3.4% over last year.
On Tuesday it was reported that the Case-Shiller Home Price Index for June rose 1% month over … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for August 27th, 2010 - 08/27/10 11:37 AM
Cari Anderson's East Bay Mortgage Update for August 27th 2010

Economic News:   A wild week in the markets ended with a big rally in the Stock Market and a selloff in the Bond Market.  The week's economic reports included:  Existing Home Sales, New Home Sales, Durable Goods Orders, Jobless Claims and Gross Domestic Product and Consumer Sentiment.  Although there were a few positives in some of the data the overall picture was disappointing and the markets were looking a little bleak at the start of trading Friday.  The markets began to rally shortly after Federal Reserve Chairman Ben Bernanke signaled … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for August 23rd, 2010 - 08/23/10 09:03 AM
Cari Anderson's East Bay Mortgage Update for August 23rd 2010
Economic News:   A quiet day with no economic reports to speak of.  The rest of the week will provide a fair amount of data assisting the near term view of where things are heading.   A lot of debt is scheduled to be auctioned off this week.  There will be U.S. Treasury Auctions as well as a host of Municipal Bond Sales.  All this together will make for a lot of supply, and competition for mortgage paper, so keep a close eye on the bond markets this week.
Mortgage Markets: The yield … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for August 20th, 2010 - 08/20/10 05:23 AM
Cari Anderson's East Bay Mortgage Update for August 20th 2010
Economic News:  There is really nothing to note in the way of economic releases today (which is probably a good thing considering the week's reports thus far).  This time of year provides volatile markets due to lower volume with many participants on the sidelines enjoying the last two weeks of August.  Yesterday's Jobless Claims, Leading Economic Indicators and the Philadelphia Fed Survey were not as positive as some hoped.  No need to share any more negative economic news this week.  Next week has a pretty decent number of important reports which … (3 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for August 4th, 2010 - 08/04/10 05:46 AM
Cari Anderson's East Bay Mortgage Update for August 4th 2010
Economic News:  Tuesday's report on Personal Income & Outlays (reflecting June 2010 results) showed that from a month over month comparison both income and spending were flat.  Looking at a year over year time horizon personal income was up 2.6% and consumer spending was greater by 3.1%.  Yesterday also had the Pending Home Sales Index (again reflecting June 2010 results) fell 2.6% from month to month and stands 18.6% lower than year ago levels.  Wednesday's data was a little brighter with the ADP Employment Report expecting a rise in private sector … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for August 2nd, 2010 - 08/02/10 07:02 AM
Cari Anderson's East Bay Mortgage Update for August 2nd 2010
Economic News:  The Stock Market has started off strong today and taken a bit of the wind out of the sails of the Bond Markets.  This morning started with the release of the ISM Manufacturing Index. (The Institute for Supply Management surveys 300+ companies on business conditions with respect to hiring, new orders, production, inventories, etc).  The ISM Index came in at 55.5 and was better than consensus but the slowest rate of the year.  Even though the manufacturing sector shows a bit of a slowdown the markets liked the report … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for July 28th, 2010 - 07/28/10 06:13 AM
Cari Anderson's East Bay Mortgage Update for July 28th 2010
Economic News:  Yesterday's Case-Shiller Home Price Index results for May showed continued strength.  This index represents a three month moving average and for this report contained March, April & May data.  Consumer Confidence was also on the docket yesterday and came in slightly less than expectations at 50.4 mainly driven by the stubborn employment market.  Lastly, Durable Goods Orders were announced this morning for June and came in below consensus with the transportation component accounting for a large part of the decline.  The Beige Book Report (a report on economic conditions … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for July 23rd, 2010 - 07/23/10 05:54 AM
Cari Anderson's East Bay Mortgage Update for July 23rd 2010
Economic News:  Yesterday brought us the Jobless Claims figures.  Initial Jobless Claims rose 37,000 to 464,000 for the July 17th week.  The four week moving average did improve a bit from the last report which is good news.  The National Association of Realtors ® reported Existing Home Sales fell 5.1% for the month of June but this was better than the consensus estimates.  Supply also rose to 8.9 months from the prior reading of 8.3 months.
Mortgage Markets:   The yield on the 10 Year Note is currently trading at 2.948%.  In … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for July 16th, 2010 - 07/16/10 05:50 AM
Cari Anderson's East Bay Mortgage Update for July 16th 2010
Economic News:  Yesterday's Producer Price Index (PPI) came in lower than expected influenced by a drop in the food & energy prices.  The PPI inflation fell .50% on top of a .30% drop we experienced in May. Weekly Jobless Claims fell 29,000 to 429,000 which is good news.  On the other hand continuing claims rose by 247,000 to 4.681 million.  Industrial Production results were at the high end of consensus but were a little muted.  This mild slowdown comes on the heels of gains we have experienced over the past year.  … (0 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for July 9th, 2010 - 07/09/10 06:02 AM
Cari Anderson's East Bay Mortgage Update for July 9th 2010
Economic News:  The holiday shortened week did not bring much in the way of economic news.  The Dow Jones Industrial Average made steady progress and moved back above the 10,000 mark.  We will be greeted with a more active market calendar next week with the beginning of "earnings season" as well as readings on Retail Sales and the current inflation picture.  The economic uncertainty in the Euro Zone as well as our weak labor markets should keep a lid on any near term rate increases by the Federal Reserve.
Mortgage Markets:   The … (2 comments)

walnut creek mo: Cari Anderson's East Bay Mortgage Update for July 2nd, 2010 - 07/02/10 09:53 AM
Cari Anderson's East Bay Mortgage Update for July 2nd 2010
Economic News:  As the week progressed the economic data was not taken well by the stock market.  This led to a continued rally in the bond market and lower interest rates.  Tuesday's Case-Shiller Home Price Index was strong due to the housing stimulus (now mostly expired) but the New Home Sales data (based on signed contracts) did not look so hot.  The Consumer Confidence figures came in well below expectations with a 10 point decline down to a reading of 52.9.  Wednesday's ADP employment report also came in below the consensus figures.  … (1 comments)

 


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