salt lake city real estate: The Daily Bond Report
- 06/18/08 08:37 AM
Wednesday, June 18, 2008 We are having a modest rally on the bond today. Currently we are up 64 Bp for the day, and 40 Bp since pricing came out at 10 am, giving us 2 re-prices for the better. The main driving force today is more on worries from the earnings reports and the effect they are having on the DOW, causing investors to move to the safety of the bond. Today both Morgan Stanley and Fifth Third Bancorp came out with much lower than expected earnings, with Morgan Stanley reporting that profits fell more than 57% from a year … (0 comments)
salt lake city real estate: The Daily Bond Report
- 06/17/08 04:21 AM
Tuesday, June 17, 2008 Here is something that you don't hear every day. Kuwaiti Finance Minister Mustafa Al-Shimali stated today that oil prices are too high and that they should be around $100 per barrel. With this coming from the 4th largest oil producing member OPEC, oil has retreated below $134 again. Housing starts fell 3.3% in May, the lowest in 17 years. This is bad news for the construction industry, but good for the market as a whole as we all painfully know, we could use a reduction in inventory. The Producer Price Index came out today at 1.4%, or … (1 comments)
salt lake city real estate: The Daily Bond Report
- 06/13/08 07:24 AM
Friday, June 13, 2008 I true Friday the 13th form, what can go wrong will. Although numbers came in as expected today, and the bond started off on a positive, it turned negative within the last hour. Bonds had been up as much as 40 Bp they have turned downward and as the normal lately, we are seeing re-pricing for the worse. In housing news, foreclosures once again made record territory with a 48% increase over the same time last year, and a 7% increase from last month. It looks as like most investors are taking today's profits and running while … (1 comments)
salt lake city real estate: The Daily Bond Report
- 06/12/08 07:07 AM
Thursday, June 12, 2008 This morning the bond found its level of support..... and then shot lower. With May retail sales beating everyone's expectations by .5%, it seemed that the much worse than expected unemployment numbers, which came in at 384,000, took a back seat. Bonds are still tracking down and we have already seen a re-price for the worse today. Oil is also down, which make stocks the winner of the day. With so much worry in the banking industry, we are going to be hard pressed to find a level of support. Tomorrow's CPI may show an increase in … (1 comments)
salt lake city real estate: The Daily Bond Report
- 06/11/08 06:53 AM
Wednesday, June 11, 2008 What a fun day yesterday. Since I was unable to e-mail and post this yesterday, here is a brief synopsis. 3 (count them) reprises for the worse, and a 118 Bp drop on the bond. We are still in a lock mode for the time being. That means that if you get a signed contract, please have your client ask their lender to lock the loan as soon as they can. With inflation on the Fed's mind and fear about the financial industry in investors' minds, oil has made a $6+ gain today as the safer investment. … (0 comments)
salt lake city real estate: The Daily Bond Report
- 06/09/08 06:55 AM
Monday, June 09, 2008 Lehman Brothers announced today that they are expecting a $2.8 Billion loss for this quarter and are in the process of trying to raise $6 Billion in Capital. This has provided the hammer to push down the bond today and raised rates. Oil, which flirted with $140 on Friday, has pushed back down to the $136 range. Pending home sales unexpectedly jumped in April to 88.2, higher than October, but still 13% lower than a year ago. With Bargain hunters moving their money from bonds today to buy stocks, it would be wise to lock any loan … (0 comments)
salt lake city real estate: One Last thought
- 06/03/08 06:07 AM
Coming soon to a lender near you...RETURN OF THE SISA... 100% 620 FICO, WAGE EARNER, ROLLING 30'S OK!!! Naaaa. That is what got us into the mess in the first place. The SISA has returned, but in a tamed down (somewhat sensible) version. What is allowed is 80% CLTV at a 680 FICO, on a primary residence or 700 on second homes. Investments are not allowed (yet). This program is only offered to self employed borrowers (sorry wage earners), but does allow for interest only. The program is close to conforming in the rates with a price hit of only .25 … (0 comments)
salt lake city real estate: The daily Bond Report
- 06/03/08 05:49 AM
Tuesday, June 03, 2008 Factory orders Jumped up a whopping 1.1% last month, much higher than the .1% expected, and giving the Dow a good boost in the morning. Banging Ben Bernanke also came out and to no surprise said that the Fed is done with rate cuts and even hinted about rate hikes. This is good news for us as a country as it will help tame inflation and boost the value of the dollar. Since oil is only traded in dollars, this equals to lower prices per barrel. The bond has been down most of the morning, but has … (0 comments)
salt lake city real estate: The Daily Bond Report
- 05/30/08 05:24 AM
Friday, May 30, 2008 Consumer confidence fell to a 28 year low according to the University of Michigan. This is the lowest reading since June 1980. To make everyone happy income rose .2%, but inflation is now expected to surge 5.2% (highest since 1982). Here I thought only bad hairdo's came from the 80's. With fuel costs nearing $4.00 a gallon, words like stagflation and staycation are starting to show up more in the news. Speaking of oil, the federal government has been investigating... well... the federal government for possible price manipulation in the U.S. oil markets. The bond had been … (0 comments)
salt lake city real estate: The daily Bond Report for the Salt Lake and Tooele Markets
- 05/28/08 05:00 AM
Wednesday, May 28, 2008 Durable Goods came in down .5% which was slightly less than the .7% drop than anticipated. What has killed the bond today is that if you exclude transportation, it came in up a whopping 2.5%. This may be a signal that businesses feel that it is time to stock up for better business. Bonds have taken a beating and are bouncing off the trend line. If we drop past this, we can look for rates to go up more. Here is where what is expected ends... Stocks are down, and oil is hovering around $129 (remember it … (0 comments)
salt lake city real estate: Weekly Trends for the Utah Real Estate Market
- 05/23/08 06:24 AM
THE JOB MARKET Weekly Jobless claims were down 6,000 from the previous week. A good drop in numbers but with 365,000 NEW claims filed in a week we are still a long way from recovery. The 4 week average is up 72,250 from a year ago. With Companies like Ford Motors looking to lay off more employees, chief U.S. economist Ian Shepherdson is predicting the numbers to climb to 400,000. The new Fed forecast is predicting unemployment to rise to 5.7% by year's end. Utah is still holding its own with unemployment still at an anemic 3.1%. Remember, there can be … (0 comments)
salt lake city real estate: The Daily Blog for the Tooele and Salt Lake Real Estate Markets
- 05/22/08 06:55 AM
The big fear of oil has calmed down for the moment. This morning investors woke up to $135 a Bbl in overnight trading. Oil has since retreated back to the $130. The 2 big market movers today are unemployment home prices. Unemployment beat estimated by a mere 5,000 last month, but it was enough to give investors the needed boost to start buying stocks again. Home prices also dropped a record 3.1% last quarter, the lowest since they started recording the numbers 17 years ago. Both of these drops have caused havoc to the Bond market, which is down 48 Bp … (0 comments)
salt lake city real estate: The Daily Bond Report for the Tooele and Salt Lake City Real Estate Markets
- 05/20/08 07:11 AM
It's another rodeo ride for the bond market today. The biggest market news is OIL (again), and it's push to the $130 mark. Economists' have been predicting $200 a bbl by year's end and it is starting to look like it may happen. Anyone have a Moped for sale? The Labor department's Producer Price Index(PPI) came out today, and the core (taking out energy and food) rose to .4% doubling what economists had expected. The overall PPI actually dropped, which has been a head scratcher given the cost of fuel and food recently. In mortgage news, the senate approved a bi-partisan … (0 comments)
salt lake city real estate: Daily Bond Report For The Tooele and Salt Lake City Real Estate Markets
- 05/19/08 06:15 AM
Friday, May 16, 2008 When I first saw the layout to our new home I thought "how smart to have the laundry on the second floor", then I moved a washer and dryer. Now all I think is "OUCH!!!" The market is much nicer than that today. With most economists feeling that the mortgage mess and home sales declines coming to an end by late 2008, AND the economy weakening further, the bond is on a small rally today even with the DOW up more than 125. Oil has fallen just below $126 a Bbl, which is good news considering the … (1 comments)
salt lake city real estate: Daily Blog for The Tooele and Salt Lake Real Estate Markets
- 05/16/08 06:10 AM
Friday, May 16, 2008 Big moves yesterday... for me that was. Moving can be a pain both physically and mentally. Today though, FHA Repealed their declining market rule they put into effect last December that required homebuyers to pay a larger down payment in "declining markets". Housing starts jumped last month to 1.03 million. Good news for the market, but the big jump came from multi-family housing i.e. rental properties. We actually saw a drop in SFR construction. The University of Michigan's Consumer sentiment came in at a 28 year low with our big friend oil taking most of the blame … (0 comments)
salt lake city real estate: Daily Bond Report for The Tooele ans Salt Lake Real Estate Market
- 05/14/08 04:47 AM
Wednesday, May 14, 2008 After yesterday's dismal drop, today's market works just fine for me. We are still in a lock mode, meaning that if a client signs that purchase contract, it's best to have them take the rate out there and not bet on better rates tomorrow. Making the market move today is the CPI (consumer price index), a gauge of inflation came in a bit lower than expected even with a .9% jump in food prices. This helped open the flood gates on the DOW, which started the day up 100 points and has yet to drop. Foreclosures are … (0 comments)
salt lake city real estate: The Daily Bond Report For the Tooele and Salt Lake Real Estate Market
- 05/13/08 05:02 AM
Tuesday, May 13, 2008 Citing better customer service and internal cost savings, Wal-Mart reported that their profits rose 6.9% in the first quarter of 2008... better customer service??? Riiight.... More likely that many Americans hit by the latest squeeze have become box shoppers to stretch their dollar more. On a positive note (see Steve it can happen), although many of the mortgage based companies reported major losses yesterday, investors bought stock as a sign that the worst has passed for them and they have turned the corner. Retail sales have posted a loss today and with investors still worried about a … (0 comments)
salt lake city real estate: One Last Thought for The Tooele and Salt Lake Real Estate Markets
- 05/12/08 08:13 AM
ZERO MONEY DOWN!!!! NO MONEY DOWN!!!! 100% FINANCING!!! Things of the past right? Wrong.... An article caught my eye today that for lack of a better word dogged the gift program process. Although there may be some less than honest lenders who will push an appraiser to boost numbers, many more are doing the due diligence and providing well valued loans to well valued clients. Down Payment assistance programs have had the heat turned on to them recently and have almost lost their ability to do business altogether. Most may be familiar with them as Nehemiah, but there are many … (0 comments)
salt lake city real estate: Daily Bond Repost
- 05/12/08 07:54 AM
Bonds have fallen under the stress of the Stock Market Rally. Currently the stock Market is up over 120. This is forcing the Bond down 25 for the day, but 34 Baisi points since pricing came out this morning. If you know of someone who is still floating, it would be best to have them lock, for the short term, before pricing deterioriates. If they missed the re-rice already, tomorrow is another day. Karl Menzer 435-849-0212 Http://www.karlmenzer.com
… (0 comments)
salt lake city real estate: The Daiuly Bond Report for Tooele and Salt Lake City Real Estate
- 05/09/08 07:48 AM
Friday May 9th, 2008 If speed racer were real I think he may have to start looking at alternative fuel for the Mach 5. Oil topped $ 126 a Bbl today, once again reaching an all time high. Don't even get me started on the price of Platinum. Mix into this volatile market a much sharper than expected decline in our trade gap, a sure sign that consumer spending weak, and you have the makings of a very bad day for stocks and bonds. In mortgage news, the house passed the bill that is already guaranteed a veto by the president. … (0 comments)
Wednesday, June 18, 2008;)
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