atlanta: Atlanta, GA Market Update - September 13, 2010
- 09/13/10 07:12 AM
Following a tough week for Mortgage Bonds last week, they have regained some lost ground today. This is all while the stocks are trading higher. This also comes after the European Commission increased their outlook for this year's growth from 0.9% to 1.7%. Also calming fears, the Basel Committee increased it's capital standards from 2% to 4.5%. Banks have been given until 2015 to reach the new standards. Domestically, there is little market news today.
Tomorrow, we will see Retail saels numbers released. Industrial Production & Capacity Utilization will be released on Wednesday. With little new economic news today, … (0 comments)
atlanta: Tyler Perry Auctions Contents of Atlanta Home
- 09/12/10 12:12 PM
On September 12, 2010, Tyler Perry is set to auction off the contents of one of his recent real estate purchases. Perry is the newest owner of Dean Gardens, the 58-acre estate located on Old Alabama Rd in Johns Creek. The $7.6 million sale was completed in late July, although Perry was not identified as the buyer until a few weeks later. The current home took over 4 years to build and has been on and off of the market for the last 15 years. Reports are that the current 32,000 square foot home will be torn down for Perry … (0 comments)
atlanta: Atlanta Population Increased 29% in Last 9 Years
- 09/11/10 03:51 PM
According to revised population figures released yesterday by the US Census Bureau, Atlanta had the 8th largest population increase in the country. This ranking is for communities who added at least 100,000 residents during the 9 year period of 2000-2009. The city of Atlanta added 122,009 residents. This is a 29.% increase which brings the city a population of 540,922. Atlanta now ranks as 33rd among 19,507 cities. Metropolitan Atlanta population numbers place the area in the top 10 for the country.
Selected Georgia Cities Adding Residents: City Population (2009) Increase Percentage Newnan 31,587 15,311 94.07% Canton 23,073 … (7 comments)
atlanta: Atlanta, GA Market Update - September 10, 2010
- 09/10/10 02:32 PM
Once again, economic optimism has driven stocks higher this morning. This rally comes after the Wholesale Inventories report improves the most in two years. According to the Commerce Department, wholesale inventories jumped 1.6% in July. This is much better than the 0.4% increase that had been expected. Treasuries and mortgage bonds are once again suffering for the sixth out of the last seen trading days. St. Louis Federal Reserve Bank President, James "Raging" Bullard stated that he sees a slowdown in the economy for the second half of this year. He does though predict a pickup in 2011. He added that the … (0 comments)
atlanta: Atlanta, GA Market Update - September 9, 2010
- 09/09/10 04:37 AM
Mortgage bonds are once again under pressure this morning. This time, it is due to a better than expected Initial Jobless Claims report. For the week ending September 4, the initial jobless claims fell to 451,000. This is down 27,000 from 478,000. The reading is also considerably lower than the 470,000 that economists had previously predicted. A report showing a narrower than expected trade deficit has also led to the sell-off. This economic news has the stock market up today. At 1:00 pm EST today, the Treasure will sell $13 billion in 30 Yr Bonds.
Volatility in the market continues throughout today. The market opened with stocks moving higher while mortgage bonds gave back most of the gains from yesterday afternoon. This comes after a successful debt offering in Portugal which has help calm some of the fear surrounding the European debt issues. There were no economic reports released today. At 1:00 pm EST, there will be an auction for a $21 billion 1-Yr Note offering. An hour later, at 2:00 pm EST, the Federal Reserve will release its Beige Book. This will offer more details on economic conditions as complied by the 12 regional district of the … (4 comments)
atlanta: Atlanta, GA Market Update - September 7, 2010
- 09/07/10 02:17 PM
After last week losses, mortgage bonds got off to a good start this morning. There is renewed concern regarding the European debt crisis. Yesterday, the Federal Association of German Banks said that after the recent stress tests, the country's 10 biggest banks might need as much as 105 billion euros in capital to meet new standards. All of this has led to an improvement in mortgage rates today. This will be a light week when it comes to reports. There will be several Treasury auctions this week. This includes one at 1 pm today for $33B in 3 -Year T Notes. Tomorrow, … (2 comments)
atlanta: Atlanta, GA Market Update - Week Ahead
- 09/06/10 04:20 PM
With Monday being Labor Day, there will be a short work week ahead. There will be very few financial reports released. Wednesday - 10:30 am - Crude Inventories Wednesday - 2:00 pm - Beige Book Thursday - 8:30 am - Jobless Claims (Initial) Thursday - 8:30 am - Balance of Trade
Mortgage rates did suffer last week. With a light week ahead for reports, mortgage bonds will take direction from the stock market.
… (0 comments)
atlanta: The Launch of Publix Curbside Service - Toco Hills
- 09/05/10 05:52 PM
Publix announces the launching of its new Publix Curbside service. This service debuts at the Toco Hills location in Atlanta, GA. Publix Curbside will also be launching in Tampa, FL soon. "How does it work? Just click on your location below to shop online at your convenience. Our easy-to-use site lets you select products from that store—and even honors sales prices and special deals offered in our weekly ad. Like your Deli meat, produce, or other items a certain way? Make a note! Our specially trained Curbside associates will put your entire order together, taking care to do just as … (1 comments)
On September 1, 2010, HUD announced that it will adjust its FHA Mortgage Insurance Premium effective October 4, 2010. These changes are outlined in Mortgagee Letter 2010-28
Effective for all case numbers ordered on or after October 4, 2010:
Up front MI will decrease from 2.25% down to 1%. Monthly MI will increase from .55% to .90% annually for LTV's > 95%. Monthly MI will increase from .50% to .85% for LTV's < = 95%. This change will increase the borrower's total monthly mortgage expense. The total loan amount, however, … (0 comments)
atlanta: Atlanta, GA Market Update - September 3, 2010
- 09/03/10 04:17 AM
Friday morning saw the release of the Jobs Report. In August, 54,000 jobs were reported lost. This is far better than the consensus estimates of 120,000. This includes the elimination of about 114,000 temporary census workers. For the private sector, this mean that around 67,000 new jobs were created. That number is much better then the 44,000 that was expected. The Unemployment Rate did increase slightly to 9.6%. This was in line with expectations. Number two fast food giant Burger King announced yesterday that it is being acquired by 3G Capital. The cost of the acquisition is a report $3.26 billion. Burger King currently hasmore … (0 comments)
atlanta: Atlanta, GA Market Update - September 2, 2010
- 09/02/10 05:25 AM
Thursday continues to be another bad day for mortgage bonds and mortgage interest rates. The Initial Jobs Claims report was released this morning. Claims fell by 6,000 to 472,000. This is slightly better than the expected 475,000. This has given some optimism heading into tomorrow's Nonfarm payrolls. Expectations are for Nonfarm payrolls to show a loss of approximately 100,000 to 120,000 jobs. There was an unexpected increased in Pending Home Sales for July. There was a 5.2% month over month increase. Little change was forecasted. All of this positive data has treasuries and mortgages declining this morning. This in turn, leads to … (1 comments)
atlanta: What Information Do I Need for an Existing FHA Condo (DELRAP) Approval????
- 09/01/10 09:28 AM
What Information Do I Need for an Existing FHA Condo (DELRAP) Approval???? If you are interested in an existing condo and you will be using FHA financing, the project must be FHA approved. To find out if a condo has been FHA approved, you can visit the Condominium Page on the HUD website. There are a variety of ways to search to a project. Should you not see your community on the list, Prospect Mortgage is an approved DELRAP lender. HUD only grants DELRAP authority to direct lenders that it has deemed to have significant condo project approval experience. At … (3 comments)
atlanta: Atlanta, GA Market Update - September 1, 2010
- 09/01/10 06:11 AM
After enjoying a rally yesterday, treasuries and mortgages experienced a decline this morning giving back most of their gains. This is pushing mortgage interest rates slightly higher today. The decline comes after a strong Institute of Supply Management (ISM) manufacturing Index. The ISM Index rose from 55.5 in July to 56.3 in August. This more than beat expectations of a speculated drop to 52.9. Adding to the ISM result is the rally being reported in the stock markets of Asia and Europe. Those stocks began to climb with the announcement of that the China Federation of Logistics and Purchasing managers index climbed to … (0 comments)
atlanta: Atlanta, GA Market Update - August 31, 2010
- 08/31/10 10:31 AM
Tuesday morning saw a mixed bag of economic news. The overseas market declines and the indecision ahead of Friday's employment reports caused treasuries to rally and stocks to fall. It was reported that the consumer confidence index increased from 51 in July to 53.5 in August. This number is just slightly better than the 50.7 expectation. The Standard & Poor's/Case-Shiller 20-city composite home price index rose 4.2% in June from a year earlier. This is better than the 3.1% that was expected. The Chicago PMI saw a decline from 62.3 in July to 56.7 in August. The expectation was 57. White House … (1 comments)
atlanta: Atlanta, GA Market Update - August 30, 2010
- 08/30/10 03:20 PM
This morning saw the release of several consumer spending reports. The reports show that consumer spending rose 0.4% in July. This is slightly better than the 0.2% that was expected by economists. June's reading came in at 0.1%. This report shows that even amid economic uncertainly and high unemployment, consumers are still spending. Later this week, Non-farm payrolls and the Unemployment rate will be released on Friday. Nielson reports that Atlanta will remain the number 8 US TV market for the 2010-2011 season. New York remains in the top spot with Los Angeles and Chicago rounding out the top 3. The total number … (0 comments)
atlanta: Atlanta, GA Market Update - August 27, 2010
- 08/27/10 11:41 AM
This morning opened with a rally in the stock market. The rally comes after after Bernanke reassures investors that the Fed will take the necessary steps to help the economy recover. In his speech, Bernanke gave a detailed analysis of the economy and said that growth during the past year has been "too slow" and unemployment "too high." He stated "the Committee is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly." Moller Tech will reportedly bring 75 jobs to Elberton, GA. The 2nd quarter GDP revision came in at 1.6%. … (2 comments)
atlanta: Atlanta, GA Market Update - August 26, 2010
- 08/26/10 07:34 AM
Mortgage bonds opened higher on the day. They quickly lost their ground when the Initial Job Claims number was released. The Jobless Claims for last week were slightly better than expected. This gave the equity market slight optimism after a week of disappointing housing data. Initial jobless claims for the week ended August 21 totaled 473,000. This is down 31,000 in week-over-week numbers. It is also less than the 485,000 claims that had previously been expected. At 1:00 pm EST today, the last auction on the week was held. It is a $29 billion 7 year note offering. Tomorrow, we will see the … (2 comments)
atlanta: Meet Menchie's Night at Toco Hills - Friday, August 27th - Free Fro-Yo
- 08/25/10 02:38 PM
Menchies's in the Toco Hills Promenade opens on Saturday, August 28, 2010. Don't wait until then though. Come out to Menchie's on Friday, August, 27, 2010 from 6-10 pm. Anyone who comes in gets FREE fro-yo. It's Menchie's way of thanking the community for a warm welcome to the neighborhood. Come back on Saturday for the Grand Opening. That day, 20% of all proceeds goes to Children's Healthcare of Atlanta. Just another way Menchie's gives back. Menchie's yogurt is available in over 70 flavors. You can choose from Regular, Dairy Free, Low Carb, and Dairy Free. The standby favorites of vanilla, … (0 comments)
atlanta: Atlanta, GA Market Update - August 25, 2010
- 08/25/10 04:54 AM
Housing data continues to pressure the equity markets. The Dow fell considerably below 10,000 this morning. New Home Sales for July fell 12.4% month-over-month. This gives an annualized rate of 276,000 units. That is well below the rate of 334,000 units that had been expected. This is also near record level lows. Durable goods also disappointed this morning. They only had a 0.3% increase in July. The forecast was for about 3%. Later today we have an auction of $36 billion 5 year notes. Those results will be announced at 1:00 pm EST. There are expectaitons for some news from Washington to help the industry. Only time will … (0 comments)
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