mortgage: Buyer's Agents, Are You Tired of Unresponsive REO Listing Agents???
- 09/18/10 09:11 AM
Buyer's Agents, are you tired of REO Listing Agents not returning your phone calls and e-mails????? If you are, then do you part to help out. Learn more about REO's. REO Listing Agents get tons of phone calls on their listings. In the first few days of a property being listed for sale or the days immediately after a price reduction, activity on the property is typically at its peak. Just like you and I, they only have xxxx number of hours in the day. Often times, they get more phone calls and emails that can realistically be responded to. … (7 comments)
mortgage: Atlanta, GA Market Update - September 17, 2010
- 09/17/10 02:35 PM
Mortgage Bonds opened in positive territory this morning. This comes after the Labor Department announced that the Consumer Price Index (CPI) came in near expectations with an increase of 0.3%. July experienced a similar increase. The CPI is gauge used to measure inflation. Excluding volatile food and energy prices, the core rate was unchanged. This is slightly lower than the increase of 0.1% that economists had predicted. This reading helped to reinforce the Fed' claim that inflation remains under control.
The University of Michigan consumer sentiment index declined to 66.6 in September. This reading is down from 68.9 in August. It is also worse … (0 comments)
mortgage: Atlanta, GA Market Update - September 16, 2010
- 09/16/10 01:33 PM
Once again, Mortgage Bonds opened lower this morning. This comes after a rough afternoon of trading yesterday which results in a worsening of mortgage rates late in the day. Today's economic news is mixed bag. The Initial Claims were lower than expectations. The inflation at the wholesale level in the form of the Producer price Index was slightly better than anticipated. In the week ending September 11, jobless claims fell from 453,000 to 450,00. This beat the expectations of 460,000. For the second month in a row, the Philadelphia Fed Index of manufacturing came in negative. It did … (0 comments)
mortgage: Atlanta, GA Market Update - September 15, 2010
- 09/16/10 05:33 AM
Mortgage Bonds opened lower on Wednesday morning. This comes after less than stellar manufacturing data was released. New York 's Empire Manufacturing Index dropped to 4.1 in September. This is down significantly from the August's 7.1 reading. Analysts has only predicted a decline of 6.4. August saw industrial production rose slightly to 0.2%. This is 0.1% less than the 0.3% reading that was anticipated. July's number was a revised 0.6%. Mortgage Bonds continue to be pressure by the Stock market.
… (0 comments)
mortgage: Freddie Mac Adds First Look Initiative to It's HomeSteps REO Properties
- 09/15/10 06:19 AM
The Freddie Mac First Look Initiative now gives home buyers 15 days of exclusive access to buy a HomeSteps property as their primary residence. Freddie Mac announced today that it is expanding the Freddie Mac First Look Initiative on its HomeSteps listings. The First Look Initiative goes into effect on September 17, 2010. According to Chris Bowden, Vice President, HomeSteps, "Expanding the Freddie Mac First Look Initiative emphasizes Freddie Mac's commitment to manage its REO inventory to help stabilize communities, foster affordable homeownership opportunities, and responsibly safeguard tax dollars." What is HomeSteps? HomeSteps is the national real estate sales unit of … (4 comments)
mortgage: Atlanta, GA Market Update - September 14, 2010
- 09/14/10 05:33 AM
The momentum gained from yesterday's rally also carries through to today. Treasuries and mortgage bonds once again opened to high levels. This rally comes as economic growth is still of concern. Economic data this morning revealed better than expected results. Retails sales increased .04% in August. This follows a downwardly revised 0.3% increase in July. It is also slightly better than the previously forecasted 0.3% increase. It is the highest reading in the last five months. Since the August 2009 reading was higher, this shows that the economy has slowed. July saw business inventories increase by 1%. This is up 0.3% over the … (4 comments)
mortgage: 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)
mortgage: 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)
mortgage: 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)
mortgage: 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)
mortgage: 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.
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)
mortgage: 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)
mortgage: 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)
mortgage: 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)
mortgage: 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)
mortgage: 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)
mortgage: Do You Need a New Credit Report Before Closing??? - Fannie Mae Clarifies Its Position
- 08/30/10 05:24 AM
Fannie Mae clarifies its position on requiring a second credit report just before closing. Borrowers sometimes think that once they get their underwriting approval, that they now have the green light to go shopping for everything from new furniture to appliances to maybe even a new car. However, that is far from the truth. At closing, the borrower must sign the loan application which lists all of their income/asset information. Signing this form attests to the fact that there has been no significant change in the information listed. Any major purchase would be a significant material change. How exactly to … (2 comments)
mortgage: 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)
Buyer's Agents, are you tired of REO Listing Agents not returning your phone calls and e-mails????? If you are, then do you part to help out. Learn more about REO's. 
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