Bay Area Mortgage & Market Update for March 15th

Mortgage and Market Update

Economic News...Can wait ‘til next week since there is not much going on.....

Random St. Patrick’s Day Facts....

• March 17th is the feast of St. Patrick, the patron saint of Ireland who is believed to have died on that date in the year 461AD.
• According to the last US Census, 34 million Americans have Irish ancestry. That's nearly nine times the entire population of Ireland!
• Every year the Chicago River is dyed green in honor of the holiday. The dye only lasts a few hours.
• It is estimated that there about 10,000 ordinary 3 leaf clovers for every one lucky 4 leaf clover.
• A spokesperson for Guinness claims that on any given day 5.5 million pints of the ale are consumed around the world - but on St. Patrick's Day that number soars to 13 million!
• The first St. Patrick's Day parade took place in Boston in 1737 and it is still a yearly tradition there.
• St. Patrick's Day is not just a national holiday in Ireland. It is a provincial holiday in the Canadian province of Newfoundland and Labrador.  It is also a public holiday on the Caribbean island of Monserrat, which was settled by the Irish.
• There are nine cities in the US named Dublin. The largest is Dublin, Ohio. And we have a Dublin the Bay Area too which has a great weekend celebration planned!!!
• McDonalds has served its seasonal Shamrock Shake since 1970.
• St. Patrick wasn't Irish! He was said to have been born in either Scotland or Wales. Also, he didn't actually chase snakes out of Ireland because there have never been snakes on the island.

Mortgage Markets...Mortgage rates are finishing the week on a more positive tone. The 10 Year Note is currently trading at 1.994% versus last week’s closing level of 2.058%.

Next Week’s Market Moving Reports...Monday: Housing Market Index Tuesday: Housing Starts Wednesday: Federal Open Market Committee Meeting Announcement, FOMC Forecasts, FED Chairman’s Comments Thursday: Jobless Claims, Existing Home Sales

While I do not originate loans I make it a habit to keep abreast of mortgage & market conditions. If you are thinking of purchasing a home the first step is to meet with a mortgage professional. I will gladly provide several top-notch Bay Area advisers for your review if you are in need of a referral.