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Market Update

By
Real Estate Agent with Rich Sellers Lake Arrowhead, CA (Coldwell Banker)

Market Outlook

 

Thursday, January 22, 2009                   

 

Price Trend: Negative

Price Volatility:  High

Recommendation:  Cautiously Floating   

_________________________________________________________________

 

Current Conditions:                Today's Economic Data (all times PDT)

 

FNMA 4.5          101-03  (-3)                   Jobless Claims                           5:30                 

GNMA 4.5          101-07  (-3)                   Housing Starts                           5:30

10yr Yield          2.578%                         Initial Claims                              5:30

                                                           

_________________________________________________________________

Commentary:

 

All of the economic data due out for the week was released today and none of it was good.  More people lost their jobs than expected and fewer homes are under construction than estimated.  Housing starts were likely impacted by the recent cold weather affecting much of the country but were still horrendous. 

 

Bonds actually had very little reaction to this news.  Treasuries are still being impacted by the supply which will be coming in 2009 as the new administration pushes forward with their economic stimulus plan.  Mortgages are still holding fairly steady (at least compared to treasuries).

 

 

This Week's Calendar:

Date

ET

Release

For

Actual

Briefing.com

Consensus

Prior

Jan 22

08:30 a.m.

Building Permits

Dec

549K

610K

615K

616K

Jan 22

08:30 a.m.

Housing Starts

Dec

550K

605K

610K

625K

Jan 22

08:30 a.m.

Initial Claims

01/17

589K

540K

548K

524K

Jan 22

11:00 a.m.

Crude Inventories

1/16

 

NA

NA

1.14M

  

Posted by
Richard Sellers



E-mail
elitesellers@gmail.com
Website
www.arrowheadlifestyles.com
Office Phone
(909) 336-2131
Cell Phone
(909) 553-1897
Fax
(909) 336-2500
Address
27206 Hwy 189, Blue Jay, CA, 92317
Description
"Life isn't about how to survive the storm, but how to dance in the rain."

Real Estate Broker, DRE CA License #01148405

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Comments (1)

Kim Sellers
Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA
Lake Arrowhead Realtor - BRE#01412099 - Lake Arrow

Great update on the state of finances

Jan 22, 2009 04:29 AM