Special offer

Market Update

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

Market Outlook

 

Thursday, January 29, 2009                

 

Price Trend: Negative

Price Volatility:  High

Recommendation:  Floating   

_________________________________________________________________

 

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

 

FNMA 4.5          101-03  (-4)                   Jobless Claims                                       5:30      GNMA 4.5          101-03  (-5)                   Durable Goods Orders                             5:30

10yr Yield          2.687%                         New Home Sales                                    10:00

                                                           

_________________________________________________________________

Commentary:

 

Yesterday's Fed announcement was not exactly what the market was looking for.  Although the statement mentioned the Fed's continued purchases of MBS and Treasuries, it was rather vague about the extent of their intentions. 

 

This morning's MBS pricing is being most heavily influenced by selling from originators (mortgage bankers) which is not being met with adequate demand.  All of the data released this morning showed continued weakness in the economy and is probably providing a little price support. 

 

Tomorrow will see the release of 2008 Q4 GDP.  It is expected to be very bad.  It would seem that there is little chance of a rally if the number is worse than expected (-5.5%).  There is some risk of further selling if it comes in better, but that isn't likely.

 

This Week's Calendar:

Date

ET

Release

For

Actual

Briefing.com

Consensus

Prior

Jan 26

10:00 a.m.

Existing Home Sales

Dec

4.74M

4.40M

4.40M

4.49M

Jan 26

10:00 a.m.

Leading Indicators

Dec

.03%

-0.5%

-0.3%

-0.4%

Jan 27

09:00 a.m.

Consumer Confidence

Jan

37.7

39.0

38.0

38.0

Jan 27

09:00 a.m.

S&P/CaseShiller Composite

Nov

-18.18

NA

NA

-18.04%

Jan 28

10:30 a.m.

Crude Inventories

01/23

 

NA

NA

6.1 mln

Jan 28

02:15 p.m.

FOMC Rate Decision

Jan. 28

 

NA

NA

0-0.25

Jan 29

08:30 a.m.

Durable Orders

Dec

-2.6%

-2.2%

-1.8%

-1.5%

Jan 29

08:30 a.m.

Initial Claims

01/24

588K

580K

575K

585K

Jan 29

10:00 a.m.

New Home Sales

Dec

331K

400K

400K

407K

Jan 30

08:30 a.m.

Chain Deflator-Adv.

Q4

 

0.5%

0.6%

3.9%

Jan 30

08:30 a.m.

GDP-Adv.

Q4

 

-5.5%

-5.4%

-0.5%

Jan 30

09:45 a.m.

Chicago PMI

Jan

 

33.5

34.0

34.1

Jan 30

09:55 a.m.

Mich Sentiment-Rev

Jan

 

62.0

61.9

61.9

Jan 30

10:00 a.m.

Employment Cost Index

Q4

 

0.7%

0.7%

0.7%

  

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

Lake Arrowhead Homes ~ Lake Arrowhead Real Estate ~ Lake Arrowhead Realtor ~ Coldwell Banker Sky Ridge ~ Republican Women of Lake Arrowhead ~ Mt Calvary Lutheran Church ~ Lake Arrowhead Country Club ~ Lake Arrowhead Yacht Club ~ Lake Arrowhead Chamber of Commerce ~ Lake Arrowhead Lifestyle ~ Lake Arrowhead Lifestyles ~ Lake Arrowhead Realtor ~ Coldwell Banker ~ Arrowhead Lifestyles ~ Lake Arrowhead Lake Front Homes ~ Lakefront ~ Golf Course Lake Arrowhead ~ Lake Arrowhead Blog ~ Lake Arrowhead Lifestyles Blog ~ Lake Arrowhead Dock ~ Rim Football ~ Docks for Sale


Comments (1)

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

Great information Richard, I am sure you are excellent at your job.

Jan 29, 2009 06:07 AM