Most home buyers claim they're picky. And why shouldn't they be? The real estate they buy will be home. It needs to provide more than just a roof over their head. It needs to satisfy emotional needs that aren't easily quantifiable. The home is a reflection of the self, which makes the quest for the right place to buy complicated.
Since the home-buying experience is intermeshed with the psyche of the person in pursuit, there's a psychological component to consider. For example, let's say you have been searching for the right home for years. You haven't seen too many properties that fit the bill, and have only made an offer or two during that timeframe. The property you really loved turned out to be entirely too expensive. You lost out in a multiple-offer competition on a property that was listed too low.
You've come close to making an offer several times, but have backed away after reconsidering. Each property had defects in terms of your ideal wish list. You weren't willing to compromise.
HOUSE HUNTING TIP: Buyers who find they've been looking for the right house for more than six months should pause to consider whether their expectations are in line with reality. For instance, if you want a bay view and a level lot, you may find that you'll wait forever. Bay views tend to be available only in homes that are built on hills. Home buying involves making compromises if you're serious about buying.
In order to decide how you will compromise, you need to research the local housing stock to discover what is realistically possible. In other words, you need to do your homework. The perfect house won't just magically appear. To save time, use the Internet to whittle down the list of homes for sale until you find the ones that suit your needs. Then make a point of visiting these in person, either with a real estate agent or at an open house.
Buyers with pressing needs usually have less of a problem finding the right home to buy. For example, if you live in an area with a school district you don't like and you have children who are about to enter school, you need to move if you can't afford private-school tuition. You have an urgent reason to move that preempts the desire for a perfect house. You'll settle for the right number of bedrooms and baths, a yard and a good school district. You may be willing to give up on the Old World charm or character that you were hoping to find.
You may be getting out and seeing the listings that might work for you and still aren't having success. In this case, you could be suffering from approach-avoidance. This syndrome can keep you from making a decision, even when you see the right house to buy. You come close to making an offer but never carry through.
Buying a home can be frightening, particularly if you are doing it on your own. It's a big commitment, perhaps to a lifestyle that you're not used to. It's helpful to consult with advisors when you find that you're getting nowhere. Talk to a trusted financial advisor to see if you're looking in the right price range. If you're over your head financially, scale back to a level that feels comfortable.
THE CLOSING: It can be useful to reconsider your wish list in terms of what you've learned about your local market and what to expect. By realigning your expectations and readjusting to a comfortable price range, you may feel more comfortable moving ahead
Monday, April 7, 2008
The week in review
A record was broken on the job front last Friday as the Labor Department reported a much worse than expected loss of 80,000 jobs in March - the greatest jobs loss reported in five years. In addition, revisions to both January and February's Jobs Report delivered an additional loss of 67,000 jobs - that's on top of the previously reported loss of 85,000 jobs for that two-month period.And...the story might be even a bit gloomier than it already appears.
The Labor Department uses a lot of averaging to help it come up with its numbers more quickly, but this practice can skew the current picture significantly. Think of it this way - and because it's now baseball season, here's a Baseball analogy - let's say that mid-way through the season, a red-hot hitter with a batting average of 340 declines into a bad slump for several weeks. While he now can't even hit a basketball thrown underhand to him, his average - while lower to 300 - is still very strong due to his previous hot performance. So someone looking at just the statistics may think that this batter is still absolutely terrific, but he is really someone the fans are booing as he approaches the plate. This is not very different from current numbers being reported by the Labor Department - previous averaging is likely causing an understating of the ACTUAL number of job losses...which somewhat masks how bad the job market really is.This bleak Jobs Report greatly boosts the odds of not only a first-quarter recession, but perhaps a worse economic downturn than many economists fear. The Federal Reserve may respond to this increasing trend in job losses with additional interest rate cuts when they next meet to determine monetary policy on April 30 and June 25.
As we've seen in the past though, such rate cuts do not translate into lower long-term rates for mortgages, so there is no better time than right now to refinance an existing mortgage or to structure a new one. Let's work together to make sure your current financing is a home run!SPEAKING OF HOME RUNS, ARE YOUR CREDIT CARD INTEREST RATES IN THE RIGHT BALLPARK...OR WAY OUT OF SIGHT? CHECK OUT THIS WEEK'S MORTGAGE MARKET VIEW FOR TIPS ON MAINTAINING A WINNING CREDIT CARD INTEREST RATE! Forecast for the Week
Another classic Yogi Berra-ism is, "I never said most of the things I said." Luckily, the Fed can't make the same claim. This coming Tuesday, the "Meeting Minutes" or open commentary of the Fed's last monetary policy meeting will be released to the public. If there are inflammatory comments, the market could respond quickly.Remember, when Bond prices move higher, home loan rates move lower. And as you can see in the chart below, Bonds have rebounded higher off of their key 50-day moving average support level, and are moving back toward the upper portion of their current trading range. This means if Bond prices continue to move toward the upper boundary of the range, we could see home loan rates improve slightly.Chart: Fannie Mae 5.5% Mortgage Bond (Friday Apr 04, 2008) The Mortgage Market View...
TAKING AN INTEREST IN YOUR CREDIT CARD RATE...Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.As such, your credit cards can have a major impact on your financial wellbeing and even your credit score. But did you know that your credit score can also impact your credit cards...specifically your interest rates? Although some companies have abandoned the practice, many won't hesitate to raise your interest rate if your credit score declines - even if you are paying them on time! By following these tips, you can help avoid inflated interest rates on your credit cards...and perhaps even enjoy more trips to the ballpark:Understand the terms. The best way to protect yourself from high interest rates and hikes is to read and understand your credit cards policy terms. Pay particular attention to the interest rate, how long that rate is in effect, and what actions can lead to a hike - such as a late payment on your card, a declining credit score, or even a late payment on a completely unrelated bill.Don't be late. Making a late payment can lead to increased interest rates on all your cards. In addition, they can lower your credit score, causing you even more problems down the road. So make a schedule and always pay on time.Watch the mail. We all get junk mail, but some of it may not be junk after all. Whenever you receive any information in the mail from your credit card, read it carefully in case any policies or interest rates are changing.Make a call. If your rate does change, call the company. If you've made your payments on time consistently, you may be able to get your original rate restored. If the company seems hesitant, you may want to threaten to transfer your balances to another card - customers in good standing may find they have more bargaining power than they realize. And don't just threaten to make a change...actually do it if it makes sense. You may find the grass actually is greener on the other side.Be careful what you close. Closing a card that has a current balance will likely send your interest rate soaring. In addition, closing your oldest credit cards can have a negative impact on your overall credit score. So make sure you check and double check which cards are best to close.To find out more about your own credit score - and what you can do to improve it - call me today. You'll be surprised how a few simple steps can make a big difference and can improve your overall financial picture. The Week's Economic Indicator Calendar
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.Economic Calendar for the Week of April 07 – April 11DateETEconomic Report ForEstimateActualPriorImpactTue. April 0802:00FOMC Minutes3/18/08 HIGHWed. April 0910:30Crude Inventories4/05NA 7317KModerateThu. April 1008:30Jobless Claims (Initial)4/05380K 407KModerateThu. April 1008:30Balance of TradeFeb-$57.4B $-58.2BModerateFri. April 1110:00Consumer Sentiment Index (UoM)Apr69.4 69.5Moderate
The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.
The Labor Department uses a lot of averaging to help it come up with its numbers more quickly, but this practice can skew the current picture significantly. Think of it this way - and because it's now baseball season, here's a Baseball analogy - let's say that mid-way through the season, a red-hot hitter with a batting average of 340 declines into a bad slump for several weeks. While he now can't even hit a basketball thrown underhand to him, his average - while lower to 300 - is still very strong due to his previous hot performance. So someone looking at just the statistics may think that this batter is still absolutely terrific, but he is really someone the fans are booing as he approaches the plate. This is not very different from current numbers being reported by the Labor Department - previous averaging is likely causing an understating of the ACTUAL number of job losses...which somewhat masks how bad the job market really is.This bleak Jobs Report greatly boosts the odds of not only a first-quarter recession, but perhaps a worse economic downturn than many economists fear. The Federal Reserve may respond to this increasing trend in job losses with additional interest rate cuts when they next meet to determine monetary policy on April 30 and June 25.
As we've seen in the past though, such rate cuts do not translate into lower long-term rates for mortgages, so there is no better time than right now to refinance an existing mortgage or to structure a new one. Let's work together to make sure your current financing is a home run!SPEAKING OF HOME RUNS, ARE YOUR CREDIT CARD INTEREST RATES IN THE RIGHT BALLPARK...OR WAY OUT OF SIGHT? CHECK OUT THIS WEEK'S MORTGAGE MARKET VIEW FOR TIPS ON MAINTAINING A WINNING CREDIT CARD INTEREST RATE! Forecast for the Week
Another classic Yogi Berra-ism is, "I never said most of the things I said." Luckily, the Fed can't make the same claim. This coming Tuesday, the "Meeting Minutes" or open commentary of the Fed's last monetary policy meeting will be released to the public. If there are inflammatory comments, the market could respond quickly.Remember, when Bond prices move higher, home loan rates move lower. And as you can see in the chart below, Bonds have rebounded higher off of their key 50-day moving average support level, and are moving back toward the upper portion of their current trading range. This means if Bond prices continue to move toward the upper boundary of the range, we could see home loan rates improve slightly.Chart: Fannie Mae 5.5% Mortgage Bond (Friday Apr 04, 2008) The Mortgage Market View...
TAKING AN INTEREST IN YOUR CREDIT CARD RATE...Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.As such, your credit cards can have a major impact on your financial wellbeing and even your credit score. But did you know that your credit score can also impact your credit cards...specifically your interest rates? Although some companies have abandoned the practice, many won't hesitate to raise your interest rate if your credit score declines - even if you are paying them on time! By following these tips, you can help avoid inflated interest rates on your credit cards...and perhaps even enjoy more trips to the ballpark:Understand the terms. The best way to protect yourself from high interest rates and hikes is to read and understand your credit cards policy terms. Pay particular attention to the interest rate, how long that rate is in effect, and what actions can lead to a hike - such as a late payment on your card, a declining credit score, or even a late payment on a completely unrelated bill.Don't be late. Making a late payment can lead to increased interest rates on all your cards. In addition, they can lower your credit score, causing you even more problems down the road. So make a schedule and always pay on time.Watch the mail. We all get junk mail, but some of it may not be junk after all. Whenever you receive any information in the mail from your credit card, read it carefully in case any policies or interest rates are changing.Make a call. If your rate does change, call the company. If you've made your payments on time consistently, you may be able to get your original rate restored. If the company seems hesitant, you may want to threaten to transfer your balances to another card - customers in good standing may find they have more bargaining power than they realize. And don't just threaten to make a change...actually do it if it makes sense. You may find the grass actually is greener on the other side.Be careful what you close. Closing a card that has a current balance will likely send your interest rate soaring. In addition, closing your oldest credit cards can have a negative impact on your overall credit score. So make sure you check and double check which cards are best to close.To find out more about your own credit score - and what you can do to improve it - call me today. You'll be surprised how a few simple steps can make a big difference and can improve your overall financial picture. The Week's Economic Indicator Calendar
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.Economic Calendar for the Week of April 07 – April 11DateETEconomic Report ForEstimateActualPriorImpactTue. April 0802:00FOMC Minutes3/18/08 HIGHWed. April 0910:30Crude Inventories4/05NA 7317KModerateThu. April 1008:30Jobless Claims (Initial)4/05380K 407KModerateThu. April 1008:30Balance of TradeFeb-$57.4B $-58.2BModerateFri. April 1110:00Consumer Sentiment Index (UoM)Apr69.4 69.5Moderate
The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.
Wednesday, April 2, 2008
Seattle Market Bubble ?
As I have been telling my clients for months now
The market is going down now its in the news
http//www.youtube.com/watch?v=wq42Yba52dY
Erik Friele
The Resuts Team
Remax Central Associates
Erik@Wa-Homes.com
http://www.wa-homes.com/
The market is going down now its in the news
http//www.youtube.com/watch?v=wq42Yba52dY
Erik Friele
The Resuts Team
Remax Central Associates
Erik@Wa-Homes.com
http://www.wa-homes.com/
Saturday, March 29, 2008
Welcome To Summerfield Condos
Summerfield is located on 4th ave S just South of S 156th St in Burien Wa Currenty there are 2 Condos for sale a 1 Bedroom 1.25 Bath offered at $136,000 & a 2 Bedroom 1.25 Bath offered at $175,000 this is the first 2 bedroom offer since http://www.realestateshows.com/266968
Monday, March 24, 2008
Money Market in review
"DARLING, I DON'T KNOW WHY I GO TO EXTREMES...TOO HIGH OR TOO LOW, THERE AIN'T NO IN-BETWEENS..." Billy Joel The financial markets endured another week of extreme bipolar behavior, with enormous intra-day mood swings that normally wouldn't be seen over the course of several weeks. While Bonds and home loan rates wildly rocketed higher and plummeted lower on a daily basis throughout the week, fixed home loan rates ended up improved by about .25% for the week overall. And last week...the action started unusually early, stemming from some almost unprecedented weekend actions by the Fed.
Last Sunday night, the news broke that the Fed had not only decided to make a move to lower the Discount Rate by .25%, just two days ahead of when their normally scheduled announcement would arrive, but also that they had helped facilitate the bailout of investment giant Bear Stearns. The 85-year-old company had its stock purchased by JPM Chase at $2 per share, for $236 Million...yep, that's Million with an M. Bear Stearns was trading near $90 at the end of February, with a 52-week high near $160. Bear Stearns was the number one buyer of sub-prime home loans, with a huge appetite for this type of paper - and they bought sub-prime transactions with both fists, a strategy that certainly came back to haunt them.
Adding to the manic-depressive mix was a huge news day on Tuesday, starting with earnings and outlook from two other major financial players - Goldman Sachs and Lehman Brothers - who reported much more positive results than had been anticipated. Particularly on the heels of the Bear Stearns situation, this was very welcome news to a jittery Stock market. New construction numbers came out mixed, along with a hotter than expected read on wholesale inflation via the Producer Price Index...and as if it all weren't enough already, the Fed released their official decision to cut the Fed Funds Rate by .75%. Many people expected a deeper cut, but they likely kept the cut to only .75% because of continuing fears of inflation.
But wait...there's still more. On Wednesday, investment banker Morgan Stanley also came out with a great earnings report, which again was seen as good news by the Stock market, but pulled money out of Bonds. But then...along came big news from the Office of Federal Housing Enterprise Oversight (OFHEO), who announced that they lifted special capital restrictions that had been put in place for both Fannie Mae and Freddie Mac. This will allow these firms to pump $200 Billion into the mortgage market by way of buying Mortgage Bonds. The anticipated increase in demand was very good news for Bonds and home loan rates, which immediately improved on the news.
WHEW! ALL THE CRAZY MARKET ACTION HAS YOU WORN OUT? TAKE A BREATHER AND THINK ABOUT SOMETHING NOT SO STRESSFUL...BUYING A VEHICLE. OK, SO MOST WOULDN'T CONSIDER THAT A STRESS-FREE EVENT, BUT GET SOME GREAT TIPS ON BUYING VS LEASING IN THIS WEEK'S MORTGAGE MARKET VIEW!
Forecast for the Week
So after all that...what lies in wait as the markets reopen following the holiday weekend? Yet another action packed economic calendar. We'll get a look at the housing market via the latest numbers on both New and Existing Homes Sales, but the report voted most likely to influence the markets will be Friday's Personal Income and Spending report with its imbedded data on Core Personal Consumption Expenditures (PCE)...which just happens to be the Federal Reserve's favorite measure of consumer inflation.
Particularly on the heels of the most recent rate cut, this report will take special significance. The Fed would like to see a core inflation rate below 2.0%, but with Bernanke and crew preferring to fight a looming recession with their continuing series of rate cuts, rather than targeting inflation with rate hikes, this will be a tough target to reach for the foreseeable future.
Since inflation is the enemy of fixed return investments like Bonds, a jump higher in the Core PCE on Friday could cause Bond prices to worsen quickly, and home loan rates pop higher.
Chart: Fannie Mae 5.5% Mortgage Bond (Friday Mar 21, 2008)
The Mortgage Market View...
Buying versus Leasing: Two Sides of the Same Coin
Despite claims to the contrary, there really is no one-size-fits-all answer to the question of whether to buy or lease a car. In either scenario, a portion of every payment is lost to depreciation, even with the best interest rate attached. With this in mind, consider your own lifestyle needs and priorities at the time of each transaction.
Benefits of Leasing:
Lease payments are generally between 30%-60% lower than car loan payments.
It's as if you have a guaranteed buyer of your vehicle at a specified price when the lease is up. If the vehicle is worth more, you can sell it on the market and pocket the gain, if it is worth less than the lease buyout value, you just hand over the keys.
Little or no down payment is required for a lease, freeing up cash for investments with a better return.
Benefits of Buying:
With the purchase of a car, significant trade-in or re-sale value can accumulate.
There are no surprise fees or charges after the fact, for wear and tear or overuse.
Once your loan is paid off, you will have something tangible to show for the money you have spent over the years.
The Week's Economic Indicator Calendar
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
Economic Calendar for the Week of March 24 – March 28
Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. March 24
10:00
Existing Home Sales
Feb
4.86M
4.89M
Moderate
Tue. March 25
10:00
Consumer Confidence
Mar
75.0
75.0
Moderate
Wed. March 26
08:30
Durable Goods Orders
Feb
1.0%
-5.3%
Moderate
Wed. March 26
10:00
New Home Sales
Feb
580K
588K
Moderate
Wed. March 26
10:30
Crude Inventories
3/22
NA
133K
Moderate
Thu. March 27
08:30
Jobless Claims (Initial)
3/22
360K
378K
Moderate
Thu. March 27
08:30
Chain Deflator
Q4
2.7%
2.7%
Moderate
Thu. March 27
08:30
Gross Domestic Product (GDP)
Q4
0.6%
0.6%
Moderate
Fri. March 28
08:30
Personal Income
Feb
0.3%
0.3%
Moderate
Fri. March 28
08:30
Personal Spending
Feb
0.2%
0.4%
Moderate
Fri. March 28
08:30
Personal Consumption Expenditures and Core PCE
Feb
0.2%
0.3%
HIGH
Fri. March 28
08:30
Personal Consumption Expenditures and Core PCE
YOY
2.0%
2.2%
HIGH
Fri. March 28
10:00
Consumer Sentiment Index (UoM)
Mar
71.0
70.5
Moderate
The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.
As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.
Last Sunday night, the news broke that the Fed had not only decided to make a move to lower the Discount Rate by .25%, just two days ahead of when their normally scheduled announcement would arrive, but also that they had helped facilitate the bailout of investment giant Bear Stearns. The 85-year-old company had its stock purchased by JPM Chase at $2 per share, for $236 Million...yep, that's Million with an M. Bear Stearns was trading near $90 at the end of February, with a 52-week high near $160. Bear Stearns was the number one buyer of sub-prime home loans, with a huge appetite for this type of paper - and they bought sub-prime transactions with both fists, a strategy that certainly came back to haunt them.
Adding to the manic-depressive mix was a huge news day on Tuesday, starting with earnings and outlook from two other major financial players - Goldman Sachs and Lehman Brothers - who reported much more positive results than had been anticipated. Particularly on the heels of the Bear Stearns situation, this was very welcome news to a jittery Stock market. New construction numbers came out mixed, along with a hotter than expected read on wholesale inflation via the Producer Price Index...and as if it all weren't enough already, the Fed released their official decision to cut the Fed Funds Rate by .75%. Many people expected a deeper cut, but they likely kept the cut to only .75% because of continuing fears of inflation.
But wait...there's still more. On Wednesday, investment banker Morgan Stanley also came out with a great earnings report, which again was seen as good news by the Stock market, but pulled money out of Bonds. But then...along came big news from the Office of Federal Housing Enterprise Oversight (OFHEO), who announced that they lifted special capital restrictions that had been put in place for both Fannie Mae and Freddie Mac. This will allow these firms to pump $200 Billion into the mortgage market by way of buying Mortgage Bonds. The anticipated increase in demand was very good news for Bonds and home loan rates, which immediately improved on the news.
WHEW! ALL THE CRAZY MARKET ACTION HAS YOU WORN OUT? TAKE A BREATHER AND THINK ABOUT SOMETHING NOT SO STRESSFUL...BUYING A VEHICLE. OK, SO MOST WOULDN'T CONSIDER THAT A STRESS-FREE EVENT, BUT GET SOME GREAT TIPS ON BUYING VS LEASING IN THIS WEEK'S MORTGAGE MARKET VIEW!
Forecast for the Week
So after all that...what lies in wait as the markets reopen following the holiday weekend? Yet another action packed economic calendar. We'll get a look at the housing market via the latest numbers on both New and Existing Homes Sales, but the report voted most likely to influence the markets will be Friday's Personal Income and Spending report with its imbedded data on Core Personal Consumption Expenditures (PCE)...which just happens to be the Federal Reserve's favorite measure of consumer inflation.
Particularly on the heels of the most recent rate cut, this report will take special significance. The Fed would like to see a core inflation rate below 2.0%, but with Bernanke and crew preferring to fight a looming recession with their continuing series of rate cuts, rather than targeting inflation with rate hikes, this will be a tough target to reach for the foreseeable future.
Since inflation is the enemy of fixed return investments like Bonds, a jump higher in the Core PCE on Friday could cause Bond prices to worsen quickly, and home loan rates pop higher.
Chart: Fannie Mae 5.5% Mortgage Bond (Friday Mar 21, 2008)
The Mortgage Market View...
Buying versus Leasing: Two Sides of the Same Coin
Despite claims to the contrary, there really is no one-size-fits-all answer to the question of whether to buy or lease a car. In either scenario, a portion of every payment is lost to depreciation, even with the best interest rate attached. With this in mind, consider your own lifestyle needs and priorities at the time of each transaction.
Benefits of Leasing:
Lease payments are generally between 30%-60% lower than car loan payments.
It's as if you have a guaranteed buyer of your vehicle at a specified price when the lease is up. If the vehicle is worth more, you can sell it on the market and pocket the gain, if it is worth less than the lease buyout value, you just hand over the keys.
Little or no down payment is required for a lease, freeing up cash for investments with a better return.
Benefits of Buying:
With the purchase of a car, significant trade-in or re-sale value can accumulate.
There are no surprise fees or charges after the fact, for wear and tear or overuse.
Once your loan is paid off, you will have something tangible to show for the money you have spent over the years.
The Week's Economic Indicator Calendar
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
Economic Calendar for the Week of March 24 – March 28
Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. March 24
10:00
Existing Home Sales
Feb
4.86M
4.89M
Moderate
Tue. March 25
10:00
Consumer Confidence
Mar
75.0
75.0
Moderate
Wed. March 26
08:30
Durable Goods Orders
Feb
1.0%
-5.3%
Moderate
Wed. March 26
10:00
New Home Sales
Feb
580K
588K
Moderate
Wed. March 26
10:30
Crude Inventories
3/22
NA
133K
Moderate
Thu. March 27
08:30
Jobless Claims (Initial)
3/22
360K
378K
Moderate
Thu. March 27
08:30
Chain Deflator
Q4
2.7%
2.7%
Moderate
Thu. March 27
08:30
Gross Domestic Product (GDP)
Q4
0.6%
0.6%
Moderate
Fri. March 28
08:30
Personal Income
Feb
0.3%
0.3%
Moderate
Fri. March 28
08:30
Personal Spending
Feb
0.2%
0.4%
Moderate
Fri. March 28
08:30
Personal Consumption Expenditures and Core PCE
Feb
0.2%
0.3%
HIGH
Fri. March 28
08:30
Personal Consumption Expenditures and Core PCE
YOY
2.0%
2.2%
HIGH
Fri. March 28
10:00
Consumer Sentiment Index (UoM)
Mar
71.0
70.5
Moderate
The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.
As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.
Monday, March 10, 2008
Home care Tip #1
Yard Care
To maintain heathy lawn the soil needs good texture.
certain nutrients and proper balance of acidity/alkalinity (ph level). A local nuursery or country extension expert can help to choose the fertilizer, compost and other soil treatments appropriate for your area.
Erik Friele
Remax Central Associates
206-384-0632
Erik@Wa-Homes.com
visit these fine websites
http://www.wa-homes.com/
For info on homes around Western Washington
http://www.mcmickenrealty.com/
For info on homes around Seatac
http://www.threetreepointrealty.com/
For info on homes around Three Tree Point & Burien Waterfront Homes
http://www.bellevuerealtysearch.com/
For info on homes in and around Bellevue
http://www.thesnoqualmieridge.com/
For info on homes around Snoqualmie Ridge
http://www.clydehill-homes.com/
For info on Luxury Homes in Clyde Hill , Yarrow Point ,Mercer Island, Hunts Point & Medina
To maintain heathy lawn the soil needs good texture.
certain nutrients and proper balance of acidity/alkalinity (ph level). A local nuursery or country extension expert can help to choose the fertilizer, compost and other soil treatments appropriate for your area.
Erik Friele
Remax Central Associates
206-384-0632
Erik@Wa-Homes.com
visit these fine websites
http://www.wa-homes.com/
For info on homes around Western Washington
http://www.mcmickenrealty.com/
For info on homes around Seatac
http://www.threetreepointrealty.com/
For info on homes around Three Tree Point & Burien Waterfront Homes
http://www.bellevuerealtysearch.com/
For info on homes in and around Bellevue
http://www.thesnoqualmieridge.com/
For info on homes around Snoqualmie Ridge
http://www.clydehill-homes.com/
For info on Luxury Homes in Clyde Hill , Yarrow Point ,Mercer Island, Hunts Point & Medina
Monday, February 25, 2008
Current Mortgage Outlook
Bond prices and home loan rates swung wildly all of last week. Mortgage Bonds bounced around so dramatically, that home loan rates changed as much as a quarter percent during a single day, on two separate occasions last week. After all the exhausting action, home loan rates worsened by about .25% for the week overall.
Bonds hate inflation because over time, it erodes the purchasing power of the fixed of return they provide. And when consumer inflation was reported at its highest level in years, Bonds were hit hard. But some weak data on both Housing and Manufacturing, along with some sweet comments from the Fed, helped pour some sugar on Bonds as they rallied back and improved.
But wait...just when you thought the party was over, Mr. Excitement, Dallas Fed President and voting FOMC member Richard "Loose Lips" Fisher grabbed the stage. A known inflation hawk, who often blurts market moving comments in an almost uncontrolled fashion, "Loose Lips" lived up to his wild reputation by roiling the Bond market with warnings about inflation and the credit markets.
AND WHILE BONDS MAY BE ACTING SICK FROM TOO MUCH SUGAR, YOU LIKELY KNOW SOMEONE WHO HAS RECENTLY BEEN SHOWING SOME FLU LIKE SYMPTOMS. THIS YEAR'S FLU SEASON IS ONE OF THE WORST EVER. FIND OUT WHY, AND HOW TO BETTER PROTECT YOURSELF IN THIS WEEK'S MORTGAGE MARKET VIEW.
Forecast for the Week
If you like economic reports with the letter "P"...this is your kind of week. PPI, a measure of wholesale inflation will be reported along with PCE, which is the Fed's favored measure of consumer inflation. Additionally, GDP, and the Purchasing Managers Index will give us a look at the strength of the economy. Also in the mix are potential market movers like Durable Goods and Existing Home Sales.
A look at the chart below shows how the Bond has been bouncing off the walls of the 100 and 200-day Moving Averages. It is likely that this pattern will continue amidst all the economic data to be released. And because the range between these two boundaries is so wide, there will probably be more huge price swings ahead.
Chart: Fannie Mae 5.5% Mortgage Bond (Friday Feb 22, 2008)
Erik Friele
Remax Central Associates
206-384-0632
Erik@Wa-Homes.com
visit these fine websites
http://www.wa-homes.com For info on homes around Western Washington
http://www.McMickenRealty.com For info on homes around Seatac
Http://www.threetreepointrealty.com For info on homes around Three Tree Point & Burien Waterfront Homes
http://www.bellevuerealtysearch.com For info on homes in and around Bellevue
http://www.thesnoqualmieridge.com For info on homes around Snoqualmie Ridge
http://www.clydehill-homes.com For info on Luxury Homes in Clyde Hill , Yarrow Point ,
Mercer Island, Hunts Point & Medina
Bonds hate inflation because over time, it erodes the purchasing power of the fixed of return they provide. And when consumer inflation was reported at its highest level in years, Bonds were hit hard. But some weak data on both Housing and Manufacturing, along with some sweet comments from the Fed, helped pour some sugar on Bonds as they rallied back and improved.
But wait...just when you thought the party was over, Mr. Excitement, Dallas Fed President and voting FOMC member Richard "Loose Lips" Fisher grabbed the stage. A known inflation hawk, who often blurts market moving comments in an almost uncontrolled fashion, "Loose Lips" lived up to his wild reputation by roiling the Bond market with warnings about inflation and the credit markets.
AND WHILE BONDS MAY BE ACTING SICK FROM TOO MUCH SUGAR, YOU LIKELY KNOW SOMEONE WHO HAS RECENTLY BEEN SHOWING SOME FLU LIKE SYMPTOMS. THIS YEAR'S FLU SEASON IS ONE OF THE WORST EVER. FIND OUT WHY, AND HOW TO BETTER PROTECT YOURSELF IN THIS WEEK'S MORTGAGE MARKET VIEW.
Forecast for the Week
If you like economic reports with the letter "P"...this is your kind of week. PPI, a measure of wholesale inflation will be reported along with PCE, which is the Fed's favored measure of consumer inflation. Additionally, GDP, and the Purchasing Managers Index will give us a look at the strength of the economy. Also in the mix are potential market movers like Durable Goods and Existing Home Sales.
A look at the chart below shows how the Bond has been bouncing off the walls of the 100 and 200-day Moving Averages. It is likely that this pattern will continue amidst all the economic data to be released. And because the range between these two boundaries is so wide, there will probably be more huge price swings ahead.
Chart: Fannie Mae 5.5% Mortgage Bond (Friday Feb 22, 2008)
Erik Friele
Remax Central Associates
206-384-0632
Erik@Wa-Homes.com
visit these fine websites
http://www.wa-homes.com For info on homes around Western Washington
http://www.McMickenRealty.com For info on homes around Seatac
Http://www.threetreepointrealty.com For info on homes around Three Tree Point & Burien Waterfront Homes
http://www.bellevuerealtysearch.com For info on homes in and around Bellevue
http://www.thesnoqualmieridge.com For info on homes around Snoqualmie Ridge
http://www.clydehill-homes.com For info on Luxury Homes in Clyde Hill , Yarrow Point ,
Mercer Island, Hunts Point & Medina
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