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6.14.2010

When to lock your Georgia Mortgage Loan

This week is fairly busy with five economic reports scheduled to be released. Two of the five are considered to be of high importance to the markets and mortgage rates. The remaining three are of interest to the markets but likely will not cause a large change in mortgage rates unless they vary greatly from forecasts. None of the relevant data is being posted tomorrow or Tuesday, so look for the stock markets to influence bond trading and mortgage rates again.

The first data of the week comes Wednesday when there are three reports scheduled to be posted. The day's reports are a broad spectrum of data ranging from housing figures to manufacturing output to an important inflation reading. Their importance to the markets also is a wide variety. The first report of the day is May's Housing Starts that tracks starts of new home projects. It is the week's least important report and likely will not affect mortgage rates unless its results vary gr eatly from the 2.8% decline that is expected.

The second is one of the two highly important reports of the week. May's Producer Price Index (PPI) will also be posted early Wednesday morning. It helps us measure inflationary pressures at the producer level of the economy. There are two readings of this index, the overall and the core data. The core data is considered to be the more important of the two because it excludes more volatile food and energy prices. A large increase could raise concern about inflation rising as soon as the economy gains some traction. This would not be good news for bond prices or mortgage rates since inflation erodes the value of a bond's future fixed interest payments. Rising inflation causes investors to sell bonds, driving prices lower and mortgage rates higher. Analysts are expecting to see a decline of 0.5% in the overall index and a 0.1% rise in the core data. It will not take much of a variance from forecasts for the markets to re act, which would most likely lead to changes in mortgage rates.

The third and final piece of data scheduled for Wednesday is May's Industrial Production. This report will be released at 9:15 AM ET and is considered to be moderately important. It measures output at U.S. factories, mines and utilities, giving us a fairly important measurement of manufacturing sector strength. If it reveals that production is rising, concerns of manufacturing strength may come into play in the bond market. A larger than expected 0.8% increase would indicate that the manufacturing sector is stronger than expected and would likely help push mortgage rates higher. That is assuming that the PPI doesn't surprise us.

There are two reports scheduled for release Thursday, but one of them is the week's most important and arguably the single most important report we see each month. That is May's Consumer Price Index (CPI). It is very similar to Wednesday's PPI, but measures inflat ionary pressures at the more important consumer level of the economy. It is expected to show a 0.2% drop in the overall reading and a 0.1% increase in the core data. A larger than expected increase in the core reading would most likely lead to a noticeable upward change to mortgage rates Thursday.

May's Leading Economic Indicators (LEI) will be posted late Thursday morning. The Conference Board, who is a New York-based business research group, will post this data. It attempts to predict economic activity over the next three to six months. Good news for mortgage rates would a decline in this index, but the CPI is much more important to the markets than this index. Therefore, if the CPI reveals any surprises, this data will likely have little impact on Thursday's mortgage rates. It is expected to show a 0.4% increase.

Overall, look for Wednesday to be the biggest day of the week. Not just because it brings the release of three of the five reports, but al so because it brings us the PPI that is considered to be a key inflation reading. Thursday is also very important with the CPI being posted, so look for the most movement in rates during the middle part of the week.

If I were considering financing/refinancing a home, I would.... Lock

Georgia mortgage rates Lowest of the year!

What's Ahead For Mortgage Rates This Week : June 14, 2010

Posted: 14 Jun 2010 07:45 AM PDT

Georgia Mortgage markets posted four good days last week and one awful one. Unfortunately for rate shoppers , that one bad day outweighed the gains of the other four and mortgage rates worsened on the week overall.
Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FHA mortgage rates moved higher on the week.
There wasn't much domestic data on which for mortgage markets to move so rates took their cues from global economic activity. Strong data from Japan and China, plus an improving outlook from the Eurozone, sparked optimism among Wall Street investors. Cash poured into the stock market and it happened at the expense of bonds -- including the mortgage-backed ones.
It's the primary reasons rates rose and not even the worst Retail Sales report in 8 months could undue the damage.
Often, weak Retail Sales data causes mortgage rates to fall. Last week, however, that wasn't the case.
This week, there's cause for rates to rise again with Wednesday emerging as a "data day".
First, at 8:30 AM ET, the government releases two key housing statistics and one major gauge for inflation -- Housing Starts, Building Permits and Producer Price Index, respectively. Strength in any or all three should lead mortgage rates higher.
Then, at 5:45 PM ET, Fed Chairman Ben Bernanke makes a public speech and anytime Bernanke speaks, mortgage rates can move.
Georgia Mortgage rates remain unnaturally low and a lot of Americans have taken advantage already. If you're a homeowner and you've wondered whether or not a refinance makes sense, talk to your loan officer straight away. Low rates like this can't last forever so lock one in while you can.

5.03.2010

Georgia Mortgage Rates and News

What's Ahead For Atlanta Mortgage Rates This Week : May 3, 2010

Posted: 03 May 2010 07:45 AM PDT

Mortgage markets improved last week on tame inflation data, a benign statement from the Federal Reserve, and ongoing credit problems in Greece.
The factors combined to drop conforming mortgage rates to their lowest levels in 6 weeks.
It's an unexpected development considering that mortgage rates were supposed to rise post March 31, 2010. That was the day the Fed's support for mortgage markets ended.
Since then, however, a month-long string of devastating economic and meteorological events within the Eurozone sparked a global flight-to-quality that benefited "safe" assets such as mortgage bonds.
May 2010 may not be so kind.
The week starts with news that Greece reached a $147 billion bailout agreement with the IMF Sunday. This is a plus for the Eurozone and mortgage market negative. Rates should rise on the bailout.
Also on Monday, the government releases Personal Consumptions and Expenditures data.
PCE is the Fed's preferred inflation gauge and it's expected to show an annual read of 1.3 percent. Anything higher and rates should rise.
Then, for the rest of the week, employment data takes center stage.

Wednesday : ADP releases its private sector employment data
Thursday : The government releases initial jobless claims
Friday : The government releases April's job report

Jobs are key to the U.S. economic recovery, tied to consumer spending, consumer confidence, and mortgage delinquencies. If job growth is better than expected, mortgage rates should rise. If job growth is worse, rates should fall.
There's no "best day" to lock this week so keep an eye on the market. However, if rates rise as quickly in May as they fell in April, you won't have much time to act. Can I help you with a quote?

4.30.2010

Georgia Mortgage Rates

The Headlines Were Overly Rosy On February's Case-Shiller Index

Posted: 30 Apr 2010 07:45 AM PDT

Case-Shiller Change In Home Values Jan-Feb 2010

Earlier this week, Standard & Poors released its February Case-Shiller Index, a home price tracker for select metropolitan areas.
Overwhelmingly, home values fell in the 20 markets tracked by the Case-Shiller. Only San Diego showed a modest increase. The other 19 markets averaged a 1.23 percent decline between January and February.
However, that's not the story you read in the most papers. Instead, headlines read that home values were up in the United States, citing annualized data.
Unfortunately for active home buyers and sellers, year-over-year data isn't all that helpful when making a real estate decisions. It's the month-to-month data that matters. Month-to-month changes in home prices are what defines a housing market. Month-to-month is what sets the tone for contracts and negotiations on a purchase.
The rosier, annualized data published this past week just doesn't capture the reality of what was the February 2010 market. And even then, the data is somewhat useless because it's from February and May will be upon us next week.
Case-Shiller is on a 2-month lag -- hardly reflective of the "right now" of real estate.
When you're looking for real estate data that actionable, consider using sources that are more "real-time". A real estate agent may be the right place to start. Because for all the data that Case-Shiller and the other housing indices collect, it can never be as relevant to your individual needs as a well-executed, timely market analysis.

1.20.2010

Change your life forever with this secret

It seems like every week our world throws us an obstacle? Together lets work through these times. I found this video to be helpful.
Just take 3 minutes to watch The Strangest Secret movie. If you truly understand the concept, it can change your life forever.

www.thestrangestsecretmovie.com

Thanks,

Peter

Breaking Georgia Mortgage Jumbo FHA VA USDA Rates and News