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Real Estate and Mortgage Market Update for Thursday 05-29-2012

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This is Employment Report week, always a big one for the markets.  ADP will report its estimate for private jobs in May on Thursday then the BLS reports the “official” report on Friday.  In the meantime Europe still dominates overall.  Spain is taking the spotlight on concerns Spanish banks are teetering on the edge and need capital infusion in [...]

Real Estate and Mortgage Market Update for Thursday 05-24-2012

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Thursday’s bond market has opened in negative territory following the release of uneventful economic data and a positive open in stocks. Yesterday’s afternoon recovery rally in stocks appears to be extending into this morning’s trading with the Dow up 31 points and the Nasdaq up 2 points. These aren’t notable gains, but when considering that [...]

Real Estate and Mortgage Market Update for Wednesday 05-23-2012

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Wednesday’s bond market has opened in positive territory due to early stock selling, erasing yesterday’s losses. The stock markets are reacting negatively to unfavorable earnings news and renewed concerns about Greece and its potential impact on the global economy. This has pushed the Dow down 144 points and the Nasdaq down 24 points. The bond market is [...]

Real Estate and Mortgage Market Update for Tuesday 05-22-2012

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Tuesday’s bond market has opened in negative territory despite a lackluster open in stocks and slightly weaker than expected economic news. The Dow is currently up 23 points while the Nasdaq has gained 10 points. The bond market us currently down 15/32, which will likely push this morning’s mortgage rates higher by approximately .250 of a discountpoint over yesterday’s morning pricing. [...]

Real Estate and Mortgage Market Update for Monday 05-21-2012

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The bond and mortgage markets started slightly weaker this morning but have managed to hold close to unchanged with stock indexes trading a little better.  There are no economic reports today.  This week Treasury will auction dollarsignr99B of notes beginning tomorrow through Thursday.  With rates now at historic lows the demand will be the measurement of how well the auctions go off.  [...]

Real Estate and Mortgage Market Update for Friday 05-18-2012

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Friday’s bond market has opened in negative territory with no relevant economic data being posted this morning, erasing a good part of yesterday’s afternoon strength. The stock markets are relatively flat with the Dow up 7 points and the Nasdaq up 1 point. The bond market is currently down 8/32, but due to strength late yesterday we should [...]

Real Estate and Mortgage Market Update for Thursday 05-17-2012

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Thursday’s bond market has opened flat despite a weaker than expected economic report. The stock markets opened in negative territory but have since improved off their earlier lows. The Dow is currently down 9 points while the Nasdaq has lost only 7 points. The bond market is currently unchanged from yesterday’s close, but we will still may [...]

Weekly Economic Summary – Last week in review (May 7 – 11, 2012)

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Last week, the National Association of realtorS® said that of the 146 Metro cities surveyed, home prices rose in 74 of them in Q1 2012. This is up from 29 cities that saw an increasein home prices in Q4 2011. In addition, the National Association of realtorS® stated that inventories for existing homes fell 22% since this time last year [...]

Weekly Economic Forecast Third Week of May 2012

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Interest rates are likely to continue lower on increasing fears Europe is facing defaults from Greece and increasing likelihood Greece will depart the EU.  If Greece were to exit the EU it may set up a domino effect with Ireland, Portugal and Spain to follow.  Europe’s attempt at severe austerity efforts to bring countries” fiscal spending under control has failed.  In [...]

Weekly Economic Summary First Week of May 2012

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The Jobs report showed that 115,000 jobs were created in April, with 130,000 private sector jobs offsetting government job losses. This number was a disappointment and below expectations. The only silver lining in the report were upward revisions to the previous month’s readings which added 53,000 more jobs than what was previously reported. The unemployment rate [...]