Danny Salas

Archive for September 9th, 2009

Chico, CA Interest Rates Market Report – Economic Influences – September 9, 2009

Keeping A Finger On The Lock Button, Watching the 200-Day Moving Average

3-Year Treasury Auction Bids Well

The Auction for the Treasury Departments 3-Year Note fared quite well yesterday.  I, nervously however, still have my finger on the lock button, as we hover right around the 200-Day Moving Average. 

Why So Nervous?

The nervousness is regarding today’s announcement of how well the 10-Year Treasury Auction went, compared to yesterday’s Auction.  The longer the term, the higher the risk.  The Annoucement of the Auction will be release at 10:00 a.m., PST.

Fed Beige Book Released Today

This will give insight into each Federal Reserve District and how the economy if doing in each of these areas.  This could also shake up the interest rate situation.

$8,000 Tax Credit Ending

Think about this.  If you are a fence sitter, or have clients that aren’t moving on a purchase, you don’t have long for them to qualify for the $8,000 Tax Credit.  It expires 11/30/09.  So, if you’re negotiating for an offer, and get into escrow next week; you’ll have if your escrow goes over 60 days, you’ll only have two more weeks to close the deal, and qualify!  There is talk about a Mortgage-Backed Security Purchase extension, and a First-Time Home Buyer Tax Credit Extension, but at this point, it’s only talk.