Danny Salas

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Chico, CA Interest Rates Market Report – Economic Influences – March 19, 2010

Danny's 2nd Office

YOU DON’T WANT TO MISS THIS EVENT!!!

Scott St. John will be speaking at The Big Room At Sierra Nevada The , Friday, March 26, 2010.  Scott is a 3rd-Term Governing Board Member of Freddie Mac.  You’ll have an opportunity to inquire into expected economic future of the United States, Real Estate and its REO future, and what’s happening behind the scenes that is making closing loans to more timely and difficult, these days.   REGISTER AT THE CHICO OR PARADISE BOARD OFFICES.  $10 includes appetizers.  $15.00 AT THE DOOR!

JUST ANNOUNCED!!!!

Joining us on Friday, March 26th is Private Mortgage Insurance Company’s (PMI) own Nancy Early.

Nancy has been with PMI for 8 years and in the Mortgage Industry for 25 years. She supports  Northern and Central California, Northwest Nevada and Hawaii and lives in Roseville, California.  Come learn about some of the structured transactions that MI companies are using to lower buyer’s monthly obligations.  We’re excited to add her to the venue.

We Were Down 19, To Be Par Already Today

Rates Taking Direction From Stocks

There are no market mover announcements effecting interest rates, today, so technical factors will influence Mortgage-Backed Securities’ direction.  And that they have done!  Typical to common markets, Stocks shot off this morning, causing rates to increase, relatively substantially, until, yet another credit rating company announced their concern over the AAA rating of large economies, including the United States.  Fitch Ratings mentioned that the United States has some difficult decisions to make regarding spending.  Thanks for that enlightening information, Fitch.  With that announcement, rates came plummeting back down, and Stocks did, too.

Short For Time Periods...May As Well Lock

Locking Advice

Read yesterday’s advice.  It still stands!

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Chico, CA Interest Rates Market Report – Economic Influences – March 18, 2010

The Big Room At Sierra Nevada Brewing Company

YOU DON’T WANT TO MISS THIS EVENT!!!

Scott St. John will be speaking at The Big Room At Sierra NevadaThe , Friday, March 26, 2010.  Scott is a 3rd-Term Governing Board Member of Freddie Mac.  You’ll have an opportunity to inquire into expected economic future of the United States, Real Estate and its REO future, and what’s happening behind the scenes that is making closing loans to more timely and difficult, these days.   REGISTER AT THE CHICO OR PARADISE BOARD OFFICES.  $10 includes appetizers.  $15.00 AT THE DOOR!

CPI Reads Low Inflation

The Consumer Price Index was reported at a 0.0% level.  It’s a testimony to the Fed’s Decision to keep rates low for “an extended period” of time.

Labor Market Numbers

So, Emergency Unemployment Compensation (EUC) numbers are going through the roof!  An additional 360,000 people are requesting these claims and those numbers aren’t even a part of the Initial Jobless Claims Numbers.  Until we have jobs numbers changing, the real estate market will not benefit or substantially grow.  That’s the secret!  More than low rates!

Short For Time Periods...May As Well Lock

Locking Advice

Same story as the last few days.  If you float, prices can’t get much better, so you may as well lock.  The benefit of this scenario is that if you have a 60 day escrow, as opposed to a 30 day escrow, the cost to hold your interest rate is greater for that greater period of time.  So, if we continue to be in a “float, ’til the market changes,” mode, than you have an opportunity to NOT lock into a rate, until the market changes…saving the cost for a longer lock period.

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Chico, CA Interest Rates Market Report – Economic Influences – March 17, 2010

Happy St. Patrick’s Day

YOU DON’T WANT TO MISS THIS EVENT!!!

Scott St. John will be speaking at The Big Room At Sierra NevadaThe , Friday, March 26, 2010.  Scott is a 3rd-Term Governing Board Member of Freddie Mac.  You’ll have an opportunity to inquire into expected economic future of the United States, Real Estate and its REO future, and what’s happening behind the scenes that is making closing loans to more timely and difficult, these days.   REGISTER AT THE CHICO OR PARADISE BOARD OFFICES.  $10 includes appetizers.  $15.00 AT THE DOOR!

Lowest Rates In Three Months

The Mortgage Bankers Association reported that mortage applications fell by 1.9%, last week, even though we’ve experienced the lowest interest rates in three months.  That’s right!  Rates have not been this low since last December. 

Producer Price Index

The low inflationary reading was shrugged by investors, as anticipation that over the course of the next few months, that the price of gasoline will have a negative effect on the Producer Price Index. 

Floating Would Be Fine...

Locking Advice

I’d be taking advantage of these incredibly low interest rates.  We have quite a strong layer of support, however, why take chances, on such beautiful interest rates.  See our interest rate tracker on the front page of www.accessloans.net 

Related Must Reads

What’s The Big Room, at Sierra Nevada?
Knowledge is Power…Ask Freddie Mac Your Own Personal Question

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Chico, CA Interest Rates Market Report – Economic Influences – March 16, 2010

Careful Floating Into The Morning

FOMC Day

That’s right!  At 11:15 pm PST, Good ‘Ole Ben Bernanke and The Federal Open Market Committee will be rolling out the Interest Rate Decision and Monetary Policy Statement, from their meetings over the past two days.  It’s anticipated that the Fed will leave the overnight rate at 0.0% – 0.25%.  What will be of particular interest will be if the Fed changes their stance on their “extended period” statement regarding leaving interest rates low for an “extended period of time.”  The Fed, if not now, may very shortly be, in quite a precarious position regarding juggling inflation concerns and an economy that’s not creating jobs.  When do they pull the trigger?  Some say sooner, rather than later.  However, it’s expected that the statement will remain, with inflation concerns not too prevalent, currently.  It’s important to note, that some feel as though the “extended period” language should change somewhat.  Remember, that once the language changes, the writing’s on the wall and will effect many things, including the Carry Trade that Banks have been able to capitalize on and assist in getting out of the pickle that they were in, after the mortgage credit crisis.

$1.25% Trillion Purchase Program

The world will also be interested in a solid confirmation that the government is not interested in extending that $1.25% Trillion Government Mortgage-Backed Security Program.  With this major player out of the purchase market, rates will suffer.

Housing Trajectory

Housing Starts were 575,000 for February.  Building Permits were reported at 611,000.  The government said that the overall housing starts were down 5.9% and permits were down 1.6%.  This is somewhat confusing, because housing starts are up 39%, on a year-over-year basis.  Building permits are up 32% on a year-over-year basis.  So, the housing trend trajectory is moving in the right direction, it just might be gradual.

This Afternoon, Things Could Change To A Lock Mode

Locking Advice

I would feel comfortable locking, however, it’s okay to float into the Fed Policy Statement.  We have support at the 50-Day Moving Average, but pricing is already built into a near certain decision to leave the fed-funds rate at 0.0% – 0.25%.  So, there would have to be a huge surprise to have any significant movement to lower interest rates.   Either way, it’s a good time to buy!

YOU DON’T WANT TO MISS THIS EVENT!!!

Scott St. John will be speaking at The Big Room At Sierra Nevada, Friday, March 26, 2010.  Scott is a 3rd-Term Governing Board Member of Freddie Mac.  You’ll have an opportunity to inquire into expected economic future of the United States, Real Estate and its REO future, and what’s happening behind the scenes that is making closing loans to more timely and difficult, these days.   REGISTER AT THE CHICO OR PARADISE BOARD OFFICES.  $10 includes appetizers.  $15.00 AT THE DOOR!

What To Subscribe To:

Get Our Twitter Updates
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Related Must Reads

Extended Period
Carry Trade: The Investment Opportunity of a Lifetime
Why Higher Rates?

What To Subscribe To:

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