RATES FALL SLIGHTLY ON FOMC ANNOUNCEMENT
December 19th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Mortgage interest rates fell slightly this past week as the Fed cut the discount rate by 75 basis points at the conclusion of its FOMC meeting on Tuesday. Additionally, the Federal Reserve stated that they would purchase large quantities of agency debt and mortgage backed securities to support the mortgage and housing markets. The yield on the 10 Year Treasury Note fell from 2.58% last Friday to 2.10%
currently but mortgages have not kept pace.
Economic data of note included sharp declines in November Housing Starts and Building Permits, which fell to their lowest levels on record. The November Consumer Price Index (CPI) fell 1.7%, the largest decline on record. Core CPI, excluding the food and energy components, was unchanged.
The Dow Jones Industrial Average is currently at 8,611, down slightly on the week. Crude oil futures are currently trading at $35.10 per barrel, down over $11 per barrel on the week. President Bush announced that GM and Chrysler will get $13.4 billion in government loans in exchange for restructuring their businesses.
Next week look toward Tuesdays final read on third quarter GDP, Wednesdays Durable Goods Orders and Personal Income and Outlays as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
RATES CONTINUE TO FALL ON ECONOMIC DATA
December 5th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Mortgage interest rates fell slightly on the week on continued negative economic data.
This Weeks Rates
Todays November employment report showed job losses of 533,000 on expectations that 320,000 jobs would be lost. The unemployment rate was reported at 6.7% on expectations of 6.8%. The ISM Manufacturing Index and the ISM Services Sector Index were weaker than expected. October Construction Spending and Factory Orders were also weaker than expected. The Treasury is considering buying mortgages at rates as low as 4.50% but no details have been worked out. It is just a rumor at this point.
The Dow Jones Industrial Average is currently at 8,264, down almost 500 points from the Wednesday before Thanksgiving. Crude oil futures are currently trading at $41.21, down over $13 per barrel on the week. U.S. automakers continue to ask Congress for bailout loans to help them avoid bankruptcy.
Next week look toward Thursdays International Trade and weekly jobless claims and Fridays Producer Price Index (PPI) and Retail Sales as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
RATES INCREASE DESPITE FALL IN TREASURY YIELDS
November 25th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Mortgage interest rates increased slightly this past week despite the yield on the US Treasury 10 year note falling from 3.71% to 3.174% currently. This is the biggest weekly drop in the 10 year note since the stock market crash of 1987. Money continues to flow into safe Treasury debt with short-term yields nearing zero and out of the stock market.
The Dow Jones Industrial Average is currently at 7,528, down almost 1,000 points on the week. The market is now speculating that the Fed may cut the Fed Funds rate by 75 basis points at its December FOMC meeting.
Economic data of note included the Producer Price Index (PPI) and the Consumer Price Index (CPI). PPI fell 2.8%, its largest decline since 1947 and CPI fell 1.0%, its largest decline in 61 years. October Housing Starts and Building Permits fell substantially. Housing Starts are at their lowest level since 1959 and Building Permits are at their lowest level since 1960.
Crude Oil futures prices continued to fall, dropping over $8 per barrel to $48.59 per barrel currently. Fannie Mae and Freddie Mac announced that they will suspend foreclosures over the holidays. Citigroup announced that they will eliminate over 50,000 jobs.
Next week look toward Tuesdays second look at third quarter GDP and Wednesdays Durable Goods Orders and Personal Income and Outlays as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
Only in Boulder
November 17th, 2008 Categories: Focus on Boulder
It’s a catchy headline, but I’ve been saying that ever since I moved to Boulder, Co in 1993. Boulder has a unique culture, I guess is one way to describe it. I tell people that someone could walk down Pearl St. naked and no one would bat an eyelash. They did just do that as hundreds of nude runners took the streets with the Naked Pumpkin run this past Halloween. It’s an annual event that takes place every halloween and not one that you would take your children to. Boulder did have a M
unchkin Masquerade on the Pearl Street mall for the children that was held during the day.
On November 21, the Boulder Ice rink at One Boulder Plaza will open. You can enjoy outdoor skating and the cafes and shopping that surround this area. Read the rest of this entry »
Written by Ro Troia | Discussion: 4 Comments »
RATES INCREASE SLIGHTLY ON TREASURY DEBT AUCTIONS
November 14th, 2008 Categories: Buyer's Corner, Colorado Round Up, First Time Buyers, Focus on Boulder, Market Conditions, Real Estate Tales, Relocating, Selling Thoughts, Trends
Today’s Market Commentary:
Interest rates increased slightly this past week as the US Treasury auctioned off $55 billion of debt. Economic data continued to be negative. Weekly jobless claims jumped by 32,000 claims on expectations that claims would actually fall by 2,000.
Continuing claims increased to 3.9 million from 3.84 million the previous week. October Retail Sales fell by 2.8% on expectations that sales would fall by 1.2%. Excluding auto sales, Retail Sales fell by 2.2% on expectations that sales would fall by 0.9%. Fannie Mae and Freddie Mac reported third quarter losses of $29 billion and $25.3 billion respectively. Markets increasingly expect the Fed to cut short term interest rates by 50 basis points again at their FOMC meeting December 16.
The Dow Jones Industrial Average is currently at 8,503, down about 440 points on the week. Crude oil futures are currently trading at just over $56 per barrel, down almost $5 per barrel on the week. China announced a $586 billion stimulus package to keep their economy growing.
Next week look toward Monday’s Industrial Production, Tuesday’s Producer Price Index (PPI), and Wednesday’s Consumer Price Index (CPI) and Housing Starts as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
Stay Fit in Boulder, Colorado
October 28th, 2008 Categories: Buyer's Corner, Colorado Round Up, Focus on Boulder, Relocating, Trends
Cyclists North of Boulder
Boulder, Colorado is consistently rated as one of the most physically fit cities in the United States and it’s no wonder. Boulder is a complete fitness and health mecca. No matter where you live in Boulder, there is a gym, health club, and/or recreation center within walking distance. Read the rest of this entry »
Written by Brody Stinson | Discussion: No Comments »
What To Ask Your Lender When Getting A Loan.
October 23rd, 2008 Categories: Buyer's Corner, First Time Buyers
When showing homes in Boulder Colorado to first time home buyers, I often get the following question, “Do you know a good lender?” Of course I do, and I usually recommended three that I have done business with over the years. It’s best to interview at least three mortgage companies to find the best fit for you. But then what? Because now is the time to buy in Boulder and the surrounding areas, homebuyers are abundant and many have never been to a lender before. Recently at an open house, a couple of first-time homebuyers asked me what they were supposed to ask the lender at the interview. It’s a great question and many first timers make the mistake of not asking the right questions, so I came up with some of the most popular questions to ask a lender regarding a loan.Written by John Vaughan | Discussion: 3 Comments »
The Boulder Tour Of Solar And Green Homes
October 12th, 2008 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, Focus on Boulder, Selling Thoughts, Trends
Last week, was the Boulder Tour of Solar and Green Homes and I was reminded of how lucky I am to live in Boulder Colorado. Where else can you tour green built or re-modeled homes all in one day - I was in heaven! You never would have found something like this in the town I grew up in. The morning of the event, I went downtown to register and pay the reasonable $10 fee, then I walked along the vendors booths checking out the eco-friendly companies of Boulder. As a real estate agent, I found great resources for my clients before I even left for the tour. Click here to get an overview of what I learned.
Written by Julie Johnson | Discussion: 1 Comment »
Could You Live in Gunbarrel?
September 29th, 2008 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, First Time Buyers, Focus on Boulder
Where is Gunbarrel? Believe it or not it’s part of Boulder, fabulous Boulder, Colorado. Gunbarrel is north east of Boulder and it is part of unincorporated Boulder County.
Lots of advantages to living in Gunbarrel; taxes are less, sales tax is less when buying a durable good or a car or a big ticket item, home prices are generally not as pricey as Boulder proper and lot sizes are generous. When you live in Gunbarrel, is your address, Gunbarrel, Co. 80301? No, not at all, your address is, Boulder, Co. 80301 or could be Niwot or Longmont. Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
Ah, Boulder… Looking out For The Safety of our Children!
September 26th, 2008 Categories: Focus on Boulder, Relocating
Until this year no one in the Boulder Valley School District ever felt it was necessary to do background checks on their volunteers. 
As a result, sex offenders could have been cruising into your children’s schools with free hall-passes for years. Read the rest of this entry »
Written by Brody Stinson | Discussion: No Comments »
