Update From PJ's Desk

Last week the mortgage pricing was hit when there was extended selling in the bonds and the mortgage rates were hit.

For this coming week the calendar is pretty light in the beginning of the week, with bond auctions in the middle of the week and more relevant data coming out on Thursday and Friday.

On Monday Fed Chairman Bernanke is speaking to the Economic Club of Washington, D.C.

Tuesday there is the Redbook, Wednesday there is the MBA Applications, and Thursday is the Jobless Claims and thee October Goods and Services Trade Balance Report.

On Friday there is the Retail Sales, Consumer Sentiment and Business Inventories. Friday's reports are closely watched, and could affect the markets.

The 2 important Treasury actions - with 10-year Notes scheduled for Wednesday and 30 year bond auctions scheduled for Thursday -depending on the demand - it could either hurt or boost the financial markets.

Contact your mortgage professional to get updated current mortgage pricing.

Until next week...

Hi Everyone, this is my first weekly blog that I'll be posting to inform you of the happenings in the marketplace that will affect opportunities for refinancing.  Also, I'll include information that I have for first time home buyers and can provide help in both finding a home and getting financing.  This is a great time to do both right now! 

Late September to October has been a great month to lock your re-fi's and save money!  How would you like to have this additional disposable income from your re-fi that you can use on other things, for example your kid's tuition, starting additional investment and savings accounts, a membership to the gym, buying extra gifts for family members, friends, and yourself even!  My clients are saving lots of money on their monthly payments by refinancing their loans from $250k to $729k even if the savings on the rate is 1-2% from your current rate.  Call me and I'll provide referrals from my happy clients who have benefitted from these savings already.   

The interest rates are affected by what happens in the bond market and the economic calendar for the week and I will be keeping you updated on the opportunities in the market place that can bring your rates down and save you money.

Based on the Bloomberg Calendar of 10/18, some things to look out for this week are bill auctions and announcements, and 2 year note announcements for the week, Monday 10/19 Housing Market Index, Tuesday 10/20 Housing Starts, Wednesday 10/21 MBA Purchase, Thursday 10/22 Jobless Claims, Friday 10/23 Ben Bernanke speaks and Existing Home Sales.  All of these factors influence and move markets and are important to note. 

I would be happy to chat with you about any of these current events.  You can contact me at 415.730.2105.

Until next week... PJ