Looks like a choppy day ahead for Phoenix interest rates; I will continue to float interest rate locks to start but our finger is on the trigger based on the technicals.

Treasuries and mortgages (interest rates) opened weaker this morning after a strong rally yesterday for treasuries, taking the 10 yr note rate to its lowest in two months. At 8:00 the 10 yr -7/32, DJIA -16. At 8:30 the 10 yr -12/32 3.38% +5 BP, mortgage prices -8/32, DJIA -6. At 9:00 10 yr -12/32 3.38% +5 BP, mortgage prices -4/32 and the DJIA -13. At 9:30 the DJIA opened -26, 10 yr note -8/32 and mortgages at 9:30 -2/32.

Oct PPI out at 8:30, a good report for the inflation outlook. The overall PPI increased 0.3%, estimates were for +0.5%; the core excluding food and energy -0.6% against estimates of +0.1%. Yr/yr overall PPI +1.9%, the core yr/yr +0.7%; both lower than ion Sept. On the knee jerk the 10 yr recovered fro a moment then made new lows (price); mortgages tried to catch a bid but they too were printing new lows in the very early activity.

Looking back to yesterday; interest rate markets were rock solid most of the day with double digit price gains, a few lenders re-priced about 2:00 reflecting the improvement from morning prices. Interest Rates looked very strong until Dallas Fed Pres Fisher said he expected mortgage interest rates to widen over treasuries in the period ahead. That did it; heavy selling exploded in mortgages and all the gains were erased within 30 minutes. Later in the afternoon mortgage interest rates made another attempt to regain footing but going into the end of the day (5:00) mortgages once again were hit by selling leaving mortgage prices only 2/32 better than at 9:30 yesterday morning after being up 10/32 from morning pricing levels. This was a quick retreat for interest rates.

The economy has lost 15 million jobs so far; 876K jobs have been lost since July. Big numbers, the unemployment rate increased 0.4% from Sept to Oct to 10.2%. Banks still are reluctant to lend and remain vulnerable to further pressures. Yesterday Meredith Whitney, one of the premier bank analysts, said she thinks bank stocks are over-valued, causing bank stocks to slip on her comments. She added her name and reputation to the view of a double dip recession ahead; not looking for a re-test of the lows in the stock indexes but still a W on the economic recovery. Continued uncertainty, with the Fed cheer leading while many very reputable analysts are sounding bearish. The result for the bond market is an increase in volatility; rates at these low levels require continued verbal support, any comments to the contrary will set up selling keeping long term interest rates confined to tight ranges. In our view, unless consumers begin to spend the economic recovery will be slow and likely drag on through next year; bullish outlooks continue to ignore the fact that consumers account for 70% of GDP growth and concentrate on the idea the economy can recover as a jobless recovery.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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Lost Your Job?  Start a Foreclosure Cleaning Business

The country is in trouble and what that means there is opportunity lurking around the corner for people who want to make money. The Phoenix area unemployment rate is almost 9% and getting worse!  If you have recently lost your job, you now what I am talking about.

Have you heard about all the foreclosures that are out there in the Phoenix market? Well if you did not hear of them you must be living on another planet. Now is the time to capitalize on the other side of the foreclosure mess. The way to do that is Foreclosure Cleanup. That is when you start your own business and clean out foreclosures.

Cleaning foreclosures is a hard business but big money can be made.  The best way to start this business to to go to a company called Cleanout Foreclosures.  You can visit the Foreclosure Cleanout web site, HERE

Foreclosed properties are here to stay for a while. There are key factors that have lead to this financial crisis.  One reason that this problem exists is thanks to Fannie and Freddie Mac. These two government entities have created this disaster. The only thing to come out of this mess is the companies that go out there and secure these vacant properties from further demise. There is one company out there that you can go to to learn how to start your own cleaning foreclosures business. This company tells you all you need to know about the foreclosure cleaning business. Clean foreclosures has all the information you need to know to start out in this business.

The next problem that this country faces is within the local communities. When a bank levies on a property the aftermath is unbelievable. The families that occupy the home must leave or be evicted.  Once the home becomes vacant that now leads to more problems.

Vagrants will occupy and trash out these properties. Once again it is up to a person willing to clean out these properties to make them livable again. This is the time to once again start a foreclosure cleaning business and make an impact on society and make a living for yourself.

Think of this as a way to capitalize. This country was built on capitalization. These banks that have these foreclosures are making money on them not losing. So say to yourself this is my time. Go out there and start a foreclosure business for yourself. There is no other feeling than being self employed. Go for it.

Want more information?  Visit this site to learn more

Need Help?  Call the Phoenix Homebuyer HelpLine at (602) 291-4362

PHOENIX HOME SEARCH Listings updated hourly. Photos, maps and neighborhood information available.

VISIT:        http:www.phoenixaz-homesforsale.info

Friday Phoenix mortgage interest rate update……….

I will continue to float over the weekend, but I caution not to let the locked loans pile up; keep your exposure from taking on too much risk. Like the market but not in love with it.  Interest rates have improved today.

If you were not watching the interest rate market early this morning you would think today wasn’t much of a day given the employment report this morning. As is the case most of the time, the employment report sets off hip shooting that results in lots of traders getting their pocket books lightened. Today when the unemployment rate hit 10.2% the bond market exploded in a strong rally, the stock index futures rolled down hard and mortgage prices jumped. It took about 30 minutes to settle down, then by 9:30 selling took over in the bond market and the DJIA traded up as much as 75 points at 9:50. Mortgage interest rates and treasuries dropped their gains, went negative, sat weaker for 30 minutes before returning to spend the rest of the day unchanged on the 10 yr and stock market while mortgages bounced back to levels at 9:30. Who cares? Lenders that priced before 9:30, market commentators like us and traders licking wounds on their knees. Just a rehash of how volatile the employment report usually is.

Non-farm job losses in Oct were more than expected, -190K; but were offset by a cumulative increase in job losses previously reported by 91K in Sept and October. The upward revisions were the saving grace and provided the spin the rest of the day. While unemployment is increasing and likely to hit 11% in the next year, it generally is pushed aside by traders in favor of the non-farm jobs counts; that is, when it is convenient. When unemployment rates begin to decline that data will be the focus. Still putting lipstick on the sow and trying to get her to the prom; the employment situation is getting worse, not better; no matter the spinners that see non-farm jobs only falling 200K a month as “good news”.

Consumers continue to cut credit; Sept declined $14.2B, mkts were expecting -$10B. The fourth consecutive month credit expansion declined. Banks are contributing by refusing to extend credit to otherwise qualified people.

President Obama signed legislation extending the $8,000 first-time homebuyer tax credit and giving additional tax breaks to certain homeowners trading up. Passed overwhelmingly by Congress, the bill would provide a $6,500 tax credit to homeowners who are buying a new primary residence beginning Dec. 1. The language mandates that to get the credit the homeowner must have owned their home for five consecutive years of the previous eight. But there are caps on the tax credits. They only apply to individual buyers who make no more than $125,000 and $250,000 for couples. There is also an anti-flipping provision: Any homeowner who collects the credit and sells within three years must return the money. The FTHB was extended to cover consumers signing a contract by April 30 and closing by June 30.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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