Hummer Forums by Elcova  
Forums - Home
Source Decals

Source Motors
Custom. Accessories.

H2 Accessories
H3 Accessories
Other Vehicles

H2 Source

H2 Member Photos
H2 Owners Map
H2 Classifieds
H2 Photo Gallery
SUT Photo Gallery
H2 Details

H2 Club

Chapters
Application

H3 Source

H3 Member Photos
H3 Classifieds
H3 Photo Gallery
H3 Owners Map
H3 Details
H3T Concept

H1 Source

H1 Member Photos
H1 Classifieds
H1 Photo Gallery
H1 Details

General Info

Hummer Dealers
Contact
Advertise

Sponsored Ads










 


Source Motors - custom. accessories.


Go Back   Hummer Forums by Elcova > ETC. Forums > General Off Topic

Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 07-20-2007, 07:04 PM
Adam in CO's Avatar
Adam in CO Adam in CO is offline
Hummer Guru
 
Join Date: Dec 2002
Location: Anywhere you're not!
Posts: 5,006
Adam in CO is an unknown quantity at this point
Default Mortgage Times

Mortgage Market News for the week ending July 20, 2007
Compliments of
CORE
PHONE:303-770-2262
adam@corefinancegroup.com
5310 DTC Pkwy
Greenwood Village, CO 80111



Events This Week:

Employment Better
Inflation Steady
Manufacturing Flat
Housing Mixed


Events Next Week:
Wed 7/25
Existing Home Sales

Thurs 7/26
Durable Orders
New Home Sales
5-yr Auction
Fri 7/27
Advance GDP
Sentiment


Bernanke Takes Center Stage


Last week mortgage investors were primarily watching two main events, Fed Chief Bernanke's appearance before Congress and the monthly inflation reports. Both indicated tame inflation, and mortgage rates fell modestly. On Wednesday, Bernanke acknowledged some improvement in current levels of inflation, while maintaining the Fed's focus on the possibility of higher future inflation. He suggested that the Fed expects energy prices to stabilize. In addition, he reported slightly lower Fed forecasts for economic growth this year, due to weakness in the housing sector. Overall, mortgage investors were pleased by the lack of bad news on the inflation front, and the outlook for lower economic growth was slightly positive.

Shortly before Bernanke's speech, the most widely watched inflation indicator, the June Consumer Price Index (CPI), showed that core inflation rose at 2.2% on an annual basis, matching the consensus forecast. Core inflation at the consumer level has been trending lower since February, to the point where Fed officials are reasonably comfortable with the current levels. Core inflation excludes the volatile food and energy components. The overall inflation rate has been rising at a faster pace in recent months, due to higher energy prices.

In the housing sector, June Housing Starts came in a little higher than expected, while Building Permits fell by 8%. The encouraging news was that Housing Starts have been stable since February, but the decline in Building Permits may have been an indicator that trouble lies ahead. The National Association of Realtors forecasted that Housing Starts will reach a bottom during the fourth quarter of this year. Separately, the National Association of Home Builders Housing Market Index fell to the lowest level since 1991. The NAHB attributed the decline to a surplus of unsold homes, problems in the subprime market, and tighter lending standards.

  • Also Notable:
  • The Dow Jones stock index hit new record highs above the 14,000 level
  • In June, Building Permits fell to the lowest level seen this decade
  • Fed Chief Bernanke suggested that the problems in the housing sector may last longer than expected
  • The Fed told lawmakers that regulators are taking steps to protect consumers obtaining mortgages

Average 30 yr fixed rate: Last week:0.00%This week:-0.05%

Stocks (weekly): Dow:13,841-60NASDAQ:2,683-18

Week Ahead

Next week's biggest news will be the first look at Gross Domestic Product (GDP) for the second quarter of 2007 on Friday. GDP is the broadest measure of economic activity, and the consensus estimate is for growth at a 3.2% annual rate. Another important indicator of economic activity will be Thursday's report on Durable Orders. In addition, major housing sector data will come out on Wednesday and Thursday with Existing Home Sales and New Home Sales. Treasury auctions and Fed speakers will fill out next week's schedule.
__________________
Reply With Quote
  #2  
Old 07-20-2007, 11:35 PM
Steve - SanJose
 
Posts: n/a
Default Re: Mortgage Times

Locally this week we were watching Google stock carefully....
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT +1. The time now is 07:36 PM.


Powered by vBulletin Version 3.0.7
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.