Weekly Market Update from Curt Dalpiaz



April 4, 2011


Curt & Shannon Dalpiaz
Loan Officer
141 S McCormick Street
Suite #107
Prescott, AZ 86303

Hello Brad,

Babe Ruth once said, "The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don't play together, the club won't be worth a dime. " The same applies to us: combining our resources & expertise is the best way to maximize both short-term and long-term success. It will also keep our customers in good standing.

Thanks for being part of my team – it's always a pleasure to help.


Curt Dalpiaz




Mortgage Rates Increase



Average 30 yr fixed rate

Stocks (Weekly)


The February Core PCE inflation index was just 0.9% higher than one year ago

February Pending Home Sales, a leading indicator, rose 2.1% from January

Oil prices rose to a 2.5-year high above $107 per barrel

The Fed's Lacker suggested that Fed asset sales and rate hikes could happen this year


This week: +0.05%


Dow: 12,400 +200




Last week: +0.05%


NASDAQ: 2,800 +50



An improving economic outlook was unfavorable for mortgage rates last week. The Dow stock index reached a new high for the year, as investors shifted funds from bonds to stocks. Weaker than average demand for the 7-yr Treasury auction also helped push mortgage rates a little higher.

The economic data released during the last week generally was a little stronger than expected. Most significant was the monthly Employment report. Against a consensus forecast of 195K, the economy added 216K jobs in March. The Unemployment Rate declined to 8.8%, the lowest level since March 2009, from 8.9% in February. Stronger economic growth increases inflationary pressures, which is negative for mortgage rates.

The recently passed Dodd-Frank Act requires Federal housing regulators to define the characteristics of loans which will be exempt from new risk retention requirements. Such loans will be known as Qualified Residential Mortgages (QRM). Non-QRM loans will likely require higher interest rates than QRM loans. This week, the first proposed QRM characteristics were announced. In the proposal, all government guaranteed or insured loans, including FHA/VA, Fannie Mae and Freddie Mac loans, will be QRM. Unfortunately, outside of these agency loans, the definition was very strict, making it hard to qualify. There will now be a 60-day comment period.


After a busy week, the Economic Calendar will be extremely light this week. ISM Services will come out on Tuesday. The minutes from the March 17 Fed meeting will also be released on Tuesday. These detailed notes on the discussion between Fed officials provide additional insight into the reasoning behind the Fed's decisions.




All products are subject to credit and property approval. Program terms and conditions subject to change without notice. Not all products are available in all states or amounts. Other restrictions and limitations apply.

Academy Mortgage Corporation
1218 East 7800 South #100
Sandy, UT 84094
p. 801-233-3700

Equal Housing Lender

Company NMLS ID # 3113 LO License #912852 Company License # 0904081 LO NMLS #243638

© 2011 LoyaltyExpress

This is not the opinion of Brad Bergamini, Realty Executives Northern Arizona or any of its affiliates.  This post is for informational purpose only and is not guaranteed and does not render as legal advice.  Buying and selling Real Estate in Arizona or Prescott Arizona is a serious task and should be consulted with personally with Realtor or Real Estate Attorney.  Please visit my website for contact information

http://bradbergamini.com or http://everythingprescott.com