| October 24, 2011 | |

The Dalpiaz Team Curt and Shannon 141 S. McCormick Street Suite #107 Prescott, AZ 86303 Ph-928-777-8971 curt.dalpiaz@academy.cc shannon.dalpiaz@academy.cc LO License-#0912851 LO NMLS-#151454
| Hello Brad,
Pablo Picasso once said, 'Action is the foundational key to all success.' This is especially true when it comes to your business. It's frustrating when inadequate financing derails real estate transactions. It is very important to work with partners who can steadily deliver quality results.
As always, you can rely on me for smart mortgage advice & solutions. My goal is to assist you as often as possible.
Sincerely,
Curt and Shannon curt.dalpiaz@academymortgage.com
|
|
| |
| |
| |
Little Change in Mortgage Rates | | Highlights | Average 30 yr fixed rate | Stocks (Weekly) | | 
| September Core CPI inflation was 2.0% higher than one year ago | 
| The Fed's Beige Book reported modest growth in most regions | 
| The Treasury will auction $99 billion in 2-yr, 5-yr, and 7-yr securities this week | 
| The Fed's Tarullo stated that buying MBS should be the first option used to boost the economy |
| | This week: -0.02% | | Dow: 11,700 +100 | | | | Last week: +0.10% | | NASDAQ: 2,650 +25 | | 
| | European debt problems remained the primary focus last week, and shifts in sentiment caused a lot of volatility, but there was a lack of concrete news. The next decisions from European officials are expected to be revealed this week. The economic data released contained few surprises. As a result, mortgage rates ended the week with little change.
European officials met over the weekend and will meet this week, they hope to release a plan for a comprehensive aid package by Wednesday. Officials are divided on what steps to take to help ease debt problems in troubled nations. With large countries such as Italy and Spain experiencing debt troubles, the potential cost of a bailout could be very high. It has been difficult to gain political support in the stronger countries, Germany and France, for aid to the weaker countries. For the countries that are at risk, it has been extremely difficult to implement the austerity measures required to receive aid, as the riots in Greece clearly demonstrate. Given the conflicting goals of the parties involved, the optimal solution is not clear. Whatever the outcome, it will likely have a significant impact on mortgage rates. A decisive plan to prevent the spread of debt problems could cause investors to reverse the flight to safety trade, leading to higher mortgage rates. On the other hand, a plan which disappoints investors could produce an increased flight to safer assets, causing mortgage rates to move lower.
The housing data released last week was mostly better than expected. September Housing Starts increased 15% from August to an annual rate of 658K units, far above the consensus forecast of 595K, and the fastest pace in 17 months. Nearly all the gains came from multi-family units, though. September Existing Home Sales fell 3% from August, which was close to expectations. The inventory of unsold existing homes declined 2% to an 8.5-month supply. |
| |
| | | |
This week, Durable Orders and New Home Sales will be released on Wednesday. Gross Domestic Product (GDP), the broadest measure of economic growth, will come out on Thursday, along with Pending Home Sales. Core PCE inflation and Personal Income will be released on Friday. Consumer Confidence and Consumer Sentiment will round out the schedule. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday. The results from the EU summit will be known by Monday morning, but European officials have suggested that the comprehensive aid package will not be revealed until later in the week.
| | |
| | | |
| |
| |
The market commentary material provided is from a third party vendor, MBSQuoteline, and is not necessarily the opinions of the sender or the organization they represent. This information is intended for educational purposes only and should not be construed as investment and/or mortgage advice. Additionally, the material is deemed to be accurate and reliable, but there is no guarantee it is without error. | |
| |
| | | | | | |
All products are subject to credit and property approval. Program terms and conditions subject to change without 
| Equal Housing Lender |
|
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

Comments