Weekly Market Update from Curt and Shannon




January 22, 2013


The Dalpiaz Team
Curt and Shannon
141 S. McCormick Street Suite #107
Prescott, AZ 86303
LO License-#0912851 LO NMLS-#151454

Hello Brad,

The government has recently made some changes to mortgage rules, and it's important to stay on top of them. If you have any questions, please let me know.

My main goal is to make the loan process as smooth and stress-free as possible for customers. You can count on me for continuous guidance and support.


Curt and Shannon




Economic Data Exceeds Expectations



Average 30 yr fixed rate

Stocks (Weekly)


December Core CPI was 1.9% higher than one year ago, the same as November

Weekly Jobless Claims dropped to the lowest level since January 2008

It was reported that Japan is considering a foreign bond buying program

Chinese GDP growth data was a little stronger than expected


Week of 01/18: +0.02%


Dow: 13,600 +100




Week of 01/11: -0.03%


NASDAQ: 3,125 +10



Positive economic data was the primary influence on mortgage rates last week. Unexpected strength in Retail Sales, Housing Starts, and Jobless Claims combined to push mortgage rates a little higher.

Stronger economic growth is great for the labor market and the stock market. Unfortunately, it also increases the risk that future inflation will move higher, so it is generally not good for mortgage rates. Two factors helped contain the increase in mortgage rates last week, however. First, the inflation data released last week showed that inflation is not a problem right now. In addition, Fed purchases of mortgage-backed securities (MBS) provided sufficient demand to keep mortgage rates at low levels.

The Housing data released during the week continued to be encouraging. December Housing Starts jumped 12%, well above the consensus forecast, to the highest level since June 2008. Building Permits increased 1%. The January NAHB Home Builder Confidence index remained at the highest level since 2006. The Fed's Beige Book reported improving real estate conditions in all twelve regions.

The Housing data will be the main focus on a very light Economic Calendar this week. Existing Home Sales will be released on Tuesday, and New Home Sales will be released on Friday. Leading Indicators will come out on Thursday. In addition, ongoing debt ceiling talks may influence mortgage rates.




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Academy Mortgage Corporation
1220 East 7800 South
Sandy, UT 84094
p. 801-233-3700

Equal Housing Lender

Corp NMLS #3113 State Lic #912852 Corp Lic #0904081 NMLS #243638

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