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| August 5, 2013 | | Hello Brad,
Periodically calculating net worth is a smart financial strategy – because 'what gets measured gets managed.' In today's ever-fluctuating economy, it is important for all of us to keep a steady eye on expenses. Some of the simplest changes can add up to big savings.
The formula for net worth is 'total assets minus total liabilities'. If your clients need assistance, it would be a pleasure to help.
Sincerely, | 
| | 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 | NMLS #243638 |
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| | Economic Data is Mixed | Average 30-year fixed rate | Week of 08/02: +0.03% | Week of 07/26: +0.03% | ---------------------------- | Stocks (Weekly) | Dow: 15,575 +150 | NASDAQ: 3,675 +75 | | | 
| | HIGHLIGHTS | 
| The Unemployment Rate Fell to the Lowest Level Since December 2008. |
| Core PCE Inflation sas just 1.2% Higher than one Year Ago. |
| Pending Home Sales were 11% Higher than One Year Ago. |
| The European Central Bank (ECB) Made No Change in Rates. | |
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| Last week was packed with major economic reports and a Fed meeting. With investors looking for hints about when the Fed will begin to taper its bond purchases, the data caused a great deal of volatility. Because the economic news was roughly neutral overall, though, mortgage rates ended the week just slightly higher.
The economic data released on Wednesday, Thursday, and Friday caused large swings in mortgage rates. Positive news on economic growth was bad for mortgage rates and vice versa. Second quarter GDP increased 1.7%, above the consensus of 1.1%, and mortgage rates jumped. Then, ISM Manufacturing unexpectedly increased to the highest level since June 2011, pushing mortgage rates even higher. When Friday's highly anticipated Employment data was a little weaker than expected, though, mortgage rates reversed nearly the entire increase seen earlier in the week.
The reaction to these reports was exaggerated. A big reason for the volatility is that the Fed has indicated that future policy changes will depend on the performance of the economy. Investors had hoped that the Fed would provide more concrete guidance this week on its plans to begin to taper, but Wednesday's Fed statement provided no additional clarity. The consensus view is still that the Fed will begin to scale back its bond purchases in September, unless economic growth weakens significantly. As long as a high level of uncertainty remains about when the Fed will taper, volatility is likely to stay elevated. |
| THE WEEK AHEAD | This week will be a light one for economic events. ISM Services will be released on Monday. The Trade Balance will come out on Tuesday. There will be Treasury auctions on Tuesday, Wednesday, and Thursday. Speeches from Fed officials also will receive attention from investors this week. |
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MON 8/05 | TUE 08/06 | WED 08/07 | THURS 08/08 | FRI 08/09 | ISM Services | Trade Balance | 10-yr Auction | Jobless Claims | | | | 3-yr Auction | | 30-yr Auction | | | | | | | | | | | | | | |
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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. |
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Academy Mortgage Corporation
1220 East 7800 South
Sandy, UT 84094
p. 801-233-3700
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| Equal Housing Lender | |
State Lic #LO-0912852 Corp Lic #BK-0904081 Corp NMLS #3113 |
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