Week of: Monday, September 26, 2011
Present Market Conditions
The Fed issued a two-pronged statement, confirming “significant downside risk” to the US economy and announcing a strategy that extends the average maturity of its portfolio while reinvesting principal payments into agency mortgage-backed securities. While the mortgage markets have reacted favorably to this announcement, Frank Northhaft, Freddie Mac’s vice president and chief economist, stated, “A sluggish economy and investor concerns over the European debt markets left mortgage rates largely unchanged.” 30-Year fixed-rates average 4.09% with .7 points for the week and 15-Year fixed-rates averaged 3.29 percent with .6 points.
Expectations
The week starts off with Monday’s New Home Sales followed by Durable Orders on Wednesday. Thursday Pending Home Sales are reported along with final revisions to second quarter GDP. Friday will be a busy day with Core PCE inflation, Personal Income, Chicago PMI Manufacturing and Consumer Sentiment rounding out the week’s economic releases. Additionally, Treasury auctions will be held Tuesday through Wednesday.
Guidance
Mortgage rates remain at historic lows! Your local mortgage professional is ready to help you with the purchase of a new home or refinance of your existing mortgage.
About Edgar DeJesus
Edgar DeJesus, a Husband first and foremost who shares his life with his loving wife Emily and their pets Sammy, Charleston(chocolate American Cocker Spaniels) & Rocko (a fawn Great Dane). Fellow colleagues recognize him as one of the top mortgage planners in the Tampa Bay market and a fellow professional you can count on, his clients love him for being their trusted advisor. What keeps this hardworking mortgage planner going is his pure passion to deliver an extraordinary customer service experience. The question behind his motivation is simple - What differentiates him from every other real estate financing professional? He answers the question by saying: On every mortgage I provide for a client I treat it as if I were buying or building a home for my family, consolidating my debt, lowering my interest rate, or improving my own home. I deliver no less than I would expect if someone were providing me with a mortgage and most important their want & need is my want & need. He also says it is not just about providing mortgages, it’s about building life long lasting relationships. Some of his favorite hobbies are spending time with his family and friends, playing golf, dining at steakhouses, & fellowship with others.
Satisfaction for Edgar DeJesus comes from not only closing loans but rather opening doors. Receiving referrals from clients is a great compliment he can receive and the greatest compliment is to have clients repeat their loan experience with him. A great demonstration that he does not over promise and under deliver.
