Week of: Monday, November 21, 2011
Present Market Conditions
Modest inflation data coupled with relatively strong economic growth reports served as offsets, with mortgage rates experiencing very little movement. According to Frank Northaft, vice president and chief economist at Freddie Mac, “Mortgage rates were little changed this week just as the economy is showing potential for further gains in the near term.” 30-year and 15-year fixed-rate mortgages averaged 4.00% and 3.31% respectively, both priced at .7 points. 5-year Treasury-indexed hybrid ARMS averaged 2.97% with .6 points, actually lower than the 2.98% on 1-Year ARMS.
Expectations
Monday Existing Home Sales will be released followed by revisions to third quarter Gross Domestic Product (GDP) on Tuesday. The majority of economic reporting comes Wednesday with Durable Orders, Personal Income, Consumer Sentiment and Core PCE Inflation. The November 3rd FOMC meeting minutes will also be reported. Treasury auctions are slated for Monday through Wednesday. MBS markets are closed on Thanksgiving Thursday, but will be open Friday.
Guidance
Mortgage rates continue to hover at historically low levels. Call your mortgage professional today to purchase your new home or refinance your existing loan. Have a Happy Thanksgiving holiday!
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.
