The DeJesus Group – Florida's Most Referred Residential Mortgage Advisory Team

Week of: Monday, July 18, 2011
Present Market Conditions
A weak jobs report combined with uncertainty regarding Europe’s debt problems and lack of progress on US debt limit talks all contributed to lower mortgage rates this past week. The market experienced a flight to safety as evidenced by improved mortgage-backed securities (MBS) prices, increased demand for Treasury securities and higher gold prices. 30-year fixed rate mortgages averaged 4.51% with an average of .7% points and 15-year fixed rates dropped to 3.65% with an average of .6% points.

Expectations
June’s Housing Starts report on Tuesday leads a slow week for economic reporting. Wednesday Existing Home Sales are released, followed by Leading Indicators and the Fed Philly report on Thursday. The market will continue to be focused on US debt ceiling negotiations as well as the ongoing economic situation in Europe.

Guidance
With rates moving down once again, now is the time to contact your mortgage professional to purchase that new home or refinance your existing mortgage. Consult with us today your Tampa Bay Mortgage Planning Experts.

Week of: Monday, June 27, 2011
Present Market Conditions
The Federal Reserve lowered its forecast for 2011 GDP growth to 2.8% and reiterated the housing sector continues to be depressed. The 30 year fixed rate averaged 4.50% with .8% points and the 15 year fixed rate averaged 3.69% with .7% points. According to Frank Nothaft, Freddie Mac’s vice-president and chief economist, “mortgage rates were virtually unchanged this week amid further indications of a soft housing market.”

Expectations
The Fed’s preferred inflation indicator, Core PCE price index, is released today along with Personal Income. Consumer Confidence will be released Tuesday, followed by Wednesday’s Pending Home Sales, a leading indicator for the housing sector. Additionally, Treasury auctions are scheduled for Monday through Wednesday.

Guidance
With rates remaining at near-historic lows, now is the time to purchase a new home in Tampa, Florida or refinance your existing loan. Consult with us today your Tampa Bay Mortgage Planning Experts.

Week of: Monday, June 20, 2011

Present Market Conditions
Despite mid-week volatility due to inflation reports; interest rates changed very little. The 30 Year Fixed ticked up to 4.5% while the 15 Year inched down again to 3.67%. Frank Nothaft, Vice President and Chief Economist at Freddie Mac stated “Mortgage rates were little changed this week as financial market participants shrugged off the recent inflation reports. The core producer price index rose just 0.2 percent in May while the core consumer price index increased 0.3 percent, both near the market consensus forecast.”

Expectations
There are several market moving indicators to pay attention to this week. Tuesday Existing Home Sales are released. The big story of the week is Wednesday’s Fed meeting and Chairman’s Press Conference; no change in rates is expected. Thursday we hear Jobless Claims and New Home Sales. We round out the week on Friday with Durable Goods Orders and GDP figures.

Guidance
Interest rates continue to remain low. Don’t miss this great opportunity to refinance your existing home or purchase a new home! Take advantage today by consulting your mortgage professional.

Week of: Monday, June 13, 2011
Present Market Conditions
May’s anemic job growth pushed mortgage interest rates to their lowest levels in 2011. The 30 year fixed rate averaged 4.49% with .7% points and 15 year fixed rates averaged 3.68% with a .7% points. The 5 year ARM hit a historic low at 3.28% and .5 points. Freddie Mac’s vice president and chief economist, Frank Nothaft, noted “Long-term Treasury yields moved lower following a weak jobs report and mortgage rates followed suit. The economy added 54,000 jobs in May, the fewest in eight months, and factories cut payrolls for the first time in seven months.”

Expectations
Key economic reports will be released this week. On Tuesday both the Producer Price Index (PPI) and Retail Sales numbers are due. The most significant inflation report, the Consumer Price Index (CPI), is released on Wednesday along with May’s Industrial Production numbers.

Guidance
Interest rates on both fixed and adjustable-rates moved to new lows for the year. Now is a great time to purchase your new home or refinance your existing home.

Week of: Monday, June 06, 2011

Present Market Conditions
Declining interest rates continue as investors flock to the safety of treasuries as opposed to declining stocks (signs of a weak U.S. economy). The 30 year fixed rate mortgage averaged 4.55% with .6% point last week with the 15 year at 3.74% and .7% point but it is the 5 year ARM that hit a record low settling at 3.41% and .6% point. According to Frank Nothaft, vice president and chief economist, Freddie Mac, “Fixed mortgage rates followed U.S. Treasury yields lower this week amid financial market concerns that the current lull in the economy is continuing. The housing market is showing strain as well as the National Home Price Index fell 5.1% between the first quarters of 2010 and 2011, representing the largest annual decline since the third quarter of 2009.”

Expectations
The economic calendar is light this week beginning with Treasury auctions followed by the Fed’s Beige Book on Wednesday, International Trade and Jobless Claims reports on Thursday and Import and Export prices on Friday morning.

Guidance
Interest rates have continued to remain near historic lows or in the case of the 5 year ARM at historic lows. Don’t miss your opportunity to refinance your existing home or purchase a new home today!

Week of: Monday, May 30, 2011

Present Market Conditions
Interest rates dropped last week for the sixth consecutive week. There were many factors that helped lower rates; weaker than expected economic data and strong treasury auction results were two major factors. Frank Nothaft, Vice President and Chief Economist at Freddie Mac stated “Fixed mortgage rates eased slightly for the sixth consecutive week amid reports of slower economic activity. The index of leading indicators fell 0.3 percent in April and represented the first monthly decline since June 2010. In addition, the Federal Reserve banks reported less business and manufacturing activity in Philadelphia, Chicago and Richmond”

Expectations
The biggest report to watch this week is the Employment Report on Friday. The Chicago PMI Manufacturing index and Consumer Confidence will come out on Tuesday. The ISM Manufacturing index, ADP Employment, and Construction Spending will be released on Wednesday. Productivity and Factory Orders will come out on Thursday. Along with the Employment Report, ISM Services are also released Friday.

Guidance
Interest rates have continued to remain at or near historic lows. Don’t miss this great opportunity to refinance your existing home or purchase a new home!

Week of: Monday, May 16, 2011

Present Market Conditions
Last week was a volatile week for interest rates based on mixed results for the Treasury Auctions and tame inflation data. Despite significant movement, the week ended with interest rates virtually unchanged. Frank Nothaft, Vice President and Chief Economist at Freddie Mac stated “Mortgage rates continued to decline this week following a mixed employment report. The economy added a healthy number of 244,000 workers in April, the most in 11 months, and the figures for March and February were revised up by 56,000 more jobs. However, the unemployment rate rose to 9.0 percent from 8.8 percent in March and was the highest reading since January. In addition, wages grew by only 0.1 percent, which was below the market consensus forecast.”

Expectations
This week there are several reports to watch. Industrial Production, an important indicator of economic growth, will come out on Tuesday along with Housing Starts. The FOMC Minutes from the April 27 Fed meeting will come out on Wednesday. These detailed notes offer additional insight into the Fed’s decisions. Existing Home Sales will be released on Thursday. Philly Fed and Leading indicators will round out the schedule being released on Thursday.

Guidance
Interest rates remain at historic lows and it continues to be a great opportunity to refinance your existing home or purchase a new home! Consult your mortgage professional today!

Week of: Monday, April 18, 2011

Present Market Conditions
Mortgage rates ended last week slightly lower due to target inflation data and favorable Treasury auctions. Greg McBride, Senior Financial Analyst with Bankrate.com stated “For the most part mortgage rates inched lower this week. The average 30-year fixed mortgage rate is now 5.07 percent. On larger loans, the average jumbo 30-year fixed rate is now 5.55 percent. And the gap between fixed and adjustable rate loans continues to grow, with the average 5-year adjustable rate dipping to 3.83 percent.”

Expectations
This week is shortened by a holiday as markets close early on Thursday and are closed for Good Friday. Housing Starts are released on Tuesday and Existing Home Sales come out on Wednesday. Jobless Claims, Philly Fed and Leading Indicators are scheduled for Thursday.

Guidance
Rates inched down which means now is a great time to look at refinancing or purchasing a home. Call your mortgage professional today!

Week of: Monday, February 07, 2011

Present Market Conditions
Interest rates moved a little higher last week due to inflation concerns. There was higher than expected economic growth and increased commodity prices. However, last week’s employment report fell a bit short but was considered to be positive overall. Frank Nothaft, vice president and chief economist for Freddie Mac stated “In the fourth quarter, the economy grew at a 3.2% annualized rate, compared to the 2.6% in the third quarter and was lead by a 4.4% gain in consumer spending.”

Expectations
This week’s economic calendar is fairly light. Weekly Jobless Claims are announced on Thursday and Consumer Sentiment numbers will be released on Friday. There are Treasury auctions on Tuesday, Wednesday and Thursday. Recent auctions have produced significant swings in rates, so investors will be watching these closely.

Guidance
Overall rates are remaining relatively steady and are still extremely low. There is still time to take advantage and lock into a low rate on a purchase or refinance.