Market Comment

Mortgage Bonds started out with some early gains and then got a boost after a couple of economic reports hit the headlines.
Consumer Confidence was reported much lower than expectations, indicating that employment and struggling small businesses are weighing on the economy. In addition, the Case-Shiller Home Price Index rose in December, marking the seventh consecutive monthly increase.
For now, I recommend floating, but be ready to lock if the Treasury auction this afternoon changes the situation.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Market Comment

Mortgage Bonds started out with some early gains and then got a boost after a couple of economic reports hit the headlines.
Consumer Confidence was reported much lower than expectations, indicating that employment and struggling small businesses are weighing on the economy. In addition, the Case-Shiller Home Price Index rose in December, marking the seventh consecutive monthly increase.
For now, I recommend floating, but be ready to lock if the Treasury auction this afternoon changes the situation.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Daily Market Comment

Mortgage Bonds are starting the week slightly higher today after falling below the 200-Day Moving Average last week.

No economic reports are due today, but there will be plenty of news to watch this week, including a number of reports as well as Fed Chairman Ben Bernanke's testimony on monetary policy before Congress on Wednesday and Thursday. Treasury auctions are also spread throughout the week and could move the markets depending on how they're received.

For now, I recommend floating. But with all the news that's in store this week, things could change quickly. I will continue to monitor the situation and keep you posted on any major developments.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Daily Market Comment

Mortgage Bonds are starting the week slightly higher today after falling below the 200-Day Moving Average last week.

No economic reports are due today, but there will be plenty of news to watch this week, including a number of reports as well as Fed Chairman Ben Bernanke's testimony on monetary policy before Congress on Wednesday and Thursday. Treasury auctions are also spread throughout the week and could move the markets depending on how they're received.

For now, I recommend floating. But with all the news that's in store this week, things could change quickly. I will continue to monitor the situation and keep you posted on any major developments.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Market Comment

Mortgage Bonds are under continued selling pressure this morning, even in the face of relatively tame consumer inflation data.

The Consumer Price Index, which measures prices US consumers pay, came in lower than expected for January. When volatile food and energy are removed from the equation, the Index actually fell. The last time that happened was 28 years ago.

Currently, the path of least resistance for Mortgage Bonds looks to be lower, after falling beneath the 200-day Moving Average yesterday. Therefore, I recommend locking.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Market Comment

Mortgage Bonds are under continued selling pressure this morning, even in the face of relatively tame consumer inflation data.

The Consumer Price Index, which measures prices US consumers pay, came in lower than expected for January. When volatile food and energy are removed from the equation, the Index actually fell. The last time that happened was 28 years ago.

Currently, the path of least resistance for Mortgage Bonds looks to be lower, after falling beneath the 200-day Moving Average yesterday. Therefore, I recommend locking.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Daily Market Comment

Mortgage Bonds are trading near unchanged, while trying to hold onto support at the 200-day Moving Average.

In the news, Initial Jobless Claims came in below expectations and Continuing Claims fell to the lowest in 13 months. Despite the better-than-expected Initial Jobless Claims reading, Stocks are lower and this has helped Bonds hold their ground.

Yesterday's Treasury auction results weren't good, and Bonds dropped as a result. With another Treasury auction due out this afternoon, I recommend locking to be safe.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Daily Market Comment

Mortgage Bonds are trading near unchanged, while trying to hold onto support at the 200-day Moving Average.

In the news, Initial Jobless Claims came in below expectations and Continuing Claims fell to the lowest in 13 months. Despite the better-than-expected Initial Jobless Claims reading, Stocks are lower and this has helped Bonds hold their ground.

Yesterday's Treasury auction results weren't good, and Bonds dropped as a result. With another Treasury auction due out this afternoon, I recommend locking to be safe.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Your Daily Dose from DSNews.com

Email not displaying correctly? View it in your browser. Residential Mortgage Delinquency Rate Surpasses 10%: LPS Home loan delinquency rates in the United States have now surpassed 10 percent, Lender Processing Services (LPS) reported this week. When you factor in homes already in the foreclosure process, the total rate of noncurrent mortgages sits at 13.3 percent, according to the company's national loan-level database. This rate indicates that more than 7.2 million mortgage loans are now behind on payments, LPS explained, with another one million properties already taken back by banks and in REO status. Clear Capital Reports First Annual Gain in Home Prices Since 2006 With last month's numbers in and tallied, national home prices registered a 1.8 percent quarterly increase in January, and for the first time in 37 months, yielded a national year-over-year gain of 2.3 percent, Clear Capital said Thursday. The company's senior statistician called the numbers "significant," considering the backdrop of near record levels of unemployment and REO saturation. Comptroller Warns of Over-Regulating Secondary Market A key Treasury official is publicly speaking out against new rules that would require lenders to retain some of the risk on mortgages and other assets sold to investors. At the American Securitization Forum's annual convention this week, Comptroller of the Currency John Dugan urged policymakers to focus reform efforts on improving loan underwriting standards, rather than risk retention proposals that could hamper an already-tenuous securities industry and further diminish credit availability. Defaults Continue to Plague Commercial Real Estate Market Although government-approved programs and bailouts are in place for many sectors of the battered economy, the resources and solutions for property owners and investors in the heavily-distressed commercial real estate market are lacking. Help is available to commercial property owners, but it is not widely known about. As a result, commercial properties continue to face foreclosure, and commercial real estate is expected to remain a drag on the U.S. economy through 2010 and beyond. You are receving this email because you opted in at our website dsnews.com or attended a Five Star Conference. Unsubscribe roballey.434-974-5586@blogger.com from this list. Corporate Office: DS News 1909 Woodall Rodgers Suite 300 Dallas, TX 75201 Add us to your address book Washington Bureau: 1101 Pennsylvania Avenue NW Suite 600 Washington, D.C. 20004 Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2009 Five Star Conference DARE

Your Daily Dose from DSNews.com

Email not displaying correctly? View it in your browser. Residential Mortgage Delinquency Rate Surpasses 10%: LPS Home loan delinquency rates in the United States have now surpassed 10 percent, Lender Processing Services (LPS) reported this week. When you factor in homes already in the foreclosure process, the total rate of noncurrent mortgages sits at 13.3 percent, according to the company's national loan-level database. This rate indicates that more than 7.2 million mortgage loans are now behind on payments, LPS explained, with another one million properties already taken back by banks and in REO status. Clear Capital Reports First Annual Gain in Home Prices Since 2006 With last month's numbers in and tallied, national home prices registered a 1.8 percent quarterly increase in January, and for the first time in 37 months, yielded a national year-over-year gain of 2.3 percent, Clear Capital said Thursday. The company's senior statistician called the numbers "significant," considering the backdrop of near record levels of unemployment and REO saturation. Comptroller Warns of Over-Regulating Secondary Market A key Treasury official is publicly speaking out against new rules that would require lenders to retain some of the risk on mortgages and other assets sold to investors. At the American Securitization Forum's annual convention this week, Comptroller of the Currency John Dugan urged policymakers to focus reform efforts on improving loan underwriting standards, rather than risk retention proposals that could hamper an already-tenuous securities industry and further diminish credit availability. Defaults Continue to Plague Commercial Real Estate Market Although government-approved programs and bailouts are in place for many sectors of the battered economy, the resources and solutions for property owners and investors in the heavily-distressed commercial real estate market are lacking. Help is available to commercial property owners, but it is not widely known about. As a result, commercial properties continue to face foreclosure, and commercial real estate is expected to remain a drag on the U.S. economy through 2010 and beyond. You are receving this email because you opted in at our website dsnews.com or attended a Five Star Conference. Unsubscribe roballey.434-974-5586@blogger.com from this list. Corporate Office: DS News 1909 Woodall Rodgers Suite 300 Dallas, TX 75201 Add us to your address book Washington Bureau: 1101 Pennsylvania Avenue NW Suite 600 Washington, D.C. 20004 Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2009 Five Star Conference DARE

Market Comment

The labor market continues to remain weak as Initial Claims rose more than expected in the latest week and was the highest count since mid-December.

Fourth Quarter Productivity numbers rose 6.2%, a touch below expectations, and higher productivity suggests that corporations are squeezing more work out of existing employees, rather than hiring.

Tomorrow, the Labor Department will report Non-farm payrolls for January. Even if there is an upside surprise, I feel that it will be a selling opportunity for Mortgage Bond traders, which would push Bond prices lower and home loan rates higher. With this in mind, the best strategy would be to Lock ahead of tomorrow’s release.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Market Comment

The labor market continues to remain weak as Initial Claims rose more than expected in the latest week and was the highest count since mid-December.

Fourth Quarter Productivity numbers rose 6.2%, a touch below expectations, and higher productivity suggests that corporations are squeezing more work out of existing employees, rather than hiring.

Tomorrow, the Labor Department will report Non-farm payrolls for January. Even if there is an upside surprise, I feel that it will be a selling opportunity for Mortgage Bond traders, which would push Bond prices lower and home loan rates higher. With this in mind, the best strategy would be to Lock ahead of tomorrow’s release.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Market Comment

Bonds have been trading recently between support at the 200-Day Moving Average and resistance at the 50- and 100-Day Moving Averages…which means they could be primed for a breakout in either direction.

In today's news, Pending Home Sales for December were up significantly from November's reading and up 10.9% over December 2008, as homebuyers take advantage of today's low rates.
Currently, Bond prices are up against a dual ceiling of resistance. Therefore, I recommend locking.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Market Comment

Bonds have been trading recently between support at the 200-Day Moving Average and resistance at the 50- and 100-Day Moving Averages…which means they could be primed for a breakout in either direction.

In today's news, Pending Home Sales for December were up significantly from November's reading and up 10.9% over December 2008, as homebuyers take advantage of today's low rates.
Currently, Bond prices are up against a dual ceiling of resistance. Therefore, I recommend locking.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Bond Market Comment

Mortgage Bonds mounted an impressive reversal higher yesterday, after foreign participation in the 7-Year Note auction helped ease market concerns.
Advanced Gross Domestic Product for the 2nd Quarter came in better than expected, while the 1st Quarter was revised lower. The report also showed consumer spending is down, as consumer savings increased to the highest level since 1998.Currently, prices are higher after some up-and-down movement earlier this morning. I recommend floating for now. But be prepared to act if the situation changes. I will keep you posted.

Leonard Winslow, branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Bond Market Comment

Mortgage Bonds mounted an impressive reversal higher yesterday, after foreign participation in the 7-Year Note auction helped ease market concerns.
Advanced Gross Domestic Product for the 2nd Quarter came in better than expected, while the 1st Quarter was revised lower. The report also showed consumer spending is down, as consumer savings increased to the highest level since 1998.Currently, prices are higher after some up-and-down movement earlier this morning. I recommend floating for now. But be prepared to act if the situation changes. I will keep you posted.

Leonard Winslow, branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112

Mortgage rates Charlottesville

Mortgage Bonds are trading lower and flirting with several Moving Averages, as the 50-, 100- and 200-day Moving Averages all lay within a few basis points of current levels.
Initial Jobless Claims rose slightly more than expected. However, the closely watched four-week moving average fell for a fifth straight week to the lowest level since January. Continuing Jobless Claims also fell for a third straight week to the lowest since April. With Bonds struggling this morning and a hefty Treasury auction on tap today that may pressure Bonds. The good news is, despite all the chaos of the markets, the 30-year mortgage rates are still near multi-year lows and still present a great opportunity.

Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Mortgage rates Charlottesville

Mortgage Bonds are trading lower and flirting with several Moving Averages, as the 50-, 100- and 200-day Moving Averages all lay within a few basis points of current levels.
Initial Jobless Claims rose slightly more than expected. However, the closely watched four-week moving average fell for a fifth straight week to the lowest level since January. Continuing Jobless Claims also fell for a third straight week to the lowest since April. With Bonds struggling this morning and a hefty Treasury auction on tap today that may pressure Bonds. The good news is, despite all the chaos of the markets, the 30-year mortgage rates are still near multi-year lows and still present a great opportunity.

Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.

Mortgage Rates Charlottesville

Daily Mortgage Information for Charlottesville

Friday's bond market has opened fairly flat despite slightly stronger than expected economic news. The stock markets are in negative ground with the Dow down 37 points and the Nasdaq down 32 points. The bond market is currently down 2/32, which will likely push this morning's mortgage rates higher by approximately .125 to .250 of a discount point.

The University of Michigan's revised Index of Consumer Sentiment was today's only relevant economic data. It revealed a reading of 66.0 that was a little higher than the preliminary reading of 64.6. This means that more surveyed consumers felt more comfortable with their own financial situations than earlier this month. This technically is negative news for bonds and mortgage pricing because higher levels of consumer confidence means consumers are more apt to make large purchases in the near future. That adds fuel to economic growth that makes bonds less appealing to investors. However, today's report is consid ered to be only moderately important to the markets, so its impact has been relatively minimal.

Unless the stock markets stage a sizable rally or sell-off, I suspect bond prices and mortgage rates will remain near current levels the rest of the day. There is not relevant news or events expected this afternoon to influence trading either way.

Next week is pretty busy in terms of economic releases. There is relevant economic data scheduled for release four out of the five days, including Monday morning when June's New Home Sales data is posted. This report is the sister release to this week's Existing Home Sales data, but is next week's least important monthly or quarterly report. Look for more details on next week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my cl osing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com

Mortgage Rates Charlottesville

Daily Mortgage Information for Charlottesville

Friday's bond market has opened fairly flat despite slightly stronger than expected economic news. The stock markets are in negative ground with the Dow down 37 points and the Nasdaq down 32 points. The bond market is currently down 2/32, which will likely push this morning's mortgage rates higher by approximately .125 to .250 of a discount point.

The University of Michigan's revised Index of Consumer Sentiment was today's only relevant economic data. It revealed a reading of 66.0 that was a little higher than the preliminary reading of 64.6. This means that more surveyed consumers felt more comfortable with their own financial situations than earlier this month. This technically is negative news for bonds and mortgage pricing because higher levels of consumer confidence means consumers are more apt to make large purchases in the near future. That adds fuel to economic growth that makes bonds less appealing to investors. However, today's report is consid ered to be only moderately important to the markets, so its impact has been relatively minimal.

Unless the stock markets stage a sizable rally or sell-off, I suspect bond prices and mortgage rates will remain near current levels the rest of the day. There is not relevant news or events expected this afternoon to influence trading either way.

Next week is pretty busy in terms of economic releases. There is relevant economic data scheduled for release four out of the five days, including Monday morning when June's New Home Sales data is posted. This report is the sister release to this week's Existing Home Sales data, but is next week's least important monthly or quarterly report. Look for more details on next week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my cl osing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com