YOUR Mortgage Minute -- August 31,2009

Good Morning,

I hope that your Monday is off to a rockin' start

Mortgage markets were flat last week overall, although mortgage rates were somewhat volatile from day-to-day.
For rate shoppers, the best pricing was available Monday morning and Friday afternoon -- everything in between was slightly elevated.

It's the second consecutive week in which rates finished unchanged.

There was a string of good news last week about the economy, led by housing. New Home Sales, Existing Home Sales, and the Case-Shiller Index all surprised to the high-side and consumer confidence numbers came in higher-than-expected, too.

In prior weeks, strong data like this would have caused mortgage rates to rise. Last week, however, it didn't. Mostly because foreign demand for mortgage-backed bonds has remained strong.

This week, there's only one major data release and its timing may prove to be problematic.

Friday, the Bureau of Labor Statistics releases the August Non-Farm Payrolls report. With housing's rebound seemingly underway, the jobs report takes on added significance. Joblessness can undermine consumer confidence and spending and cause harm to the recovering U.S. economy.

This is one reason why rate shoppers should be cautious toward the end of the week -- the jobs report will move markets. The other reason to be cautious is because Friday is the day before the beginning of the Labor Day Holiday Weekend and Wall Street will be short-staffed throughout the day.

Fewer traders means more volatility -- if rates start to pop, they'll really pop. As we progress, I will certainly keep you posted if the situation warrants. In the meantime, I hope you enjoy your day, and if there is ever anything that I can do for you please let me know.

YOUR Mortgage Minute -- August 26, 2009

Good Morning,

I hope that your Wednesday is going strong for you.

In the Financial Markets Today, Mortgage Bonds are trading near unchanged levels and this comes after yesterday’s late day rally sparked by good results from the 2-year Treasury Note auction.

New Home Sales surged a tremendous 9.6% in July from June’s reading, signaling that the housing market is stabilizing. Adding to the positive tone of the report was a drop in inventories, which now stands at a 7.5 month supply from last month's 8.8 month reading.

I will continue to recommend Floating for now, but this afternoon the Treasury will auction more government debt and the results may influence pricing. If there are any changes, I will certainly let you know. In the meantime, if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 24, 2009

Good Morning,

I hope that your Monday is off to a great start. School is back in session in most of the country now and Fall is just around the corner -- a great time of the year!

In the Markets this morning, Mortgage Bonds are still facing some tough overhead resistance after failing to break above a key level on Friday. In the absence of Bond friendly news or a Stock market decline, pricing could continue to worsen before improving.

There are no economic reports due for release today, but the rest of the week's reports will give investors a broad view of the economy. In addition, the Treasury Department is going to auction off $109 Billion in Securities on Tuesday, Wednesday and Thursday, which could certainly move the market.

I recommend floating for now, but be ready to lock should prices continue to drift lower. I will certainly keep you posted if the situation changes. In the meantime, I hope that you enjoy the rest of your day and if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 20, 2009

Good Morning,

I hope that your Thursday is off to a great start.

In the Markets today, Bonds received a boost higher this morning, but the improvement was halted by a strong ceiling of resistance at the 200-Day Moving Average.

Helping boost Bonds was the Initial Jobless Claims report, which came in higher than expected after a string of better-than-expected reports recently. The news was a bit sobering, showing the labor market remains weak. Also in the news, the volatile Philly Fed Index showed the first manufacturing increase in a year and the highest reading since November 2007.

Currently, prices are facing tough ceilings of resistance. And with the Treasury Department's announcement this morning of next week's auctions, the risks of floating are greater than the rewards. Therefore, I recommend LOCKING if you are closing in the next couple of weeks. I will continue to monitor the situation for you. If any changes are warranted, I will certainly let you know.

In the meantime, I hope that you have a great rest of your day. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 17, 2009

Good Morning,

I hope your Monday is going great and that your week is off to a fabulous start!

In the Markets this morning, Mortgage Bonds are starting the week to the upside, as Stocks slide lower due to fears of a slower than anticipated world economic recovery.

Amidst all the global negativity was some better than expected news this morning on US manufacturing, as the Empire State Index came in far better than expectations. There are no Treasury auctions this week, but this Thursday will bring the announcement for the upcoming round of Bond supply that will hit the market next week. Bonds have not reacted well to previous announcements of additional supply, so this will be something to watch for later this week.

I recommend floating for now as Stocks continue to struggle, but I will be watching closely in case the market changes direction. You can certainly follow me on Twitter @MortgageMinute for real time updates, if you wish. In the meantime, if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 13, 2009

Good Afternoon.

I hope that this note finds you well and that you are having an AWESOME Thursday so far.

In the Markets today, Mortgage Bonds were on the plus side late this morning after initially dropping due news that Germany and France have declared that their recessions are over, as well as Wal-Mart's announcement that it beat earnings estimates for the 2nd Quarter.

Helping boost Mortgage Bonds, however, was the Initial Jobless Claims report, which came in above expectations. Also helping Bonds was news that Retail Sales dropped in July by 0.1%, which was well below the 0.8% gain that was expected. This signals that consumers are still saving more than spending.

Currently, Bonds are sitting comfortable after the up-and-down roller coaster like trading atmosphere this morning. I recommend floating for now as I watch to see how the markets receive today's Treasury auction. But be prepared to lock if the situation turns volatile like yesterday. You can follwo my realtime updates on Twitter at @MortgageMinute In the meantime, I hope you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 12, 2009

Good Morning,

In the markets today, Bonds are attempting to hold on to their gains this morning in advance of two big events coming up this afternoon. At 1 o'clock Eastern Time, the results of the $23 Billion auction of 10-year Notes will be released. Then at 2:15, the Fed will issue its Policy Statement after its two-day Fed Meeting.

The news from the Fed will be both multi-faceted and potentially market moving. Any hints of inflation and hikes could cause the market to swing in one direction. However, news of Bond purchases could cause an opposite reaction.

I recommend floating as of now, but be prepared to change course if the action heats up this afternoon. If the situation changes, I will certainly let you know. In the meantime, I hope that you have a great rest of your day. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 11, 2009

Good Morning,

I hope your Tuesday is off to a great start so far.

In the Markets today, Mortgage Bonds are higher this morning, as they continue to follow through on yesterday's day long rally.

Helping give Bonds a lift was good news on inflation from the Labor Department. Worker Productivity came in better than expected and rose at its fastest pace in 6 years, as companies cut costs and try to maximize output from their current staff. This efficiency helps curb inflation, which is good for long-term Bonds like Mortgage Bonds.

Currently, Bonds are higher after breaking above resistance this morning. I recommend floating for now, as we watch to see how today's Treasury auction of 3-year Notes is received. I will certainly keep you posted on any major developments.

In the meantime, have a great day. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 10, 2009

Good Morning!

Here's to a terrific start to your week.

In the Markets today, after a 4-week rally higher, Stocks are a little lower this morning, which is helping Mortgage Bonds trade higher so far. That is certainly welcome news to the start of the week.

Despite a number of economic reports this week as well as the Fed Policy announcement on Wednesday, the big news could be the Treasury auctions. If the buying of Treasuries is strong, we could see a nice improvement in Mortgage Bonds. However, a poor showing could cause the Bond market to suffer further.

For now, Bond prices are trading modestly higher. Therefore, I recommend floating. I will let you know if a change of course is needed.

Last week was certainly filled with much market volatility -- a roller coaster for sure. If you are in need of real time updates on the markets as well, feel free to follow me on Twitter as well @MortgageMinute In the meantime, I hope your day is great for you. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- August 7, 2009

Wow!

What a day it has been so far.

Mortgage Bonds dropped sharply this morning and Stocks moved higher, after the Labor Department's Job Report came in better than economists expected and at the smallest loss since August. In addition, Unemployment dropped to 9.4%, from the prior month's reading of 9.5%--breaking a streak of 9 straight monthly increases.

While the report doesn't bode well for Mortgage Bonds in the short term, it is good news for the economy since it may be a sign that the worst recession in our lifetime could be ending.

Currently, Bond prices have dropped near session lows. Therefore I recommend locking at this time, if you haven't done so already and have a closing scheduled within the next 30 days. I will continue to monitor the situation throughout the day and certainly keep you posted of any major changes.

In the meantime, I hope you have a great rest of your day and a wonderful weekend ahead. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- HOME of the Day

Good Morning,

Today's feature home is on the South Side of Des Moines and wow, what a find at only $105,900. This home is located at 2933 SE 5th Street, Des Moines, IA. This is a great opportunity for a first time home buyer. The Listing Agent, Angela Meek of Re/Max Real Estate Concepts, shares the following information about this property:

"Welcome home to this well kept three bedroom ranch with over 1400+ sq ft finished. This home features newer laminate flooring, new carpet, and designer paint throughout. When you step inside the front door you will be welcomed by the large living room with a picture window. The eat in kitchen comes with all appliances and has plenty of cabinets and counterspace. The three bedrooms are conveniently located near the full bathroom. The basement showcases a big family room, laundry room (washer & dryer included) and plenty of storage. A fenced in backyard with playset is perfect for kids and a deck to sit outside and enjoy the fresh air. Great location, right down the street Howe Elementary School. $10, 000 grant money is available for additional updates through NFC."

To arrange a private tour, please contact Angela at 515-577-7729 or via email at angela@angelameek.com. For more listings by Angela please visit her website at http://angelameek.com

YOUR Mortgage Minute -- HOME of the Day

Good Morning Friends,

Today's home is a simply fabulous find at 2600 E. 38th Court on the East Side of Des Moines and what a great price to move in as a First Time Home Owner -- $115,000. For this, you get 3 bedrooms, 1.75 bathrooms and a great place to call home.

Nigel Chapman, Real Estate Broker and owner of this home relayed the following information about it:

"This is a Remodeled 3 bedroom ranch in Sheridan Park. 2 car garage with A/C and additional off road parking for 4 more cars! Fenced yard. New kitchen with new stove, microwave, dishwasher, refrigerator, disposal. Original hardwood floor in living room. New carpet in all 3 bedrooms. Remodeled bathroom. Finished basement has large family room, wet bar, 3/4 bath and office/non-conforming bedroom. Basement finish is estimated at 500 SF. Owner is licensed real estate broker."

To arrange a private tour give Nigel a call at: 515-321-8094

You can also visit his other listings on his homepage at http://www.dreamhomeonline.com

I hope that you have a great day.

YOUR Mortgage Minute -- HOME Of The Day

Good Morning,

Today I want to take you to St. Charles, Iowa, a quaint bedroom community in Madison County, Iowa to look at 213 N. Highland Avenue, a 3 bedroom, 2.5 Bath 2 Story New Construction home priced to move in at $179,900. This property features NINE years of tax abatement and is eligible for up to 100% Financing through Rural Developement and the USDA.

The Listing Agent, Steve Wolvers, had the following to say about this great home: "Seller will pay 3% for buyers closing costs. This home is the best quality home for the money. This home has stainless steel stove, fridge, dishwasher & microwave, plus all tile in entry, kitchen, landing and bathrooms. You must see this as it has all the features you find in the Des Moines metro's $250,000 priced homes. Well worth the drive to come see this one of a kind home. Ranch plans also available for built to order home. Nine years of tax abatement left."

A great opportunity awaits in St. Charles, Iowa.

Here is the Contact information to arrange a private showing:

Steven L Wolvers

RE/MAX SUBURBAN REAL ESTATE INC

102 1st Street SE

Bondurant, Iowa 50035

Ph: 515-967-5424 Ext 104

Cell: 515-669-7355

I hope you have a great day!

YOUR Mortgage Minute -- August 04, 2009

Good Morning,

I hope things are going well for you today.

In the markets this morning, Bonds received an initial boost this morning, but have moved lower once again, as some surprisingly good news on the housing market hit the wires.

In the news, Pending Home Sales rose in June for the fifth straight month, fueled by low home loan rates and bargain home prices. In addition, inflation came in tame in the PCE report. Meanwhile, Personal Spending came in slightly higher than estimated, while the Savings rate slipped a bit.

Currently, Mortgage Backed Securities are at their worst levels of the day. Therefore, I recommend locking right away. The way things are looking, rates appear to be deteriorating rapidly this morning. If the situation changes, I will certainly let you know. In the meantime, if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- HOME of the Day

Good Morning,

I hope that your day is off to a FABULOUS start. Today, I am eager to bring you a great 3 bedroom home @ 4691Parkview Drive in Pleasant Hill, Iowa, a community on the East side of Des Moines. The asking price is $155,000. Angela Meek, the listing agent, shared the following information with me about this well maintained home:

"This home is amazing from the second you pull into the driveway. A very well kept 3 bedroom home located in a great neighborhood in Pleasant Hill. Custom open floor plan with an updated kitchen and bathroom. Hardwood pergo floors in the entry and kitchen. New carpet and a large bay window in the living room as well. A fabulous finished walkout basement awaits you with a woodburning fireplace in the family room plus 1/2 bath. This home has newer siding & windows in 2004, exterior doors and some new oak trim and interior doors. There is an expansive deck off of the dining room which leads to the awesome screened in gazebo or the lower level deck area. A fenced backyard with exceptional landscaping including apple and cherry trees plus beautiful foliage in the spring, summer, and fall. There is also a large 2 car attached garage. This home is a homebuyers dream, words can't say enough."

Wow! What a great find this is and its priced to move! A first time home buyer opportunity awaits and with mortgage rates so low now, this could very well be less than the cost of your current rent, and don't forget the $8,000 tax credit too! For more information about this great home, please contact:

Angela Meek
Re/Max Real Estate Concepts
Mobile: 515-577-7729
Email: angela@angelameek.com
Website: http://angelameek.com/

YOUR Mortgage Minute -- August 03, 2009

Good Morning,

I hope that you are having a great day!

In the Markets today, Mortgage Bonds are sharply lower so far this morning, after they were unable to break above an important technical level last Friday.

Meanwhile, Stocks continue higher after former Fed Chairman Alan Greenspan stated that the recession is nearing an end. This, combined with the slightly better-than-expected ISM Index, is putting selling pressure on Bonds.

This is a big week of market-moving news, including Friday's important Jobs Report. I recommend carefully floating for now, as Bonds test a key floor of support. But be ready to lock if prices are unable to stabilize. I will certainly keep you posted. In the meantime, I hope that you have a great rest of your day. if there is ever anything that I can do for you, please let me know.


Contact Options for me --
Office: 515-289-4381
Cell: 515-360-5197
e-mail: steven.w.schraderbachar@wellsfargo.com
facebook: httoL//facebook.com/Mortgageminute
twitter: @MortgageMinute

YOUR Mortgage Minute -- Home of the Day

Good Morning,

This month, I am starting a new program that will be featuring a home each day currently for sale by a Des Moines Iowa Area Realtor. The clock continues to tick on the $8000 First Time Home Buyer Tax Credit. To qualify, you must be in your new home NO LATER THAN November 30, 2009. Plain and Simple. So, if you are in the market as a first time buyer, or know someone who is, the window of opportunity continues to get smaller and smaller.

With that in mind, here are some key points to consider on today's featured Home:

Address: 2101 E 24th Street, Des Moines, IA 50317
PRICE: $119,900
Bedrooms: 3
Bathrooms: 1
Partial Bathrooms: 1

Here are the comments about the property from Steve Wolvers, the listing agent:

"WOW! What a find! Huge rooms, huge yard and a large detached garage plus a large hobby shed. This three bedroom home has hardwood floors throughout living room, bedrooms and hall. Just like brand new here. Hurry to take a look at the incredible find and to call this one home. NFC (Neighborhood Finance Corporation) neighborhood with $10,000 grant plus $2,500 closing costs and $8,000 tax credit if you are a first time homebuyer! Hurry call us today - don't miss this one!"

I recently had a chance to tour this home and it is quite a nice property for the price offerred. I encourage you to check it out soon! Here is a link to the property as well as contact information for the agent, Steve Wolvers.

http://wolverspack.iow.mlxchange.com/AWPDetails.asp

Steven L Wolvers

RE/MAX SUBURBAN REAL ESTATE INC

102 1st Street SE
Bondurant, Iowa 50035
Phone: 515-967-5424 Ext 104

Cell: 515-669-7355
Pager: 515-967-5428 Ext 104
Fax: 866-303-8466
Toll Free: 1-800-228-7340 x104
Email: remaxslw@aol.com
Web: www.wolverspack.com