Robert Rauf

This weeks Mortgage Rate Movers

Lets re-cap last week before we dig into this week: Mostly because it was a great one for interest rates. Even with some mixed signals we squeaked out a 15/32nd gain on Fannies last week which translates into a nice improvement on a rate sheet. This came together even with better than expected home sales numbers and a 2 yr auction that had higher yields than anticipated. So Score one for the credit markets!

That's enough of the old, How about the new: Well this weeks numbers start a new month of data (hard to believe that tomorrow is September all ready!) With a new month brings a basket of new data.

Here is this weeks calendar:

• MondayAugust 31: No major news day, but in the absence of the news we have a pretty happy market and as we approach the close we have the market trading solidly up 10/32nds
• TuesdaySeptember 1: Institute of Supply Mgt/Manufacturing index expected 50.1. Already factored into the soup, it is considered to be a toothless report which is not likely to move the credit markets.
• Wednesday September 2: Revised Q2 productivity expected 6.1% vs last 6.4%. The first productivity estimate was a guess. This Revision is not likely to move rates.
• Wednesday: July Factory Orders expected +1.5%. Now that September is here, no one cares about July Numbers. Old news is not that important in a very forward looking market.
• Thursday, September 3: Happy Birthday Susan Mangigian, And Happy Birthday to me as well!
• Thursday: Initial Jobless claims expected down 20,000. Most analysts believe that it will take a long time for the jobs market to recover. This ugly estimate is not likely to be a mover, especially with Friday's number just 24 hours away.
• Thursday: Institute of Supply mgt/Service Sector expected 48.7. The slight improvement over last month is anticipated. Near the target it is not likely to hurt at all, but if it comes in above 50, expect rates to bump up with it.
• FridaySeptember 4: August jobs report with Non farm payroll -265,000, Jobless rate 9.5% and average earnings flat. This guestimate is typically pretty accurate, but when the analysts get it wrong that is when all hell breaks loose in the market.

There are 2 biggies of the week, one on the calendar, and one the calendar it self. First off the data piece: Fridays employment report is traditionally a market mover and should be watched closely, While Thursday's birthdays have absolutely no effect what so ever. If non farm payrolls are -235k or better with a 9.4% jobless rate, stocks will rally and interest rates will be hurt on the good news, but if the jobs report is weaker than forecast, just the opposite will hold true.

Now for the Calendar it self: This is traditionally one of the lightest trading weeks of the year. The last chance to squeakin a few extra summer vacation days. Thin Trading ahead of a long weekend is almost always problematic. Historically I have seen the trading be very conservative headed into the close on Friday. Foreign markets are open Monday while our markets are closed, that just adds to the concerns. So if the market goes bad, it is more likely to go bad fast since there will be less volume flowing to settle things down.

It is a tough call this week, I would be most cautious of Fridays report and pay close attention to the day to day trading and the good vs bad days in stocks. The stock market has the potential to rob from the credit markets and that will be a driving force in rates as well.

Have a wonderful week!

Rob

Robert Rauf

Mortgage Banker

www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf

(732)223-1630 x102

Since 1987 I have been helping my clients fulfill their dream of home ownership!

Real Estate Mortgage Network

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Project PorchLight

If you Live in Jackson, Don't be afraid of a knock on your door this weekend, it man not be a Door to Door sales person It could be a volunteer handing out a free light bulb.

Project PorchLight is a National program with a goal to teach energy conservation.

In NJ: The sponsor is The NJ Clean Energy Program and the state Board of Public Utilities

Volunteers will be handing out Compact Fluorescent Light bulbs. These bulbs use about 75% less energy than a traditional bulb, and they last much longer. Jackson's Mayor, Mike Reina, says their plan is to visit as many of the 17,000+ homes as possible this weekend.

For more information you can call (732) 928-1200

Have a great weekend.

Rob

Robert Rauf

Mortgage Banker

www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf

(732)223-1630 x102

Since 1987 I have been helping my clients fulfill their dream of home ownership!

Real Estate Mortgage Network

NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey

International rock star at Toms River library

TOMS RIVER - Alternative rock star Sarah Bettens will perform a free concert at the Toms River branch of the Ocean County Library (101 Washington Street) Saturday Sept. 12 at 2 p.m.

Bettens first earned recognition as the lead singer of K's Choice. The group, originally from Belgium, earned gold and platinum records in Europe. Their international hits include "Not An Addict," "Believe," and "Almost Happy."

She breaks new ground with her latest CD, "Never Say Goodbye," the first international release from her own label, Cocoon Records.

• What:International rock star Sarah Bettens to perform
• When: Saturday, Sept. 12 at 2 p.m
• Where: Toms River branch, 101 Washington Street
• CONTACT: Scott Rodas, 732-349-6200, ext. 5912 srodas@theoceancountylibrary.org

The acoustic album includes a unique mix of brand new songs, favorites from her last two solo albums and covers of songs by such artists as Bonnie Raitt and Julie London.

Bettens has performed at dozens of key European festivals and headlined a South African tour and European theater tour. She was a headliner at the Michigan Womyn's Festival, has performed with the Yellow Umbrella Tour which raises awareness about cervical cancer, and has performed at several other arts festivals in major cities throughout North America.

With K's Choice, she was featured in Rolling Stone, Vogue, The Chicago Sun-Times and Billboard. Now, as a solo artist, she continues to make headlines with cover features in French Muse, Curve and The Advocate.

Here is a sample of Sarah's music

And You thought the Library was Nothing but a bunch of books?

Have a great week.

Rob

Robert Rauf

Mortgage Banker

www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf

(732)223-1630 x102

Since 1987 I have been helping my clients fulfill their dream of home ownership!

Real Estate Mortgage Network

NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey

Library services available for the homebound

TOMS RIVER - Homebound Ocean County residents can borrow from the rich collection of the Ocean County Library and have those materials delivered to their home free of charge through the library's Home Borrowers Service.

The service is available to Ocean County residents who are permanently or temporarily disabled or who lack transportation. A medical note is not required.

To enroll in the service the homebound person simply calls his or her local branch or the Homebound & Volunteer Services Department (732) 349-6200, ext. 5530. The staff will make note of the customer's reading preferences including formats such as large print, regular print, audio books or music CDs; and the person's favorite authors and genres. The library will then match the homebound customer with a trained volunteer who will set up a mutually convenient time to deliver and pick up library items.

• CONTACT: Christine Casatelli, 732-349-6200, ext. 5530 ccasatelli@theoceancountylibrary.org

Have a great week.

Rob

Robert Rauf

Mortgage Banker

www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf

(732)223-1630 x102

Since 1987 I have been helping my clients fulfill their dream of home ownership!

Real Estate Mortgage Network

NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey

There is something about an old car... The Art, The Nostalgia, The Dreams... I have a 40+ year old convertible sitting in pieces in my garage... Next good market I promise I will get it on the road!

This Wednesday you have the opportunity to see some oldies:

• WHAT: The Ocean County Mall Cruise Night
• WHEN: Wednesday August 26 from 6-9pm
• WHERE: The Ocean County Mall at the corner or Hooper and Bay Ave Toms River, NJ
• SPONSOR: Vintage Auto Museum of NJ, Vintage Auto Club of Ocean County and the Mall
• INFO: www.vintageautomuseum.org
• ADDITIONAL: DJ Entertainment and Mall Discounts for food and drinks.
  • No adult beverages allowed.

Both Domestic and foreign vehicles are welcome provided they are at least 25 years old and you have proof of Insurance

Have a great week.

Rob

Robert Rauf

Mortgage Banker

www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf

(732)223-1630 x102

Since 1987 I have been helping my clients fulfill their dream of home ownership!

Real Estate Mortgage Network

NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey