Hello Friends,
Well first, have a tremendous Thanksgiving holiday with your friends and family. What a special time we have to reflect and truly recognize the blessings and favor we have had with our family, friends, health and as much as it may not feel like it, our finances. When I read an article last night about a friend that went on his annual missions trip to Guatemala, and described the huts of the people he was helping and how they took such pride in their humble living arrangements because that is THEIR context, no one else’s. It makes you realize how much we really do have even in "hard" times.
In my daily devotional I read this morning as Jesus was teaching in Matthew 7: 24-27 "the difference between a wise man and a foolish man is his response to what he already knows. A wise man follows up on what he hears while a foolish man knows but does not act."
I don't know about you all, but I am guilty of having the head knowledge but not connecting it to my heart knowledge, that is an important gap to close I miss a lot.
There is a lot going on today in the financial markets, mortgage backed securities are enjoying improvement on top of the huge gains from yesterday and the DOW is even in the black, fun times.
Be Blessed!
Travis
Hello Friends,
Every day is a surprise! The Fed’s announced this morning that they are creating yet another lending facility to borrow money from the government. In the most recent move, the Treasury is making $600 billion available for mortgage backed securities and another $200 billion available for credit paper such as student loans, auto loans and backing the Small Business Administration and their loans to small businesses.
Then there is even talk of leveraging this money at a ratio or 10/1 or in the case of $600 billion, that is $6 trillion of new mortgage loans. Well of course this caused a positive reaction in the market and MBS’ went on a HUGE rally, improving as much as 132 basis points on the 6.0% FNMA Note. Traders had to enjoy some of these huge gains and sold off for profits in late trading but we still closed 85 basis points up or .375% of a betterment in mortgage rates.
Investors were not ready to give away the farm and lower mortgage rates in proportion to the gains but still a sizable improvement we should enjoy in the coming weeks. We should see rates in the low 5% range with an APR around 5.4%
There was a lot more economic data hitting the wires today but this was definitely the highlight. Please watch the video for more details.
Be Blessed!
Well, I shouldn't speak so boldly yet but the DOW is actually in the black most of the morning and may close in the black. Pretty scary when you look at the numbers with the DOW dropping below 8000 yesterday. With that, since October of 2007, the DOW has dropped nearly half of its value from 14,164, to 7,988 yesterday, a 47% decline! The only other time was in the 1930's with the great depression has there been such a brutal bear market.
Mortgage Backed Securities continue to hover around that important 200 day moving average and as long as we stay above it, rates will continue to be in the upper 5% range with an APR close to 6%.
Please watch the video about an interesting phenomenon called Deflation and how between a recession and deflation, that is an ugly mix for the Feds to address. They are running out of options if they cut the Fed Funds Rate again in a few weeks by .75%, we will be down to a FFR of .25% and a Prime rate of 3.25%, wow!
Please watch the video for more details.
Thought of the day though from John Maxwell...
"Give your "better" self a chance to grow. Form the habit of positive reaction followed by positive action. We cannot cause the wind to blow the way we want, but we can adjust our sails so that they will take us where we want to go."
Be Blessed!
Travis
Hello Friends,
The DOW continues to get hammered, day after day. The CEO's of the "Big 3" automakers have been getting raked over the coals on Capitol Hill today. Please watch the video for more details of that grilling, interesting to watch.
The good news for mortgage rate though is the record drop on the CPI (Consumer Price Index) by 1% and thanks to a 8.6% decline in energy prices. Oil closed lower again today, down at $53.67. Between these weak inflation numbers, oil continuing to drop and a number of other technical factors, we should continue to enjoy and see mortgage rates at least stay the same and possibly trend lower as this global mess plays out.
Here is a thought from the great speaker and author, John Maxwell that I think was so pertinent right now,
"You stand at a unique crossroads. You are the only person in the history of humanity with your particular background, experience, and talents. You’re only going to get one chance--the one you have right now. Vow to make the most of it! Strive to reach your potential. Expand your possibilities. Make every moment count!"
Be Blessed!
Hello Friends,
Gosh, I can't even finish recording and posting this video without a big swing in the DOW. When I was recording 5 minutes ago the DOW was in the black only 4 points, now it is up 151. That is the upper end of the see-saw action today. The DOW has been down as much as 150 and mortgage backed securities touched on being in the red but also are up currently at 15 basis points, not enough to affect your mortgage rate.
Some big pressure on the market right now are the same thing that has been tugging at it for months, uncertainty! Now with reports coming out that unemployment will reach 7.5% up from last month's 6.5% before year’s end. Citigroup announced at least 50,000 jobs being cut in the coming weeks many other companies filling for protection under bankruptcy laws. The "Big 3" automakers are on Capitol Hill right now pleading their case for emergency bailout funds with a lot of resistance from Reps on the hill. The bailout of the automakers initially sounds like a terrible idea but the far reaching impact of letting them file BK would be an unbelievable impact that I am not sure our economy can handle right now.
Please watch the video for more details.
Be Blessed!
Travis
As a Certified Mortgage Planner, it gives me the privilege to help families build for their future as well as continue an ongoing relationship where I become their trusted advisor and debt manager.
About Me:
When I reflect on my life so far, I like to think that it is punctuated with passion: Passion for God, passion for family, passion for the community. This passion fueled my career in the military and later in the Beaverton police department. I served for 11 years as an officer and completed a degree in criminal justice. After my wife became pregnant with our second child, I sought out alternative career opportunities that would allow me to continue to give to the community and fulfill my most important role as father to Karmen and Austin.
Through the process of creating my life plan and business vision with my Christian life and business coach, we found that for my vision to come to life, an excellent team had to be created. I have found like-minded individuals and team players that shared my values and core. We are passionate about serving our clients and empowering their financial futures.
When I am not working, I spend time with my family attending my children's activities, traveling and volunteering as a youth leader with high schools kids with Young Life. I also attend Beaverton Foursquare where my family calls our church home. Some other hobbies of mine include working out, Trail Blazers games and golfing.
Areas of Expertise
Being a Certified Mortgage Planner gives me the privilege to help families build for the future as well as continue an ongoing relationship where I become their trusted advisor and debt manager. I am happy to apply my experiences and keen sense of detail to crafting creative solutions to the financial needs of my clients. Currently I am managing over $70 million in mortgages for my clients and constantly strategizing with market trends and opportunities for my clients to create more wealth and become debt free.
Learn more about our mortgage planning and managment process as my client and referral partner interactive forum at www.neliton.com
My Team
Amy Yoder - Mortgage Planning Partner
Amy works with Travis to ensure that the process of obtaining a loan is productive and painless. She assists Travis in laying out a plan for each client to make certain that each client's goals are met. With Travis' client's best interest in mind, Amy works to find the appropriate loan and lender and gathers together what is needed for each transaction.
Lya Macaya, Transaction Coordinator
Lya works to create a smooth, seamless loan transaction for her clients and all parties involved. It is her responsibility to submit and process all loans while maintaining open communication with borrowers, lenders and Realtors. Lya works directly with clients to be certain that all information needed by the lender for each loan is complete and accurate so that each loan closes easily and timely.
Tyler Colson - Business Development Partner
Tyler's role is to help clients stay in touch once they have left their consultation, finished their home purchase or mortgage redesign and the ongoing management of their mortgage. In addition to keeping clients up to date on the financial and mortgage markets, we will continue to monitor the financing you have chosen and make certain it best matches your short and long term financial goals.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
