Mortgage bond prices fell pushing mortgage interest rates higher. Inflation fears were fanned by Fed Chairman Bernanke's comments indicating "longer-term inflation expectations have risen in recent months, which is a significant concern for the Federal Reserve." Oil prices retreated to near $122 per barrel the early portion of the week only to bounce higher Friday with prices around $138 per barrel.
For the week, interest rates on government and conventional loans rose by about 1/2 of a discount point.
The consumer price index Friday will be the most important event this week. Trade data and retail sales may also move the market. Expect oil and stocks to continue to factor into trading, as inflation fears remain a concern.
|
Economic Factors |
|||
|
Economic Indicator |
Release Date Time |
Consensus Estimate |
Analysis |
|
Trade Data |
Tuesday, June 10, 2008 |
$59.5 billion deficit |
Important. Affects the value of the dollar. A falling deficit may strengthen the dollar and lead to lower rates. |
|
Fed "Beige Book" |
Wednesday, June 11, 2008 |
None |
Important. This Fed report details current economic conditions across the US. Signs of weakness may lead to lower rates. |
|
Retail Sales |
Thursday, June 12, 2008 |
Up 0.6% |
Important. A measure of consumer demand. A smaller than expected increase may lead to lower mortgage rates. |
|
Business Inventories |
Thursday, June 12, 2008 |
Up 0.4% |
Low importance. An indication of stored-up capacity. A significantly larger increase may lead to lower rates. |
|
Consumer Price Index |
Friday, June 13, 2008 |
Up 0.5%, Core up 0.2% |
Important. A measure of inflation at the consumer level. Lower than expected increases may lead to lower rates. |
|
U of Michigan Consumer Sentiment |
Friday, June 13, 2008 |
57.5 |
Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. |
Business Inventories
The report on business inventories basically gives a broader look at the durable goods, factory orders, and retail sales reports. Not only is this report an important part of the investment component of the GDP, but it also provides additional evidence about the economy in the upcoming months. Changes in business inventories slow as the economy approaches a peak, and rise as the economy approaches the trough of a recession. Therefore the change in business inventories is a leading indicator of GDP. The data for this report, which are published by the Department of Commerce's Census Bureau, comes from a monthly survey of inventories, orders, and manufacturers' shipments, in addition to the merchant wholesalers and retail trade surveys.
Not a great amount of attention is typically paid to this report due to the fact that much of the data is already available and surprises are rare. The only new information in this report is retail inventories. However, given the recent negative trend in mortgage bonds, this report may be more of an influence.
The potential for mortgage interest rates to push higher is real considering oil price pressures and inflation concerns noted by Fed Chairman Bernanke. However there still remains some uncertainty and a possibility rates could bounce back a bit following the recent jump higher.
It is important to remember that interest rates tend to improve slowly while negative movements tend to happen fast and furiously. Capitalizing on interest rates at the current levels protects against uncertainty surrounding future interest rate developments.
*Information Courtesy Tonya Esquibel, WR Starkey Mortgage, Franklin/Brentwood TN*
Vanessa Stalets
Brentwood TN Homes
RE/MAX Elite 615-661-4400
Mortgage Bonds were helped this morning, after a rough open, by news that the Unemployment Rate increased to 5.50%, up from 5% last month. As you know, bad news in employment usually fuels good news for mortgages.
Speaking of fuel, oil prices continue to spark inflation fears, which are always a key negative indicator for mortgages. This coupled with statements made by the European Central Bank of potential rate increases, will surely put pressure on the dollar, making foreign goods and services more expensive in the U.S. and also contributing to inflation.
I will continue to keep close tabs on inflation indicators, and as things change I will continue to keep Brentwood TN Homes and Real Estate readers informed.
*Information Courtesy Tonya Esquibel, WR Starkey Mortgage Brentwood/Franklin, TN*
Vanessa Stalets
615-957-6333
Brentwood TN Homes
RE/MAX Elite
615-661-4400
THE FOLLOWING LENDERS HAVE GONE FROM THE AILING LIST TO IMPLODED:
(For a complete list please visit Brentwood TN Finance)
Vanguard Mortgage & Title, Inc.
Chase Home Equity - Wholesale
Chase Subprime - Wholesale
Evergreen Investment & Carnation Banc
Casa Blanca Mortgage/Shearson - Wholesale
UPDATED AILING LENDER LIST:
17. Franklin Bank, SSB
16. Wilmington Finance
15. Bayview Lending Group, LLC
14. Homewide Lending Corporation
13. Thornburg Mortgage
12. American Equity Mortgage, Inc.
11. CTX Mortgage Company (Retail)
10. First Horizon Home Loans
9. Gateway Funding
8. BankUnited (Wholesale)
7. Chevy Chase Bank - Wholesale
6. IndyMac Bancorp
5. MortgageIT
4. Sallie Mae
3. Meridias Capital
2. Doral Financial Corp.
1. Residential Capital, LLC
Call now for more information.
"Let Me Do The Worry AND The Work" while you relax and plan your future!
Vanessa Stalets
RE/MAX Elite - 615-661-4400
Brentwood TN Real Estate
Mortgage bond prices fell pushing mortgage interest rates higher. Rising inflation fears dominated trading. Oil prices hit all-time highs as the price of a barrel eclipsed $135. Fortunately the steep price increases subsided in overnight trading Thursday evening. Mortgage bonds were able to bounce back a bit Friday morning erasing some of the prior losses and helping rates recover.
For the week, interest rates on government and conventional loans rose by about 1/4 of a discount point.
The preliminary GDP data will be the most important event this week. Consumer confidence and the inflation data also have the potential to cause mortgage interest rate volatility. The bond market is closed Monday in honor of the Memorial Holiday. Expect market volatility when trading resumes Tuesday.
|
Economic Factors |
|||
|
Economic Indicator |
Release Date Time |
Consensus Estimate |
Analysis |
|
Memorial Day |
Monday, May 26, 2008 |
None |
Shortened week may lead to market volatility when trading resumes Tuesday morning. |
|
Consumer Confidence |
Tuesday, May 27, 2008 |
61.0 |
Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. |
|
New Home Sales |
Tuesday, May 27, 2008 |
Down 1.1% |
Important. An indication of economic strength and credit demand. Weakness may lead to lower rates. |
|
Durable Goods Orders |
Wednesday, May 28, 2008 |
Down 0.7% |
Important. An indication of the demand for |
|
Q1 Preliminary GDP |
Thursday, May 29, 2008 |
Up 0.9% |
Very important. The aggregate measure of US economic production. Weakness may lead to lower rates. |
|
Personal Income and Outlays |
Friday, May 30, 2008 |
Income up 0.2%, Outlays up 0.2% |
Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates. |
|
PCE Core Inflation |
Friday, May 30, 2008 |
Up 0.1% |
Important. A measure of price increases for all domestic personal consumption. Weaker figure may help rates improve. |
|
U of Michigan Consumer Sentiment |
Friday, May 30, 2008 |
60.2 |
Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. |
Trading This Week
Market conditions that often lead to mortgage interest rate volatility are thin trading and shortened trading weeks. If very few market participants are buying and selling bonds, the potential for short-term volatility is escalated. A large buyer or seller can execute trading orders that, without additional traders to buffer out the extreme buying or selling, can lead to swift market movements. In addition, shortened trading weeks have the potential to compress a week's worth of trading into fewer days. Bond traders often take defensive positions ahead of weekends and holidays to guard against unforeseen events that could possibly jeopardize their investments. This positioning can be beneficial or detrimental to mortgage interest rates. If investors sell stocks and buy mortgage-backed securities, mortgage interest rates will improve. However, if investors sell mortgage-backed securities and hold cash positions, mortgage interest rates will rise.
Holidays can often result in volatility as trading resumes following the extended close. This week could result in market swings that are favorable or negative in nature. Considering the heightened possibility for mortgage interest rate volatility, a cautious approach to interest rate exposure is prudent.
* Information courtesy Tonya Esquibel, WR Starkey Mortgage, Franklin TN*
Vanessa Stalets
Brentwood TN Real Estate
RE/MAX Elite
615-957-6333
615-661-4400
Good news for Brentwood TN Home buyers and the real estate market. Mortgage bond prices rose last week pushing mortgage interest rates lower. Stocks fell which helped bonds rally. Trading remained very volatile. Record high oil prices tempered improvements in mortgage interest rates as the fear of inflation continued to dominate the financial markets. OPEC blamed speculators and a weak dollar while some analysts expressed supply concerns associated with unrest in Nigeria. Foreign demand for US debt securities dwindled. For the week, interest rates on government and conventional loans fell by about 3/8 of a discount point.
The consumer price index data Wednesday will be the most important event this week. Retail sales, industrial production, capacity use, housing starts, and consumer sentiment data all have the potential to cause mortgage interest rate volatility. For more information, or to find a lender near you: Call Vanessa Stalets your Brentwood TN Real Estate leader. 615-957-6333
|
Economic Factors |
|||
|
Economic Indicator |
Release Date Time |
Consensus Estimate |
Analysis |
|
Retail Sales |
Tuesday, May 13, 2008 |
Unchanged |
Important. A measure of consumer demand. Weakness may lead to lower mortgage rates. |
|
Business Inventories |
Tuesday, May 13, 2008 |
Up 0.5% |
Low importance. An indication of stored-up capacity. A significantly larger increase may lead to lower rates. |
|
Consumer Price Index |
Wednesday, May 14, 2008 |
Up 0.3%, Core up 0.2% |
Important. A measure of inflation at the consumer level. Lower than expected increases may lead to lower rates. |
|
Industrial Production |
Thursday, May 15, 2008 |
Down 0.2% |
Important. A measure of manufacturing sector strength. Weakness may lead to lower rates. |
|
Capacity Utilization |
Thursday, May 15, 2008 |
80.2% |
Important. A figure above 85% is viewed as inflationary. A decrease may lead to lower rates. |
|
Philadelphia Fed Survey |
Thursday, May 15, 2008 |
None |
Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates. |
|
Housing Starts |
Friday, May 16, 2008 |
Down 0.7% |
Important. A measure of housing sector strength. Larger than expected decrease may lead to lower rates. |
|
U of Michigan Consumer Sentiment |
Friday, May 16, 2008 |
63.0 |
Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. |
Market Conditions
There is a Chinese proverb that states, "May you live in interesting times." It is often argued that the word interesting is meant to be a synonym for turbulent or dangerous. This phrase hits the bull's-eye given the current state of the financial markets.
While stocks and bonds are swinging around wildly there is some good news for Brentwood TN Real Estate and other markets as well. Interest rates for conforming and FHA/VA loans are still historically low by many standards, which is great news for first time home buyers in the Brentwood TN area.
However, low rates are not a given considering the escalating inflation fears that continue to dominate trading amid rising oil prices. Many analysts predict oil prices will continue to rise. While this doesn't automatically equate to higher mortgage interest rates, rising energy prices are usually viewed as inflationary. Inflation erodes the value of bonds causing bond prices to fall and rates to rise. Other investors believe slowing growth and the credit crisis will eventually stem the rising prices. This scenario would generally be positive for bonds, which always translates into a positive for mortgage rates and the Brentwood TN real estate industry.
*Information Courtesy Tonya Esquibel, WRStarkey Mortgage, Franklin TN*
Vanessa Stalets
Brentwood TN Real Estate
RE/MAX Elite
615-957-6333
615-661-4400
Do you want to Sell/Buy Brentwood TN Real Estate? Do you expect Honesty & Integrity from your REALTOR®? Demand Exceptional Service?! Then Vanessa Stalets is the TN RE/MAX agent for you!615-957-6333
"Let Me Do the Worry and the Work"
Vanessa Stalets is one of RE/MAX Elite's brightest stars, specializing in the Brentwood, Franklin, Williamson County and Middle Tennessee Real Estate Markets. Winner of the prestigious Executive award for top sales in 2006 and the 100% Award in 2007, Vanessa continues to exceed all client expectation! See how I can help you now!
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Fabulous Homes Require a Fabulous Agent!
Current Listings
$1,125,000 MLS® 3010 Jubilee Ridge 10- Williamson County (Jubilee Ridge - Franklin, 3 Story, US) WELCOME to your Hilltop hide away! 3 master beds/ 4.5 baths w/possible 4th bed. INCREDIBLE estate nestled among the trees on almost 6 acres! VERY private home is in PRIME horse farm area & is 1 OF A KIND! Perfect for the discerning buyer! Built in 2003 this home features 3 Master suites and one bedroom area on lower level. "MILES" of covered porches & a VIEW too die for! MUST SEE! No detail or expense was missed! Under ground irrigation, surround sound, even outdoors, lestate lights look like fairy land at night, instant hot water, back up generator, central vacuum, 3 HVAC's, 2 huge water heaters, Granite kitchen, sub zero, double ovens, gas burners, huge pantry, walls of windows, master bath's are all AMAZING! Lower level boasts a full bath, full kitchen, laundry area, excercise rm, tool rm, media area, dining area, pool table as well as 3 car spaces! INCREDIBLE! Agent must be present to show. 
$634,500 MLS® 6480 Peytonsville Arno Rd
Area 10 (Williamson County - 2 Story, US)
3 bed/3.5 bath w/possible 4&5th beds,country estate living with city convenience! This incredible home has 7.39 Acres & 4,806 sq ft,while being just 1.3 mi from 840 & 10 Min's from Franklin! You MUST SEE to believe the open spaces & serenity here! This home really has it all, from the peaceful rocking chair front porch, the awesome 2 story foyer has hardwood floors, lots of light and upgraded chandelier! Open floor plan with 9 ft ceilings on main floor, Formal living room with gorgeous french doors accessed from foyer or great room, formal dining room with chair rail crown moulding and plenty of room, a fabulous great room complete with wood burning fireplace and wet bar,full bath is just off the great room and features cultured marble vanity. Kitchen is a dream come true with a breakfast bar, 42" custom cabinets, upgraded appliances and eat in area with gorgeous 4 ft bay windows to over look the park like backyard! Huge utility room with wash tub sink and half bath connected. The incredible master suite downstairs feels like your very own spa with a master bath boasting cultured marble, his and hers vanities, tons of cabinets, double size shower separate from relaxing jacuzzi tub with more bay windows and ceramic tile too! Master also has his and hers huge walk in closets and room for a home office or sitting room as well as access to the deck! Upstairs you find 2 bedrooms, full bath, a music room, family room, sewing or hobby room and huge office/bonus room plus a huge interior expansion room framed in and ready to be finished! Whole house intercom, two 50 gallon hot water heaters ensure plenty of hot water for everyone! Over sized deck is the perfect place to BBQ with the family or friends and on those sweltering TN summer days cool off in the full size above ground pool! R.V parking with electric hook ups is an added bonus, picnic area too! This really is an amazing retreat home! Hurry now and make this peaceful oasis you next dream home
$234,500 MLS® 5759 S New Hope Rd
Area 7 (Baypointe - Hermitage, Single Story, US)
BEAUTIFUL brick hm 3 bed/2 full bath with bonus room, 2 car attached garage, on LRG 0.32 acre lot. 5 Min's from lake & DwnTwn Nashville, shopping, dining and hospitals! Quiet upscale neighborhood. GORGEOUS archways,Wall length Palladian window in formal dining brings tons of light!Open flr plan, hardwood, vaulted ceiling in LR and 15 ft celing in formal dining room, HUGE bonus rm with floored attic access! Dual Zoned bedrooms for privacy, Double trey ceiling in master suite w/jacuzzi tub, seperate stand up shower, ceramic tile and double vanity as well as huge walk in closet! SS appliances remain,custom blinds too! Hm Warranty included. Immaculate home! All info. deemed correct, not guaranteed. Buyer/agent to verify all pertinent info.
$499,500 MLS® 917 Robertson Academy Rd - SOLD
Area 2 (Oak Hill - Nashville, 1 1/2 Story, US)
WELCOME HOME to one of the most established and sought after areas in Nashville! Just around the corner from The Governors Mansion and many celebrities, this gorgeous, quiet neighborhood is exactly what you want! Hardwoods Through-out. Remodeled dazzling Kitchen with cherry cabinets and ceramic tile ,9' ceilings entire first level.Formal dining room features crown moulding and chair rails as well as beautiful hardwood floors, open to great room and easily accessed from screened in porch! Great room is a real family treat! Cozy brick fireplace, upgraded ceiling fan light fixtures, recessed lighting and amazing natural pine plank ceiling! This will be your favorite room! Master bedroom down is large and airy with fabulous natural light, double closets and room for most anything you want! Guest bedroom downstairs is soothing and comfortable, your friends and family will fight to be invited to stay! Unique and lovely rich pine paneled office, glows with warmth and is the perfect home work place. Upstairs reveals a giant bonus room with hardwood floors and room for plenty of family fun! Hobby area could be mini office or sitting area for upstairs master. Master is phenomenal! Expansive and light filled this is your Oasis for sure! Double closets, ceiling fan and ceramic tiled bath are just some of beauty you will find here! Small guest bedroom upstairs as well, perfect for a princess! You really must see this home to appreciate how well appointed, welcoming and roomy it really is! The yard is a paradise with over 50 varieties of Iris and gorgeous trees, even a rope swing for those lazy summer days! The fully screened in porch is large and perfect for quiet dining AL fresco or entertaining in elegant style! Truly this one has it all, come home to your dreams
Home warranty offered, all information deemed accurate but not guaranteed.!
$174,900 MLS® 2097 SPRING LAKE DR - SOLD
(Spring Haven - Spring Hill, 2 Story Split, US)
INCREDIBLE DEAL(STEAL) HURRY! HUGE CORNER LOT, REMODELED, NEW PAINT,WINDOWS, ALL FLOORING.MATURE LANDSCAPING,OVERSIZE DECK,IN-LAW SUITE/BONUS W/FULLBATH & SITTING AREA! VAULTED CEILINGS,FIREPLACE,OPEN KITCHEN, APPL'S STAY,HUGE CLOSETS,FENCE,3 CAR GARAGE! SEPTIC NEWER, ALL NEW PAINT, FLOORING AND WINDOWS! THIS IS AN INCREDIBLE DEAL, LOOK AT THE COMPS! MUST SELL FAST! BRING ALL REASONABLE OFFERS! BUYER/AGENT TO VERIFY TAX,SQ.FT.&SCHOOLS.SHOW ANYTIME!
Vanessa is a diverse Realtor who is just as effective with first time home buyers as Million dollar listings. She offers not only advice on how to sell your home but she also stages it for FREE!
Vanessa also has a rare ability for continued client relationships and has 90% repeat client business. Vanessa specializes in the Brentwood/Franklin TN markets but is familiar with all markets in Middle TN! Call now to find out how Vanessa Stalets can bring "Integrity and Results" home to you!
Vanessa Stalets is currently a member of the following associations:
NAR - National Association of Realtors
GNAR - Greater Nashville Association of Realtors
Brentwood Chamber of Commerce
Williamson County/Franklin Chamber of Commerce
Sales and Marketing Council
Vanessa also believes strongly in "paying it forward".
She has donated time and/or funds to the following charities:
Habitat For Humanity
The United Way
Komen Foundation
St. Jude's Children's Hospital
Children's Miracle Network
House of Mercy
Please do not hesitate to call on me if I can be of service in your
Brentwood, Franklin or Middle Tennessee area Real Estate needs.
"Vanessa Stalets really knocked herself out (even foregoing her own Thanksgiving weekend holiday to show houses to us out-of-towners) to help us find the perfect home. She went beyond the call of duty at every stage of the process to make sure our real estate needs were met. She not only found us the perfect home in Brentwood TN, she made sure that the deal went down right! And when it wasn't happening the way we needed it to, she never gave up --
"We contacted Vanessa over the Internet when looking on line for a summer home in Tennessee. She was Johnny on the spot and soon we had several homes that fit our criteria. We flew in from FL to see property with her. She was extremely professional and found us a one of a kind, incredible summer home. When you are buying or selling, in the Multi- Million Dollar range it is imperative to have an agent who is knowledgeable and trustworthy. Vanessa is all of that and more! We have purchased with her and listed with her, we would not use anyone else. Vanessa keeps your interests above all else!"
she kept working it until it worked.
Vanessa knows her stuff.
She's The Rock Star of REALTORS®!"
Brentwood TN- May 2008
Holiday Mathis - Author "Rock your Stars" and nationally syndicated horoscope column
Stuart Mathis - Guitarist/Songwriter -Solo as well as The Wall Flowers/ Leann Rimes/ Jewel
Joe and Libby
Franklin, TN
January, 2008
"We came to Vanessa after having had a horrible experience with an agent who was part-time and recommended lenders who did not explain things. The contract fell apart and we were left thinking we would never own a home. Vanessa swept in, connected us to a fabulous lender(Michael Church) and within a month we were closed! Vanessa went the extra mile over and over, she negotiated fiercely and won many concessions for us. We wish we had found Vanessa in the first place, she really know what she is doing!"
Victoria
Inglewood TN
November, 2007
"I tried to find a house on my own, having worked around the Real Estate business I thought I could do it without an agent. I ended up frustrated and out of time, Vanessa came highly recommended and she took us out every day until she found us the "one". We closed 3 weeks later just in time for the Holidays! Vanessa was not only knowledgeable but she was a stickler for the rules and made sure we were protected and represented EVERY step of the way! I love her and you will too!"
Kathleen
Brentwood TN
October, 2007
"Vanessa helped us purchase our first home 18 months ago, we did lots of upgrades and then Found out we needed a "bigger" house for a coming addition! We listed it with Vanessa as she was an incredible agent when we used her on the buy. She went above and beyond for us, including bringing her husband over and helping us paint! She staged our home beautifully and designed flyers and a virtual tour that made me want to stay in the home she was advertising! She thought outside the box at every turn and had innovative selling strategies such as a live video she took and put on you tube! She helped us purchase our new house prior to listing the old one, crazy some would say, but she had it sold before the first payment on the new house was due! In fact, we had one whole month with NO payments! I would recommend Vanessa for ALL transactions; she knows how to get it done, even in a "slow" market!
Drew and Kristin
Nippers Corner/ Franklin TN
August 2007
"We met Vanessa at an open house she held for one of her listings, the house was gorgeous but above our price range. Vanessa jumped right in and offered to assist us in our home search. We had spoken with several other agents but Vanessa made us feel like she could find exactly what we wanted! Within 1 week we found the "perfect" home, it was brand new on the market and Vanessa negotiated big time to get out offer accepted so fast. Nobody else even had a chance to see it! She also helped us with a lender and getting an awesome low rate! She took care of each step, kept us informed and represented our needs impeccably! We are newly weds and first time buyers and as such buying a home and all that goes with it was a bit daunting, we had heard stories of terrible mishaps. Vanessa made it an unbelievably easy and fun process, she never let the stress come through to us! She is the agent to have, bar none!"
"Vanessa came highly recommended by a friend at work. Kristin and her husband had used her before and were listing their home with her. We called her from outside a house in Gallatin on a Saturday afternoon hoping but not really believing that maybe we could get in to see it.Vanessa dropped what she was doing and drove out to the house! We were amazed! She showed us the house and a couple others. We fell in love with one and she helped us get a lender, qualified and an offer written in one weekend! She negotiated like a" Pit Bull" and got our offer accepted just hours before another offer came in! We closed within 3 wks and I was even on vacation in Alaska for 10 of those days. I did not have a worry or a fear, Vanessa is so capable that I knew all would be well. As a first time home buyer and now owner, I suspect it is not usually this easy, Vanessa is the reason! I would and have recommended her to family, friends and anyone else looking for an honest and dependable agent!"
Melissa H
Gallatin TN
June, 2007
"An update, Vanessa sold our house in a matter of hours!
She negotiated and followed through the contract, working out last minute details,
and keeping the sale on track. I used to think Realtors did not really earn their commission,
Vanessa has changed my mind. She was well worth any cost!
What a blessing she has been, Vanessa is the total package!"
Kay and Gordon
Brentwood TN
May, 2007
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