Bedford, NH

The Mortgage Interest Rate Lock Advisory for Bedford NH for October 14, 2009

Here are some of the events affecting mortgage interest rates today in Bedford, New Hampshire.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.81 this morning - down 9/32 from yesterday's close.

The chart below shows today's price trend of the FNMA 30-Year 4.5% coupon:

The FNMA 30-Year 4.5% MBS coupon is currently trading at 100.94 - up 4/32 from its opening. Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will be 0.25% - 0.50% worse in price again this morning as compared to yesterday.

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Retail Sales Report for September - there was a 1.5% decline in retail sales in September - less than 2.1% decline analysts were expecting. If auto sales are excluded, then there was a 0.5% increase in retail sales - slightly better than the 0.3% increase that was forecasted. There was a 2.7% increase in retail sales in August mostly due to the Cash for Clunkers program. Excluding auto sales, there was a 1.0% increase in sales in August. This data is important to the mortgage backed securities market because it measures consumer spending at retail stores. Because consumer spending makes up two-thirds of the U.S. economy, any related data is considered to be highly important. Stronger than expected readings in retail sales fueled a stock rally this morning and pushed mortgage interest rates higher.

The minutes of the last FOMC Meeting will be released this afternoon. This may be a major mover of the markets - or it could be a non-factor. It will depend on what Federal Reserve governors said at their last meeting. Analysts will be looking for any concerns about inflation as well as any indication of the Fed's next possible move. If there's any indication the Fed governors were concerned about inflation, we may see prices of mortgage backed securities move even lower and mortgage interest rates move even higher this afternoon. However, if they feel that inflation is not a threat at this time and that a rate increase is not likely in the near future, then the mortgage backed securities market and mortgage interest rates should remain calm.

There are a number of quarterly earnings reports scheduled for release this week that could affect the stock markets. If the earnings reports are good or better than expected, then you can expect traders to sell bonds and mortgage backed securities and move those funds into stocks. If, on the other hands, earnings reports are worse than expected, then you can expect traders to sell stocks and move those funds into bonds as a safe-haven.

What's Happening With Mortgage Interest Rates Today:

Moderate to high volatility. Overall, expect the mortgage market to be heavily influenced mostly by the stock markets today. Expect mortgage interest rates to rise following the better-than-expected retail sales report.

My Mortgage Interest Rate Lock Advice for Today:

If I were considering financing/refinancing a home, I would...

• Lock if my closing was taking place within the next 7 days
• Lock if my closing was taking place between 8 and 30 days
• Float if my closing was taking place between 31 and 45 days
• Float if my closing was taking place between 46 and 60 days

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 any or all other borrowers.

Get today's mortgage interest rates for your situation in Bedford, NH.

http://www.bainmortgage.com/MortgageMarketWeekInReview Newsletter-October 12th, 2009 Provided by Dana Bain Dana Bain Premiere Mortgage Services 11 Malvern Hill Road Sterling, MA 01564 Phone: (978) 422-2311 Fax: (978) 422-2313 E-Mail: dana@bainmortgage.com Market Comment Mortgage bond prices fell last week pushing mortgage interest rates higher. The Treasury auctions were mixed with the 3 and 10-year auctions showing decent foreign demand. Unfortunately the 30-year auction was a huge disappointment and caused mortgage interest rates to worsen Thursday. The fear of future rate hikes sent mortgage bonds lower Friday pushing mortgage interest rates higher. For the week, interest rates rose by about 1/2 of a discount point. The consumer price index will be the most important release this week. Any signs of inflation will generally not bode well for mortgage bonds. Retail sales and the Fed minutes are also likely to factor into trading this week. Any surprises may lead to mortgage interest rate volatility. LOOKING AHEAD Economic Indicator Release Date & Time Consensus Estimate Analysis Retail Sales Wednesday, Oct. 14, 8:30 am, et Down 2.0% Important. A measure of consumer demand. Weakness may lead to lower mortgage rates. Business Inventories Wednesday, Oct. 14, 10:00 am, et Down 0.8% Low importance. An indication of stored-up capacity. A significantly larger increase may lead to lower rates. Fed Minutes Wednesday, Oct. 14, 2:00 pm, et None Important. Details of the last Fed meeting will be thoroughly analyzed. Consumer Price Index Thursday, Oct. 15, 8:30 am, et Up 0.2%, Core up 0.1% Important. A measure of inflation at the consumer level. Lower figures may lead to lower rates. Philadelphia Fed Survey Thursday, Oct. 15, 10:00 am, et None Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates. Industrial Production Friday, Oct. 16, 9:15 am, et Up 0.1% Important. A measure of manufacturing sector strength. Weakness may lead to lower rates. Capacity Utilization Friday, Oct. 16, 9:15 am, et 69.7% Important. A figure above 85% is viewed as inflationary. Weakness may lead to lower rates. U of Michigan Consumer Sentiment Friday, Oct. 16, 10:00 am, et 73.5 Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates. Tax Credit A slew of professionals tied to the housing sector made eager pleas to Congress last week requesting the $8000 first time homebuyer tax credit be extended. The benefit was part of the stimulus plan and is set to expire the end of November. The White House indicated the program "helped the economy" and led to "quite a bit of success" and noted consideration of extending the program. There are additional proposals in the Senate to not only extend the program but also to increase the tax credit and remove the first time homebuyer qualification. Unfortunately the cost to extend the credit is around $1 billion per month. This has politicians from both sides of the isle concerned. The House voted Thursday to extend the credit for American service members another 12 months. Both parties have members pushing for the extension to apply to all purchasers. Analysts indicate some sort of extension is very likely. Last week was a great example of the danger of thinking rates would always improve. The good news is that despite last week’s bounce higher, rates still remain historically favorable. MORTGAGE MARKET IN REVIEW Newsletter-October 12th, 2009

Bedford, NH Homes and Condominium Market Report - April-June

Single Family Homes

The number of homes sold in 2009 as compared to 2008 (66) were down 10% from 76 closed transactions. The average days on market was nearly the same with 102 days. The average sales price dropped dramatically (-13.%) to $420,947. We are in the second year of a declining market and statistics are consistent with other New Hampshire 2009, second quarter market reports.

Bedford, NH is a town in Hillsborough County that is representative of more affluent communities in New Hampshire. Visit Bedford, NH homes for sale for all your real estate needs. Virtual Homes real estate agents will provide buyer and seller agent services.

Housing and condo data was obtained from the NNEREN (Northern New England Real Estate Network), the NH statewide MLS. This information may not be accurate and does not represent all properties sold in NH.

Bedford, NH Homes, Condominiums, Land, Farms, Multi- family Homes for Sale!

Virtual Homes Real Estate provides direct access to the New Hampshire MLS system and offers various tools to assist you in searching properties for sale meeting your criteria. If you are a first-time home buyer you will be able to obtain information that will educate you to the values offered in the Bedford, NH market.

New Hampshire Home Search Service - New Listing Alerts!

Home search is a web-based real estate software tool that keeps you continually informed of your local real estate market. Daily/real time new listing alerts, advanced search capabilities and addresses with mapping are available. To sign up click on Bedford NH MLS Listing Alerts to subscribe to our FREE service.

Bedford, NH MLS Map Search

New Hampshire MLS map search tool offers map based search results that shows listings located on street, neighborhood and town maps. Location search is a unique method of viewing and evaluating property for sale. Property search results provide satellite, street, exterior and interior views of selected listings. To utilize this tool visit Bedford NH MLS Map search.

Bedford, NH Foreclosures - REO, Bank Owned and Short Sale Property for Sale

Bank-owned (REO)and short sale listings are in all price ranges and often marketed with a real estate agents and placed in the New Hampshire Multiple Listing Service (to ensure full market exposure). As a service to you we will provide a list of current foreclosure (bank owned) and short sale listings and email alerts of new foreclosed property. Go to Bedford NH Foreclosures to register for this FREE service.

Bedford, New Hampshire Real Estate Virtual Community

Visit Bedford New Hampshire real estate for town, demographic, school, relocation, home buying and selling information. This resource offers a "virtual visit", access to the MLS and local newspapers.

Go to Virtual Homes MLS for a map based search of all MLS listings of NH and Massachusetts real estate. Visit Massachusetts real estate to obtain relocation and school information in MA towns. Preview communities in Maine at Maine Real Estate. Virtual Homes also provides information and MLS access for Rhode Island real estate and Connecticut real estate. Call Virtual Homes at 800-856-2479 for information.

Bedford, New Hampshire Foreclosed and Bank Owned Property

When a homeowner defaults on his/her mortgage in New Hampshire, the lender will start the process of obtaining the right to sell that property at auction in order to satisfy the debt (balance owed on the mortgage).

Purchasing a home at a foreclosure auction has many risks to a potential buyer (especially a first-time home buyer). There is commonly no opportunity to view the interior of the property, conduct proper inspections and in some cases, there are individuals still occupying the premises. Because of these risks, homes in Bedford, NH are not always sold at auction and the bank will instead take possession of the property. The property is then referred to as bank-owned, REO (real estate owned) or foreclosed property.

There are cases where a homeowner will attempt to sell their home before the bank starts the foreclosure process. The home owner is either already behind on their mortgage payments or will not be able to sell for a price that would cover the balance owed on their mortgage. This is referred to as a short-sale and requires the lender's approval. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price.

Bank-owned (REO)and short sale listings in Bedford, NH are in all price ranges and often marketed with a real estate agent and placed in the New Hampshire Multiple Listing Service (to ensure full market exposure). As a service to you we will provide:

• A list of existing real estate foreclosure (bank-owned) and short sale listings(home pictured) in Bedford, NH and other communities you select.
• Email alerts on NEW foreclosure (bank-owned) and short sale listings in the New Hampshire MLS.
• Address and mapping information so that you may drive by the listings and assess the locations.

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BEDFORD NEW HAMPSHIRE FORECLOSURE ALERTS!

Visit Bedford, New Hampshire Real Estate to receive school reports, search the MLS, request a CMA, obtain relocation, home buying and selling guides.

Visit New Hampshire Real Estate for community information about other towns in New Hampshire. Go to NH Foreclosures to obtain listings on other New Hampshire bank owned homes.

Information is provided by Virtual Homes and real estate services provided by RE/MAX Country Properties, Amherst, NH. Go to Virtual Homes MLS for a map based search of all MLS listings of NH and Massachusetts real estate. Visit Massachusetts real estate to obtain relocation and school information in MA towns. Preview communities in Maine at Maine Real Estate.