DesertFHA.com

Clients & Friends,

Happy Friday! Please don’t forget to RSVP for the event on Monday morning at 8:30am. RSVP at www.DesertFHA.com The flyer is attached. Thank you if you’ve already RSVPed. I’ve got your seat reserved.

Market Update

New Home sales for June were reported at 530,000--which was far better than expectations of 505,000. In addition, Orders for Durable Goods came in well above expectations and the Consumer Sentiment Index shocked the markets with a very robust reading.

The positive readings are helping to strengthen the US Dollar and even lower Oil prices. As a result of these shifts, a Fed rate hike may be on its way in within the next few months--though probably not at next week’s Fed meeting.

Banks and investors are continuing to “write-down”

Good Morning and Happy MLK Day!

Look at my blog if you have any questions regarding the new declining market loan to value policy (http://www.SeanLaRue.com) or (http://www.MortgageDitty.com) especially if you are just now hearing about this. If I was unclear about the loan to value issue please be advised that not all loans are going to require 20% down. There are still programs available for loan down payments.

Banks and investors are continuing to “write-down” the values on their asset portfolios. This means they are adjusting the value they are placing on the portfolio not necessarily taking a loss on the company just re-adjusting their balance sheets. Slow starts in last weeks new construction report is helping mortgage backed bonds through the end of last week. Make it a great week!