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Palos Verdes Real Estate Mortgage Update

Market Comment

Mortgage bond prices rose last week helping mortgage interest rates fall. Weaker than expected industrial production data helped start the week on a positive note for lower rates. Retail sales rose 0.3%, weaker than the expected 0.5% increase and very bond friendly. We were very fortunate to have rates hold mid week despite higher than expected core inflation at the producer and consumer levels. Inflation readings finally started to show what most analysts and consumers have known for some time. Higher than expected jobless claims and weaker than expected leading economic indicators data Thursday kept rates moving in the right direction. Mortgage bonds ended the week positive by a favorable 1/2 of a discount point.

The Treasury will have another round of auctions this week. If demand falters rates could be adversely affected.

LOOKING AHEAD

Economic
Indicator

Release
Date & Time

Consensus
Estimate


Analysis

President’s Day

Monday, Feb. 21

None

Bond market closed in observance of President’s day

Consumer Confidence

Tuesday, Feb. 22,
10:00 am, et

63.0

Important. An indication of consumers? willingness to spend. Weakness may lead to lower mortgage rates.

2-year Treasury Note Auction

Tuesday, Feb. 22,
1:15 pm, et

None

Important. $35 billion of notes will be auctioned. Strong demand may lead to lower mortgage rates.

5-year Treasury Note Auction

Wednesday, Feb. 23,
1:15 pm, et

None

Important. $35 billion of notes will be auctioned. Strong demand may lead to lower mortgage rates.

Weekly Jobless Claims

Thursday, Feb. 24,
8:30 am, et

410k

Important. An indication of employment. Higher claims may result in lower rates.

Durable Goods Orders

Thursday, Feb. 24,
8:30 am, et

Down 0.8%

Important. An indication of the demand for ?big ticket? items. Weakness may lead to lower rates.

New Home Sales

Thursday, Feb. 24,
10:00 am, et

Up 1.9%

Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.

7-year Treasury Note Auction

Thursday, Feb. 24,
1:15 pm, et

None

Important. $29 billion of notes will be auctioned. Strong demand may lead to lower mortgage rates.

Q4 GDP second estimate

Friday, Feb. 25,
8:30 am, et

Up 3.3%

Important. The aggregate measure of US economic production. Weakness may lead to lower rates.

U of Michigan Consumer Sentiment

Friday, Feb. 25,
10:00 am, et

75

Important. An indication of consumers? willingness to spend. Weakness may lead to lower mortgage rates.

Consumer Confidence

The Conference Board releases the Consumer Confidence Index on the last Tuesday of every month. The report details the levels of confidence individual households have in the performance of the economy. The data is derived from a survey of 5,000 households nationwide. The survey polls consumer opinions on current business conditions, their jobs, their incomes, and their future spending plans.

The consumer confidence index is significant in that it provides a precursor into consumers? willingness to spend in the months ahead. However, many analysts point out that willingness to spend does not always convert to actual expenditures

This week?s release will be eagerly anticipated. Look for any variation from estimates to cause mortgage interest rate volatility. Signs of eroding consumer confidence could lead to improvements in mortgage interest rates. However, stronger than expected figures could spike rates higher.

 

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PV Brokers provides residential real estate services in the Los Angeles County South Bay communities of Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills, Redondo Beach, Hermosa Beach, Manhattan Beach, Torrance and San Pedro. As a boutique Realty, our Palos Verdes Real Estate agents and palos verdes brokers are committed to giving our clients specialized service and attention. For more information on Palos Verdes real estate, palos verdes homes for sale, palos verdes foreclosures, homes for sale in Palos Verdes, palos verdes market information in addition to quality information on homes for sale, visit www.pvbrokers.net .

 
 
 
 
                                  
           
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PV Brokers provides residential real estate services in the Los Angeles County South Bay communities of Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills, Redondo Beach, Hermosa Beach, Manhattan Beach, Torrance and San Pedro. As a boutique Realty, our Palos Verdes Real Estate agents and palos verdes brokers are committed to giving our clients specialized service and attention. For more information on Palos Verdes real estate, palos verdes homes for sale, palos verdes foreclosures, homes for sale in Palos Verdes, palos verdes market information in addition to quality information on homes for sale, visit www.pvbrokers.net .

 

 

 

 

                                  

     

              Where Integrity Meets Experience

                             310.872.0778  c

                             310.684.3156  o   
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Palos Verdes Real Estate and South Bay Homes For Sale | 4th Quarter 2010 Trends

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              Where Integrity Meets Experience

                             310.872.0778  c

                             310.684.3156  o   
                          www.pvbrokers.net

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