It's Monday and the start of a FABULOUS week. This is one of my favorite weeks of the year with Thanksgiving on Thursday (I think it's the only week where Thursday isn't Jobless Claims Thursday). I love being able to spend quality time with my family - which I do about everyday - and on Thanksgiving we get to forget about the normal grind of life and concentrate on each other and yummy food. There's always, games, football and a movie or two as well (and maybe a nap).
I was out last week with a number of projects and a couple of days of traveling but since the mortgage bonds are trading in a tight range - and trending slightly higher - I didn't think it was too big of a deal that you didn't have my blog to read (other than missing me, and an occasional joke, in general). You can always contact me by phone for up to the minute information regarding the mortgage bond market and interest rates.
Since November 10th, the FNMA benchmark bond is 36 basis points better which means that rates are a bit better as well. The RSI has gone from oversold to on the verge of overbought. There is a growing sentiment that the FED will raise the Fed Funds rate in December barring some really bad data which doesn't appear likely. If you are working with buyers it's important to educate them as to how buying power erodes as home prices appreciate and as interest rates rise. If your buyers need something more than a theoretical discussion, feel free to contact me and I can provide you with a spreadsheet that will help give you and your buyers specifics regarding their situation. If you are working sellers it's important for them to know that the buying population will decrease as rates and home prices increase which makes it all the more important to price their home correctly.
If I can help with anything, please contact me at 702-812-1214 or 801-853-8720. I'll be back tomorrow with more analysis. Make today great.