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Daily Market Watch for Wednesday, November 19, 2014 (Courtesy of Larry Baer and Market Alert )
SHORT-TERM TREND (5 days or less). Favors lower rates and higher prices.
LONG-TERM TREND (6 days or more) Favors lower rates and higher prices.
 
15-Minute Daily Chart of the Fannie Mae 5.0% - 30 Year from mktalert.net
How The DJIA & NASDAQ Can Affect Rates

(Note: If the Charts above do not appear, please click 'Refresh' in your browser)
Commentary: The Commerce Department announced earlier this morning that housing starts for October dropped 2.8% on a month-over-month basis while building permits rose 4.8%.



The weakness in housing starts was concentrated completely in the multi-family component of the data which dropped 15.5%. Starts on single-family homes advanced 4.2% to a six year high.



Permits rose 1.4% for single-family homes and 8.0% for apartments. Overall housing construction rates remain well below the average pace of the past 20-years but the trend is beginning to show some sustained upward momentum.



Mortgage investors gave the housing start and building permit report a passing glance -- but the numbers did not create any market moving concern among traders.



As they do every Wednesday, the Mortgage Bankers of America have released their mortgage application survey figures for the week ended November 14th. The composite index increased by 4.9%. Refinance requests climbed 0.9% higher, while purchase money activity jumped by 11.7%.



On a four-week moving average basis, refinance activity has increased by 8.7% over the past month but is lower by 21.8% from one year earlier. Purchase application demand has retreated by 3.2% over the past month and remains 11.8% below the year-ago mark.



For the week ended November 14th, refinance applications accounted for 61.4% of all mortgage loan app activity.



The contract rate for 30-year conforming mortgages fell by 1 basis-point to 4.18%. The interest rate is 8 basis-point higher from four-weeks ago and it is 28 basis-points below where it was this time last year.



Still to come ... the Federal Open Market Committee will release the minutes from their October 29th meeting this afternoon at 2:00 p.m. ET. Investors of every description will go through the document with a fine-tooth comb looking for any hint as to when the Fed will likely begin tightening their benchmark short-term interest rates. Dig as they might, it is highly unlikely this particular document will vary significantly from the Fed’s oft repeated guidance indicating they intend to wait a “considerable period” (judged by most analysts to mean mid-2015) before they take any action to bump up the short-term cost of money. If this assessment proves accurate, this event will probably have little, if any noticeable influence on the current trend trajectory of mortgage interest rates.



Yesterday’s news hinting the inflation beast may be finally starting to stir from its long sleep at the wholesale level will make it difficult, if not impossible, for mortgage investors to consider pushing mortgage interest rates toward lower levels until/unless tomorrow morning’s October Consumer Price Index proves to be a real snoozer.



A sharp drop in energy prices during the month of October is expected to hold headline inflation as measured by the Consumer Price Index in negative territory. The big question will be whether businesses are starting to find the power to make price increases stick at the consumer level.



Most analysts are looking for the core consumer price index to post a very modest 0.1% gain for October. If so, the news will likely prove supportive of the prospects for steady to perhaps fractionally lower mortgage interest rates.



On the other hand, a “core” reading of 0.2% or higher is likely to induce mortgage investors to push mortgage interest rates fractionally higher from current levels.



The October Consumer Price Index will be released at 8:30 a.m. ET on Thursday.



Heads up.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

Recent Additions to The Sweetwater Real Estate Page View The Sweetwater Real Estate Page
14115 Blisswood Dr.
Houston , TX   77044
$269,900
Agent: Terri & Bob Blewett     281-812-8254
Keller Williams
Date listed on this site: 11/14/2014

Loan Officer: Jim Norris (RMLO #304627)

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14115 Blisswood Dr. Houston TX 77044
 
1809 JANELL RENE
DEER PARK , TX   77536
$312,000
Agent: Nicole Ford     (832) 295-1432
Real Estate Options of Texas, LLC
Date listed on this site: 11/12/2014

Loan Officer: Houston Loan Officer (RMLO #304627)

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1809 JANELL RENE DEER PARK TX 77536
 
230 Kai Vista Dr
Kyle , TX   78640
$115,900
Agent: Celia Terry     512-293-2278
Champions Real Estate Group, LLC
Date listed on this site: 11/6/2014

Loan Officer: Jim Norris (RMLO #304627)

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230 Kai Vista Dr Kyle TX 78640
 
618 KAYLYN
HOUSTON , TX   77060
$80,000
Agent: Nicole Ford     (832) 295-1432
Real Estate Options of Texas, LLC
Date listed on this site: 10/27/2014

Loan Officer: Houston Loan Officer (RMLO #304627)

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618 KAYLYN HOUSTON TX 77060
 
26103 Knights Tower Ct
Kingwood , TX   77339
$249,900
Agent: Terri & Bob Blewett     281-812-8254
Keller Williams
Date listed on this site: 10/20/2014

Loan Officer: Jim Norris (RMLO #304627)

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26103 Knights Tower Ct Kingwood TX 77339
 
18892 Harbor Side Blvd
Montgomery , TX   77356
$460,000
Agent: Terri & Bob Blewett     281-812-8254
Keller Williams
Date listed on this site: 10/16/2014

Loan Officer: Jim Norris (RMLO #304627)

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18892 Harbor Side Blvd Montgomery TX 77356
 
7658 GLEN PRAIRIE
HOUSTON , TX   77061
$240,000
Agent: Nicole Ford     (832) 295-1432
Real Estate Options of Texas, LLC
Date listed on this site: 10/9/2014

Loan Officer: Houston Loan Officer (RMLO #304627)

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7658 GLEN PRAIRIE HOUSTON TX 77061
 
738 Northridge Terrace Ln
Spring , Texas   77373
$194,900
Agent: Tracey Richardson     2817065938
TRichardson Realtors
Date listed on this site: 10/6/2014

Loan Officer: Jim Norris (RMLO #304627)

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738 Northridge Terrace Ln Spring Texas 77373
 
 
Announcements
Title & Date Announcement
The BBB awarded Sweetwater the Gold Star Award for 2013!
11/13/2013
The BBB awarded Sweetwater the Gold Star Award for the 6th time in 7 years. The Gold Star is awarded to companies who have shown outstanding customer service for three consecutive years.
TSML Assigns Sweetwater the Highest Possible Compliance Rating!
12/24/2012
For the 2nd consecutive examination, the Texas Department of Savings and Mortgage Lending assigned Sweetwater the highest possible compliance rating of a "1"! According to TSML definition, this means that Sweetwater is in a "strong compliance position".

Contact Information

 

MANAGEMENT

Jim Norris - President                                                          Elle Roloff - Operations Manager

908 Town & Country #120                                                     908 Town & Country #120
Houston, TX 77024                                                                Houston, TX 77024
(281) 970-1082 ext 1                                                            (281) 970-1082 ext 2
(866) 717-4556 ext 1 Toll Free                                               (866) 717-4556 ext 2 Toll Free

jim@sweetwatermortgage.com                                               elle@sweetwatermortgage.com

 

LOAN OFFICERS

Austin:Austin Loan Officer (RMLO #304627)


(866) 717-4556 Toll Free


Email:sweetwater@sweetwatermortgage.com
Brenham:Gayle Valentine-Hill (RMLO #298234)
119 W Commerce St
Brenham, TX 77833
979-353-4234


Email:gayle@texashomeplacemortgage.com
Brenham:Sandra Starnes (RMLO #298126)
119 W Commerce Street
Brenham, TX 77833
979-353-4234
979-251-0726

Email:sandra@texashomeplacemortgage.com
Dallas:Dallas Loan Officer (RMLO #304627)


(866) 717-4556 Toll Free


Email:sweetwater@sweetwatermortgage.com
Houston:Houston Loan Officer (RMLO #304627)
908 Town & Country Blvd # 120
Houston, Tx 77024
(281) 970-1082
(866) 717-4556 Toll Free

Email:sweetwater@sweetwatermortgage.com
Houston:Jim Norris (RMLO #304627)
908 Town & Country Blvd #120
Houston, Tx 77024
(281) 970-1082 ext 1
(866) 717-4556 ext 1

Email:jim@sweetwatermortgage.com
Houston & San Antonio:Elle Roloff-Norris (RMLO #304630)
908 Town & Country Blvd #120
Houston, TX 77024
281-970-1082 & 210-807-7285 ext 2
866-717-4556 ext 2

Email:elle@sweetwatermortgage.com
San Antonio:San Antonio Loan Officer (RMLO #304627)


(210) 807-7285
(866) 717-4556 Toll Free

Email:sweetwater@sweetwatermortgage.com
 
 
  
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