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Daily Market Watch for Friday, January 30, 2015 (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 released data earlier this morning indicating the economy expanded at a slightly slower pace than most analysts had anticipated. Gross Domestic Product, a statistical “guesstimate” of the value of all goods and services produced in the U.S., grew at a 2.6% annualized rate in the last three months of 2014 – below the consensus estimate from economists calling for a growth rate of 3.0%.



I think calmer, cooler heads will look at the broader picture – rather than focus breathlessly on the quarter-over-quarter performance. Widening the perspective at bit we find the U.S. economy grew 2.4% in 2014, the most in four years.



Drilling even deeper into the Commerce Department’s GDP figures we find consumer spending, which accounts for almost 70% of all domestic economic activity, climbed 4.3% in the fourth quarter, more than projected. The gain in household consumption was the biggest since the first quarter of 2006.



In my judgment, the only real “fly-in-the-ointment” with respect to the fourth-quarter GDP report was the fact private wage and salary gains remain anemic.



The weakness in private incomes was highlighted in the separate fourth-quarter Employment Cost Index released today by the Labor Department. The index, a broad measure of pay and benefits, rose a seasonally adjusted 0.6% in the October to December period – a slight deceleration from the 0.7% growth of the prior two quarters. However, taken as a whole, annual wage/salary and benefit growth was 2.2% in 2014, the fastest pace since 2008.



I think this morning’s rally in the mortgage market has been fueled by a knee-jerk reaction from more traders who tend to be reactionary to economic data -- rather than by a firm belief by the majority of market participants the economy is teetering on the edge of recessionary slowdown. If my assessment proves accurate, it will be difficult, if not impossible for mortgage interest rates to gain sustained traction to meaningfully lower levels.



Looking ahead to next week – Monday’s combination of the December Personal Income and Spending figures and the January Institute of Supply Management’s Manufacturing Index will take a very distant backseat to next Friday’s 8:30 a.m. ET release of the January Nonfarm Payroll report.



As I write, the consensus estimate among economists is calling for a headline nonfarm payroll gain of 231,000 and a national jobless rate of 5.6%. Numbers that match or closely approximate the consensus estimate will likely prove supportive of steady mortgage interest rates. A headline payroll number of 250,000 and or a national jobless rate less than 5.6% will probably create some upward pressure on rates.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

Recent Additions to The Sweetwater Real Estate Page View The Sweetwater Real Estate Page
1809 JANELL RENE
DEER PARK , TX   77536
$299,900
Agent: Nicole Ford     (832) 295-1432
Real Estate Options of Texas, LLC
Date listed on this site: 1/29/2015

Loan Officer: Houston Loan Officer (RMLO #304627)

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1809 JANELL RENE DEER PARK TX 77536
 
658 E 6 1/2 St
Houston , TX   77007
$509,900
Agent: Jonathan Perez     281-380-8148
Peek Realty
Date listed on this site: 1/22/2015

Loan Officer: Houston Loan Officer (RMLO #304627)

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658 E 6 1/2 St Houston TX 77007
 
5216 W Elkhorn Rd
Las Vegas , Nevada   89131
$424,999
Agent: David Schmidig     (832)888-0004
Nationwide Realty
Date listed on this site: 1/19/2015

Loan Officer: Elle Roloff-Norris (RMLO #304630)

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5216 W Elkhorn Rd Las Vegas Nevada 89131
 
2225 Silver Pine Drive
Las Vegas , NV   89108
$129,500
Agent: David Schmidig     (832)888-0004
Nationwide Realty
Date listed on this site: 1/19/2015

Loan Officer: Elle Roloff-Norris (RMLO #304630)

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2225 Silver Pine Drive Las Vegas NV 89108
 
618 KAYLYN
HOUSTON , TX   77060
$65,000
Agent: Nicole Ford     (832) 295-1432
Real Estate Options of Texas, LLC
Date listed on this site: 1/19/2015

Loan Officer: Houston Loan Officer (RMLO #304627)

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618 KAYLYN HOUSTON TX 77060
 
644 Troy st
Oak Island , Texas   77514
$75,000
Agent: Jessica McGlothlin     281-748-5246
AmeriSource Realty
Date listed on this site: 12/17/2014

Loan Officer: Jim Norris (RMLO #304627)

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644 Troy st Oak Island Texas 77514
 
0 Eagle rd
Oak Island , Texas   77514
$28,000
Agent: Jessica McGlothlin     281-748-5246
AmeriSource Realty
Date listed on this site: 12/17/2014

Loan Officer: Jim Norris (RMLO #304627)

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0 Eagle rd Oak Island Texas 77514
 
1757 Mc Cracken st
Abilene , TX   79602
$105,000
Agent: Tiffany Mitchell     325-676-4797
Property Service Specialties
Date listed on this site: 12/12/2014

Loan Officer: Jim Norris (RMLO #304627)

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1757 Mc Cracken st Abilene TX 79602
 
 
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11/13/2013
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12/24/2012
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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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