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Daily Market Watch for Wednesday, October 29, 2014 (Courtesy of Larry Baer and Market Alert )
SHORT-TERM TREND (5 days or less). Favors higher rates and lower prices – but just barely.
LONG-TERM TREND (6 days or more) Favors lower rates and higher prices – but just barely.
 
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: As you are no doubt well aware by now, the Federal Open Market Committee will conclude their regularly scheduled two-day monetary policy strategy meeting this afternoon at 2:00 p.m. ET with the release of their post-meeting statement.



Mortgage investors have already “priced-in” expectations the Fed will announce the end of its fiscal stimulus program that involved monthly purchases of Treasury debt obligations and agency eligible mortgage-backed securities. The programs, popularly referred to as “quantitative easing or QE”, have been in operation for the past 37 months.



The probabilities are exceptionally high the Federal Open Market Committee will go out of its way to craft a post-meeting statement that does not ruffle-the-feathers of either equity or credit market participants.



If, as is broadly expected, the Fed chooses to clearly indicate the first tightening of their benchmark short-term interest rates will not likely occur “for-a-considerable-period” of time -- this particular outcome will almost certainly prove to be a positive for the prospects of steady to fractionally lower mortgage interest rates ahead.



On the other hand, if the Fed implies it believes the economy has gathered enough sustained momentum to potentially necessitate a tightening of the Fed’s benchmark short-term interest rates prior to mid-2015 – look for mortgage investors to almost immediately respond to the news by pushing mortgage interest rates higher from current levels.



It is a relatively close call – but I think the phrase “for a considerable period” remains firmly imbedded in the FOMC’s post-meeting statement this time around. I will present a synopsis of the Fed’s post-meeting statement on my website as soon as possible following the document’s release at 2:00 p.m. ET.



As they do every Wednesday, the Mortgage Bankers of America have released their mortgage application survey figures for the week ended October 24th. The composite index fell by 6.6%. Refinance requests edged 5.0% lower, while purchase money activity fell by 7.4%.





On a four-week moving average basis, refinance activity has increased by 22.4% over the past month and is higher by 12.8% from one year earlier. Purchase application demand has retreated by 0.8% over the past month and remains 3.6% below the year-ago mark.



For the week ended October 24th, refinance applications accounted for 64.5% of all mortgage loan app activity.



The contract rate for 30-year conforming mortgages rose by 3 basis-points to 4.13%. The interest rate is 20 basis-points lower from four-weeks ago and 20 basis-points below where it was this time last year.



The Treasury Department will be in the credit markets today looking to peddle $35 billion worth of 5-year notes. This event will likely exert little, if any influence on the trend trajectory of mortgage interest rates today. The sale will conclude at 1:00 p.m. ET and I will post the auction result on my website as soon as possible thereafter.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

Recent Additions to The Sweetwater Real Estate Page View The Sweetwater Real Estate Page
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
 
20511 S Providence Point
Katy , Texas   77449
$149,900
Agent: Josephine Bruno     281-702-4856
Realty Associates
Date listed on this site: 10/4/2014

Loan Officer: Jim Norris (RMLO #304627)

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20511 S Providence Point Katy Texas 77449
 
5216 W Elkhorn Rd
Las Vegas , Nevada   89131
$449,900
Agent: David Schmidig     (832)888-0004
Nationwide Realty
Date listed on this site: 10/4/2014

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

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5216 W Elkhorn Rd Las Vegas Nevada 89131
 
5223 Crystal Bay Dr
Houston , Texas   77084
$155,000
Agent: Dianne deGeurin     (713) 789-9999 x102
DeGeurin Realty, Inc.
Date listed on this site: 10/3/2014

Loan Officer: Houston Loan Officer (RMLO #304627)

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5223 Crystal Bay Dr Houston Texas 77084
 
 
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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

 

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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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