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Daily Market Watch for Friday, October 24, 2014 (Courtesy of Larry Baer and Market Alert )
SHORT-TERM TREND (5 days or less). Favors higher rates and lower 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 pace of September New Home Sales came in roughly where economists had projected it would – posting a gain of 0.2%. On the downside, a sharp downward revision to the August number removed what had been thought to have been the best-performing sales month since May 2008. The revised annualized sales volume in August was 466,000 versus the originally reported 504,000 unit pace.



Median new home sales prices fell to $259,000 in September, down 9.7% from the August median price of $286,800. The September price drop resulted in the first year-over-year price decline since April. Homebuilders have been steadily pushing prices higher -- and are now probably at the point they will have to back-off of those increases a bit to move product.



Mortgage investors could look no further than their non-refinance pipelines and know that single-family sales were soft in September -- which virtually guaranteed this week’s data on home sales was already well priced into the market.



Looking ahead to next week – Uncle Sam will be in the credit markets conducting a three-day, three-part debt auction featuring $29 billion of 2-year notes on Tuesday, $35 billion of 5-year notes on Wednesday, and $29 billion of 7-year notes on Thursday.



The economic calendar offers September Durable Goods Order numbers on Tuesday, revised Q3 GDP figures on Thursday and the September Personal Income and Spending stats on Friday.



The Treasury auctions and the economic news will all take a distant backseat to the post-meeting statement from the Federal Open Market Committee expected to be released at 2:00 p.m. ET on Wednesday.



Investors broadly expect the Fed will end its third round of QE3 bond buying at this meeting. If so, the action really won’t have much impact on the current level of mortgage interest rates as long as the Janet Yellen led central bankers makes it abundantly clear they intend to hang on the record $4.48 trillion of Treasury debt and mortgage-backed securities they have accumulated since announcing the first rounds of quantitative easing purchases in November 2008.



Holding on to the Treasury debt instruments and mortgage-backed securities in the Fed’s balance sheet limits the supply of these securities floating around in public markets, which in-turn keeps prices up and yields lower than they would otherwise be – very good news for the prospects of steady to perhaps fractionally lower mortgage interest rates ahead.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

Recent Additions to The Sweetwater Real Estate Page View The Sweetwater Real Estate Page
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
 
327 Lake dr
Livingston , Texas   77351
$127,000
Agent: Audrey Thomas     281-443-6633
THE JAN JACKSON GROUP
Date listed on this site: 10/1/2014

Loan Officer: Jim Norris (RMLO #304627)

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327 Lake dr Livingston Texas 77351
 
 
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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