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Daily Market Watch for Wednesday, November 26, 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 upcoming Thanksgiving Holiday has many mortgage investors choosing to remain on the sidelines rather than deal with risk considerations during this week’s short trading sessions.



Mortgage investors appear to have largely shrugged off this morning’s mortgage interest rate friendly economic news. Weekly jobless claims jumped to an 11-week high; consumer spending and income growth for October were disappointing, durable goods orders other than military and commercial aircraft were anemic, and new home sales fell short of expectations. The collective data did produce a price rally in the mortgage market – but the early enthusiasm favoring fractionally lower mortgage interest rates faded almost as quickly as it appeared.



The Treasury Department will be in the credit markets looking to sell $29 billion worth of 7-year notes today. Demand for yesterday’s $35 billion of 5-year notes proved stronger-than-expected. If buyers are as eager to own today’s offering of 7-year notes -- the auction result should prove supportive of steady mortgage rates through the balance of the day. I’ll post the result of today’s sale on my website as soon as possible once the final gavel falls.



As they do every Wednesday, the Mortgage Bankers of America have released their mortgage application survey figures for the week ended November 21st. The composite index fell by 4.3%. Refinance requests dropped 3.5% while purchase money activity slumped by 4.8%.



On a four-week moving average basis, refinance activity has fallen by 1.0% over the past month but is lower by 21.3% from one year earlier. Purchase application demand has climbed by 1.2% over the past month but remains 10.6% below the year-ago mark.



For the week ended November 21st, refinance applications accounted for 62.8% of all mortgage loan app activity.



The contract rate for 30-year conforming mortgages fell by 3 basis-point to 4.15%. The interest rate is 2 basis-point higher from four-weeks ago and it is 33 basis-points below where it was this time last year.



Looking ahead to the coming week Monday’s November Institute of Supply Management’s manufacturing index and the ISM’s November Service Sector Index on Wednesday with be nothing more than the warm-up act for the November Nonfarm Payroll report scheduled to be released at 8:30 a.m. ET on Friday, December 5th.



As I write, most analysts expect the employment data to show the economy created 228,000 new jobs in November. The national jobless rate is projected to tick down to 5.8% from October‘s 5.7% mark. If this assessment proves accurate, mortgage investors will not likely see much reason to push rates notably lower from current levels.
 
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
$312,000
Agent: Nicole Ford     (832) 295-1432
Real Estate Options of Texas, LLC
Date listed on this site: 11/22/2014

Loan Officer: Houston Loan Officer (RMLO #304627)

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1809 JANELL RENE DEER PARK TX 77536
 
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
 
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
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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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