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Daily Market Watch for Wednesday, July 30, 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) Tilted in favor of higher rates and lower 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: Government data wonks took their first stab at “guesstimating” the pace of economic growth during the second-quarter of the year.



With a drum roll and some media driven fanfare it was announced earlier this morning Gross Domestic Product (a broad based assessment of the monetary value of all the finished goods and services produced within the country's borders in a three-month time period) rose at a 4.0% annualized pace during the second-quarter, the strongest improvement in this index since the third-quarter of 2013, and well ahead of the consensus estimate of economists calling for a second-quarter gain of 3.0%.



Consumer spending, the biggest component of the GDP economic growth index, rose by 2.5%, reflecting the largest gain in purchases of durable goods such as autos in almost five years.



The second-quarter growth acceleration more than reversed the first-quarter’s 2.1% contraction. Mortgage investors were more than a little surprised by the strength of today’s GDP report – a surprise which sent all of them scrambling to nudge mortgage interest rates fractionally higher.



The Treasury Department will be in the credit markets again today to peddle $29 billion worth of seven-year Treasury notes at an auction scheduled to conclude at 1:00 p.m. ET. The yield on this security has risen sharply over the course of the week to a level likely to draw solid demand from foreign and domestic investors alike. If this assessment proves accurate, this event will exert little, if any noticeable influence on the current trend trajectory of mortgage interest rates today.



The Federal Open Market Committee will wrap-up a two-day monetary policy meeting and issue their traditional post-meeting statement at 2:00 PM ET this afternoon. The central bank is widely expected to cut its QE3 driven monthly purchases of Treasury debt obligations and mortgage-backed securities by another $10 billion, but they are not expected to create much of a stir in the credit markets otherwise.



As they do every Wednesday, the Mortgage Bankers of America have released their Mortgage Application Survey Index for the week ended July 25th. The composite index fell by 2.4%. The purchase index eked out a marginal gain of 0.2%, while refinancing declined by 4.0%.



On a four-week moving average basis, refinance activity has fallen by 2.6% over the past month and is lower by 42.9% from one year earlier. Purchase applications have declined by 4.3% over the past month and are 13.6% below their year-ago level. For the week ending July 25th, refinance applications accounted for 53.0% of all new loan app activity.



The contract rate for 30-year fixed-rate conforming mortgages was unchanged at 4.33% during the week. The interest rate is 5 basis-points higher from four-weeks ago and 25 basis-points lower from a year earlier.



This week will end with a deluge of data featuring the release of the June nonfarm payroll report at 8:30 AM ET on Friday morning -- which will be immediately followed by the release of the June Personal Income and Spending report and the release of the Institute of Supply Management’s July Manufacturing Index.



There are a lot of moving parts remaining on this week’s calendar. At this juncture -- few of those parts look like they will be particularly supportive of the prospects for notably lower mortgage interest rates and higher prices.
 
Commentary and Chart Courtesy of Larry Baer and Market Alert

Recent Additions to The Sweetwater Real Estate Page View The Sweetwater Real Estate Page
194 Edgemar
Montgomery , Texas   77356
$360
Agent: Denise Hackbarth     832.289.3226
Carrington Real Estate Services
Date listed on this site: 7/29/2014

Loan Officer: Jim Norris (RMLO #304627)

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194 Edgemar Montgomery Texas 77356
 
26922 Muscovy Ln
Hockley , TX   77447
$127,000
Agent: Denise Hackbarth     832.289.3226
Carrington Real Estate Services
Date listed on this site: 7/29/2014

Loan Officer: Jim Norris (RMLO #304627)

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26922 Muscovy Ln Hockley TX  77447
 
10 Shooting Star
The Woodlands , TX   77381
$469,000
Agent: Londa Carlisle     281-296-2949
Realty Associates
Date listed on this site: 7/29/2014

Loan Officer: Jim Norris (RMLO #304627)

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10 Shooting Star The Woodlands TX 77381
 
16903 WORTLEY DR
Houston , Tx   77084
$229,900
Agent: AL Mesrahi     281-513-8346
Remax Grand
Date listed on this site: 7/25/2014

Loan Officer: Jim Norris (RMLO #304627)

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16903 WORTLEY DR Houston Tx 77084
 
8107 SUN TERRACE LN
Houston , Tx   77095
$489,000
Agent: AL Mesrahi     281-513-8346
Remax Grand
Date listed on this site: 7/25/2014

Loan Officer: Jim Norris (RMLO #304627)

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 8107 SUN TERRACE LN Houston Tx 77095
 
9738 ravensworth
houston , Texas   77031
$139,900
Agent: AL Mesrahi     281-513-8346
Remax Grand
Date listed on this site: 7/25/2014

Loan Officer: Jim Norris (RMLO #304627)

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9738 ravensworth houston Texas 77031
 
22006 WILLOW SHADOWS DR
TOMBALL , Texas   77375
$165,900
Agent: Mariangel Wilkinson     832-482-5599
Texas United Realty
Date listed on this site: 7/25/2014

Loan Officer: Houston Loan Officer (RMLO #304627)

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22006 WILLOW SHADOWS DR TOMBALL Texas 77375
 
819 Levi Bnd
Magnolia , Texas   77354
$169,900
Agent: Rebecca Privette     (713)965-7165
United Real Estate
Date listed on this site: 7/24/2014

Loan Officer: Jim Norris (RMLO #304627)

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819 Levi Bnd Magnolia Texas 77354
 
 
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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