|
U.S.
Treasury Bonds |
| Maturity |
Yield |
Last
Week |
Last
Month |
| 5
Year |
3.89 |
3.94 |
3.40 |
| 10
Year |
4.76 |
4.76 |
4.36 |
| 30
Year |
5.48 |
5.46 |
5.15 |
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Treasury Market Summary:
The market caught a
healthy bid, after being beaten down all week,
as players covered shorts and squared ahead of
the weekend. The trade was charged through most
of the session with activity coming right off
the early data, which showed strengthening price
and production, and kept flowing as the Michigan
sentiment number proved a disappointing 94.2 vs.
the expected 96.9. The consumer price jump was
led by housing, medication and education, while
industrial production rose a stronger than
expected 0.8% as capacity use rose to 76.9%. The
market began its uptick after pushing 10-year
yields to tag 4.9%, and started to rally as
short covered positions and as traders expressed
relief that "2-weeks of event risk are over."
The day's up move throws some of the bears into
confusion as technical indicators are set in
such a way "that we could go 2-handles in either
direction, depending on next week's early price
action," and of course, potential weekend
geopolitical issues. A light economic calendar
and the fact that the deep pockets in this
market are long may contribute to a continued
move higher next week, as the market tries to
squeeze the weakest shorts. |
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Economic
Indicators for this week that could impact the
mortgage or real estate markets include...
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Avoid the 10 Most Common,
Painful, Frustrating Mistakes
First-Time Home Buyers
Make
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Buying a residence can be a
hair raising experience. You will experience a roller coaster of emotions while
finding the right place, securing the loan and finally moving in. The first time
home purchase is the largest investment ever considered. The emotions of
purchasing something so expensive and personal can often cloud our business
judgment. Most home purchasers do little or no research before they invest their
nest egg. Doesn’t it make sense to become as completely informed as possible
before you buy your first home? This special report is designed to help you
avoid 10 common and crucial mistakes. The right real estate professional can
help you make good sound business decisions based on your personal situation.
-
Inspect, Inspect and Inspect
- Go over the
inspection report with a fine tooth comb. Make sure the report was done by a
professional organization. For condo purchases go over the CC&R’s, By-Laws,
and Association Fees. Don’t take anything for granted... inspect everything!
-
Imagine the Property Vacant -
Your furnishings and decorations will be the ones filling this new residence.
Don’t be swayed by beautiful furniture; it leaves with the owner.
-
Income + Lifestyle = Mortgage
Payment - Sit down
with your professional real estate agent and honestly discuss your income
level and living expenses. Take into account future considerations, children,
add-ons, amenities, and fix-ups. Your dream home is certainly worth a
sacrifice but don’t mortgage your entire future.
-
View Several Homes -
See at least 7-10 properties. Don’t move too slow but don’t move on the first
property you see. With your agent’s help you should be able to view enough
properties to get a good overall perspective of the home market. When you find
the right property all the leg work will be worth it.
-
Utilize Your Team -
By aligning yourself with the right real estate professional you will have an
entire team at your disposal. Utilize your lender, title rep and agent. Each
of them should work hand in hand for your benefit. Explore all the options
before you sign.
-
Be Columbo -
Check out all costs and expenses before you sign. Utilities, taxes, insurance,
maintenance and home owner dues if applicable. Make sure all utilities (gas,
electricity, and water) are on during your walk-through so you can inspect
everything in working order. Ask lots of questions and be very detail
conscious.
-
Do a Final Walk-Through -
Visit the property after all furnishings have been moved out to be sure there
are no surprises. Be absolutely positive the property was left exactly as you
had agreed upon in the contract. Things that could have been spotted in a
final walk-through are often unintentionally overlooked.
-
Plan For Flexibility -
Closing dates are not written in stone. Allow for contingencies and have a
back-up plan. If you or the sellers need a little more time to conclude the
final arrangements, don’t let these delays upset or frustrate you. These types
of circumstances are not uncommon in a real estate transaction.
-
If It’s Not In Writing, It
Doesn’t Exist -
All promises and discussions should be in writing. Don’t make any assumptions
or believe any assurances. Even the best intentions can be misinterpreted.
Have your professional keep an ongoing log in writing of all discussions and
get the seller’s written approval on all agreements.
-
Loyalty Breeds Loyalty -
Be open, honest and up front with your team. Hard feelings and disloyalty will
cause head aches, delays or may even keep you from getting into the home you
worked so hard to locate. Take the time to select the right team in the
beginning and your first home purchase will be a pleasing and memorable
experience.
The purpose is to stimulate thought for our clients
and those professionals we network with. One should consult with a qualified
real estate professional prior to implementing any real estate planning strategies. If
you are an estate planning, mortgage, real estate or financial planning professional receiving this newsletter, please call
our office and introduce yourself to us. We are always seeking to grow our
referral network and expose more service professionals to our client base.
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