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Larry Weinstein’s

Weekly Mortgage Newsletter Week of Jan. 29, 2012 Mortgage Market Commentary

The Federal Reserve took center stage last week following through with its commitment to become more transparent. The Fed has revealed that it intends to keep rates "extraordinarily low" for a longer period than thought, potentially through 2014. Additionally, the Fed has now officially stated that it will use an inflation target to help control monetary policy. Following the Fed’s announcement, Fed Chair Bernanke revealed that the Fed is considering a QE3, potentially later this year. Mortgage rates had been on the rise, until this statement, which many interpreted as the Fed showing signs that it has significant concerns about the overall state of the economic recovery. This week is jam packed with economic news and data for markets to digest. We have both ISM Indices due, Consumer Confidence, and the monthly employment data. Should any of these reports reveal signs of economic slowing, mortgage rates are likely to move back toward record lows. However, a week of positive economic data could nudge rates just slightly higher at the week’s end.

Markets with Good 3-Year Home-Price Outlooks According to Local Market Monitor, a firm that analyzes markets for the banking industry, there are a number of markets in the US that have an excellent three-year outlook for home prices. Their research takes into account many factors, including jobs outlook, population trends, and real estate statistics. The top markets are McAllen-EdinburgMission, TX, San Jose-Sunnyvale-Santa Clara, CA, Akron, OH, Houston-Sugar Land-Baytown, TX and Pittsburgh, PA.

Stock Market Trend Dow Jones 12,750. 00

12,250. 00

11,750. 00

11,250. 00 1-Nov

15-Nov

29-Nov

13-Dec

27-Dec

10-Jan

24-Jan

Worth Remembering

Mortgage Rate Watcher 15 Day Rate Trend 30 Day Rate Trend

Î Î

30Yr

15Yr

1Yr ARM

4.00%

victor without having victims.

3.50% 3.00%

Market Volatility

High

You can stand tall without standing on someone. You can be a

2.50% 11/ 10

11/24

12/8

12/ 22

1/5

1/ 19

Harriet Woods

10 Year Treasury Note Trend 2.25

Private Mortgage Banker y NMLSR ID 21242

Direct 212-692-8361

2.00

Cell 516-236-7486

LWeinstein@decapitalmortgage.com 1.75 1-No v

15-Nov

29-N ov 13-Dec

10 Year Treasury Note

27-D ec

10-Jan

24 -Jan

20 Day Moving Ave

205 E. 42nd St., 6 th Floor, New York, NY 10017

All first mortgage products are provided by DE Capital Mortgage, LLC. DE Capital Mortgage, LLC may not be available in your area. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. ©2011 DE Capital Mortgage, LLC. All Rights Reserved. NMLSR ID 345546 #564987 3/11-06/11

Weekly Mortgage Update  

Weekly update on the mortgage industry, rates, new legislature, etc.

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