Monday, December 28, 2009

Market Update

Monday's bond market has opened in negative territory following minor gains in stocks. The stock markets are starting the week in positive ground, but not by much. The Dow is currently up 12 points while the Nasdaq has gained 4 points. The bond market is currently down 8/32, which will likely push this morning's mortgage rates higher by approximately .250 of a discount point compared to Thursday's morning rates.
There is no relevant news scheduled for release today, leaving the stock markets to heavily influence bond trading and mortgage rates. If the major stock indexes remain near current levels, I suspect that bond prices and mortgage rates will follow suit today.

Monday, December 7, 2009

Market UPDate

Monday's bond market has opened in positive territory, recovering part of Friday's sell-off. The stock markets are showing modest gains with the Dow up 20 points and the Nasdaq up 3 points. The bond market is currently up 8/32, which should improve this morning's mortgage rates by approximately .250 of a discount point from Friday's morning rates.

This week is fairly light in terms of the number of economic releases scheduled for release. There are only three on the agenda but one of them is considered to be very important and can heavily influence the markets and mortgage pricing. In addition, there are two Treasury auctions the middle part of the week that may hurt or help boost bond prices, depending on how strong of a demand there is for the sales. Since all of the relevant data is scheduled for release Thursday and Friday, the most movement in rates will likely be the middle or latter part of the week.

Sunday, November 22, 2009

Market UpDate

This holiday-shortened week brings us the release of seven relevant economic reports for the markets to digest. All of the week's data is being posted over just three days, so the first part of the week should be interesting for mortgage shoppers.

October's Existing Home Sales data will be posted late tomorrow morning. This report, along with Wednesday's New Home Sales data are the least important reports of the week. They give us a measurement of housing sector strength and mortgage credit demand, but the bond market generally does not rely heavily on their results. They both are expected to show increases in sales, indicating that the housing sector may be strengthening.
The first important data comes early Tuesday morning when the first revision to the 3rd Quarter Gross Domestic Product (GDP) will be posted. The GDP revision is expected to show a downward revision from last month's preliminary reading of a 3.5% annual rate of expansion. Curre nt forecasts call for a reading of approximately 2.9%, meaning that there was less economic growth during the third quarter than previously thought. This would be good news for the bond market and mortgage rates, but it will likely take a smaller than expected reading for this report to improve mortgage rates

Sunday, November 15, 2009

Market UPDate

This week brings us the release of six monthly economic reports for the markets to digest. With very important data scheduled for release three different days and relevant data four of the five days, we will likely see a fair amount of volatility in the markets and mortgage pricing this week.

The first data is one of the most important reports of the week. The Commerce Department will give us October's Retail Sales figures early tomorrow morning. This data measures consumer spending, which is considered extremely important because it makes up two-thirds of the U.S. economy. It is expected to show a 0.9% rise in spending, meaning consumers spent much more last month than they did in September. This would be considered negative news for bonds because large increases in spending fuels an economic recovery and raises inflation concerns in the marketplace. If tomorrow's report reveals a smaller than expected increase in spending, bonds should react favorably, pushing mortgage rates lower. If it shows a larger than expected increase, mortgage rates will likely move higher tomorrow.

Saturday, October 24, 2009

The Whales Are BACK!

Every year from October to April we are blessed with thousands of humpback whales in Hawaiian waters.
This the a most fascinatiing natural phenomemon that occurs in Hawaii. They make their 3,000 mile journey from Alaska to Hawaii. The whales come to mate, give birth and raise their calves.
The Hawaiian islands is a unique location that is virtually predator fee with warm waters and a variety of ocean depts and the wonderful visibility that is believed to brings them here.

Just a few facts about the Humpback Whale;

  • Adult humpbacks may get up to 45 feet and 40 tons.
  • Life expectancy is 50 years.
  • They do not sleep.
  • They have very few predators...Humans...sharks and orcas.
  • They do not feed while in Hawaii, they live off their fat built up while feeding in Alaska.
  • Gestation is 11-12 months.
  • Average calf is 1 to 1.5 tons and is 12 - 14 feet long at birth
  • Mother humpback with teach the baby things like breaching, tail slapping and other whale behavior while in Hawaiian waters.
  • Calf will gain about 100 pounds and one inch per day.
  • The humpback whale was once near extinction due to hunting. They are still on the endangered list but their number are growing.

Maui Whale - Free videos are just a click away

Monday, October 19, 2009

Roxy's Weekly Mortgage UPdate

This week brings us the release of five economic reports for the markets to digest. Only one of these reports is considered to be highly important to mortgage rates, but this by no means leads me to believe we will have an uneventful week. This will be an extremely busy week for corporate earnings, which usually translates into stock volatility. The lack of important economic data on this week's calendar makes it more likely that any significant swings in stock prices will influence bond trading and mortgage rates.
September's Producer Price Index (P PI) is the first report of the week and the most important of the five. This index measures inflationary pressures at the producer level of the economy. Analysts are expecting to see no change in the overall index and a 0.1% rise in the core data reading. The core data is the more important of the two because it excludes more volatile food and energy prices. A larger than expected increase could fuel inflation concerns in the bond market and push mortgage rates higher. However, weaker than expected readings should lead to lower rates Tuesday.

September's Housing Starts is the second report of the day, but is one of the week's least important pieces of data. It gives us an indication of housing sector strength and mortgage credit demand, but usually is not a mover of mortgage rates. It is expected to show an increase in starts of new homes last month. If it varies greatly from forecasts, we could see the bond market have some reaction to the news, but probably not enough to cause much movement in rates. The PPI report should be much more of an influence on mortgage rates Tuesday than this housing report will

Monday, October 12, 2009

Roxy's Weekly Mortgage Update

Mortgage rates spent the first part of last week sliding lower again, but rates began creeping upward as the week progressed. With limited economic data to drive bond markets, much of the movement came
from money flowing into stock markets, which rallied as the week progressed.
Mortgage rates will likely start the week with some upward pressure hanging on from last week, but with a week full of economic data and some potential news from Washington, we could see rates go
either way next week. Both Retail Sales and Industrial Production data are due next week. With
consumers still struggling, a near unchanged sales reading might help propel rates higher, as would a
higher-than-expected IP reading. However, we’ve got the Consumer Price Index due with
expectations of continuing low inflationary pressures. If the CPI remains unchanged, and Congress
begins to move in earnest to extend or expand tax credits for homebuyers, we’re likely to see
mortgage rates return to the slow march downward, similar to the trend of last few months.

Wednesday, September 30, 2009

Roxy's Weekly Mortgage UpDate

Mortgage rates remained flat again this week as traders seemed to continue to hold a balanced view of the improving economy, muted inflationary pressures, and government support for financial markets.
We did see a few more signs of improving conditions, and also reminders that we are still not on solid
footing yet. The Fed also meet last week, leaving rates unchanged as expected. As the economy
improves, it is very likely that the Fed will let various support programs expire, such as the $300
billion program of buying Treasury debt that expires in four weeks.
This is a jam-packed week of economic data for markets to digest. The reports include the final
reading for last quarter’s GDP, the ISM Manufacturing Index, Consumer Confidence, and
September’s employment report. After the Fed’s meeting last week, if the data comes in revealing
growing economic strength, it would not be surprising to see mortgage rates beginning to trend slowly
upward. However, if unemployment jumps to 10.0%, we’ll see rates stay low.

Friday, September 25, 2009

Aloha Friday.... TGIF

Another week bites the dust.... I do love Friday's coming in second to Saturday! The end of summer brings our first big swell to Oahu's North Shore. Surf's UP, 18 to 20 footers this weekend could bring out all the locals and tourists and that means a busy, bustling NS, both Pipeline and Sunset beaches will be a sight to see for all. STAY out of the water if you’re NOT a very experienced surfer and even if you surf be careful.
More people are killed in high surf in Hawaii than any other place in the world. Don't go down to the water's edge YOU will get pounded! Sit back high on the beach and watch the beauty. I like to watch those crazy experienced surfer's tear it up! Using Jet Ski's to sling them onto those fast..BIG waves... incredible action!

Have a great weekend and stay safe.... Mahalo

Wednesday, September 23, 2009

What's Going On In The Market

I found this article to be of interest and thought you might too;

by Lonnie Adams, Director of Capital Markets

Both bond and equity markets are flat this morning, just waiting to hear what the Fed prognosticators have to tell us. The Fed announcement will occur around 11:15, AM, Pacific time; however, between now and then the U.S. Treasury will auction $40 billion of 5 year notes. While the Fed is expected to state economic prospects have brightened, the Fed will also tell the markets they remain committed to providing a helping hand to ensure a lasting recovery. Regardless of your politics, one thing that will definitely hamper any economic recovery is the expiration of the Bush tax cuts---set to expire in 2010. The current administration and Congress have already made it clear they will not extend these cuts. So, when you think only the wealthy will experience a tax increase next year, lets review what will be happening to tax rates. The 10% bracket will increase back to 15%...a tax burden hike of 50%! The 25% bracket will increase back to 28%...a tax burden hike of 12%. The 28% bracket will increase back to 31%...a tax burden hike of 10.7%. The 33% bracket will increase back to 36%...a tax burden hike of 9.1%. The 35% bracket will increase back to 39.6%...a tax burden hike of 13.1%. Keep in mind this does not include any tax increases required to pay for the new healthcare program. It is hard to imagine an economic recovery if we all have less in our paychecks.

Monday, September 21, 2009

Roxy's Weekly Mortgage UpDate

The “recession is very likely over,” announced Fed Chair Ben Bernanke last week.
While this may be technically true, markets did not react with the usual leap upward in interest rates.
Instead, mortgage rates continued their very slow downward decent. While we may finally be in a period of economic growth, we may be far from a reasonable economic recovery. As long as unemployment remains elevated, we may see inflationary pressures held in check. This combined with a slow unwinding of
federal intervention in financial markets may lead to a lengthy period of low rates. However, markets
may react with rapidly increasing rates if significantly better-than-expected data is released, or if
rumors of termination of certain government programs circulate.
The direction that mortgage rates move this week is very likely to be dependent on the Fed’s policy
announcement on Wednesday. If the Fed issues any surprises for the market, such as the termination
of any support programs, we could see rates rise. Otherwise, they should stay fairly level.

Sunday, September 20, 2009

FEES Associated with Purchasing or Refinancing Your Home

Settlement costs

There are so many different charges involved in buying a home, it is important to know what to expect at the settlement. Your lender is required to give you a Good Faith Estimate (GFE) of your settlement costs within three business days of your loan application. Once you get it, review the charges below to avoid any surprises when you sit down to close on your loan.

There are three basic categories of settlement costs:
Fees to get a mortgage. This includes lender fees and points, as well as a host of other charges involved in obtaining and processing your loan. Points are an upfront charge expressed as a percent of the loan amount (e.g., 1 point is 1 percent of the loan) to increase the lender's effective yield on a loan.

Specific lender fees can include:
Loan Origination Fee. This is a charge for your lender's work in evaluating and preparing your mortgage loan.
Application Fee – This charge covers the initial costs of processing your loan application and obtaining your credit report.
Appraisal Fee – Your lender will need an opinion from an independent appraiser of the market value of the home you wish to purchase.
Survey – This fee goes to a surveying firm who will verify that your lot has not been encroached upon by any structures since the last survey conducted on the property and to ensure that the home and other structures and legally where the seller says they are.

Mortgage InsuranceA lender may require this type of insurance for buyers who make a down payment of less than 20 percent of the value of the house. The policy covers the lender's risk in the event the buyer fails to make the loan payments. Premiums are typically paid annually from an escrow or reserve account, or in a lump sum at closing.

Homeowner's Insurance Insurance that protects property against loss caused by fire, some natural causes, vandalism, etc., depending on the terms of the policy. Also includes coverage such as personal liability and theft away from home. Your lender will expect you to have a policy in effect by closing.

Fees to establish and transfer ownership of the property. Your lending institution is not likely to give you a loan on a house unless you can prove that the seller owns the property you want to buy. This is where title search and title insurance fees come into play. A title agent will verify that the seller is, indeed, the owner of the property and issue a title insurance policy to guard the lender against any errors that could have occurred in the searching process. The cost of the policy is usually based on the loan amount. There may also be attorney, escrow, courier fees and other charges involved in the settlement process.

Fees to state and local governments. These fees include transfer, recordation and property taxes collected by local and state governments. Your taxes based on the assessed value of the home, which you pay for community services such as schools, public works, and other costs of local government. Taxes can often be paid as a part of your monthly mortgage payment.

Thursday, September 17, 2009

Market UpDate

Thursday's bond market has opened in positive territory, following suit with stocks. The stock markets are continuing yesterday's positive tone, but to a much lesser scale. The Dow is currently up 23 points while the Nasdaq has gained 4 points. The bond market is currently up 8/32, which will likely improve this morning's mortgage rates by approximately .250 of a discount point
Neither of today's economic releases are considered to be of high importance to the markets and have not had much influence on this morning's mortgage rates. The Labor Department reported that 545,000 new claims for unemployment benefits were filed last week. This was lower than expected and can be considered negative news for bonds. However, the short period that this report tracks usually means it does not heavily influence trading or mortgage pricing.
August's Housing Starts report was also posted this morning, showing an increase in starts of new homes from July to August. This data helps us measure housing sector strength, but is also not one of the more important reports we see each month. Its results also have had little impact on this morning's mortgage rates.
There is no relevant data scheduled for release tomorrow, so look for the stock markets to influence bond trading. I would not be surprised to see bonds move in the same direction as stocks. Either way, we probably will have a relatively calm day in mortgage rates tomorrow unless something totally unexpected happens.
If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best in terest of all/any other borrowers.

Tuesday, September 8, 2009

Roxy's Weekly Mortgage Update

Mortgage rates slipped slightly last week, even as more signs of economic recovery appeared.
The highly-regarded ISM Manufacturing Index moved upward to 52.9, on expectations that it would only
reach 50.2. Any reading that is above 50 indicates that manufacturing is expanding in the US. Its
sister index, the ISM Non-Manufacturing, or Services Index, also climbed, but only to 48.4. Not all of
the data was good news last week, as the unemployment rate climbed unexpectedly to 9.7%.
However, financial markets did not react all that strongly to the news, as most analysts are anticipating
that the unemployment rate will top 10% before this recession has run its course.

News also came outthis week that more top economic forecasters are predicting that the US economy will begin growing in the current quarter, with some estimates for 3rd quarter GDP as high as 3.5%.This week has only a few economic data releases to influence rates. The current slightly downward
trend in mortgage rates is likely to last through the week, and may even last for a few more weeks.

Friday, September 4, 2009

Aloha Friday... TGIF...

I do love Friday's specially leading into a Holiday weekend... Labor Day is already here and an end to summer is fast approaching. Summer just flew by but I have some wonderful memories to show for it.
I hope you can say the same. This Friday I have a special day planned with my grandson's, school is out today so they have an early start to their weekend, four days off WOW what a treat! So today we are off to the movies and the FUN Factory.
 But before I go I'd like to share a little aloha and tell you about what happened yesterday on our beach because although it happens occasionally it such a sight that we get excited each and every time we are granted a visit. The Hawaiian Green Sea Turtle listed on the endangered species feeds on the kelps that grow on the reef just a few feet off our shore. We can see them swimming on most any day but to get one up on our beach is rare. Yesterday we discovered not one but two turtles basking in the sun on our beach. I have to tell you they do raise a ruckus when people see them lying on the beach. If you are a people watcher like me then you'll get a kick out the some reactions, people passed them by without notice thinking they are rocks, some think they are in need of medical attentions or possibly dead. Some passer bys stop and take pictures or unfortunately try to pull them back into the ocean. These beautiful prehistoric creatures are incredibly tolerable of our interest in them specially when discovered on land. The older turtles will just ignore us and continue their slumber while the younger ones get irritated and retreat back into the ocean. If you happen on a Hawaiian Sea Turtle or any marine life basking in the sun please do not touch it, disturb it in any way, Stay a good 10 feet away as Federal Law requires.
Children of course are very interested and want to touch them, get as close as possible, like up in their faces close. PLEASE do not let your children do this, I've never seen it but they do bit if they feel threaten and on land they are most venerable. Enjoy them but keep your distance.Share your encounter with a turtle or any marine life in the comment area. I'd like to hear about it. Mahalo

Market Update

Friday's bond market has opened in negative territory after today's major employment news did not reveal significantly weaker than expected readings. The stock markets have reacted mildly to the news though with the Dow up just 30 points and the Nasdaq up 8 points. The bond market is currently down 12/32, which will likely push this morning's mortgage rates higher by approximately .125 of a discount point over yesterday's morning rates.

Thursday, September 3, 2009

Market Update

Thursday's bond market has opened in negative territory after the stock markets opened with minor gains and there was no important economic data on the calendar to influence trading. The Dow is currently up 25 points while the Nasdaq has gained 5 points. The bond market is currently down 4/32, which will likely push this morning's mortgage rates higher by approximately .125 of a discount point.

Wednesday, September 2, 2009

Foreclosure OR Loan Modification

Are you in foreclosure or late on your mortgage? The latest foreclosure statistics are in and once again the news isn’t very good. In the 2nd quarter of 2009 tells us that one in every 159 homes in the US have received a foreclosure filing. Nevada continues to rank the highest state foreclosure rate. Arizona is second and California is third with 1 in every 58 housing units receiving a foreclosure filing.
Enough with the stats…. What’s important is if you are one of them right? Well if you are, there are things you can do. If you are in foreclosure and WANT to keep you home then hopefully this article with give you some needed information.
There are several places you can go and get information FREE. You can even talk with a HUD counselor FREE by calling 1 888-995-HOPE (4673). It’s important you take the steps to get this information before you lose your house. Time is of the essence. The HUD counselor will guide you so you can do your own modification or help you by contacting your lender for you. They will help you to see if you are within the guidelines for a loan modification and see if you qualify. Call them or go online MakingHOMEAffordable their site is full of information too.
Another really good source is Society for the Preservation of Continued Homeownership visit SPOCH’s Website for more information. This is a nonprofit, education and charitable corporation.
I encourage you to try to do your own loan modification. You can deal directly with your lender. Call your mortgage servicer immediately. In most cases they will hold off foreclosure while you’re going through the loan mod approval process.
Another source less expensive than an attorney is Financial Aid America, they sell a kit to help you understand and give you all the information you need to do your own loan modification with our lender. They also provide 3 month of 24/7 customer support.
There are many companies springing up all over the country offering Loan Modification for people in distress. BE CAREFUL there are many scams out there too. Never pay upfront!!!!! NEVER did you hear me NEVER. Most legitimate companies offer to look at your financial situation to evaluate your legibility for a loan mod, then if they think you are a good candidate they will take your case and charge you, NEVER GIVE ANYONE $$$ unless they have a 100% guarantee in writing. If they end up with a decline from your lender YOU get your money back. OR at the very least MOST of your money back. Good Luck and I am here if you have any questions.

Market Update

Wednesday's bond market has opened in positive territory following early volatility in stocks and favorable economic data. The stock markets have fluctuated between positive and negative ground this morning, but the Dow and Nasdaq are both currently up a couple of points. The bond market is up 4/32, which with yesterday's late strength should improve this morning's mortgage rates by approximately .250 of a discount point compared to yesterday's morning rates.

Tuesday, September 1, 2009

Market Update

Tuesday's bond market is in negative territory after this morning's primary economic release showed a much stronger than expected reading. The stock markets are showing losses with the Dow down 88 points and the Nasdaq down 12 points. The bond market is currently down 5/32, but I don't think we will see much of a change in this morning's mortgage rates due to strength late yesterday.

Monday, August 31, 2009

Roxy's Weekly Mortgage Update

As the news continues to proclaim that we are breaking free of this painful recession, mortgage rates continue to stay in a very tight range, remaining at extremely low levels. There is little doubt that this
is contributing to some positive news in the housing marketing. According to the S&P/Case-Shiller
20-city home price index, we’ve now gone two months with prices actually increasing. While there
are many elements necessary to moving out of this recession, stabilization in the housing market will
significantly contribute to overall economic recovery.

This week is a jam-packed week of important economic news. The ISM Manufacturing Index is
expected to tic over the 50-mark, indicating that manufacturing is finally expanding. Employment
data is also due on Friday, with expectations of minimal change to our present situation. Even if we
have good economic news, we could see rates not climbing too severely as lenders are beginning to
see lessening risks of foreclosures as the housing market shows signs of recovery.

Market Update

Monday's bond market has opened in positive territory following early stock weakness. The stock markets are ending the month on a negative note with the Dow down 90 points and the Nasdaq down 25 points. The bond market is currently up 6/32, which will likely improve this morning's mortgage rates by approximately .250 of a discount point.

Sunday, August 30, 2009

Investing In Foreclosures

In an effort to turn a negative situation to a positive I thought I’d write about the foreclosure market and investing in bank owned properties or more commonly call REO’s. Information is everything so I’ve put together a short list of websites and information to help you get started. I will continue to add to this information as I discover it as I am always learning too.

You need to know what properties, how much the loan amounts are and what time frame you have to work within. The county in which the property is located is the best source of this information. Check with the county recorder’s office for Default Date, Sale Dates and you can get a copy of the deed or mortgage there as well. To make it easier you can subscribe to a service that obtains these records and sells the information through monthly membership. Here are two I can recommend; and this will save you time from looking them up. Once you know what properties are in default you can meet with owners directly and offer to buy, you can arrange financing to save the property and possible rent back to current owners or whatever you think is appropriate for all involved.
I put together a list of websites to help you gain the knowledge you need. It’s important you go into real estate investing with eyes wide open. Researching and planning is critical to a new investor. Remember staying within the laws of the state the property is located is crucial, do your research, find out the states uses for Mortgage or Trust Deeds, legal time frames are important too.

Simply Foreclosures A free beginner’s guide to foreclosures.

SmartHOMEBUY Complete property reports covering; Comparable sales, property valuation, crime, schools, natural hazards, environmental information and more….
Yahoo! HOME Values How much is your property worth?
Domania provides the easiest access to home values and real estate tools to help you with your property search
ZILLOW  Look up home values, talk to real estate agent, loan consultants, ask questions, maps and lots more.I personally love this site, look me up I am an approved lender.
Legal WIZ Great site to obtain forms.
Money is important too; having some is helpful you will need some to back your purchases. If you don’t have money you can still do deals, find properties etc. but finding someone who is willing to invest in your deals would be a helpful source. So if you’re not in the money now find someone to help you with your first couple of deals until you can invest on your own. But even if no one and no money is your situation, deals are out there, don’t let the lack of money stop you from doing a deal.
Click Here for Mortgage Calculator or visit my website for more information.
Roxy's WEBSITE great place to learn about financing and real estate.
Roxy's BLOG I write about Real Estate… Financing and my life on Oahu’s North Shore.
There is much to learn, you can attend Seminars, you can purchase a array of books and courses. You can search the internet. Whatever you do don’t take any short cuts. But don’t let anyone tell you, you can’t do it. Knowledge is power just waiting to be used.
Call me anytime and I will help you with whatever I can to get you moving in the right direction to meet your goals. Good Luck!

Friday, August 28, 2009

Aloha Friday... On North Shore

TGIF..... It's been a great week. I've completed some projects that have been hanging over my head. It's a beautiful morning on the North shore of Oahu, we have a little bump in the surf 3 to 5 ft waves are forecasted the next couple of days. That will make our little town of Haleiwa a surfing magnet and busy. You would never know their was anything wrong with the economy by looking a Haleiwa anytime after Noon on most any day. It's just a bustling little town full of tourist shopping at all the specialty shops and eating at our great restaurants. On the weekends we get locals from other parts of the island enjoying some away time in the country. Living in this sweet little part of paradise is really wonderful. Seeing it come a live with people is fun. I love to people watch. Specially our Japanese visitors, they are so much fun. I really need to learn the Japanese language, wouldn't it be fun to communicate with them in their own language. If you are planning a trip to Oahu, North Shore is a must see! Call me if your in town I'll tell you some hot spots to visit. Maybe we can have a cup of coffee at the Coffee Gallery. Aloha and Mahalo for visiting my blog. Have a great weekend!

Market Update

Friday's bond market opened in negative territory following early gains in stocks, but the markets have since swapped positions with stocks in negative ground and the bond market up slightly. The Dow is currently down 40 points while the Nasdaq is nearly unchanged from yesterday's close. The bond market is now up 2/32, but we will likely still see an increase in this morning's mortgage rates of approximately .125 of a discount point

Thursday, August 27, 2009

Market Update

Thursday's bond market has opened flat again as investors seem to be unmoved by recent economic data. The stock markets are showing losses with the Dow down 30 points and the Nasdaq down 19 points. The bond market is currently down 5/32, but I am not expecting to see much of a change in this morning's mortgage rates.

Flipping Houses

I get a lot of questions from my clients who want to invest in real estate. Most people are taking the conservative approach and asking lots of questions and being very cautious and in today’s market they should be very careful. Some of the questions being asked most frequently are about flipping houses. Can it be done and how does it work. Can I really make lot of money and possibly replace my job? YES, it can be done but I wouldn’t give up your day job so soon. Flipping houses is harder than it looks and should not be ventured into unless you’ve done your homework and you’re ready for a challenge.

If you’ve been thinking and dreaming of making money in real estate, now is a great time in our economy to get started. As a nation we need people to start the recovery process and as individuals we can do this by buying up foreclosures and REO properties under market value the key to making money flipping houses. The housing market will NOT recover until these properties are sold off and are no longer setting low values in our neighborhoods. Many of these homes have been striped or need major repairs. You buy low and sell them for a profit. Flipping house is a great way to make a fortune in real estate, so don’t listen to anyone who tells you it cannot be done.

There are loan programs to help with low downs and restoration loans. Seller credits are allowed for closing costs, so you can get started with little out of pocket expenses. Smart shopping and learning the things to do and not to do is the hard part. You can get information about house flipping on also see investor blogs for 1st hand real stories. They have FREE Access to Flipping Homes tips, strategies and experts. Putting together a team is essential; a Realtor is essential and will be your biggest asset when it comes time for finding the right property and negotiations with the seller. Find one you can either partner up with or someone you are really confident in to help you. Having a Loan Consultant is also essential and can make it easier both with your purchase and then when selling your flipper the Loan Consultant will help qualify your buyers. In today’s market we are seeing most houses bought by First Time Home Buyer, so sticking to affordable home or staying in the conforming market would be a wise choice. That’s any loan in most states of 417,000.00. or below. When you ready to get started flipping properties call me, I’d love to help you make it as a flipper.

Wednesday, August 26, 2009

Beautiful Day On The North Shore

Today is one of those day you thank god for being alive. I woke up at 5:30AM to beautiful purple cloudy skies over the ocean, calm winds and the birds calling over the waves breaking in a distance. Made some coffee and just watched the clouds that eventually opened up and gave us a light rain that quickly move through and bought us the sun breaking over the mountains to the east over Waimea Bay. Work however is calling and I must get to it. Just wanted to share my slice of heaven on earth. Good Morning!

Market Update

Wednesday's bond market has opened flat despite stronger than expected economic news. The stock markets are showing minor gains with the Dow up 30 points and the Nasdaq up 6 points. The bond market is nearly unchanged from yesterday's closing level, but we will still likely see a slight improvement in this morning's mortgage rates due to strength in bonds late yesterday.

Tuesday, August 25, 2009

Market Update

Tuesday's bond market has opened in negative territory after this morning's economic news showed a higher level of consumer confidence than was expected. The stock markets are showing gains with the Dow is currently up 70 points the Nasdaq up14 points. The bond market is currently down 7/32, but we will see an improvement in this morning's mortgage rates of approximately .375 of a discount point due to strength late yesterday.

Monday, August 24, 2009

Roxy's Weekly Mortgage Update

With the Fed’s recent policy announcement, and the comments of various Fed officials over the last

two weeks, many believe that the Fed will support low mortgage rates at least until we see economic
growth return in earnest. This, combined with more news last week that inflation is not a near-term
issue, helped mortgage rates ease back downward. Even with additional signs that the economy is
coming back to life, including another increase the Leading Indicators, rates still moved downward.

Short of very unexpected economic news, mortgage rates do not have far to move downward. As has
been the case for some time, the potential for a spike upward is significantly higher than the potential
for a large drop. This week holds two pieces of economic data that could move rates. Consumer
Confidence is expected to recover some, but 2nd quarter GDP is expected to be revised to -1.5%. If
we see Confidence rise significantly and GDP is revised upward, we could be watching mortgage rates
climb as we move through the week. Otherwise, rates are likely to stay relatively flat.

Market Updates

Monday's bond market has opened in negative territory following early stock gains. The stock markets are kicking the week off by continuing Friday's rally. The Dow is currently up 73 points while the Nasdaq has gained 13 points. The bond market is down 5/32, which with Friday's afternoon weakness should push this morning's mortgage rates higher by approximately .375 of a discount point compared to Friday's morning

Thursday, August 20, 2009


I am really bad about posting on my blog, one of these days I'll get to it on a regular basis. A bigger audience would help. Sometimes it seem like I'm blogging to myself. So if your out there and you come across my blog, make a comment or ask a question. At least I'll know someone is looking.

More Market UPdates

Additional evidence appeared last week that we may be very close to the bottom of this recession.While it is the nineteenth straight month of job losses, July saw only 247,000 jobs lost with a tiny improvement in the unemployment rate. The ISM Manufacturing Index also revealed greater signs of life than expected. Mortgage rates did end the week with some upward pressure that may continue into this week, especially if the positive economic news continues.

While this week is packed with important economic data, the most influential news of the week could be the policy announcement that accompanies the Fed’s rate decision. The Fed is expected to leave rates unchanged, but analysts are seeking hints on how the Fed will unwind itself from financial markets. This year, the Fed has purchased nearly every mortgage-backed security on the market. If the Fed hints it will begin slowing those purchases, we could see rates rise.
However, if the Fed offers no hints, we may see some flattening pressure on rates, even with good economic news.

Tuesday, February 24, 2009

Roxy's Weekly Mortgage Update

Mortgage rates experienced some downward pressure last week even with the PPI and CPI revealing that inflation has not completely left the marketplace. Stock markets had a rough week with more sour economic news, including the President’s announcement last week regarding housing. Many analysts were disappointed that the details of the plan will not be announced until March.
This week is another busy week for the market, with both Consumer Confidence and GDP numbers due, and more news that could move mortgage rates. If Confidence numbers continue to stay at a low level, we could see rates move down further with fears that consumers will finally snap their pocketbooks closed.
The GDP numbers for the final quarter of last year are expected to be revised
down below 5.0%. If this happens, we could see rates experiencing even more downward pressure. Fed Chair Bernanke also testifies before Congress this week. If he provides more specifics about plans the Fed has for housing, we are likely to see rates moving downward after his testimony.

Monday, February 16, 2009

Where I've BEEN

WOW what a holiday season. I can't believe it's been so long since I've posted something on my blog.
On December 28, 2009 my beautiful daughter Rebecca gave birth to my fifth grandson Robert.
My other daughter Miranda has decide to make the big move to Hawaii from CA. to be closer to her extended family. I couldn't be more happy about this decision. To help her, we decided to bring her two oldest boy back with me so they could get started in school and not miss any time. I've had Austin and Brody with me since Jan 13th. So as you can imagine I've been very busy with two boys and work, leaving no time for blogging. I don't know how you mom's are able to do this with little ones under feet. Miranda will arrive this Thursday and we are all very anxious to see her.
My business is going as well as can be expected in the economic downturn our country and the world is experiencing. I am hopeful we will recover in the next couple of years. In the meantime I am doing what I can to help my clients meet their goals and hang onto their security.
I hope to continue posting at least a couple times a week from now on and get back to my old schedule. I hope you will join my blog for more interesting news about Hawaii, the mortgage and real estate business.