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FIDELITY NATIONAL TITLE'S WEEKLY NEWSLETTER

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Newsdesk | Volume 3 | Issue 251 | September 25, 2009
Top News
Fed: Upbeat, optimistic – USA Today – – of mortgage-backed securities and another $200 billion in mortgage-related debt by year’s end. The initiative has lowered mortgage rates. On Wednesday, the central bank said it would buy a total of $1.25 trillion by March 31. ‘I think that’s very
Video: FHA Commissioner Speaks Out – MSNBC – – Extract not available.
B of A pays $425 million to end government agreement – MSN Money – – B of A had agreed to pay the government a fee of 3.7% in exchange. The arrangement was never used, but the government said the bank benefited from the promise of protection.
Market News
Existing home sales slide unexpectedly – CNN Money – – a four-month streak of increases with a dip of 2.7% in August. NEW YORK (CNNMoney.com) — Existing home sales fell in August, snapping a four-month streak of increases, according to a report released Thursday. Sales of previously-owned homes fell 2.7%
Mortgage rates hold at three-month lows – MarketWatch – – CHICAGO (MarketWatch) — Mortgage rates held their three-month lows this week, with the 30-year fixed-rate mortgage averaging 5.04%, unchanged from last week, according to Freddie Mac’s weekly survey of conforming mortgage rates
Home loan demand hits highest since late May – MSNBC – – U.S. mortgage applications jumped last week to their highest since late May as interest rates tumbled below 5 percent, data from an industry group showed on Wednesday.
Mortgage reform targets excessive costs – Inman – – Many borrowers duped into taking loans with higher rates Of all the issues that have bedeviled regulators and legislators dealing with consumer protection, perhaps the most troublesome have been abuses connected to mortgage loan originator
Technology News
Foreclosure.com Owner/CEO Launches QuickSale.com – PR Newswire via Yahoo! – – /PRNewswire/ — Foreclosure.com Founder, President and CEO, Brad Geisen, announced today that he has built the first-ever short sales offer management system that handles marketing, processing, negotiating and closing services all in one central
Best smartphones for business users – CNET – – Smartphones have changed the way we work, so no longer are we slaves to our desks. These PDA/cell phone combos help us stay in touch with the office, get work done on the road, check e-mail, obtain news, and more.
Other News
Portland Realtor turns to bike sales – Oregonian – – over racing stripes and spoilers to spokes. Kirsten Kaufman doesn’t roll like that. She’s the Bike Realtor. Kaufman, a broker for three years, shifted her marketing last year to capture Portland’s growing ranks of home-buying bikers. Portland is the
Need a mortgage? Consider an FHA loan – CNN Money – – the heyday of no-money-down lending, you were unlikely to have a buyer using a government-insured Federal Housing Administration (FHA) loan, which lets borrowers purchase a home with a down payment of as little as 3.5%. Now FHAs are the only game in town
Realtors® Weather the Commercial Real Estate Market – REALTOR Magazine – – study’s results represent Realtors® who practice commercial real estate; these Realtors® comprise more than 81,000 of NAR’s 1.2 million members. The survey shows that the median sales volume in 2008 was down nearly 10 percent since 2006, resulting
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GREAT NEWS!

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Fed Will Keep Key Rate Near Zero for ‘Extended Period’

The Federal Reserve acknowledged on Wednesday that an economic recovery was under way, but signaled that it was still much too early to start raising interest rates.

In a statement following a two-day meeting by the Fed’s policy makers, the central bank repeated that it would keep its benchmark overnight interest rate at virtually zero for “an extended period.” That almost certainly means until at least some time in 2010. Policy makers also announced that they would extend the Fed’s program to buy up almost $1.5 trillion worth of mortgage-related securities through the end of March.

TRICIA'S NEWSLETTER

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Provided to you
By
 Tricia Morris

President/Owner, x116

   Tricia Morris
Hawaii’s Premiere Mortgage
Office: 800 813-7711 x116
On Maui: 808 874-8800 x116
E-Mail: tricia@mortgagemaui.com
Website: www.mortgagemaui.com
      

 

For the week of Sep 21, 2009 — Vol. 7, Issue 38

 

 

Last Week in Review

 

 

 

“I’M ON MY WAY…JUST SET ME FREE…HOME SWEET HOME.” The lyrics from Motley Crüe’s Home Sweet Home sound a lot like something the housing industry might have sang last week, after the Commerce Department reported that the number of Housing Starts in August came in better than expected.
As you can see in the chart below, Housing Starts have fallen significantly since June 2008, but in last week’s report, they broke free to come in at their highest level since last November. Building Permits were a bit lower than expectations, but the overall report suggests that while we’re not entirely out of the woods yet, the worst in the housing market may have passed and that the industry may be on its way to stabilizing.
———————–
Chart: Housing Starts in August
Inflation was also in the news last week. On Tuesday, the Producer Price Index came in more than double expectations, prompting fears of wholesale inflation. However, since wholesale inflation isn’t always passed on to consumers, the markets anxiously awaited the Consumer Price Index (CPI). CPI is an important measurement of inflation because it actually measures the average prices paid by consumers for goods and services, which is where the real inflation concerns come in. According to last week’s report, CPI came in just slightly higher than expectations.
Remember, inflation is the archenemy of Bonds and home loan rates, and it is said that “rates are the boat that floats on the sea of inflation”, meaning when inflation rises, home loan rates will move higher as well. With the recession appearing to be bottoming out and with an unprecedented amount of government spending over the past year, there are fears that inflation – and therefore home loan rates – may be on the rise soon. If you are in the market to purchase or refinance, this is an important aspect to keep an eye on. Call me if you want to discuss presently low rates, and how they might fit into your plans.
The $8,000 tax credit for First Time Home Buyers was also in the news again last week. White House Spokesman Robert Gibbs said that the administration is evaluating the program and the effect it has had on home sales and will soon make a recommendation to the President. Although there’s been talk and speculation regarding the expansion of this program, as of now, potential buyers must complete their first-time home purchases before December 1 to qualify for the special credit.
Overall, Bonds and home loan rates saw some nice gains early last week, but finished just slightly worse than they began, as Stocks closed at highs for 2009 and pulled some money away from Bonds. Whether Bonds can climb back up this week will depend not only on the economic reports due out, but also on how well the markets receive the incoming round of 2-year, 5-year, and 7-year Note auctions.
SPEAKING OF THINGS THAT ARE DUE SOON, DID YOU REALIZE THE HOLIDAY SEASON IS JUST A COUPLE OF MONTHS AWAY? TAKE A LOOK AT THE MORTGAGE MARKET GUIDE WEEKLY VIEW ARTICLE BELOW TO FORM A PLAN NOW, AND MAKE SURE THIS HOLIDAY SEASON IS AS HAPPY FOR YOUR WALLET AS IT IS FOR YOUR FAMILY AND FRIENDS.

 

Forecast for the Week

 

 

 

This week is chock full of economic news for the market to digest. First, we’ll hear from the Fed with the Federal Open Market Committee (FOMC) policy statement and interest rate decision to be released after their upcoming meeting ends on Wednesday. Although the Fed hasn’t made any policy changes as of late, the Fed’s statements are still closely watched by the markets for any comments or concerns on matters such as inflation.
Considering last week’s news that Housing Starts for August came in better than expected and at the highest level since last November, we’ll gain more insight on the health of the housing industry when reports on Existing Home Sales and New Home Sales for August are released on Thursday and Friday respectively.
Also on tap this Friday is the Durable Goods Orders report. Durable Goods Orders are considered a leading indicator of manufacturing activity, and the market often moves on this report. However, the volatility and large revisions that are sometimes made to past reports make this a less-than-perfect indicator.
Finally, we’ll see the Consumer Sentiment Index for September this Friday. Although consumer sentiment does not correlate strongly with consumer spending, the markets will be watching to see if this month’s reading hits expectations of 70.0.
Mixed in with these reports will be another round of 2-year, 5-year, and 7-year Note auctions. Recent auctions have been fairly well received and have helped support Bond prices, so I’ll be watching closely to see if this trend can continue this week, or if Bond prices and home loan rates will worsen in response to the enormous supply hitting the market.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, Bonds were pushed lower by technical resistance at the 200-Day Moving Average, as well as the announcement of this week’s record sized Treasury auction.
Chart: Fannie Mae 4.5% Mortgage Bond (Friday Sep 18, 2009)

 

The Mortgage Market View…

 

 

 

Budgeting for the Holidays…It’s Never Too Early to Start
It’s hard to believe, but Thanksgiving is just two months away. And while that may seem like a lot of time, you’ll be diving into that turkey dinner sooner than you think…and right around the corner will come the Christmas holidays. That’s why now is the perfect time to start planning for your holiday budget. By formulating a plan now, you’ll achieve more than just the happiest of holidays. You’ll ensure that the New Year will begin without worries of too little cash flow or too much debt. Here’s how.
Learn from the Past
The best place to begin when it comes to planning for this year’s holiday spending is to examine what you did last year. Dig up the credit card receipts and checkbook registers, and add up how much money you spent. You’ll also want to take notes regarding where you spent it. Don’t forget to include money used to purchase gift wrapping supplies, cards, postage, food while shopping, entertainment costs, and special-occasion clothing.
Now that the numbers are in front of you, it’s time to form an opinion. How do you feel about last year’s spending? Did you spend a realistic and appropriate amount, or did you go overboard? Try to be objective. This analysis will serve as the backbone of your plan.
Look at the Present…Pun Intended
Financially speaking, how have you fared this year compared to last year? Be sure to look at any changes in income as well as expenses. If your finances haven’t changed and you’re happy with last year’s spending, then you’re starting off in very good shape. If your overall financial status has declined, or if you were less-than-pleased with last year’s performance, then you’ve got some work to do.
Begin by looking at the number of purchases you made a year ago. Which ones would you make again and which ones have you scratching your head? It may be time to reduce your gift-buying list or change the amount you spend on each purchase. The obvious way to accomplish this is to be less extravagant with your selections. A less obvious but often effective approach is to research your potential purchases. Sometimes you end up paying extra for the convenience of one-stop shopping, so look through the newspaper to find which stores are offering deals. Then look on the Internet to see if you can beat their prices by purchasing online. This practice will cut down on last-minute shopping which can be an expensive proposition.
Look Toward the Future
So, you’ve figured out how many purchases you need to make as well as which ones need scaling back in terms of price. Now it’s time to create a budget. Once again, there is no magic formula. Creating a budget and sticking to it requires two main things: common sense and commitment. Let’s take a closer look.
A budget should always be based on the money you have, not the money you can borrow. If you are still paying off charges from last year, then you need to avoid using credit cards to make gift purchases this year. The amount of money you decide to allocate toward holiday spending should be based solely on what you’ve saved or what you will save from now until the time you start shopping.
When drafting your budget, start by creating a list of recipients, along with columns for the gifts you intend to buy and the dollar amounts you expect to spend. As you make purchases, keep track of the results. If you overspend on one gift, it is imperative that you make it up somewhere else. Your diligence is one of the keys to staying within your budget.
It’s also important that you watch out for potential pitfalls, including impulse shopping. Getting into the spirit of the holidays is one thing, but spending frivolously based upon a last minute decision is something else. You’ve got a list, and your job is to stick to it!
One final thing that may need an adjustment is your overall philosophy. It’s easy to look at the budget you’ve created as a restriction. After all, it’s nothing more than a set of rules. The flip side is that these rules are there for your protection. Sticking to them will not only help your feel comfortable about your finances before and after the holidays, it will free you from the stress that comes from accumulated debt. When you look at it this way, a budget can be downright liberating. Give yourself the gift of a financially stress free holiday, by planning in advance.

 

The Week’s Economic Indicator Calendar

 

 

 

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
Economic Calendar for the Week of September 21 – September 25

Date
 ET
 Economic Report
 For
 Estimate
 Actual
 Prior
 Impact
Mon. September 21 10:00 Index of Leading Econ Ind (LEI) Aug 0.7%   0.6% Low
Wed. September 23 10:00 Crude Inventories 9/18 NA   -4.73M Moderate
Wed. September 23 02:15 FOMC Meeting Sept NA   0.25% HIGH
Thu. September 24 08:30 Jobless Claims (Initial) 9/12 550K   545K Moderate
Thu. September 24 10:00 Existing Home Sales Aug 5.35M   5.24M Moderate
Fri. September 25 08:30 Durable Goods Orders Aug 0.3%   5.1% Moderate
Fri. September 25 10:00 Consumer Sentiment Index (UoM) Sept 70.5   70.2 Moderate
Fri. September 25 01:00 New Home Sales Aug 440K   433K Moderate

 

This newsletter was sent to you because you have indicated an interest in receiving communications from Premiere Mortgage, which we believe will help you in your business. If you wish to no longer receive these newsletters, please send your request to: .tricia@mortgagemaui.com
The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is not without errors.
As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.
In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: tricia@mortgagemaui.com
If you prefer to send your removal request by mail the address is:
Tricia Morris
535 Lipoa Pkwy, Suite 101
Kihei, HI 96753
Mortgage Success Source, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated.   Mortgage Success Source, LLC does not grant to you a license to any content, features or materials in this email.   You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.
          

 

 

FIDELITY NATIONAL TITLE'S WEEKLY NEWSLETTER

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Newsdesk | Volume 3 | Issue 249 | September 18, 2009 
Top News
Fed chief: ‘The recession is very likely over’ – USA Today – – WASHINGTON – Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain especially for the nearly 15 million unemployed Americans will persist.
FDIC Launches Foreclosure Prevention Initiative – FDIC – – kit of information that will help borrowers, community stakeholders and the banking industry avoid unnecessary foreclosures and stop foreclosure ‘rescue’ scams that promise false hope to consumers at risk of losing their homes. The tool kit includes
Deadline nears for home tax credit – USA Today – – first-time home buyers is already linked with an uptick in sales. For the first time in five years, existing home sales have increased for four months in a row, according to an August report by the National Association of Realtors (NAR). Sales rose 7.2%
Market News
Mortgage Demand Down as Summer Ends – REALTOR Magazine – – Summer Ends Mortgage applications slowed as summer ended and potential first-time buyers wondered whether they would be able to settle in time to receive the federal home ownership tax credit, which expires Dec
Gearing up for short sales and REOs – Inman – – regularity of short sales and foreclosure-related transactions, the National Association of Realtors has launched a Short Sales and Foreclosure Resource Certification program. ‘Someone that comes out of the program will have enough education to be a
US housing construction up 1.5 percent in August – CNBC – – is set to expire at the end of November. The National Association of Home Builders said Wednesday its housing market index rose in September, reflecting growing optimism in the industry about rising home sales. The trade association said its index rose
California seen lagging behind U.S. recovery – CNN – – SAN FRANCISCO (Reuters) — California will lag the United States as the country recovers from a deep recession, with normal growth in the most populous U.S. state not seen resuming until 2011, the UCLA Anderson Forecast group said Wednesday.
Technology News
Voice Chat Coming To Facebook – CNN – ‘Look out, users: Here comes voice chat.
Other News
KB Home restarting its Mid-Atlantic operations – CNBC – – LOS ANGELES – KB Home said Wednesday that it is restarting its Mid-Atlantic homebuilding operations after pulling back on those efforts while it tried to conserve cash, cut costs and lower inventory.
Real Estate Roundtable Welcomes IRS Action Allowing CMBS Loan Modifications – Reuters – – WASHINGTON, Sept. 15 /PRNewswire-USNewswire/ — The Real Estate Roundtable today welcomed a new Internal Revenue Service (IRS) tax rule (Revenue Procedure 2009-45) that will allow commercial real estate borrowers to proactively discuss possible
For more information about Newsdesk please visit www.productcenter.fntg.com or email Newsdesk@fnf.com

WEBSITE UPDATES

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WebSite updates for MauiRealEstate.NET

Our webmaster has made some significant upgrades to our site.  We know you will be pleased!
 

TAX RECORDS:
When you go to advanced search to a specific property you will note two tabs “Source 1” and “Source 2” .  click on Source one and then click on the name of the owner.  You will note on the left a ton of information available to you.  “Source 2” also has tax information.
OTHER UPDATES
 

For advanced search:. 
 

Now you can:
1.  Search for newly  listed properties  only
2.   Search listing by sorting by Listing Date
3.   Search results now show if listing is new  (10 days old or less)
4.   Search results now show which listings are in escrow/pending, bank owned and potential short sales