Successfully reported this slideshow.

Market monitor template 021513


Published on

  • Be the first to comment

  • Be the first to like this

Market monitor template 021513

  1. 1. I s su e 14 , Vo lu me 7 / Fe br u ar y 15 , 201 3Positive Housing Tidbits…and the Market The Week Ahead -> The “Keys”Tim McLaughlin - A Boatload of Inflation and Housing Data this Week On Monday, we received yet another positive housingprice measure for 2013, learning from the National Date Economic Release Prediction LastAssociation of Realtors that the national median existingsingle family home price was $178,900 in 4Q, up 10.0% 2/19 NAHB Housing Market Index 48 47from $162,600 in 4Q2011, the strongest year over year priceincrease since the 4Q 2005.The median existing single 2/19 Mortgage Delinquencies - 7.40%family home price rose in 133 out of 152 metropolitanstatistical areas. 2/19 MBA Mortgage Foreclosures - 4.07% Lawrence Yun, NAR chief economist who in the past has 2/20 MBA Mortgage Applications - -6.4%commented about lending standards being too restrictive,said all the conditions for strong price growth are at play. 2/20 Housing Starts 924K 954K"Home sales are on a sustained uptrend, mortgage interest 2/20 Housing Starts (MoM) -3.2% 12.1%rates are hovering near record lows and unsold inventory isat the lowest level in 12 years," he said. "Home sales are 2/20 Building Permits 920K 909Kbeing fueled by a pent-up demand and job creation, alongwith still favorable affordability conditions and rents rising at 2/20 Building Permits (MoM) 1.2% 1.0%faster rates. Our population has been growing faster thanoverall housing stock, so supply and demand dynamics are 2/20 PPI (MoM) 0.4% -0.2%very much at play." 2/20 ex Food/Energy 0.2% 0.1% Yun added that more housing construction is needed to 2/20 PPI (YoY) 1.5% 1.3%relieve some of the pressure in the market and keep homeprices from overheating. 2/20 ex Food/Energy 1.7% 2.0%=================== 2/20 FOMC Jan 30 Mtg Minutes - - Update on the Market: 2/21 CPI (MoM) 0.1% 0.0% We continue to see the 10 year Treasury yield at the 2/21 ex Food/Energy 0.2% 0.1% highest levels since early 2012 as the yield topped 2.00% again this morning. 2/21 CPI (YoY) 1.7% 1.7% Combined with that is continued MBS to Treasury 2/21 ex Food/Energy 1.8% 1.9% widening (essentially, Mortgage Backed yields are trading even wider to Treasuries, exacerbating the 2/21 Initial Jobless Claims 360K 341K rate issue). 2/21 Continuing Claims 3161K 3114K We are seeing cash flow into Equities and the Dollar (the Dollar/Yen trade is a money maker right now), 2/21 BB Consumer Comfort - -35.9 with the negative recipient of the trade being all classes of Fixed Income (particularly Mortgage 2/21 Philly Fed Survey 1.0 -5.8 Backed Securities). 2/21 Existing Home Sales 4.90M 4.94M With that said, we are still seeing 30 year Mortgages with a 3 handle, and 15 years still beginning with a 2/21 Existing Home Sales (MoM) -0.8% -1.0% 2 in most cases, as the spring market beings to get its legs. © Copyright 2012 Weichert Co. Morris Plains, NJ, USA. All rights reserved. Any form of reproduction or distribution is strictly prohibited. Company NMLS # 2731. Mortgage Access Corp. d/b/a Weichert Financial Services, Executive Offices, 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH. Licensed by the NJ Dept of Banking and Insurance. Licensed Mortgage Banker with the State Dept of Banking in NY and CT. Licensed by the Pennsylvania Department of Banking, Mortgage Lender 21042. Licensed Lender in AK, AR, DE, MD, D.C., GA, ME, MN, WI, IA, IN, LA, VT, WV, NC, ID, NE, WY, OK, TN, MI. Licensed by the Virginia State Corporation Commission, License #MC297. Certificate of Authority to transact business in CO. To check the license status of your mortgage loan originator, visit Licensed Lender in SC. Licensed Mortgage Lender in TX. Licensed with the Financial Institutions Division in New Mexico, License # 01297. Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Licensed Mortgage Broker and Lender Ohio. Licensed Loan Broker and Lender Rhode Island. Licensed Oregon Mortgage Lender License #ML2528. Illinois Residential Mortgage Licensee, License #MB.0006377. Mississippi Licensed Mortgage Company, License #357/2008. Washington Consumer Loan License # CL-2731. Alabama Consumer Credit License #21213. Mortgage Access Corp. arranges loans with third-party providers. Equal Housing Lender.