Mortgage Info
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| For the week of Jul 12, 2010 --- Vol. 8, Issue 28 |
| In This Issue |
Last Week in Review: News from "over there" helps Stocks over here. Forecast for the Week: Manufacturing and inflation news heat up the headlines... and could rock rates. View: What do you need to know about your gas and electric bills? Special Video View! |
| Last Week in Review |
"Over there... over there..." The old patriotic song hit it on the head, in terms of what has been driving market action lately... news from overseas. In the absence of US economic reports last week, Stocks received some help from headlines "over there." Late last week, the European Central Bank (ECB) left interest rates at a record low - which wasn't really a surprise, given the sharp economic slowdown and uncertainty in Europe. But in a separate briefing, ECB Executive Board member Juergen Stark stated that "the worst of the sovereign debt crisis seems to be over." He went on to say that tensions within the financial markets have "calmed down" as the enormous $442 Billion collection of one-year loans by the ECB went without any problems. Although the Stock market may benefit from such calming commentary, the reality is the worst may not be over yet. In fact, rumors are surfacing that Italy may be the next country to reveal debt problems - making this a story to continue watching. ----------------------- There was also a lot of talk overseas last week about bank stress tests - and the positive buzz helped Stocks around the globe move higher. Similar to what took place in the US a couple of years ago, these stress tests may provide some transparency and help differentiate which financial institutions are strong - so they're not lumped in with some of the more troubled ones. Although the official reports will not be released until July 23rd, French Finance Minister Christine Lagarde indicated last week that the final results will show that European banks are "solid and healthy." When stress tests were conducted on the US banks, the positive results helped boost financial Stocks nearly 40% over the following several months. It is possible that favorable results from the European stress tests could bolster confidence in the Eurozone, which would unwind some of the trading activity that has taken place during the past two months - that being the flood of money out of Europe into the US and purchasing our debt securities and Bond instruments, including Mortgage Bonds. If this starts to reverse, home loan rates will worsen... and this can happen very quickly. I'll be watching this closely - but if you have been waiting to get in touch regarding taking advantage of still-historic low home loan rates... don't wait! ECONOMIC NEWS FROM EUROPE ISN'T THE ONLY HOT STORY THAT DESERVES YOUR ATTENTION. THE TEMPATURE HAS SOARED LATELY ACROSS THE US, SCORCHING THE NATION AND PROMPTING MANY PEOPLE TO REVIEW THEIR ENERGY USE - AND ITS IMPACT ON THEIR BUDGET. CHECK OUT THE SPECIAL MORTGAGE MARKET GUIDE VIDEO VIEW BELOW TO LEARN HOW YOU CAN PERFORM A HOME ENERGY AUDIT. |
| Forecast for the Week |
| The Mortgage Market Guide View... |
Home Energy Audit
Economic Calendar for the Week of July 12 - July 16
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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: mark.zdenovec@wellsfargo.com If you prefer to send your removal request by mail the address is: Mark Zdenovec 115 E Ogden Ave. Ste 121 Naperville, Il 60563 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. |




