Cari Anderson's East Bay Mortgage Update for July 23rd 2010
Economic News: Yesterday brought us the Jobless Claims figures. Initial Jobless Claims rose 37,000 to 464,000 for the July 17th week. The four week moving average did improve a bit from the last report which is good news. The National Association of Realtors ® reported Existing Home Sales fell 5.1% for the month of June but this was better than the consensus estimates. Supply also rose to 8.9 months from the prior reading of 8.3 months.
Mortgage Markets: The yield on the 10 Year Note is currently trading at 2.948%. In addition, the Mortgage Backed Securities are stable heading into the weekend. Pricing is worse by about .25% in fee from yesterday's opening levels. If you are in the process of purchasing or refinancing rates remain at terrific levels.
Next Week's Reports: Monday: New Home Sales. Tuesday: S&P Case-Shiller Home Price Index & Consumer Confidence. Wednesday: Durable Goods Orders. Thursday: Jobless Claims. Friday: Gross Domestic Product (GDP), Employment Cost Index & Consumer Sentiment.
Stay tuned for the Next East Bay Mortgage Update...Have a Great Weekend!
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There are sure a lot of economic reports coming out next week.
I'm not sure - but, it seems like a rather low rate. What's the prediction?