• Home
  • About
    • Our Advantage
    • Meet the Brokers
    • FAQ Using a Broker
  • Pre-Approval
    • Pre-Qualification Form
    • Loan Application
    • Documents Required for a Home Loan Mortgage
    • Credit >
      • Imperfect or Bad Credit Loans
      • Fico Score
      • Good Fico Score
      • How Fico Scores Work
      • Fico Scores Ignore
      • How Fico Scores Help
      • Fico Tips
  • Loan Types
    • What is an Arm?
    • Conventional Loan
    • FHA Loan
    • VA Loan >
      • VA Loan Eligibility
      • VA Refinance IRRL
    • HARP
    • Jumbo Loan
    • Hard Money Loans
    • Reverse Mortgage >
      • What Is A Reverse Mortgage
      • Benefits Of A Reverse Mortgage
      • Reverse Mortgage VS HELOC
      • Loan Process
      • Reverse Mortgage Presentations
      • Reverse Mortgage Quote
  • Buyers/Sellers/Homeowners
    • Refinance >
      • What Not To Do When Refinancing
    • First Steps in Homebuying >
      • Down Payment Strategies
      • Rent vs. Buy
      • 6 Benefits to Owning Your Own Home
    • After You Sign the Contract
    • The Loan Process
    • Mortgage Payment
    • FSBO
    • Preparing for an Open House
  • Blog
  • Support
    • Property Search
    • Property Tax Information
    • Mortgage Glossary
    • Mortgage FAQs
    • Useful Links
  • Contact
  • Reviews
Effective Mortgage Company
Follow Us

Effective Mortgage Company

Blogs on Mortgages, Markets And Other Items Of Interest. Stay Up To Date!

Blog

MARKET REPORT !!!!!!

1/21/2016

0 Comments

 
 US and Europe stock indexes better this morning, US interest rates opened lower. Nothing significant about the stock markets being better, just starting the day taking a breath. Stocks will continue lower in this very bearish run; still expecting the DJIA to drop 20% at least frm the recent highs last year.
 
Two reports at 8:30 this morning. Weekly jobless claims expected to have declined 9K were up 10K to 293K, the highest claims in the last six months. The 4 week average increased to 285K frm 278.50K. January Philadelphia Fed business index, expected -4.0 frm -5.9 originally reported for Dec at -5.9; as reported the index was at -3.5 but Dec was revised to -10.2. The new orders index is improving, at minus 1.4 for the best reading since September. And shipments, for the first time also since September, are positive, at a strong 9.6. The six-month outlook, down 5 points to 19.1 for the softest level since 2012, the decline in inventory build is defensive and intentional.
 
ECB’s Mario Draghi this morning commenting that inflation is way down the line; he said there is no end to what the ECB will do to improve the outlook.  Blowing in the wind; as we have noted recently central banks regardless of what they will or could do are becoming more impotent every day in the context of driving economic growth. Draghi said the bank needs to review its policy stance at its next meeting. The ECB left its key interest rates unchanged, but Draghi hinted the bank will review its stimulus at the March ECB meeting. The inflation rate in Europe was expected to pick up from the 0.2% recorded in December and average 1% this year, rising further in 2017. But Mr. Draghi said it is now possible that prices will start to fall again over coming months.
 
At 9:30 the DJIA opened +18, NASDAQ -2, S&P +1 after trading higher in the pre-market futures this morning. The 10 yr  note yield at 9:30 -1 bp at 1.97%. FNMA 30 yr 3.5 coupon +11bps frm yesterday’s close and +9 bps frm 9:30 yesterday.
 
Corporate earnings and forward guidance generally have been missing their targets; US economic outlook weakening from what we look at and expect. The advance Q4 GDP will be reported a week frm tomorrow, estimates are being revised lower but economists are likely to overestimate growth again.
 
Crude oil Feb contract expired yesterday, now March is month markets will track; the oil price below looks like oil increased, the price over $28.00 but actually prices have slipped a little.
 
As the clock ticks so far this morning the equity market is losing the early morning highs; the stocks have only lost about half of their valuations frm what we anticipate. Traders will sell into every attempt to rally, although the technicals are now in oversold levels. In this kind of sentiment swing though technicals take somewhat of a back seat.

This Blog is for informational/advertisement purposes only and is not considered an offer to extend credit. Products are subject to change without notice. The information contained herein may not be applicable to every situation or jurisdiction, and we urge you to consult your professional advisor prior to acting on information contained herein. The content, accuracy and opinions expressed herein are not verified or endorsed by the sponsor hereof.
0 Comments



Leave a Reply.

    Categories

    All
    DIY
    FHA
    Holiday Tips
    Market Update
    Money Tips
    Monthly Newsletter
    Mortgage Knowledge
    Mortgage News
    Mortgage Programs
    Reverse Mortgage
    Seller Information
    VA

    Archives

    September 2021
    May 2021
    April 2021
    May 2020
    April 2020
    March 2020
    August 2018
    March 2018
    January 2017
    December 2016
    November 2016
    October 2016
    August 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    February 2015

    View my profile on LinkedIn

Our Services

Purchase Loans
Refinance Loans
Pre-approvals

Company

About Us
Contact Us
Our Blog

Support Page

FAQs
Mortgage Glossary
Mortgage Calculator
Property Tax Information
Credit Information
Useful Links
Property Search

Contact Us

Picture

Effective Mortgage Company BRE# 01264208 NMLS # 252973