On Thursday, we will have the weekly Initial Jobless Claims Report. Instead of growing jobs, we are still losing jobs though thankfully not at the rate we were before. But with the stimulus money not having a great affect on the job’s market and with state governments having budget shortfalls, we may see more layoffs soon instead of job gains.

Then on Friday, we have Retail Sales, Consumer Price Index and Core Consumer Price Index. Retails Sales is important as if we continue to save instead of consume/spend, the economy won’t recover. As consumers, we contributes to two-thirds of our economy. The two Consumer Price Index Reports shows us inflation at the consumer level.

You can read about all of this in more detail in this week’s MMG Weekly as well as an article on “How to Succeed On Webcam Interviews.”

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

This is coming in from 3 good sources now- the vote on HR 4899 yesterday DID authorize funds for USDA. The bill is just waiting for Obama’s signature so we now know the USDA is getting their funding!

If you’ve been waiting for this, contact your lender to make sure you have all the necessary documents to close your loan as soon as funds are released.

Though we will start the week out on Monday with New Home Sales which is expected is be up a bit which shouldn’t affect mortgage interest rates since the report only tracks about 15% of the new home sales. But if it is up more, it could affect interest rates.

Tuesday will start the bigger news in Consumer Confidence Index. This report tells us whether consumers, us, are confident about their own financial situation which translates to will we spend money on big ticket items. This report is important to the economy as consumer spending which has been tight over the last two years makes up two-thirds of our economy. In other words, if we don’t spend, the economy isn’t going to grow and we won’t pull out of the recession fully. Quite a catch-22.

Wednesday, we have Durable Goods  which gives us an indication of manufacturing strength.  The traders expect an upward tick in this report from May to June.

Thursday, we have the all important Initial Jobless Claims. Jobless Claims keep going up instead of down. And with the new extension on unemployment benefits, the outlook still isn’t looking as rosy as we would all like it to be.

And then Friday, we have Gross Domestic Products (GDP) and Consumer Sentiment Index. GDP will reflect 2nd Quarter and is the sum of what we have produced for both service and products. It indicates our economic activity and whether we had good growth during that time. This report can move the market one way or the other. Consumer Sentiment Index will reveal our optimism on our own financial situation.

Besides these reports, the US  Treasury Department will be auctioning off $104 Billion in 2-year notes, 5-year notes and 7-years notes Tuesday, Wednesday and Thursday, respectively. Depending on how well these auctions do, it can affect mortgage interest rates.

You can read about all of this in this week’s MMG Weekly as well as an article from Kiplinger on “10 Things We Overpay For:You Can Save Big by Buying Cheap Alternatives Instead“.

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

The economic reports that will be released this week will be on Tuesday, the Housing Starts and Building Permits. This will give us an update on what is being built and going to be built. On Thursday, we will get the Initial Jobless Claims. We will welcome any positive changes in this report.

Last week, Congress passed the sweeping Financial Reform Bill. There has been much talk in our industry about this bill and the changes it will bring. The bill itself is over 2,000 pages but unfortunately doesn’t address the major causes of the financial meltdown. As financial corporations try to digest this over the next weeks and months, they will continue to hold on to their cash reserves. And as long as they hold on to the their cash and don’t invest it (lend it out), we will continue to have a very bumpy recovery.

You can read about all of this in this week’s MMG Weekly as well as an article from Kiplinger on “Tweets Can Help Your Business”.

As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am. 

I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

     So what is in store for us? First off will be the one of two Treasury Auctions on Tuesday when the 10 year Notes will be sold. Retails Sales and the FOMC meeting minutes will follow on Wednesday along with the second Treasury auction-30 year Bond. 

     Retail Sales are important as that indicates what the consumer is spending. Consumer spending makes up two thirds of our economy so that data is watched very closely. Experts feel that sales will be about 0.2% lower than last month’s. Any large decline can trigger a bond rally, lowering mortgage interest rates indicating that the economy is not as strong as hoped fur.

      FOMC meeting minutes which are released later on Wednesday will be closely scrutinized for any wording that would indicate what the Fed may do in the near future as to raising the short term interest rates and how they feel the economy is coming along.  

     Thursday, we have the all important June Producer Price Index and the Core Producer Price Index along with June’s Industrial Production data. All three of these are important as they are an indication to inflationary pressures at the producer level. No change is good for bonds and a decline is even better for bonds.

     And on Friday, the Consumer Price Index (CPI) and Consumer Sentiment are released. The CPI and Core CPI measures the inflation at the consumer level while the Consumer Sentiment indicates how the consumers, us, feel about our own financial situation. If we are comfortable and confident, we are more apt to purchase bigger ticket items.

      So with a full house of economic reports being released we could see some jitters in mortgage interest rates. This will result in rates moving up and down though I don’t feel that we will have big leaps upward.

       You can read more about this and watch a video from the Kiplinger’s report about “Home Energy Audit” in this week’s MMG Weekly Report.

       As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

     To read more about news that will affect Mortgage Interest Rates, check out MMG Weekly.

     This past weekend I ran in the Rock and Roll Half Marathon. It was my second time to do this race. Both times, I have finished.

     Last year, I ran, walked and almost crawled to the finish line as I didn’t realize that I had a stress fracture on the interior sesamoid bone behind and under my right toe. 13.1 miles is a long way to go when every step you take makes it almost impossible to put your foot flat to the ground to push off for the next step. I ended up running and walking on the outside of my right foot to compensate for the “hurt” factor. The fact that I somehow managed to finish the race was an amazing feat to everyone.

     As I trained for this year’s race, I started to have problems but in different areas. Apparently in my recovery of my stress fracture, I found a new way to walk and run that put added pressure on my left leg. And as I added more miles to my training, the pain started to intensify.

     This time, I took myself to physical therapy three weeks before this race where they noticed my “new” walk. They gave me exercises to do which I did religiously as well as told me that I had “weak” thighs. That means that my hips aren’t strong enough which then translates to “ow-ies” in the upper thigh muscles. But I did all their exercises and found that the “hurt” was going away.

     This past Saturday, I woke up feeling ready to run the 13.1 miles. I had already run 12 miles and felt good about that. I had run the hills around Seattle from 6 to 8 miles. I had done my runs during the week between the long runs on Saturdays. I was prepared. And I was going to run this as what was an extra 1.1 miles. After all like I said, we have done 12 miles with hills. And all I needed to do was an extra 13 to 14 minutes. I could tough that out whatever pain I felt by 12 miles.

     My run started out well. The first 5 miles I felt great. The pace was good. My right foot where I had the stress fracture from last year didn’t even bother me. My thighs felt good. No pain. My knees felt good. I was excited.

     Between mile 5 and 6, I started to slow down. I told myself, I just needed a slower pace to recover a bit before pushing on for the last half. As I neared mile 6, I walked for about a minute.

     I ran miles 6 to 8 slower but ran them. But by mile 8, the GU gel that I had taken and also trained with was doing nasties to my intestines. I made a detour to the ladies room between mile 8 and 9. The stop didn’t help as as we all know, there is always a line at the ladies room.

     By the time, I got to mile 9, I almost got my stride back. I entered the tunnel. By then, the pain that I had been ignoring in my right knee decided that it would intensify. I walked thinking that it was just a “silly” pain.

     Mile 10 loomed ahead and I kept trying to run but the pain kept getting worse. I walked as fast as I could. I figured that I was probably walking as fast as I could run though I kept trying to run.

     Unfortunately no amount of “You’re Betsy Moore, hear me roar, you will run this mile” could make me run and ignore the pain that had then started on the outside of my right knee, curled around under my knee cap before shooting down to the inside of my shin.

     I made it down Columbia Avenue wishing I could cut across and enter the finish line that way. But my sense of honesty wouldn’t allow me to do that. Up on the Viaduct, I made a final push to run but I couldn’t do it. I decided to save whatever mental power I had left to run into the chute.

     I finished this race in 3 hours 25 minutes and 24 seconds, about 10 minutes better than last year.

     Both years, I accomplished finishing when I could have very easily given up because of the amount of pain I was feeling. Running injured and with pain takes a lot of mental fortitude. The mind and the body are amazing when we want to do something.

     But the question begs to be asked. Why do I feel like I didn’t accomplish anything?

     My perfection measuring stick says I didn’t because I didn’t “run” the whole race which was my goal. So therefore, I didn’t accomplish my goal.

     But I just finished completing 13.1 miles by running and walking. I should be celebrating that. Instead I’m saying to myself that wasn’t good enough.

     I have now done both races, an amazing feat. 13.1 miles is something most people won’t even contemplate whether it is running and/or walking or both.  And I have done it both times, injured or in a lot of pain.

     It is now time to celebrate and let others celebrate with me and at the same time, realize what I have done-two half marathons accomplished.

     I have plans on doing the Bellingham Half at the end of September this year with Betsy Gray Talbot, my running buddy and best friend, plus I have already signed up for next year’s Rock and Roll Half Marathon.  

     My goal will be to finish the Bellingham Half regardless whether I run, walk, crawl or do a combination of all three. The Rock and Roll Half Marathon is still too far away to set a definite goal though the immediate goal will be to finish.

     And that measuring stick, it should be a measuring stick of accomplishments as no one is perfect. But how do I completely switch from measuring everything I do against that stick of perfection?

     Though economic reports will be light this week, we do have on Tuesday and Wednesday, Existing Home Sales and New Home Sales respectively. Low numbers will mean that the housing inventory is shrinking which will be good all over for housing industry. On Friday, we will have Consumer Sentiment Index which tells us what us, the consumers, feel about the economy. And as always, we have the weekly Initial Jobless Claims Report which will also be watched closely since last week’s claims were higher than expected.

     And let’s not forget the weekly round of Treasury auction. The Fed will be auctioning off $108 Billion of 2, 5, and 7 year Treasury Notes. Those start on Tuesday and could move mortgage interest rates if they are not well recieved.

      You can read more about this and why former Fed Chairman Greenspan has to say about yields and higher interest rates in this week’s MMG Week in Review. And don’t forget to listen to the Kiplinger’s report about “Kids and Credit Cards”.

       As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

     Besides this debate, the first part of the week will be fairly quiet. Wednesday and Thursday will be the newsy days. Wednesday gives us Producer Price Index, Housing Starts and Building Permits while Thursday will be Consumer Price Index and Initial Jobless Claim Report.

     Most troubling is the Initial Jobless Claim Report as those claims are remaining high. Last week, the Initial Jobless Claim Report reported that an additional 5.13 million people claimed Emergency Unemployment Compensation-benefits that last longer than the normal 20 weeks. These last up to 99 weeks in total.

     Last week, we saw global investors finding safe haven in US Bonds. But as the Euro stabilizes, investors and traders can start reversing their trades which will cause mortgage interest rates to rise again. Balancing this May’s Job Report and Retail Sales Report showed a decline which only indicates how fragile our own economy still is.

     In all, we are still walking a tight rope as we climb out of this slow recovery. A false step, mounting debt, stubborn high umemployment  and tightening credit can all have an effect as to which way this economy will go.

     You can read about all of this and more in this week’s MMG Weekly Review as well as a great article on “Six Travel Scams to Avoid.”

      As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749

      US Job Rate came in at a surprise. Traders expected around 500,000 but got 431,000 with the majority of them being Census Jobs (411,000) which are temporary and will end soon. About the only good news out of this Jobs Report was that average hours worked improved. The Greece and the oil situation haven’t improved and only with the start of this month.  All of this led to a stock market that dip as money flowed out of the stock market into the bond market.

      This coming week, the economic reports that can move the market will be mostly on Friday. Though this Thursday, we will see the Initial Jobless Claims.  Friday, we’ll see the Consumer Sentiment Index and Retail Sales. Both of these will show if the consumer is continuing to spend money during this rather bumpy recovery.

      In addition to these reports, the US Treasury will be auctioning off $70 Billion in Notes and Bonds Tuesday through Thursday.

      Even though mortgage interest rates have been better than normal, we don’t expect this to last long. Investors will be quick to pull the trigger to raise rates with the slightest hic-cup in the market.

       You can read about these reports and more in this week’s MMG Week in Review as well as a great article on “Six Money Mistakes of Newlyweds.”

     As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749