Everyone's out of Washington and it's been a relatively quiet week.  The Treasury auctions went relatively well.  Yesterday's auction of 5 year notes dropped the rates to a record and did it with good coverage of 3-1.  Today's 30 year note auction went well, though nothing exciting.  The glamour of Europe was short lived and the US markets are the beneficiaries.  The 30 year mortgage average has dropped slightly to 4.26% from 4.28% last week. 

FreddieMac.com is reporting their average is at 4.01% with .7 points, right in line with the 4.26 yield.  So things are making sense this week.  Across the board, we're seeing more defensive positioning around the globe.  Canada and much of Europe are seeing much more of a flight to safety as investors are being

The end of last week, bond market yields dropped to record lows and the mortgage market failed to go with it.  Nervousness over the European crisis lead the rush to security.  While the bellwether 10 year Treasury dropped a quarter percent, mortgage bonds which usually track the 10 year moved an underwhelming 1 one hundredth of a percent.  The press jumped on the 10 year bandwagon touting "record low rates!"  With some reports of mortgages a 3%.  One article actually went so far as to state that the Obama administration was going to require 3% rates for all loans.  Unfortunately for consumers, with the few remaining mortgage investors are running at or above capacity and they are unwilling to drop rates and overwhelmthe system as happened a year ago.  The

Strategy and Planning Are Key to Success

Small businesses are considered the backbone of the American economy and with national leaders saying the economic revival begins with small firms, a well-executed business strategy has never been more important, says Richard B. Sanford, an entrepreneur and business coach who has launched 11 successful smaller companies himself.

In past recessions, independent smaller businesses helped fuel economic recoveries. But tightened credit, government regulatory impediments and a lack of Federal support for community banks – the principal source of capital and financial support for small business – has many modern day entrepreneurs fearful of what the future may hold. Proper planning and a well-executed business

Wow!! What a week!  You name it, we got it.
 
Ben Bernanke, Chairman of the Fed states that the Fed will replace $400 billion of short term-debt with longer term debt to control interest rate costs and help counter the rising risks of recession.  He also said that the Fed would use mortgage backed securities instead of Treasuries in an effort to support the housing industry.  The markets interpreted this and other parts of his speech as a clear sign that we are facing another and protracted recession.  30 year Treasuries dropped below 3% for the first time and the bellwether 10 year dropped a quarter percent to 1.73%; its lowest ever.  In contrast, mortgage rates didn't move - well that's not quite accurate, the 15 year rate dropped one hundredth of a

When demand for housing is low, or the inventory of available homes is high, buyers are able to make more demands, and the difference between your listing price and your actual selling price can be significant. To speed up the selling process, making sure you list your home at an appropriate price is crucial.

There is more than one way to determine how much your home is worth.  A comparative market analysis and an appraisal are two of the most reliable methods, and often it is worth doing both to get a good feel on where your pricing should lie.  A comparative market analysis is an informal value estimate based on the selling prices of similar properties in your area, usually sold within the past year, as well as the asking price on sales in your

Area Real Estate Agents Qualify for Award Based on Consumer Research
 
Five Star Professional has named the Denver/Boulder area recipients of the 2011 Five Star Real Estate Agent award. The award winners appear in a special section in the September issue of 5280 Magazine. RE/MAX of Boulder is proud to announce 29 Five Star Realtors from their WaterStreet office at 2425 Canyon Boulevard.

Five Star Professional partnered with 5280 Magazine to conduct research to identify a select group of real estate agents who are exceptional in both their ability and their commitment to overall satisfaction. Fewer than seven percent of the 16,000 Denver area residents holding real estate licenses were selected.

A survey was provided to all Denver area residents who

Quite a mixed bag of economic information this week.  The only trend continues to be - who knows? Unemployment claims are up, gold is up, outstanding credit card debt increased for the first time in 3 months, and mortgage delinquencies all increased significantly for the first time in 4 months.  All bad signs.  However, foreclosure filings are up and you ask, how is that good?  Realtytek reports that we are finally starting to work through all the foreclosure filings that have been delayed by all the lawsuits over the MERS and their "right" to foreclose.  Most all the state attorney generals have settled or lost their suits but they made their political hay and are content to allow the foreclosures to proceed.  The stock market is gaining ground and the 5

To help develop policies that will stabilize the nation's housing market and support an economic recovery, the National Association of REALTORS® recently urged the White House to host a summit of policy makers, industry leaders and government stake holders focused on revitalizing the nation's housing.

"As the leading advocate for housing issues, REALTORS® know that homeownership supports our nation's economy," says NAR President Ron Phipps. "Housing and homeownership issues affect all Americans, which is why we need strong policies that will help stabilize the housing market and lead the way out of today's economic struggles."

A housing recovery is key to America's economic strength, and NAR wants to make sure that proposed legislation and regulatory

If you are interested in remodeling or upgrading essential features on your home, be sure to check if your project is eligible for government funding before you jump in. There are several different home improvement programs funded by the federal government. If you are making a basic livability repair or improvement to your home—say a necessary addition or a new roof—you may be able to apply for a Title 1 Home Improvement Loan. Private lenders often fund these loans, and HUD insures these loans for up to $25,000 for a single-family home.

However, if you need help refinancing major repairs or rehabilitations to your home, look into a Section 203(K) program. This is HUD’s primary rehabilitation program, and is especially useful for those purchasing ’as is’

All-in-all a very quiet week in the bond market.  Rates are holding a near record low levels and refinance volume is picking up as consumers decide that even though they are sick of refinancing, the new low rates are too good to pass up.  We're seeing more applications that are reduced terms, a sign that the consumer is looking at long term debt removal.  Consumers are looking to keep their remaining term the same or keeping their payments the same to shorten their loan term further.  America is acting on the message that Washington isn't hearing: Debt is BAD.  Social Security and retirement plans are dicey futures, so make sure you own your home.
 
Quick Hitters

• Mortgage Rates are at record lows again with the 10 year bond (which competes with the