January 2013

Found 13 blog entries for January 2013.

An exciting Friday morning in the markets and as usual, exciting isn't good for interest rates.  10 year treasury's moved up slightly yesterday after the initial jobless claims numbers came in at the very low end of a very broad consensus range.  Claims for last week were at 330,000 well below the consensus of 360,000.  For the second week in a row we've seen much lower than projected numbers and that doesn't bode well for the continuation of the low interest rates.   

Today's new home sales report wasn't so much a surprise for the current numbers which were actually lower than predicted but for the larger upward re-visions in the past two month's numbers.  Both October and November's numbers were already good but the big upward revision is taking them

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For those outside of the RE/MAX of Boulder family, and for the people with our office that live under a rock, RE/MAX of Boulder recently launched an effort to support and strengthen the community we serve. The program includes a monthly “Featured Friend” campaign that highlights one of our local non-profit or local business partners. Our “Featured Friend” for January is Posh Paint and Wine Studio located at 1468 Pearl St. #120. POSH offers their customers an opportunity to express their creativity and take in expert instruction all while enjoying a nice glass of wine or a cold beer. A group of us in the office, Katie Blackwell and her boyfriend, Jay Kalinski and his wife, Lisa Wade, Andria Farinacci, Jill Byrant, Taylor Schmidt, myself and my roomies, and

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Mortgage rates are staying in a tight range which is excellent for homebuyers, Realtors and mortgage originators.  While dropping rates are exciting, stability can lead to more sane transactions.  The 10 year Treasury is doing some rapid transitions, bouncing from the upper support level, back down to the lower support level then back up again.  All the movements right now are quick and sharp but as long as the support levels hold, there shouldn't be any change in mortgage rates.  With the markets closed Monday for MLK and no major reports until Thursday, expect no real change unless some politician opens his/her mouth.

Since Wednesday we've seen a few new reports and the results are decidedly mixed.  Housing Starts came out yesterday showing a very

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Mortgage rates are remaining constant although there has been a drop in the 10 year treasury.  The 10 year yield is down (improving interest rates) from 1.86% at the close Friday to 1.81 today.  The best explanations for the moment are that investors are re-balancing their portfolios, re-purchasing bonds and last week was too much of an overreaction.  The economic news out this week is right on target and Chairman Bernanke's talk on Monday was mostly reassuring. With few other big reports this week, rates should stay in a small range.

The reports out showed: Producer Price Index came in at -0.2% and the consensus was -0.1%.  So inflation is less than thought - good for rates. Consumer Price Index came in at +0.1%, right on the consensus number.  It

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Boulder’s and Broomfield’s commercial real-estate market has had a pretty good year, and looks set to enter 2013 with some momentum, Lynda Gibbons predicted in November while giving an overview of the local real-estate picture at the Boulder Valley Real Estate Conference.

Gibbons is president and managing broker of commercial real estate brokerage firm Gibbons-White Inc.

At the time of the conference, vacancy rates were down and rents were climbing for office space in Boulder and Broomfield, with rents reaching $30 per square foot in downtown Boulder. The downtown vacancy rate was about 6 percent, Gibbons said.

In the city of Boulder, office rents were $21.50 per square foot with an 8 percent vacancy rate, and the average rent for Boulder County

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Mortgage rates are solidly in the 3.375% range and aren't doing any mirror movements with the 10 year T-bill right now.  The 10 year which bounced above 1.9% early in the week, then dipped back to 1.84%, shot up to 1.92% early today only to retreat to 1.87% and still falling at mid-afternoon.  The drop is coming mostly from a sell off in corporate bonds as investors are switching to (the currently) higher yielding government bonds.  With the first full slate of government reports for the year coming out next week and Fed Chair Bernanke speaking on Monday, expect some volatility but with rates staying in a quarter percent range of 1.7% - 1.95%.  The 1.95% number is a strong resistance point and it doesn't appear there's enough pressure to push through

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Even during the darkest days of a recession, the Boulder Valley remained a top draw for developers from around the nation.

Gordon “Gordy” Stofer, a director at Houston-based Hines, ticked off the reasons in November at the Boulder Valley Real Estate Conference & Forecast.

“Colorado is the fourth-fastest growing state – first for ages 25 to 34,” Stofer said. “It’s the third most educated. It’s No. 2 in infrastructure index – things like FasTracks, museums, convention centers – and it’s the least obese, which means more productivity.”

“Boulder has one of the lowest unemployment rates in the entire country and a very attractive business climate,” added Steve Eaton, vice president of Goff Capital Partners LP, “which has roots in Fort Worth, Texas. It

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For those who have resolved to take advantage of the great mortgage interest rates by refinancing their homes in 2013, be aware that navigating the loan process is more difficult than ever.

Frank Donnelly, president of Mortgage Bankers Association of Metropolitan Washington, tells Yahoo!Homes that homeowners should refinance with caution.

“You definitely have to have your ducks in a row,” Donnelly says. “It's still a tight credit environment, and the documentation requirements are very stringent, no matter how well-qualified you are in today’s market.”

Yahoo!Home gathered these tricks of the refinancing trade from mortgage experts:

Trick No. 1: Know why you’re refinancing 

Homeowners need to consider whether their current monthly mortgage

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With very little news so far this week and very little coming out the remainder of the week, bonds are just re-gaining a little of what they lost last week.  Last week's sell off was an over reaction but there is no question we are off the bottom of the interest rate floor and most all pressure is up.  The 10 year bond has dropped back towards its 1.84% support level and is sitting just below 1.85% late Wednesday.  The next lower support level is at 1.80% and for us to see those 3.25% interest rates again, the bond will need to drop below the 1.80% support level and probably down towards 1.75%. Thursday and Friday have minimum reports, just jobless claims and International Trade.  Next week contains a pretty full slate of reports.  Expect rates stay put

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While sales of Boulder-area homes fell from October to November, the drop was insignificant compared with the year-over-year increase, perhaps indicating the market ended 2012 on a strong note.

“We’ve got a lot of positive going on right now,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association. “It (the month-over-month decline in sales) is typically what you expect to see in good times or bad times. The month before we did get a surprise because we got a boost that suggested that we would have a pullback in November. It wasn’t unexpected. I would have liked another solid bump, but this is not bad.”

Hotard says it’s typical to see sales drop 5 percent to 7 percent from month to month in the winter. 

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