August 2012

Found 25 blog entries for August 2012.

I’m on call.  15 year fixed is 2.875% 0+0

No surprises for the end of the week.  The 10 year bond is down below 1.60% this morning which will keep 30 year mortgage rates at 3.5%.

The latest Jobless Claims numbers came in slightly worse than expected but still at the high end of the consensus range.  Last week’s numbers were revised upward slightly (that’s bad for economy, good for rates).  All-in-all, we’re still having too many people file new unemployment claims each week for the number of jobs we’re creating.

Personal income and outlays came in at consensus, up 0.3% but last month’s numbers were revised down from 0.5% to 0.3%.  Consumers spent more in July, which we talked about last week but income isn’t keeping pace.  The net of the news is

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Art has been a real estate agent for 3 years. Before becoming a real estate agent, Art was a builder, so, he has been evaluating property for over 20 years. He has had the experience of sitting in the buyer and seller's shoes for 20 years which is what makes him great in the real estate business. Art has worked at RE/MAX of Boulder for the past year. His specialties are investment property and flips as well as residential property in Boulder.

 Art lives near Chautauqua in Boulder. He is originally from New York, but moved to Boulder to attend CU and wasn’t able to leave. Art and his wife are both Buffs and he has two kids that currently are attending CU. In his free time he enjoys cycling, skiing, and hanging out with his family. 

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We received some good economic news in some marginally important reports early this week.  The 10 year bond which had remained in the low 1.60% range since the end of last week moved up slightly to 1.66%.  Mortgage rates remain at 3.5% for a 30 year fixed.  There were three reports of any consequence and with the Republican Convention being almost over and the Dem’s approaching, both will have spins on the reports:

- GDP came in as projected at 1.7%, up from 1.5% last quarter.  Both numbers reflect modest gains and most surprisingly, right at consensus.  Politically, both parties will make claims about the numbers.  The Dems will say that the economy is growing and the numbers are an improvement over last quarter.  The GOP will claim that while the

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Great Harvest

The Great Harvest Bread Co. is a locally owned and operated bakery and eatery. The  Boulder location doors opened in May of 1983 (nearing a 30 year anniversary) by Scott and Sally Creevy.  Scott, a Boulder native, had no culinary or restaurant background when he decided to pursue his interest in starting his own company.  With the support of his wife and sister-in-law they decided to open up a Great Harvest Bread Co. in Boulder.  I asked Scott how opening the doors in 1983 went and he said, "starting a businesses is always hard" but that after many years of trial and error they have become more stable with the business.  Scott said that with the ever changing ways of business they are always striving to stay ahead of the curve but stay true their

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15 year rates 2.875%

As we talked about Wednesday, all the “great” economic news from the end of last week and the first part of this week, really isn’t so great.  The investors were really looking at silence  from across the pond and some homegrown headlines as good news for the economy while the underlying economics weren’t so good.  On Wednesday, the 10 year T-Bill hit a high of 1.84% and mortgage rates hit 3.75%.  Today the T-bill dropped to 1.63% before climbing back to 1.68%. For mortgage rates, that means we dropped back to 3.5% on the 30 year.

Here’s what’s happening:
Jobless claims came in higher than expected showing more weakness in the economy.

New home sales were stronger than expected in July but well within the consensus range, so

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         Janet Leap has been in the Real Estate business for 8 years. All but 6 months of those 8 years have been here at RE/MAX of Boulder. Janet is from Louisiana, but was brought to Boulder to attend CU where she graduated with a degree in environmental biology.

            Janet is not only an amazing agent at RE/MAX, but also a fantastic mother. Janet has three boys all under the age of 5. When Janet can find some spare time, she enjoys hiking, snowboarding, and relaxing with her family.


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If you’re currently in the financial throes of buying or selling a property, one term you may have heard mentioned is a “bridge loan.” A bridge loan is a short-term bank loan of the equity in the home you are selling. Usually, homeowners take out a bridge loan to wiggle out of a tight spot.

Maybe you’re closing on the home you are buying before you close on the property you are selling. This loan basically enables you to have a place to live after the closing of your existing home.

But why a bridge loan and not a home equity loan? While a home equity loan is less expensive, bridge loans contain more benefits for some borrowers. These benefits can include deferred monthly payments, and the fact that the buyer can immediately put a home on the market

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With a quiet Monday and Tuesday on the economic front, we saw rates on the 10 year treasury rise back to the highs of last Friday, 1.87% after dropping back to 1.78%.  No real news causing it, just the trend. Today we received several reports and rates dropped below 1.7%.  For mortgage rates, that means we went up to 3.75% on a 30 year, dropped back to 3.625% today and may see 3.5% by week end depending on the news Thursday and Friday.  The only thing notable from all this is that it reflects the market sentiment; that in the absence of actual bad economic news, we will assume good economic news. That’s a switch from a month ago. Rates have definite upward pressure.

Three reports of consequence today:
Existing home sales came in at consensus, up 2.3%,

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This week's business of the week is Boulder Baked.   

If you have not heard of Boulder Baked, they are a local bakery that focuses on...desserts.  Their motto is 'we deliver dessert nightly because sometimes dinner just leaves you wanting a little more'.  This locally owned and operated store was founded over 13 years ago and uses old family recipes that go back generations!  Boulder Baked is a nightly delivery bakery that cooks up their popular home-style desserts and warm fresh baked cookies from 4pm-Midnight six days a week.

Their most popular item are their warm and chewy cookies, available in almost every kind!  Not a cookie person?  Then try one of their premium eats; cupcakes, brownies, cakes, or sundaes.  Their extensive list of options will have…
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Regardless of the economy, owning a home is still the American Dream for many. The good news is that if you’re financially stable, then purchasing a home at any time is a solid investment. As long as you’re confident you will be able to maintain monthly mortgage payments, buying a home can bolster your credit, help you save money, give you a break on your taxes and more. Here are some of the top reasons why buying is still smart.

Gain Credit. A mortgage can boost your credit score—a boon even for those who already have superior financial health.  Make sure to check your credit before looking into a mortgage.  If you’re eligible, then taking one on and making your payments shows potential lenders you’re a good candidate for any future home loans.

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