MMG Monthly - Views You Can Use

Provided to you Exclusively by Phil Jensen Phil Jensen Senior Mortgage Consultant Amerifirst Financial Office: 480-682-6613 Mobile: 602-692-7445 Fax: 480-374-6987 Email: Phil@JensenTeam.com Website: www.Philip.Jensen.com   For the Month of August 2010 --- Vol. 5, Issue 8     IN THIS ISSUE...           What's in a name? This month's edition is all about names. For instance, the Financial Reform bill was recently signed into law. But does this new law really reform the financial system, as the term suggests? The first article below provides a brief overview of the changes in the law. You'll also find two articles below that can help you remember names of people you meet, while protecting your own good name from identity theft! Ch-ch-ch-ch-changes - Are the new Financial Reform changes really worth singing about? It pays to have a good memory - Give your networking or job search a boost with these techniques. Q&A: Identity protection? - Follow these simple steps to make sure your identity is protected! If you have any questions or need any help at this time, just call or email to discuss your unique situation. And, please forward this newsletter to friends, family members and coworkers who may find the information helpful.     Are Financial Reform ch-ch-ch-ch-Changes Worth Singing About?           They say the only constant is change... and more change is coming! Last month, the sweeping Financial Regulation Bill was signed into law and promises to bring a wave of new changes to the financial system. But the question is: what does this change mean to you? Here's what you need to know. Generally speaking, the law calls for a new consumer protection agency and prohibits banks from taking risky bets. While those things are important, it's also important to realize that this legislation... over 2,000 pages worth... amazingly does nothing to address the core reasons for the financial collapse. Fannie Mae and Freddie Mac are completely left out of this legislation. Additionally, the credit rating agencies - which may have played the largest role in the financial collapse - also go unmentioned. In fact, when former Fed Chairman Alan Greenspan was asked about Financial Regulation, he noted that this was the first time the Fed was not asked to write a regulation of this kind. He also said that there are "unintended consequences" in every page of this bill. And one consequence we've seen already is that corporations are hoarding cash, and are somewhat stuck like a deer in the headlights due to the uncertainty that this and other pending legislation is creating. And when corporations hoard cash, they don't typically hire workers, and job creation is crucial to our recovery. What all this will mean for our economy and home loan rates remains to be seen... which is why now is the perfect time to act, while home loan rates continue to be some of the best they have ever been! If you or anyone you know would like to learn more about this exceptional opportunity, please don't hesitate to call or email. Or forward this newsletter on to anyone you think may benefit and I'd be happy to talk to them free of charge.     It Pays to Have a Good Memory           In today's tough job market, it can pay (quite literally) to have a good memory. That's because a good memory can help you stand out from the competition - whether you're networking and trying to remember names or researching a potential employer and trying to remember specific points. Unfortunately, many of us have trouble remembering the name of someone two minutes after we shake her hand. If that sounds like you, don't worry. you're not alone. It's actually an extremely common occurrence for many people. The good news is there is plenty of research on the subject and there are a number of simple, practical steps you can take to improve your memory now and long into the future. With that in mind, here are a couple of great tips for proactively strengthening your memory: Tip #1: Neurobic Exercise You know all about the wonderful effects aerobic exercise has on the heart, but have you heard of neurobic exercise for the brain? According to Lawrence Katz, co-author of Keep Your Brain Alive: 83 Neurobic Exercises, the best exercise for the brain is to force it to form "new patterns of association" or new pathways. In other words, challenge your brain every day. take it off autopilot and make it relearn or create new associations with the most routine activities of your day. Katz's book offers numerous examples of small changes you can make to activate your brain, including: brushing your teeth with the other hand; taking an alternative route to work; moving your wastebasket to the other side of your desk; closing your eyes while putting your key in and unlocking the front door; and changing where you and your family members sit at the dinner table. So if you feel like your memory might be starting to slip a bit, try some of these simple neurobic exercises today! Tip #2: Mnemonic Drilling There are actually three steps or stages of memorization: acquisition, consolidation, and retrieval. That means, once we acquire new information, like someone's name for instance, the way in which we consolidate that data will directly affect how well we're able to retrieve it from memory. Whether you're a visual or auditory type of learner, there are many mnemonic devices that can help you to better organize or consolidate the new information that you need to recall. Here's an example of simple steps that might help: First, associate the data you want to remember with common images. For instance, let's say you meet someone named Jennifer Green. Imagine Jennifer playing golf, or picture her wearing all green clothes, or imagine her face painted completely green. Second, think of associations you can use to help you remember this person. For instance, link Jennifer to the quality that best fits her personality (use alliteration and rhymes whenever possible): Jolly Jennifer Green. Finally, connect sound to your memory by saying the name aloud. Do this regularly and, before you know it, you'll never forget anyone's name again! And that can give you a nice advantage in job interviews and networking.     Q&A: Identity Protection?           QUESTION: How can you protect yourself from identity theft? ANSWER: According to statistics released by the U.S. Department of Justice, about 1.6 million households experience theft of existing accounts other than a credit card (such as a banking account), and 1.1 million households discover misuse of personal information (such as their social security number) annually. Here are some important tips for keeping your information safe and sound: Just the facts - Rather than give unnecessary information (like your date of birth and income level) when you fill out things like warranty cards or supermarket club cards, start sharing only what's really necessary in every situation. Navigating the net - Never post your address or your full date of birth on any social networking sites because both are pieces of information needed to steal your identity. Also, when applying for a job, thoroughly investigate companies before you submit your resume and check the privacy policies of any online job boards to make sure they won't sell your information. Number no-nos - Never keep your Social Security number in your wallet, glove compartment, or any other easy-to-access place. Also, never have it printed on your checks or use it as your password. Finally, if you use an online job site, never give a potential employer your Social Security number until they are ready to hire you. Shed it - When you are ready to get rid of old documents that contain important information, make sure you shred them. The bottom line is this: When it comes to your personal information, share it on a need-to-know basis only!           The material contained in this newsletter has been prepared by an independent third-party provider. The material provided is for informational and educational purposes only and should not be construed as investment, financial, real estate and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors. As your Trusted Advisor, I always want to make sure you are clear on all details of the home financing process. If you or someone you know are interested in purchasing or refinancing a home, give me a call today! In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: Phil@JensenTeam.com If you prefer to send your removal request by mail the address is: Philip Jensen 1910 S. Stapley Dr., Ste.209 Mesa, AZ 85204 .

---

NOTE: THIS IS A CONFIDENTIAL AND PRIVILEGED COMMUNICATION. This transmission is intended only for use by the individuals or entities to which it is addressed, and contains confidential and/or privileged information. If the reader of this message is not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please send a reply to us and permanently delete the e-mail from your computer.

Posted via email from philipjensen's posterous

Fw: MMG Weekly: Economy 'Laboring' Towards Recovery

Sent from my Verizon Wireless BlackBerry

________________________________
From: MMGW
Date: Sun, 8 Aug 2010 09:38:40 -0700
To: Phil Jensen
Subject: MMG Weekly: Economy 'Laboring' Towards Recovery

If you can't see the newsletter, or would like to view it online, use this link If you have received this newsletter indirectly and would like to be added to our weekly distribution list, use this link
[http://www.mmgweekly.com/admin/images/mmg_logo.gif]
[http://www.mmgweekly.com/templates/images/weekly/banner_weekly_Blue.jpg]

[http://www.mmgweekly.com/member/32989/images/jensen-amerifirst.gif-final.gif]

Provided to you Exclusively by Phil Jensen

Phil Jensen
Senior Mortgage Consultant
Amerifirst Financial
Office: 480-682-6613
Cell: 602-692-7445
Fax: 480-374-6987
E-Mail: Phil@JensenTeam.com
Website: www.PhilipJensen.com

[http://www.mmgweekly.com/member/32989/images/philip-jensen-photo.gif-finallll...]

For the week of Aug 09, 2010 --- Vol. 8, Issue 32

In This Issue

Last Week in Review: The important Jobs Report numbers are in... survey says? Get all the details below.

Forecast for the Week: More inflation news is ahead, plus the Fed is meeting. Will they shake up the markets?

View: Web cam interviews are growing in popularity these days. Learn tips for acing one!

Last Week in Review

WORKIN' NINE TO FIVE... WHAT A WAY TO MAKE A LIVIN'..." Dolly Parton. But unfortunately, last week's Jobs Report was worse than expected, showing more and more people aren't workin' nine to five or any other kind of full time job. So what does this mean for our economy and home loan rates? Read on to find out.

[http://www.mmgweekly.com/templates/mmgweekly/spe_chart/Top_Chart_8_9_10.jpg]Last Friday's Jobs Report showed that 131,000 jobs were lost for the private and government sectors, versus the 87,000 job losses expected. To add insult to injury, the revisions for June showed nearly 100,000 more jobs lost than had been previously reported. While some of the losses were due to the government laying off temporary census workers, the private sector was also disappointing, showing 71,000 job creations for July, worse than expectations of 83,000... and well short of the market's hope of 100,000. Rounding out the report, the Unemployment Rate remained steady at 9.5%, just below the 9.6% anticipated.

In addition, something to keep in mind is that the State governments are now under major pressure because of growing budget deficits. With tax revenues declining and budget cuts needed, States are finally having to make cuts like the private sector already has. As they start to catch up in making cut-backs to headcount, this could cause the unemployment rate to worsen. Not very good news, as an improvement in the labor market is needed to fuel the economic recovery... and especially disappointing, considering the money that has been injected to try and remedy this situation.

Also in the news, the Commerce Department reported last week that Personal Spending and Incomes were unchanged in June, due to a slowing of the economic recovery in the spring. In addition, the Savings Rate increased as consumers cut back on spending.

Why is all this significant... and what does it have to do with interest rates? It has to do with something called the velocity of money. Even though the government keeps pumping money into the system, nothing happens until that money is spent or lent, and passes from one hand to another, or one business to another. The speed at which this money passes between parties is called the velocity of money. With the job market still very sluggish, consumers aren't spending much money these days... and businesses are still reluctant to spend money making investments in their business. With present velocity at low levels, inflation remains subdued... however, once velocity increases, the excess money in the system will cause inflation.

And remember, inflation is the arch enemy of Bonds and home loan rates... which means that even the scent of inflation can cause home loan rates to worsen.

While we certainly want to see better Jobs Report numbers in the future, Bonds and home loan rates were able to benefit from the poor report. Remember, weak economic news often causes money to flow from Stocks to Bonds as traders seek to protect their investments in the safer haven of Bonds. As a result, Bonds and home loan rates ended the week slightly better than where they began.

If you or anyone you know would like to learn more about taking advantage of historically low home loan rates, please don't hesitate to call or email. Or forward this newsletter on to anyone you think may benefit and I'd be happy to talk to them free of charge.

ACING A JOB INTERVIEW IS ESPECIALLY IMPORTANT IN TODAY’S TOUGH JOB MARKET. CHECK OUT THE MORTGAGE MARKET GUIDE VIEW FOR SOME TIPS ON HAVING A GREAT WEB CAM INTERVIEW.

Forecast for the Week

There will be plenty of action ahead this week, beginning with Tuesday's Federal Open Market Committee meeting. This week's meeting will be very important and closely watched as the important "extended period" language will come under scrutiny, as well as options that the Fed will discuss to further stimulate the economy and avoid deflation. Their decisions could certainly impact home loan rates, and I will be watching closely to see what happens.

Also this week, Thursday brings another Initial and Continuing Jobless Claims Report, while on Friday we will see both the Retail Sales and Consumer Price Index (CPI) Reports. Remember, last week it was reported that Personal Savings increased, so it will be important to see how this impacts Retail Sales. And, as mentioned above, any hint of inflation can hurt Bonds and home loan rates, which is why the CPI Report - which measures inflation at the consumer level - is also an important one to watch.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

As you can see in the chart below, Bonds and home loan rates continue to improve, most recently aided by the weak Jobs Report.

-----------------------

Chart: Fannie Mae 4.0% Mortgage Bond (Friday, August 6, 2010)

[http://www.mmgweekly.com/templates/mmgweekly/reg_chart/258/images/Weekly_Char...]
The Mortgage Market Guide View...

How to Succeed on Webcam Interviews

Webcams have steadily grown in popularity in households across the country. Now, companies are embracing the technology as a cost-effective, timesaving way to conduct interviews. And businesses aren’t the only ones turning to this technology. Colleges and universities - such as the University of Georgia, Pennsylvania State University, Arizona State University, and Wake Forest - are also using the technology to interview applicants before admitting them.

If you or someone you know is in the process of applying for a new job or to a university, the following information can help you put your best foot forward if you’re asked to participate in a webcam interview.

Eliminate distractions. When you’re on a webcam at your house, you can be interrupted by the phone ringing, the kids playing, or the doorbell ringing. To make sure that doesn’t happen, find a quiet place where you can avoid any distractions that may compromise your interview.

Remove the clutter. A webcam interview doesn’t just allow the company to see you; they can also see into your home. If the background setting looks messy, cluttered, or less than professional, it may taint the company’s perception of you. So, clean up everything that will be in the background, including those things that are off in the distance. The best advice is to have a clean, simple background setting for the interview where only one or two major pieces of furniture can be seen.

Dress for success from top to toe. While it may be tempting to dress professionally from the waist up while wearing shorts or pajamas below, don’t do it. There are too many stories of people who found themselves reaching for a book or retrieving an object during the interview, only to be embarrassed by the lack of professional attire on their legs. And while the situation may sound laughable, the company interviewing you may take it as a sign that you’re either trying to get away with something or that you’re the type of person who does things halfway.

Check the lighting. Anyone who’s ever used a webcam realizes that you can sometimes appear pale or tired in an online video. To overcome this problem, you can take a few simple steps. First, make sure you are well rested before the interview. Second, check the lighting. You’ll want the room to be bright, but not so bright that your face is washed out. If you need additional lighting, bring a lamp or two into the room.

Maintain eye contact. To make sure you maintain eye contact, look directly at your webcam - rather than at the person’s image on your monitor. It may feel awkward at first, but it will appear natural and professional to the person on the other end.

Test your equipment. No matter how familiar you are with a webcam, you should arrive at your desk well before the interview and test your equipment. You may even want to consider video chatting with a friend for a few minutes.

Send the right body language. Like a face-to-face interview, your posture and body language are important online. So sit up straight, use simple hand gestures as you talk, and resist the urge to fidget or make a lot of unnecessary movements (like scratching your head or constantly readjusting your seating position).

Be specific, yet concise. Provide concise answers that convey specific details. Prepare specific talking points and details about your accomplishments, and then practice saying them succinctly. But don’t memorize a script like you would a speech. Instead, focus on working some talking points into different types of answers.

Finally, don’t be put off by a short silence after you finish speaking, which is likely due to the time delay. Remain confident and stick to your concise statements.

--------------------------

Economic Calendar for the Week of August 9-13, 2010

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.

Economic Calendar for the Week of August 09 - August 13

Date

ET

Economic Report

For

Estimate

Actual

Prior

Impact

Tue. August 10
08:30
Productivity
Q2

0.1%

2.8%

Moderate

Tue. August 10
02:15
FOMC Meeting
8/10

0.25%

0.25%

HIGH

Wed. August 11
08:30
Balance of Trade
Jun

-$42.5B

-$42.3B

Moderate

Thu. August 12
08:30
Jobless Claims (Initial)
8/07

465K

479K

Moderate

Fri. August 13
08:30
Consumer Price Index (CPI)
Jul

0.2%

-0.1%

HIGH

Fri. August 13
08:30
Core Consumer Price Index (CPI)
Jul

0.1%

0.2%

HIGH

Fri. August 13
08:30
Retail Sales
Jul

0.5%

-0.5%

HIGH

Fri. August 13
08:30
Retail Sales ex-auto
Jul

0.2%

-0.1%

HIGH

Fri. August 13
10:00
Consumer Sentiment Index (UoM)
Aug

70.0

67.8

Moderate

The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is not without errors.

As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: Phil@JensenTeam.com

If you prefer to send your removal request by mail the address is:

Philip Jensen
1910 S. Stapley Dr., Ste.209
Mesa, AZ 85204

Mortgage Success Source, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Success Source, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.

[http://www.mmgweekly.com/templates/spare_images/ehllogo_btm.gif]

________________________________
NOTE: THIS IS A CONFIDENTIAL AND PRIVILEGED COMMUNICATION. This transmission is intended only for use by the individuals or entities to which it is addressed, and contains confidential and/or privileged information. If the reader of this message is not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please send a reply to us and permanently delete the e-mail from your computer.

Posted via email from philipjensen's posterous

MMG Weekly: Uncertainty Dominates the Markets...What Does it Mean to You?

Provided to you Exclusively by Phil Jensen       Phil Jensen Senior Mortgage Consultant Amerifirst Financial Office: 480-682-6613 Cell: 602-692-7445 Fax: 480-374-6987 E-Mail: Phil@JensenTeam.com Website: www.PhilipJensen.com

For the week of Jul 26, 2010 --- Vol. 8, Issue 30

In This Issue

Last Week in Review: The Fed and "uncertainty" dominated the news last week... what was all the buzz about? Forecast for the Week: What should you be on the look out for this coming week? View: 10 things you overpay for... and how you can start saving today!

Last Week in Review

"UNCERTAINTY AND MYSTERY ARE THE ENERGIES OF LIFE." And while the Bond market may agree with R.I. Fitzhenry's words about uncertainty, most investors in the Stock market don't... just ask Fed Chairman Ben Bernanke. Last week, Mr. Bernanke testified before the Senate and House Banking Committees, making several cautious comments on the state of the labor market and inflation, as well as stating that the Fed would be ready to take action should economic conditions worsen. But the comment that spooked Stocks and helped Bonds was when Mr. Bernanke said the economic outlook is "unusually uncertain." Stocks hate uncertainty but Bonds usually perform well as a safe haven, so Bonds and home loan rates improved upon the utterance of these words. Mr. Bernanke also stated that one way to normalize the size and composition of the Federal Reserve's securities portfolio would be to sell some holdings of agency debt and Mortgage Backed Securities. And an article in the New York Times concurred, stating that the Fed’s MBS holdings are already problematic and put the Fed in a tough position where it may find itself having a conflict of interest - and here’s why. While inflation is subdued for now, it’s only a matter of time before the Fed will need to hikes rates in order to keep inflation controlled. But any hike in rates would cause the Fed to lose significant value on their Mortgage Backed Security holdings. So the tough question is... how will the Fed act, in light of this conflict? Remember, the Fed purchased $1.25 Trillion worth of Mortgage Bonds, as well as several hundred Billion in Treasuries. Those purchases helped drive rates down towards historic low levels - and yet the housing market is still not entirely healthy. So this also begs the question, what would cause a different result? One perspective is that the Fed - like many in Washington - missed the point. The problem is not that rates need to be lower. Many individuals already want to purchase or refinance at today’s low rates, but are unable to do so because of tighter underwriting guidelines, as well as low valuations. A perfect example is the "no income verification" loan - which has been cast in a negative spotlight as a "liar loan" and virtually eliminated. But there has been a good track record for those loans in the past when underwritten properly. If the government were to direct some resources towards reestablishing some of these more reasonable lending tools, the results m ight be better. Instead - the sweeping Financial Reform Bill was signed into law last week, and the implications of this 2,300-page legislation are sure to be broad. Former Fed Chairman Alan Greenspan himself said that every page appeared to be loaded with unintended consequences... so as this legislation is analyzed and dissected, you can be assured I’ll be keeping a close eye on the impacts it may have and will keep you informed. ----------------------- Fed Chair Bernanke Calls the Outlook "Unusually Uncertain" But the Federal Reserve and Financial Reform are only part of the picture. Mortgage Bonds and home loan rates are also impacted by global financial news. In fact, just last week the Bank of Canada raised rates by .25%, up to .75%... and this could have a major implication on our Bonds. Part of the reason home loan rates have dropped so much has been the currency trade, where the Euro has weakened against the Dollar. Europeans have been taking advantage of the currency trade, and parking money in the US - much of which is in our Bonds. But now, with Canada’s improving economy and slightly higher rate environment, their yields might not only be more attractive for Europeans, but their currency may provide a more lucrative option as well. And the sell-off in our Bonds early last week could have been somewhat due to traders anticipating this move by the Bank of Canada. Another story of uncertainty is developing in China. China's reserves, which are held mostly in US Treasuries as well as Mortgage Backed Securities, stand at $2.5 Trillion. But last quarter marked the first time in a long time that these holdings did not increase. Does this mean that China is slowing their US debt purchases? I will be keeping close tabs on this because a slowdown in US debt purchases from China could adversely impact the Bond market, as their purchases have also contributed to the low rate environment in the US. THESE BIG-PICTURE DEVELOPMENTS IMPACT THE MARKETS AND, IN TURN, YOUR FINANCIAL SITUATION. BUT EVERYDAY PURCHASES CAN ALSO DRAIN YOUR HOUSEHOLD BUDGET. CHECK OUT THE MORTGAGE MARKET GUIDE VIEW BELOW TO LEARN HOW YOU CAN STOP OVERPAYING... STARTING RIGHT NOW.

Forecast for the Week

A number of reports which have the potential to move the markets are coming this week, and we’ll start off with a dose of housing news right away Monday morning with the New Home Sales report. This report comes after last week’s worse-than-expected report on Housing Starts, so the markets will be paying close attention to this report. The manufacturing sector of the economy will also be in the spotlight this week. On Wednesday, Durable Goods Orders will be released. Then Friday brings the Chicago PMI, which surveys more than 200 Chicago purchasing managers about the manufacturing industry and is a good indicator of overall economic activity. On Thursday, we’ll see another weekly read on Initial Jobless Claims. Last week, Initial Jobless Claims rose by 37,000 to 464,000, which was above the 445,000 that was expected. Overall, unemployment is still disappointingly high. The news heats up on Friday when we get a look at the Gross Domestic Product (GDP) and GDP Chain Deflator for the second quarter. The Chain Deflator is a key inflation measure included in the GDP Report. And since inflation is the archenemy of Bonds and home loan rates, this report could be a market mover. Finally, there are two reports on tap this week regarding how consumers feel about the economy with the Consumer Confidence report on Tuesday and the Consumer Sentiment Index on Friday. In addition, the Treasury Department will auction $38 Billion in 2-Year Notes on Tuesday, $37 Billion in 5-Year Notes on Wednesday, and $29 Billion in 7-Year Notes on Thursday. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As stated above, uncertainty in the US and abroad has been impacting the markets, which has helped Mortgage Bond prices climb steadily higher since April, as you can see in the chart below. And this means that home loan rates have moved steadily lower. This presents an unbelievable opportunity for people looking to purchase or refinance a home. It only takes a few minutes to see how you or someone you know can benefit from today’s low rates. Even if you’re not sure you can refinance, it doesn’t hurt to conduct a quick review. Please call me today before this opportunity passes by. ----------------------- Chart: Fannie Mae 4.0% Mortgage Bond (Friday, July 23, 2010)

The Mortgage Market Guide View...

10 Things We Overpay For: You Can Save Big by Buying Cheap Alternatives Instead By Joan Goldwasser, Kiplinger.com Does the avalanche of news about layoffs, business losses and a declining stock market have you looking for ways to cut your spending so you can beef up your savings? We're here to help, with suggestions for less-expensive alternatives to ten everyday purchases (for more ideas, go to www.BillShrink.com, which tracks cell-phone plans and credit cards). Afternoon snacks. Do you munch protein bars as a healthier alternative to a chocolate pick-me-up? You could easily be paying more than $2 per bar and consuming just as much sugar as you would with your favorite candy bar. Stock up on fruit for a fraction of the cost when you do your grocery shopping. You'll be fitter and save a bundle. Bottled water. Yes, it's important to drink water every day. But picking up the bottled variety with your lunch is an expensive way to stay hydrated. Rather than spend $2 a day for water, buy a pitcher and a filter for about $20 and drink as much as you want for pennies a glass. A caffeine fix. Can't get through the day without at least one cuppa Joe? Stopping at Starbucks or Dunkin' Donuts can set you back as much as $1.65 per cup. Splurge on a pound of gourmet coffee for $8 to $13 and you can make 40 cups for about 20 cents to 33 cents each. Favorite tunes. Do you rush out to buy the latest CD by your favorite group even though there are only one or two songs you really like? Instead of paying up to $18 for the CD, download those cuts you want from iTunes for 99 cents each, or from Amazon for as little as 79 cents. A night at the movies. An evening for two at your local theater costs an average of about $20, including the popcorn - and closer to $30 in major cities. And that doesn't even count the babysitter. For just $5 a month, you can watch two movies from Netflix or pay $9 for unlimited viewing. If you're willing to wait a little longer for new releases, borrow them free from your local library. (See Cut the Cable Cord for other inexpensive entertainment options.) Fresh flowers. A bouquet of spring blooms brightens up a room and your mood. But purchasing it from a florist at $25 and up can quickly put a dent in your budget. Check out your local grocery store, which offers a selection of seasonal bouquets for $5 to $10. Fruits and veggies. Sure, precut vegetables and salad mixes that are washed and bagged save a little time. But you'll pay for the convenience. Broccoli florets and sliced peppers cost $6 per pound, compared with one-third to one-half the price for the uncut versions. Lettuce varieties that are pre-washed and bagged sell for $5.98 a pound. But it takes just minutes to wash and spin dry enough arugula for your evening salad, and you'll pay one-third as much. Buying whole strawberries rather than sliced ones that are prepackaged cuts the price by 75%. Credit-card fees. Every month, millions of credit-card customers pay their bills late, and they're assessed as much as $39 each time. Set up an automatic debit and you'll never incur another late fee. ATM fees. Each time you use an out-of-network ATM you pay an average of $3.43. Do that once a week and you'll rack up almost $180 in ATM fees every year. Avoid those charges by selecting a bank with a large ATM network or an online account that reimburses your ATM fees - such as the eOne no-fee account from Salem Five Direct bank. Another alternative: Get cash back at the grocery store. Fax and mail services. Instead of paying FedEx $1.49 to fax one page, sign up to send free faxes from a provider such as faxZero or K7.net. Save on shipping with the U.S. Postal Service's priority mail service. You'll pay just $4.95 to mail an envelope or small box anywhere in the U.S., and your parcel is likely to arrive within two days. Larger packages cost $10.35. That saves at least 50% compared with UPS's two-day service, the cost of which varies by weight and distance. Reprinted with permission. All Contents © 2010 The Kiplinger Washington Editors. www.kiplinger.com -------------------------- Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise. Economic Calendar for the Week of July 26 - July 30 Date ET Economic Report For Estimate Actual Prior Impact Mon. July 26 10:00 New Home Sales Jun 310K spanspanspanspan

Posted via email from philipjensen's posterous

Interest Rate Update

	Mortgage Time Mortgage Market News for the week ending July 16, 2010
Compliments of Philip Jensen AmeriFirst Financial PHONE: (602) 492-6595 Philip@PhilipJensen.com      Events This Week: Retail Sales Down Inflation Low Sentiment Dropped Manufacturing Fell Events Next Week: Tues 7/20 Housing Starts Thur 7/22 Existing Sales Leading Indicators Treasury Announce.		Slow Growth, Low Rates Weaker than expected economic data and continued low inflation helped mortgage rates move a little lower from last week. In recent weeks, investors have modified their consensus outlook to reflect weaker economic growth during the second half of the year. The manufacturing and retail sales data released during the week reinforced this view. Lending further support, the Fed revised its forecast for 2010 economic growth lower as well. Meanwhile, this week's CPI and PPI data continued to show that inflation is not a concern in the short term. Uncertainty about the pace of the economic recovery has made investors willing to purchase safer assets such as government guaranteed mortgage-backed securities (MBS) at these relatively low yields. Congress passed the comprehensive Financial Regulations bill and President Obama will sign it into law soon. The bill provides a framework for oversight of the financial services industry, and certain aspects of the bill will affect mortgage lending and the home buying process. The bill calls for various regulatory agencies, some of which will be newly created, to determine the details. Implementation of most of the new mortgage-related rules is expected to take 18 to 24 months to complete. Also Notable: June Core CPI inflation increased at a very low 0.9% annual rate Weekly Jobless Claims dropped to the lowest level since August 2008 The debt of Portugal was downgraded by a major credit rating agency Bernanke stated that increasing credit to small businesses is "crucial" to the economic recovery Average 30 yr fixed rate: Last week: -0.02% This week: -0.05% Stocks (weekly): Dow: 10,200 +100 NASDAQ: 2,200 +25    Week Ahead A light Economic Calendar next week will focus mainly on Housing data. Housing Starts will be released on Tuesday. Existing Home Sales and Leading Indicators will come out on Thursday. Also on Thursday, the Treasury will announce the size of upcoming auctions.

---

NOTE: THIS IS A CONFIDENTIAL AND PRIVILEGED COMMUNICATION. This transmission is intended only for use by the individuals or entities to which it is addressed, and contains confidential and/or privileged information. If the reader of this message is not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please send a reply to us and permanently delete the e-mail from your computer.

Posted via email from philipjensen's posterous

News from Overseas Helps Stocks...and a Special Video View

Send to a Friend

Phil Jensen Mortgage Director AmeriFirst Financial Phone: 602-692-7445 Fax:: Phil@JensenTeam.com www.JensenTeam.com

In This Issue           Last Week in Review: News from "over there" helps Stocks over here. Forecast for the Week: Manufacturing and inflation news heat up the headlines... and could rock rates. View: What do you need to know about your gas and electric bills? Special Video View!           Last Week in Review           "Over there... over there..." The old patriotic song hit it on the head, in terms of what has been driving market action lately... news from overseas. In the absence of US economic reports last week, Stocks received some help from headlines "over there." Late last week, the European Central Bank (ECB) left interest rates at a record low - which wasn?t really a surprise, given the sharp economic slowdown and uncertainty in Europe. But in a separate briefing, ECB Executive Board member Juergen Stark stated that "the worst of the sovereign debt crisis seems to be over." He went on to say that tensions within the financial markets have "calmed down" as the enormous $442 Billion collection of one-year loans by the ECB went without any problems. Although the Stock market may benefit from such calming commentary, the reality is the worst may not be over yet. In fact, rumors are surfacing that Italy may be the next country to reveal debt problems - making this a story to continue watching. ----------------------- European Central Bank and Stress Test News Helped Stocks There was also a lot of talk overseas last week about bank stress tests - and the positive buzz helped Stocks around the globe move higher. Similar to what took place in the US a couple of years ago, these stress tests may provide some transparency and help differentiate which financial institutions are strong - so they're not lumped in with some of the more troubled ones. Although the official reports will not be released until July 23rd, French Finance Minister Christine Lagarde indicated last week that the final results will show that European banks are "solid and healthy." When stress tests were conducted on the US banks, the positive results helped boost financial Stocks nearly 40% over the following several months. It is possible that favorable results from the European stress tests could bolster confidence in the Eurozone, which would unwind some of the trading activity that has taken place during the past two months - that being the flood of money out of Europe into the US and purchasing our debt securities and Bond instruments, including Mortgage Bonds. If this starts to reverse, home loan rates will worsen... and this can happen very quickly. I?ll be watching this closely - but if you have been waiting to get in touch regarding taking advantage of still-historic low home loan rates... don?t wait! ECONOMIC NEWS FROM EUROPE ISN'T THE ONLY HOT STORY THAT DESERVES YOUR ATTENTION. THE TEMPATURE HAS SOARED LATELY ACROSS THE US, SCORCHING THE NATION AND PROMPTING MANY PEOPLE TO REVIEW THEIR ENERGY USE - AND ITS IMPACT ON THEIR BUDGET. CHECK OUT THE SPECIAL MORTGAGE MARKET GUIDE VIDEO VIEW BELOW TO LEARN HOW YOU CAN PERFORM A HOME ENERGY AUDIT.           Forecast for the Week           Last week's economic calendar was very light; but this week, we?ll see the exact opposite as reports flood the headlines near the end of the week. Along with more news coming from overseas... the week's action could cause home loan rates to change trend. Bond prices have been rocketing higher with home loan rates moving lower... but history tells us that a reversal is in store - it's just a matter of when. On Wednesday, we?ll see the Retail Sales figures for June, as well as the Meeting Minutes from the past Fed meeting. Although the Fed hasn't made any major policy changes as of late, the meeting minutes are still closely watched by the markets for any stray comments or discussion on matters such as inflation or the "extended period" language regarding rates. Things heat up on Thursday with a number of reports on manufacturing and inflation. The Philadelphia Fed Index and the Empire State Index will both be released Thursday morning - giving us a detailed look at the manufacturing sector. We'll also see the latest reports on Capacity Utilization and Industrial Production, as well as the Producer Price Index (PPI), which measures inflation at the wholesale level. The day after the PPI is reported, we?ll see the Consumer Price Index (CPI), which measures inflation at the consumer level. Remember, inflation is the archenemy of Bonds and home loan rates, so it will be important to see what these reports reveal. We'll also see the weekly Initial Jobless Claims report on Thursday morning. Last week's number came in better than expected and showed an improvement over the previous report, which gave the financial markets a glimmer of hope. It also gave Bond investors an excuse to take a little profit off the table - since Bonds have been priced for perfection, and any blip in the economic data is providing reason to preserve profits. In addition to those reports, the Treasury Department will auction $69 Billion this week. The auctions will consist of $35 Billion in 3-year Notes on Monday, $21 Billion in 10-year Notes on Tuesday and $13 Billion in 30-Years on Wednesday. The good news is, the $69 Billion total represents the lowest offering in a year - and when this "low" figure was announced last week, it helped Bond prices improve. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. And as you can see in the chart below, Mortgage Bonds have been inching higher - helping home loan rates move lower - and making this an ideal time to review your current loan or purchase a new home! If you or someone you know wants to see how these rates might help your situation, please call me today. Even if you aren't sure if you can refinance or buy - get in touch, and let's discuss the possibilities. Such unbelievable low rates will not last forever. ----------------------- Chart: Fannie Mae 4.0% Mortgage Bond (Friday, July 9, 2010)           The Mortgage Market Guide View...           Home Energy Audit

Posted via email from philipjensen's posterous