Karl Menzer's (karlmenzer) Blog

Wednesday, May 14, 2008  After yesterday's dismal drop, today's market works just fine for me. We are still in a lock mode, meaning that if a client signs that purchase contract, it's best to have them take the rate out there and not bet on better rates tomorrow.  Making the market move today is ...

Tuesday, May 13, 2008  Citing better customer service and internal cost savings, Wal-Mart reported that their profits rose 6.9% in the first quarter of 2008... better customer service??? Riiight.... More likely that many Americans hit by the latest squeeze have become box shoppers to stretch thei...

THE JOB MARKET   Weekly Jobless claims dropped dramatically last week. Initial jobless claims came in at 365,000 down 15,000 from the prior week, and 5,000 less than expected. In Utah, labeled as one of the most recession proof cities in America, unemployment edged down to 3.1% in April. Approxim...

Retail sales came lower than expected but with most of that due a drop in auto sales and the dow futures pointing up, if someone signed a REPCE yesterday and there is still overnight price protection, they should lock. The bond is down over 32 Bp for the morning and has fallen below most levels o...

ZERO MONEY DOWN!!!! NO MONEY DOWN!!!! 100% FINANCING!!! Things of the past right? Wrong.... An article caught my eye today that for lack of a better word dogged the gift program process. Although there may be some less than honest lenders who will push an appraiser to boost numbers, many more ar...

Bonds have fallen under the stress of the Stock Market Rally. Currently the stock Market is up over 120. This is forcing the Bond down 25 for the day, but 34 Baisi points since pricing came out this morning. If you know of someone who is still floating, it would be best to have them lock, for the...

Monday, May 12, 2008 Bond Insurer MBIA posted a $2.41 Billion loss in the first quarter. Indymac also came out posting a loss this quarter, then going further by stating that it more than likely show a profit this year.  There isn't much economic news out today, but he week is packed full of earn...

Bonds have headed down sharply within the last 30 minutes and the FNMA 5.5% is now down 50 Bp for the day.

Friday May 9th, 2008 If speed racer were real I think he may have to start looking at alternative fuel for the Mach 5. Oil topped $ 126 a Bbl today, once again reaching an all time high. Don't even get me started on the price of Platinum. Mix into this volatile market a much sharper than expected...

Thursday, May 08, 2008Initial jobless claims fell more than expected last week, beating analysts' estimates by 5,000. This was also a drop of 15,000 from the previous week. Although this is better than expected, the 380,000, any number above 300,000 is still pretty weak in the markets eyes. After...