Downtown Slo (San Luis Obispo, CA)
By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
We here at www.myslohomefinder.com wish everyone a great weekend!  We are busy going over the recent data to see where interest rates are going?  The vast opinion is that we are going up, and we will probably see rates by October in the 4.5% to 4.75% range!  Then in a 2 year time period over 5% and perhaps coming up to the 6% area.  That's why we are encouraging all our buyers to get those bids in now!   The past week: Payroll Jobs, Unemployment Rate               May Payroll Jobs came in a little higher than expected but modest downward revisions were offsetting. Total payroll jobs in May increased 175,000 after rising a revised 149,000 in April (originally up 165,000). Market expectations were for a 167,000 gain for May. The net revisions for March and April were down 12,000. April wa...
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By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
Where are rates going?  They have risen a little, but are holding steady now.  We have a battle between cheap government money and the first signs of inflation.  Who will win?  It depends on what the inflation numbers are, and you have to throw in there jobs and GDP numbers. Visit my web site at www.myslohomefinder.com for all your home needs in San Luis Obispo, Atascadero, Templeton, Paso Robles, Arroyo Grande, Pismo Beach, Avila Beach, Shell Beach, Nipomo, Oceano and Santa Margarita California. What's up today: ADP and ISM Attempt to Break Monotony           Private payrolls by ADP's count rose only 158,000 in March which is far below ADP's 237,000 count for February (revised). Note that the government's initial private-payroll count for February is 246,000.Employment is the weak link...
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By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
Anyone afraid of the sequester!  I'm not!  We need to cut spending and cut taxes! To bad the politicans can't come up with a budget isn't it! Will Rogers quote of the day, "We have the best Congress money can buy!"  Sorry but true! Check out my web site at www.myslohomefinder.com for all your home search needs and wants. What's up today: Italy Reactions, Bernanke, Data, and Auctions           Yesterday, the Dow dropped significantly, and the 10 yr bond followed after yesterday morning's Italian election results   Home prices are marching higher, up a very strong 0.9 percent for December's 20-city adjusted Case-Shiller Index. This rate is the best since last year's second quarter when monthly gains averaged a recovery best 1.0 percent. New Home Sales in January surged a monthly 15.6 perc...
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By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
The question for today is where are interest rates going?  We see the signs of higher inflation on the horizon.  So with higher inflation we will see higher mortgage rates.  Visit my web site at www.myslohomefinder.com for all your San Luis Obispo County home search needs. The Day Ahead: Retail Sales, Import and Export Prices           Forecasts are all over the map for January retail sales. But a gain in line with December's 1/2 percent gain could give a boost to the 2013 economic outlook. In the first month since the reduced payroll taxes expired and rose back to traditional rates, Retail Sales slowed but followed a strong December. Retail sales edged up 0.1 percent, following a gain of 0.5 percent (originally up 0.5 percent). Analysts projected a 0.1 percent rise.Import Prices rose a...
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By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
See the current mortgage rate update for Thursday 2/7/2013!  My question is- are we seeing the start of higher inflation with an improvement in jobs and housing prices, and rents, spiking up! Go to my web site at www.myslohomefinder.com for all the San Luis Obispo County home search needs. The Day Ahead: Jobless Claims           A favorable but very slowly favorable trend is evident in initial jobless claims which are down 5,000 in the February 2 week to 366,000. This level is a bit higher than the 360,000 Economist consensus but when averaged out, points to month-to-month improvement. The four-week average is down 2,250 to 350,500 and is down more than 15,000 compared with early January.   Dow is trading at 13,875-111.08, the 10 yr bond is at 1.98 from 1.99 Yesterday, . Currently mortg...
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By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
  The Week Ahead: Plenty of Data     Jobs growth for January fell short of expectations but continued at a moderate pace. However, The unemployment rate reversed course a bit, rising to 7.9 percent in January from 7.8 percent the month before. Analysts expected a 7.7 percent unemployment rate. Nonfarm Payroll jobs in January continued to grow at a moderate pace, advancing 157,000, following a gain of 196,000 in December (originally up 155,000) and an increase of 247,000 in November (previously up 161,000). The net revisions for November and December were up 156,000. The market median projection was for a 175,000 rise for January. Consumer Sentiment has really picked up the last two weeks, at 73.8 for the final January reading vs 71.3 at mid-month. The reading implies that sentiment is a...
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By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
I hope that everyone has a prosperous February!  I'm wondering how long this low interest rates will be around. See my web site at www.myslohomefinder.com for all your real estate needs. The Day Ahead: Plenty of Data     Jobs growth for January fell short of expectations but continued at a moderate pace. However, The unemployment rate reversed course a bit, rising to 7.9 percent in January from 7.8 percent the month before. Analysts expected a 7.7 percent unemployment rate. Nonfarm Payroll jobs in January continued to grow at a moderate pace, advancing 157,000, following a gain of 196,000 in December (originally up 155,000) and an increase of 247,000 in November (previously up 161,000). The net revisions for November and December were up 156,000. The market median projection was for a 1...
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San Luis Obispo, CA Real Estate Professionals