Here is today's mortgage rate update for Thursday January 17, 2013.  It looks like housing is ready to lead the economy forward in the future.  Housing starts were up 12.1% for December and this follows the 4.3% increase in November.  In San Luis Obispo County here in California we need more moderate and low income building of single family property, but the fees and lack of loans for builders hurts us here. This update is brought to us by Prudential California Realty in San Luis Obispo.  Thanks to them for all their help! Visit my web site at www.myslohomefinder.com for all your San Luis Obispo County needs. The Day Ahead: Throwing More Data Against the Wall, MBS Mostly Dead   Housing is still recovering and at moderate levels of activity but December starts suggest that recovery is mo... 01/17/2013

The Day Ahead: Consumer Price Index, Industrial Production, Housing Market Index           Still lower energy costs in December kept the headline CPI soft. The Consumer Price Index in December was unchanged after declining 0.3 percent in November. The December figure matched market expectations for no change.Manufacturing in December was much better than suggested by the headline number for Industrial Production as utilities output was down sharply. Industrial production in December advanced 0.3 percent, following a 1.0 percent rebound in November (originally up 1.1 percent). Analysts projected a 0.2 percent increase for December.The new home market is stalling a bit but following eight prior months of dramatic improvement. The Housing Market Index is unchanged this month at 47, still ... 01/16/2013

Here is today's mortgage rate update.  It looks like rates are creeping up and there are some new underwriting standards coming that can only make getting a loan more difficult. See my web site at www.myslohomefinder.com for all your San Luis Obispo real estate needs. The Day Ahead: Producer Price Index, Retail Sales   Energy, food, and capital goods pulled down on the PPI in December. The Producer Price Index dipped 0.2 percent in December, following a 0.8 percent drop in November. The December figure posted lower than the consensus forecast for a 0.1 percent decrease. Consumer spending was moderately strong in December. Retail Sales gained 0.5 percent after a 0.4 percent rebound the month before (originally up 0.3 percent). Market expectations were for a 0.2 percent rise. In contrast ... 01/16/2013

Happy Monday January 14, 2013!  America is open for business again!  Actually most real estate professionals are open for business 24/7!  I got a call from a Chinese businessman this morning at 1:00 AM or the real 0 dark thirty!  He wanted to ask about a multimillion dollar apartment complex!  American property is on sale and the price is cheap compared to a lot of the world. Visit my web site at www.myslohomefinder.com for all your San Luis Obispo home needs.   The Week Ahead: Retail Sales, Housing Starts and Fed Speakers   No economic data today.   Tuesday: Producer Price Index, prior -0.8% consensus -0.1%. Retail Sales, prior 0.3% consensus 0.2%.   Wednesday: Consumer Price Index, -0.3% consensus 0.0%. Industrial Production, prior 1.1% consensus 0.2%.Housing Market Index,prior 47 con... 01/14/2013

I have been conducting a poll of all the real estate professionals out there.  My question to them- If you are a real estate agent should you take the brokers test? And go out on your own? I  have talked to broker associates, brokers, and real estate agents to see if they felt it was worth it to go out on your own.  One of my mentors whose team sells over 100 properties a year told me he never wants to be a broker because he doesn't want the headaches, and he doesn't think it pays. So please respond to this blog with what your experiences are, and what you think of the idea? Also would you recommend the profession to someone looking for a career? I will compile all the responses into a blog! Thanks, MIke 01/11/2013

It looks to me like rates are creeping up!  Is inflation coming back?  If anyone is on the fence, they need to get that refi or purchase going! See my web site for all your San Luis Obispo home needs www.myslohomefinder.com   The Day Ahead: Nothing exciting           The U.S. trade balance in November widened sharply even as exports gained. Imports surged with new iPhones playing a key role. The trade deficit expanded to $48.7 billion from $42.1 billion in October.Import prices continue to remain very soft, down 0.1 percent in December for a minus 1.5 percent year-on-year rate.The Export Prices are more of the same with total prices down 0.1 percent following a 0.7 percent decline in the prior month.   Dow is trading at 13,469-2.82, the 10 yr bond is at 1.91 from 1.90 Yesterday, . Curre... 01/11/2013

Rates are slightly worse than yesterday.  I just wonder when the rates will start creeping up with inflation! Visit www.myslohomefinder.com for all your real estate search needs in San Luis Obispo County. The Day Ahead: First Economic Data of the Week,   The January 5 week is a holiday shortened week but it didn't make for an extreme move for Jobless Claims which rose a modest 4,000 for a second week to 371,000 vs a revised 367,000 in the prior week. After swinging severely due to Hurricane Sandy as well as holiday factors, the four-week average may be settling down, up 6,750 to 365,750. This level is down more than 15,000 from early December, but making a comparison is iffy given a very strong storm effect in the month-ago average.   Dow is trading at 13,384-5.72, the 10 yr bond is at ... 01/10/2013

Good morning to all!  Thanks for all the great comments on my blog post with the super quote from the Roman historian and poet Cicero.  The times change but human nature stays constant over the centuries! See the quote below! See my web site for all your San Luis Obispo County needs www.myslohomefinder.com   The Day Ahead: Decision Time for Broader Bond Markets           Demand data in the weekly petroleum report are soft, contributing to a run of builds in the January 4 week. Oil inventories rose 1.3 million barrels to 361.3 million and remain extremely heavy, classified as well above their upper limit. Very large builds were posted for both gasoline, up 7.4 million barrels, and distillates, up 6.8 million. Inventories for both products, especially gasoline, have been building sharply ... 01/09/2013

  Do any of you ever feel deja vu!  I read the quote from the Roman historian and poet Cicero.  See the quote below.  As many of you already know, I am an exteme deficit hawk.  If our government can't live within its means than it should cut spending!   Well the same problems we see today have been face by others in the past.  Just look at the history of empires that have failed in the past from the British to the Roman.  They all have something in common like an over expansion of military both in spending and far, extended bases that could not be maintained.  A wellfare state that made it so many didn't have to work.  Arrogance of public officials that stay in office for their life time, like some members of our congress, and who are so out of touch with the people that they are not tr... 01/08/2013

Good morning to all!  We still have interest rates that are so low!  I am seeing demand really picking up and several offers on properties here.  Short sales and foreclosure numbers are dropping like a rock.  And the ones we do have they are getting several offers, up to 7 in one case, and the buyers have to be aggressive!  It really makes you wonder if we are going to see more inflation in the future.   The Day Ahead: No Real Economic Data, Bond Markets Search for Guidance   Dow is trading at 13,329-54.72, the 10 yr bond is at 1.87 from 1.90 Yesterday, . Currently mortgages areslightly better from Yesterday   Conv. - 3.375% FHA. -  3.25%             Buy real estate now!  Prices are going up!!!   01/08/2013

We have the most recent mortgage rate update!  This is brought to us by Prudential California Realty in San Luis Obispo California.  Check out my web page at www.myslohomefinder.com for all your San Luis Obispo County real estate search needs. The Week Ahead: Sparse Economic Data Leaves Focus on Auctions, Tradeflows         Today: No economic data Tuesday: No economic data Wednesday: 10yr Note Auction Thursday: Jobless Claims, prior 372K  consensus 362K Friday: International Trade, prior $-42.2B  consensus $-41.1B. Import prior -0.9%  consensus 0.1%and Export Prices, prior -0.7%  consensus         -0.1%. Treasury Budget, prior $-172.1B  consensus $-20.0B   Dow is trading at 13,363-72.72, the 10 yr bond is at 1.90 from 1.94 Friday, . Currently mortgages areunchanged from Friday   Conv. -... 01/07/2013

Here is the weekend mortgage rate update for San Luis Obispo real estate.  Visit my web site at www.myslohomefinder.com for all your San Luis Opispo real estate needs. The Day Ahead: Job reports, increased bond yields   There were some positives in the latest jobs report. The unemployment rate held steady at 7.8 percent in December. Market expectations were for a 7.8 percent unemployment rate. Nonfarm Payroll jobs in December were as expected, gaining 155,000 following an increase of 161,000 in November (originally up 146,000) and a ruse of 137,000 in October (previously up 138,000). The net revisions for October and November were up 14,000. Analysts forecast a 155,000 rise for November. A price swing lower for fuel held back Factory Orders in November which are unchanged. Non-durable o... 01/06/2013

We still have low rates, and it's time to refi or buy! See my web site at www.myslohomefinder.com for all your San Luis Obisop home search needs. The Day Ahead: Employment Data, FOMC Minutes, Post-Cliff Range Trade           ADP's Employment shows very significant strength in private payrolls with the December estimate at 215,000 which is above the top end of Econoday's consensus range. Also a big positive is a big upward revision to ADP's count for November which is 148,000 for a 30,000 upward revision.Seasonal factors continue to skew Jobless Claims data which for the December 29 week show a 10,000 rise to a larger-than-expected total of 372,000. The improvement in the prior week is now revised away with a sizable 12,000 upward revision to 362,000.FOMC Minutes later today Dow is tradi... 01/03/2013

Congress finally acted and placed a bandaid on the problem!  My New Years' resloution was to work for change to the system to replace those that don't really represent the best interest of our nation. See my web site for all your San Luis Obispo real estate needs www.myslohomfinder.com   The Day Ahead: Markets Respond to 11th Hour Fiscal Cliff Deal   The final December reading for the PMI Manufacturing Report is a very solid 54.0, up a solid 1.2 points from November's 52.8. Any reading over 50 indicates monthly growth in general business activity with December's higher reading indicating a greater rate of growth than November. In fact, 54.0 is the strongest final reading since May. ISM's Manufacturing composite index shows only marginal growth in general activity, at 50.7 which however ... 01/03/2013

Most areas of the country are reporting a large drop in inventory.  I read an excellent article from Dr. Housing Bubble.com that talks about  the reasons and the future.  This is a must read and has some super points.   The disappearing housing inventory – US housing inventory down over 50 percent from 2008. 5 million Americans not paying their mortgage or are in the foreclosure process. Supply and demand.  A basic fundamental point of any course in introductory economics.  With housing most people go with what they see.  Distressed inventory is a silent issue because you really do not know how deep problems are in a certain area unlike a home that is listed for sale with a big red sign in the front lawn.  Yet we know that over 10,000,000+ Americans are currently underwater on their mor... 01/01/2013

I want to wish all my readers a Super and Happy New Years! I hope that we all have a properous New Year! God Bless!   01/01/2013

We want to wish a Happy New Years to all! 12/31/2012

  Well someone is buying those San Francisco Mansions!  How would you like to make the commssion on some of the following sales.  Thanks to Bloomberg for the great article. San Francisco's Mansion Discounts Luring Tech Millionaires Dan Levy in San Francisco at dlevy13@bloomberg.net Jeff Paster, a developer of luxury homes in California’s Marin County, couldn’t find a buyer for the brand-new waterfront mansion he listed in January for $45 million. He’s expecting that one will turn up at an auction this weekend, with a starting bid set at $25 million. “People at this income level always have money,” Paster said in an interview at the 15,000-square-foot (1,400-square- meter) residence on Belvedere Island, a tony enclave north of San Francisco that’s known for views of the downtown skyline ... 12/30/2012

We have today's mortgage rate update.  This is brought to us by Prudential California Realty in San Luis Obispo California.  Check out my web site at www.myslohomefinder.com for all your home search needs in San Luis Obsipo County.   The Day Ahead: Closed Door Cliff Meetings Ahead of Sunday House Session   The fiscal cliff isn't helping employment, a risk hinted at in this month's otherwise upbeat MNI Chicago PMI Report where the headline is further over 50 at 51.6 for a 1.2 point gain from November to indicate accelerating growth in month-to-month business activity. The outlook for the housing market continues to improve with the Pending Home Sales Index for November rising a solid 1.6 points to 106.4. Aside from gains during the tax credit year of 2010, the current reading is the high... 12/28/2012

Are we going to fall off the fiscal cliff?  Well I have my Cabernet Sauvignon, from my favorite winery Daou Winery located in Paso Robles California, on ice.  We are just watching to see the effects.   Go to my web site www.myslohomefinder.com for all your San Luis Obispo Country home search needs!       The Day Ahead: Moderate Economic Data, Fiscal Cliff Headline Potential           It's hard to get a clear picture on Jobless Claims, but the trend seems to be favorable. Claims fell 12,000 in the December 22 week to a lower-than-expected level of 350,000. But this level appears to be largely a guess since the gathering of the latest data was severely limited by this week's holidays on both Monday and Tuesday, which forced the Labor Department to make estimates for an enormously large nu... 12/27/2012