Brentwood TN Real Estate and Homes

On Friday, the Labor Department reported that 200,000 jobs were created in December, with 212,000 private job gains offsetting modest losses in government jobs. Adding to the positive spin of the report was the Unemployment Rate falling to 8.5% from a previously reported and upwardly revised 8.7% reading. In Williamson County TN, Brentwood and Franklin especially, the unemployment rate is 5.6%!!

While people being removed from the labor force are skewing this unemployment number to some degree, it's important to note that the U-6 unemployment rate dropped a few ticks as well, to 15.2%. This number includes ALL unemployed individuals, including those "marginally attached" to the labor force, who are either 'discouraged' and haven't sought work recently, as well as those folks working part-time who really desire full-time jobs.

Overall the Jobs Report was a modestly positive reading on the labor market. We still have 5.6 million people unemployed for 27 weeks or more, and that number is little changed this month. But the big takeaway today is that the trend is improving.

The other big takeaway is that bad news out of Europe helped balance out the good Jobs news here at home...allowing Bonds and home loan rates to recover from their initial negative reaction to the Labor Department's report. The Euro is continuing to be weighed down by rising concern on member countries' ability to get their deficits in order and their debt in manageable position.

The bottom line is that the problems in the Eurozone are vast, complicated, and without easy solutions…so it will take a very long time for clear resolution. And during times of global uncertainty, money will flow into the relative safe haven of the US Dollar and US Bonds - including Mortgage Bonds, which home loan rates are tied to. This means that home loan rates should continue in their sideways trend and remain near historic lows, making now a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients.

The second half of the week features several important economic reports:

• The Fed's Beige Book will be released on Wednesday. This is a report on economic conditions from the 12 Federal Reserve District Banks around the country.
• Initial Jobless Claims will be released on Thursday. Last week's number fell by 15,000 to 372,000 and the report signaled that the labor market could be turning the corner to greener pastures.
• Retail Sales will be released on Thursday and will be closely watched by both investors and traders. Last week, it was reported that retailers saw better-than-expected revenues for same-store sales in December, but the numbers were achieved by big discounts. Sales on Black Friday were robust, but fell off in the ensuing weeks during December. So the markets will be watching closely for the final numbers this week.
• The first look on Consumer Sentiment for January will be released on Friday.

In addition to those reports, the Treasury Department will sell a total of $66 Billion in government securities on Tuesday, Wednesday, and Thursday. Those auctions could impact the markets, depending on how they're received. So, I'll be watching the results - and their impact - closely.

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 remain near their record best levels. I will be monitoring this closely in the weeks ahead.

There's an App for That New Year's Resolution!

Making It Happen, Part 2

In last week's View article, we focused on 5 steps to achieving your New Year's Resolutions. Those steps included: setting realistic goals, making a simple plan for each goal, announcing your goals, tracking and celebrating your progress, and avoiding the urge to give up if you have a setback.

Luckily, you're not on your own to work through those steps. That's because there are a number of social media websites and smart phone applications designed to help you.

Obviously, popular apps like Facebook and Twitter can help you announce your goals, hold yourself accountable, and receive supportive feedback from friends and family members. But there are a number of additional resources that you may not know about.

Here are just 5 social media sites and apps that can help you set your New Year's resolutions…and stay on track!

1. Tweet Reminders. Twitter is great for connecting with people and sharing news instantaneously. But did you know it's also a great way to remind yourself about tasks? Need a reminder to go to the gym… or to call those past clients? No problem. Visit the Tweet Reminders site, and then enter your Twitter username and up to 5 tasks or reminders. You can even pick a date and time. Then, Tweet Reminders will send you a direct message on Twitter to remind you about them. It's both an easy and helpful thing to do.

2. Moteevate. Regardless of whether your goal is big or small, this site has the inspiration, energy, and advice you need to reach it. With moteevate, you get support from people you already know as well as advice from experts in the field - all while being surrounded by people looking to achieve similar goals. You can even moteevate in teams and act as moteevators for each other. The site also includes cool trackers to record your progress and milestones. Plus, you can customize the privacy settings to keep your goals to yourself or share them with others. And best of all, the basic platform is free to use with the caveat that you pay whatever you want after you achieve your goal. In fact, this honor system is the only thing old-fashioned about moteevate.

3. Toodledo. This is a businessperson's dream app. You've no doubt seen a To-Do list before…but this app kicks it up a notch! Not only does it help you easily organize your tasks and set alarms, but it also allows you to collaborate with other people and establish sub-tasks to work towards your goal in small steps! Plus, Toodledo can be used on your mobile phone, in your email, on your calendar, and even integrated directly into your web browser. So you can stay on track from anywhere…and at any time.

4. StickK. The basic principle of this app is that "incentives get people to do things." So if you really want to achieve a goal - whether it's personal or professional - it's time to put your money where your mouth is. Basically, stickK allows you to create a Commitment Contract focused on achieving a specific goal. As part of the process, you set your goal and timelines, stakes, referee who will monitor your progress, and supporters who will cheer you on. If you achieve your goal in your timeframe, you don't lose the stakes you wagered. But - the best part is - even if you don't achieve your goal, the money you wagered goes to a worthy cause or charity that you designate. So it truly is a win-win situation!

5. GymPact. This is similar to stickK in that you put money on the line…but it's different in that you can also earn some money. You start by making a commitment that you will go to the gym a certain number of times per week (don't worry, you can change your pact any week). You also set the monetary stakes that you'll pay if you don't meet your commitment. Then, you simply use the GymPact iPhone app to check in when you go to the gym. When you meet your weekly goal, you'll be rewarded with real cash, funded by the people who didn't work out! The more days you commit, the more cash you earn. The only downside is that you need an iPhone (or an iPod Touch and a gym with Wi-Fi) to participate, since apps for other systems aren't available.

Of course, this is just the tip of the iceberg when it comes to social media websites and apps designed to help you set and achieve your goals. Best wishes to you in the coming weeks and months.

And, if your New Year resolutions involve any financial or housing matters in Nashville, Franklin or Brentwood TN that I can help with, please call or email today. I'll be happy to help out in any way that I can.

Economic Calendar for the Week of January 09 - January 13

It's been said that "the only constant is change." And we certainly saw a lot of changes in 2011. As we ring in 2012, here's a look at how 2011 ended, and what lies ahead for TN home loan rates.

The Stock and Bond Markets were closed on Monday in observance of the Christmas holiday, and it was a fairly quiet week after that. However, there was some good news, as Consumer Confidence came in at 64.5 for December. Not only was this the third highest number reported for 2011, but this important index has jumped nearly 25 points in the past three months and now sits at its highest level since April. What's more, this report followed the recent Consumer Sentiment Index reading, which also came in at its highest level in six months.

While consumers certainly appear more optimistic here, the news hasn't been as positive out of Europe. The Euro struggled somewhat last week after just an okay performance from one of Italy's Bond auctions. While the country sold all their debt at yields slightly lower than where they were just the day prior, yields are still historically high (near 7% on 10-Year Notes) for a country that has a lot of debt to service and refinance in the coming year. In addition, Spain's government announced on Friday that the country's budget deficit will surpass 8%. Spain also unveiled new austerity measures to combat their economic and budgetary difficulties.

So what does all of this mean for home loan rates here in the U.S. in 2012? The uncertainty in Europe should continue to help Bonds and home loan rates, as investors will see our Bonds as a safe haven for their money - and remember, home loan rates are tied to Mortgage Bonds, so rates typically improve as Mortgage Bonds improve. However, continued good economic reports here in the U.S. could balance out those improvements. That's because investors will typically move their money out of Bonds and into Stocks during good economic times, so they can take advantage of gains.

The bottom line is that whatever lies ahead this year, 2012 begins with Brentwood TN home loan rates near historic lows...which makes this a great time to purchase or refinance a TN home. Let me know if I can answer any questions at all for you. Also, recently it was released that Williamson County has one of the lowest unemployment rates at 5.6%. Brentwood TN is the place to be in 2012 and I can help you get there! Call me anytime, 615-957-6333~

The Stock and Bond Markets will be closed on Monday, January 2, in observance of the New Year's holiday, but the week will be a busy one after that.

• Tuesday brings the Federal Open Market Committee Minutes from the Fed's last meeting in 2011. The Markets will be especially interested to hear what the Fed may have said about inflation.
• The ISM Services Index will be reported on Thursday. This report gives investors a gauge as to how the service sector is holding up in this economy. Individuals employed in this sector produce services rather than products. Service sector jobs provide a significant number of jobs in the US - including housekeeping, messenger services, tax preparation, nursing, and teaching.
• Also on Thursday, we'll see another weekly Initial Jobless Claims Report. It is encouraging to see that Claims remain beneath the 400,000 mark, which is a sign that the labor market is improving.
• The biggest news of the week will be Friday's Jobs Report, as the Labor Department reveals the latest unemployment figures and how many new jobs were created in December.

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 remain near their historic best levels. I'll be keeping a close eye on this as the year progresses.

Making It Happen!

Part 1: 5 Simple Steps for Achieving Your New Year's Resolutions

Each new year is full of promise and potential. Perhaps that's why so many of us choose this time of year to make positive changes in our lives.

And, believe it or not, achieving your goals can be easier than you think. The following 5 steps can help you get started and follow through!

1. Set realistic goals. The first step to your successful New Year's resolutions is to set realistic goals for the coming weeks and months. You can start by focusing on the things you're passionate about or the things you've always wanted to do. Maybe it's a worthy cause you want to become involved in…or maybe you want to kick a habit that's bothered you for years. If it's something that you're passionate about, you'll have a better chance of being successful. Once you have the topic, make sure you write down a specific, attainable goal. It's not enough to just think about doing something. Come up with a specific statement you want to achieve. For example, the most common resolution is to lose weight. But that's not specific enough. Write down exactly how much weight you want to lose and by when. But make it realistic…and healthy at the same time.

2. Make a simple plan to achieve each goal. Once you have your goals written down, take the resolution a step further by figuring out how you'll achieve it. That means breaking the goal down into simple steps that you can achieve over time. And, often, it means multiple little steps. So, for the weight loss resolution, you may write down a number of simple, daily or weekly steps - such as exercise 20 minutes three times a week, eat vegetables and fruit with each meal, switch to diet cola or better yet water during the day, and lose a certain number of pounds per month. Remember to consult a physician before starting any weight loss or exercise routine to make sure you're approaching it in a healthy manner.

3. Announce your goals. One of the best ways to make sure you stick to your goals is to make them known to your friends, coworkers, and family members. The reality is, once you've told people you'll do something, you'll feel more accountability than if you just keep it to yourself. You'll also have a cheering section to help you stay focused and positive as you work to achieve your goals. But don't just share your goals; share the specific steps that you're going to take each day or week to achieve those goals. If you use any social media websites to connect with friends and family, make your goals and steps part of your daily/weekly updates…it's a great way to get the word out and hear feedback from people who want to help you stay on track.

4. Track and celebrate your progress. Small steps aren't just about making your way to a goal; they're also about building momentum, a positive attitude, and celebrating successes along the way. There are a number of ways to track and celebrate your success. For example, if your goal is to work out 20 minutes a day three times a week, you can use a marker and a calendar. Each day you work out, simply color that day in green (or another positive color that you like). As the month unfolds, you'll see more and more green covering the calendar, which will help you see just how much work you've done and keep you motivated to keep going. In addition, you can also use social media to track and celebrate your success. Maybe you tweet or update your Facebook status every time you exercise. Or maybe you announce when you've lost a few pounds. The point is, you've already announced your goals to friends and family as a way to hold yourself accountable, now it's time to celebrate with those same people every time you achieve a step along the way.

5. Don't get discouraged. You're bound to have good weeks and bad weeks. Just because you fall off track once or twice doesn't mean you should give up. Instead, acknowledge that you had a bad day or week, figure out what happened to throw you off track (maybe it was a busy or stressful week), and then make a plan to overcome the problem if it happens again. For example, if you had a tough week at work that required you to work late and miss the trip to the gym, make a plan to be proactive the next time work gets busy. Perhaps you make a plan to walk during your lunch break or wake up early to do jumping jacks and push-ups before heading into the office. But…whatever you do…don't give up on your goals or yourself. Review your plan and recommit yourself to those simple steps. You can even use social media to acknowledge a mistake and commit to overcoming that problem in the future. That way, you'll have a new sense of accountability and support from your friends and family.

Best wishes to you in achieving all your goals and dreams this year. And if your New Year's resolutions involve any financial or housing matters that I can help with, please call or email today. I'll be happy to help out in any way that I can.

Economic Calendar for the Week of January 02 - January 06

"Whistle while you work." Snow White. That's something more people have been able to do lately, as Initial Jobless Claims have now fallen below 400,000 - a level that historically is associated with an improving job market - for five out of the last six weeks. And that wasn't the only bit of good news the markets saw last week. Read on for details.

Not only was last week's Initial Jobless Claims reading of 366,000 the lowest level since May of 2008, there was a double dose of good news in the manufacturing sector, as both the Philadelphia Fed Index and the Empire State Index were both well above expectations. Normally, good economic news causes money to move out of Bonds and into Stocks as investors like to take advantage of gains...and this would typically hurt home loan rates, as they are tied to Mortgage Bonds.

However, the continued uncertainty out of Europe helped keep Bonds and home loan rates on an improving trend, as the US Dollar and US Bonds (including Mortgage Bonds, which home loan rates are based on) are benefiting from safe haven buying. Ultimately, Europe needs to provide a large financial backstop for their banks and sovereign debt in order to fix their problems longer-term. Until this happens, uncertainty should benefit the US Dollar and US Bonds, and keep home loan rates relatively low.

One factor that we can't ignore, though, is inflation. Despite the Fed stating again last week that inflation is moderating, core consumer level inflation has continued to inch higher every month. Also, last week's Producer Price Index showed that inflation at the wholesale level was slightly higher in November. Remember, inflation is the arch enemy of Bonds and home loan rates, because if inflation rises, investors in Bonds demand a higher yield to offset the lost buying power inflation imposes on a fixed payment. And as home loan rates are tied to Mortgage Bonds, this would mean home loan rates move higher.

The bottom line is that while the uncertainty out of Europe should continue to help Bonds and home loan rates, both inflation and continued good economic reports here in the US could temper these improvements. With home loan rates still near historic lows, now remains a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients.

The Bond Markets will be closing early at 2:00 p.m. on Friday for the Christmas holiday, but the week will be busy before then.

• Housing Starts and Building Permits (Tuesday), Existing Home Sales (Wednesday) and New Home Sales (Friday) for November will be reported.
• Weekly Initial Jobless Claims will be delivered on Thursday, and the Markets will be looking to see if the reading remains under 400,000.
• Also on Thursday, we'll see the Consumer Sentiment Index for December as well as the final reading on Third Quarter Gross Domestic Product (GDP) for 2011. The second reading came in at 2%, down from the first reading of 2.5%.
• Finally, Friday the markets will see reports on Personal Income and Personal Spending along with the inflation indicator Core Personal Consumption Expenditure (PCE). Durable Goods will also be reported.

In addition to those reports, the National Association of Realtors (NAR) will announce downward revisions for Existing Home Sales over the past 5 years - and the revision is expected to be "meaningful."

Finally, the Treasury Department will sell a whopping $99 Billion in 2-, 5- and 7-year Notes on Monday, Tuesday, and Wednesday.

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, uncertainty out of Europe continues to help Bonds and home loan rates, though they are facing resistance. I'll be watching this closely as we head into the new year.

Give the Gift of Charity this Holiday Season!

It's a Snap with THE GOOD CARD^® - a Gift Card for Charity

Network for Good has a fresh angle on gifting this holiday season: The Good Card^® - a gift card for charity - is perfect for everyone on your list. Good Cards have a stored value that can be redeemed as a donation to any of more than 1.2 million charities based in the US. Good Cards can be distributed via email or physical mail, or can be private labeled to meet your brand needs. Learn more at Network for Good.

A gift card for charity is an ideal reward for employees or thank you gift for customers and vendors that links their passion for a cause to your company's brand. A new study by researchers from Harvard Business School, the University of British Columbia and the University of Liege that was recently highlighted in the Washington Post confirms that a bonus employees get to spend on others is more motivating than a bonus they get to spend on themselves. A Good Card recipient can redeem their gift card as a donation to any of more than a million nonprofits, an easy way for employees to share their personal rewards with others.

Good Card purchases, including fees, are tax-deductible to your company and are a creative way to spend funds earmarked for philanthropy. In addition, because Good Card purchases are charitable donations, they do not fall under the IRS gift limit or policies around corporate gifts with cash value. Network for Good's charity gift card program is turn-key, customizable and easy to implement - even at the last minute. The program is recommended for any company looking to put a special spin on their gift-giving this year. What's more, the person GIVING the gift (i.e., the card purchaser) gets the benefit of a tax advantage for charitable donations as well.

The Good Card is a creative and constructive way to honor partners and prospects, friends and neighbors during the holiday season and throughout the year. Visit Network for Good for more details.

Economic Calendar for the Week of December 19 - December 23

Courtesy Shane Atwell Primary Residential Mortgage 615-377-0711
Permission to republish

It's been said that "slow and steady wins the race." And when it comes to the Jobs Report for November, it seems that the labor market continues to improve at a gradual pace. Read on for the details...and what they mean for home loan rates.

Perhaps even more important, Hourly Earnings grew by just 0.1% - a number that suggests no threat of wage-based inflation. Remember, inflation is the arch enemy of Bonds and home loan rates because when inflation rises, investors in Bonds demand a higher yield to offset the lost buying power inflation imposes on a fixed payment. And as home loan rates are tied to Mortgage Bonds, this would mean home loan rates move higher. So the Hourly Earnings number was good news for Bonds and home loan rates.

Catching the markets by surprise was a rather sharp decline in the unemployment rate to 8.6%, the lowest unemployment rate we've since March of 2009. While this is good news on the one hand, part of the decline stems from the fact that 315,000 people were removed from the workforce because they totally gave up looking for work. And with 13.3 million Americans still out of work, more improvement is certainly needed here.

Similarly, the labor participation rate (which is currently hovering at a 30-year low at 64) needs to move above 66 or it will be difficult for the economy to grow fast enough to lower our budget deficit. In fact, last week Bond ratings firm Fitch issued a stern warning to the US, saying that our AAA rating will be in jeopardy if we don't soon do something to rein in our own ever-growing budget deficit.

It is good news that we're seeing some slow and steady improvement in the labor market…and coupling this with other recent positive economic signals, means we are not near a recession at the moment. But our economic health remains fragile, and any external shock from Europe could easily disrupt the economic improvement we are seeing.

The bottom line is that the uncertainty out of Europe - and the prospect of additional Mortgage Bond buying (QE3) from the Fed - should continue to support Bonds and home loan rates as they will benefit from investors looking for a safe haven for their money. However, it is also unlikely that Bonds and home loan rates will improve much further. Inflation, while not yet a problem, is still elevated…and if it continues to creep higher, this will limit any improvement home loan rates may see. With home loan rates still near historic lows, now remains a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients.

In the absence of data and with earnings season over, Stocks and Bonds will battle over investing dollars and trade off the geo-political headlines out of Europe.

• The ISM Services Index will be reported on Monday. This report gives investors a gauge as to how the service sector is holding up in this economy. Individuals employed in this sector produce services rather than products. Service sector jobs provide a significant number of jobs in the US - including housekeeping, messenger services, tax preparation, nursing and teaching.
• Weekly Initial Jobless Claims will be delivered on Thursday. This week's report comes after last week's report showed that claims rose above the 400,000 level for the first time in four weeks.
• Consumer Sentiment will be delivered on Friday to cap off the week.

In addition to that news, here's something to keep an eye on in the weeks ahead. Stocks may be set for another jump. That's because of something that's become known as the "Santa Claus Rally." The Santa Claus Rally is usually a surge in Stocks in the week between Christmas and New Years.

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 are being supported by rumors of QE3 and the continued certainty out of Europe. I will continue to watch these developments in the weeks ahead.

Holiday Spending Without an Extra Cent

Time is a precious commodity, but it's even more treasured because it is fleeting. As soon as a day, an hour, or even a minute passes, it is gone forever.

While that might be stating the obvious, it's an important concept to reflect on during the often-hectic holiday season. So this holiday season - regardless of which holiday you celebrate or if you celebrate any - remember to focus on and spend time with the people around you, including family, friends, and even coworkers or clients.

When TV personality and kid expert Art Linkletter was asked about the idea of spending time with loved ones this is what he said:

"I once asked a five-year-old what he would take with him if he were going to Heaven. He replied, 'I would take my parents because I think that up there they would have more time with me'... nuff said."

The good news is, it's actually possible to slow time down in a way that seems to lengthen special events like a day of fishing with your child or a special dinner with a good friend. The key is to consciously honor the person and the event as you experience it. To be in the moment.

In the days and weeks ahead, remember to recognize the people you care about. You don't need to do or say anything specific, nor do you need to spend any money. You simply need to spend time with them. So consider setting aside two hours one day for coffee with a friend. Or if you have children, make special plans to take each one out individually for their own dinner. You can even set aside a short amount of time each day to call some of your special clients to see how they're doing and personally wish them a happy holiday. And when you do, avoid distractions like technology or worries about what else you need to do that day.

After all, once the moment passes, you can go back to that checklist of things to do. But you can never go back to that moment in time.

Economic Calendar for the Week of December 05 - December 09

Here's How to Start the Holiday Season

This time of year is all about reflection. Taking the time to consider the blessings in our lives - from family and friends to education and opportunity. But it's also a time to renew our spirits and souls, especially as we head into the holiday season and a new year. To help you make the upcoming holiday season feel a little less hectic and more reflective, consider dedicating specific times of the day or week to family activities that focus on the blessings of the season.

The website Kaboose.com can help. It offers a wide variety of word searches, crossword puzzles, mazes, coloring pages and more that you can download and print for free. Better still, those activities are available in different levels of toughness and subjects, so you can find the right activity for your family. Use the links below to start finding holiday activities that help you celebrate the meanings behind the holidays:

• Chanukah - Download and Print Activities
• Christmas - Download and Print Activities
• Kwanzaa - Download and Print Activities
• New Year's - Download and Print Coloring Pages

Here's to wishing you and yours the very best as we head into the beautiful holiday season. If you have any questions or if there's anything I can do for you or someone you know, please just call or email. I'm always happy to help in any way I can.

Economic Calendar for the Week of November 28 - December 02

"Should I stay or should I go now?" The Clash. And last week, Greece's Prime Minister George Papandreou announced his resignation, a move seen as a way for new government to step in and implement the Euro rescue plan, thereby securing the financing necessary for Greece to avoid default. But that's not the only news story making headlines last week. Read on for the details...and what they could mean for home loan rates.

The European crisis that has been lingering for 18 months continues to develop…and it's not over yet. Lucas Papademos was named as interim Prime Minister of Greece. During his eight years with Greece's Central Bank, he helped the country achieve very strong economic growth rates. But let's not cue the sunset, happy music, and production credits just yet. Greece continues to be a very volatile situation, and continued uncertainty could once again push investors back into the US Dollar and US Bonds...helping home loan rates in the process.

In addition, as the soap opera in Greece continues, eyes have turned squarely towards Italy, whose Bonds yields have spiked on growing concern it is the next Greece. Italy is not in the same dire situation as Greece yet, but their economy is far larger--the world's 7^th largest, in fact--and a debt crisis in that region will be much more difficult to contain. To add to the Italian uncertainty, Italy's Prime Minister Silvio Berlusconi is under heavy pressure to resign for a variety of scandalous reasons.

Here at home, another story to watch came on the words from Fed Chairman Ben Bernanke, who stated that the Fed has "considerable latitude" to choose its long-term inflation goal. Although Bernanke didn't elaborate on specifics, the gist of his comment is that the Fed may tolerate higher inflation for a period of time in an attempt to help the economy recover and improve the employment sector.

Remember, the Fed is charged with a dual mandate of (1) controlling inflation as well as (2) supporting job creation. While inflation remains close to the Fed's target range, unemployment is nowhere near where the Fed would want to see it, which is between 5% and 6%. So it appears the Fed may make decisions in the future to improve employment, possibly at the slight expense to inflation.

This is important because inflation is the archenemy of Bonds and home loan rates. So any increase in inflation could negatively impact home loan rates.

The bottom line is that now remains a great time to purchase or refinance a home, as home loan rates are still near historic lows. Let me know if I can answer any questions at all for you or your clients.

The economic calendar was extremely light last week, but look out this week! The markets are set for a slew of reports that will give us a look at the economy across many sectors.

• Manufacturing news from the Empire State Index (on Tuesday) and Industrial Production (on Wednesday) will be closely watched this week for any signs of a pickup.
• After his comment last week, Fed Chairman Bernanke will be listening with both ears for any increase in inflation when the Consumer Price Index (CPI) and Producer Price Index (PPI) are released. Look for the PPI report to be released Tuesday, followed by the CPI report on Wednesday.
• Also on Tuesday, we will see how the consumer is holding up when the Retail Sales report is released.
• Rounding out the week, Initial Jobless Claims will be delivered on Thursday. Last week's report fell below the 400,000 level, which is a good sign but one week doesn't make a pattern.

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, the markets continue to be volatile, though home loan rates are still near historic lows. As always, I'll be monitoring this situation closely.

A Flu Outbreak Near You?

It's that time of year when we turn our attention to the winter season. While there are many things to look forward to such as the holidays, many of us--including you, your clients, or your friends--may also start to worry about the flu. And the cost of the season is nothing to sneeze at! Did you know that Americans spend approximately $4 Billion on over-the-counter cold and flu remedies? That's not even factoring in how much time and productivity is lost on sick-time in the workplace, or co-pays for doctor visits and prescriptions.

But now there's a way you can stay up-to-date on the latest flu information in your area.

The "Flu Near You" Website

The Children's Hospital Boston has partnered with the American Public Health Association and the Skoll Global Threats Fund to bring you the "Flu Near You" website.

On this site, any individual living in the United States who is 13 years of age or older can register to complete brief weekly surveys that may help all of us learn more about the flu. When a case is reported, the map registers a "pin" in the map-and you can even click on that pin to learn more about the symptoms or severity of the case!

Now You Can:

• See flu activity in your area at the regional or state level
• Explore flu trends around the world with Google Flu trends
• Use the "Flu Vaccine Finder" to locate nearby locations offering flu shots or nasal spray flu vaccine
• Receive customized email disease alerts at your location
• Learn more about flu news, information, and resources at flu.gov
• Check out local public health links
• Browse the Disease Daily to discover summaries of important outbreaks and expanded coverage through the Outbreaks 101 news section

The site is completely free to use. And the information on the site will be available to public health officials, researchers, disaster planning organizations and anyone else who may find this information useful. So consider registering and using this site today

Want More Local Health Information?

In addition to the Flu Near You map, the Children's Hospital Boston also administers a Healthmap that features information about other health concerns or outbreaks in your community and around the world.

So if you're concerned about the upcoming flu season or other health concerns, take a few minutes to check out the Flu Near You map and the Healthmap.

You may even want to consider passing the information on to your friends, family members, or even your clients.

Economic Calendar for the Week of November 14 - November 18

"The only things we can be sure of are death and taxes." Benjamin Franklin. And lately, volatility in the markets is another certainty...and last week was no exception. Read on to learn about the week's big newsmakers, and what they meant for home loan rates.

Friday's Jobs Report from the Bureau of Labor Statistics was a big market mover, showing that 80,000 jobs were created in October, which was just slightly below expectations. In addition, 104,000 private sector jobs were created, also just below expectations while the unemployment rate dropped to 9%, from a previous reading of 9.1%. A big positive in the report was once again upward revisions to prior month's readings, which showed 102,000 more jobs created in the two previous months than what was originally reported.

The takeaway from the report is that it doesn't appear the economy is slipping into another recession...at least not yet. The labor market continues to create jobs, but at a very slow and uneven pace. Until we see significant job growth--north of 150,000 each month, for a sustained amount of time--we won't see meaningful improvement in the economy or the unemployment rate. This turn means that rates should continue to hover at low levels, albeit in a volatile fashion.

Also limiting how high our rates can go is the ongoing European drama. The removal of the referendum (Greek Prime Minister George Papandreou had announced he would put the Euro rescue plan to a referendum or vote amongst the Greek people) is one piece of uncertainty taken away from the market--and that was a big one. However, there are still so many things that can and probably will go wrong until the European leaders put a big, realistic, attainable solution into action. For instance, Italy's Bond yields continue to inch higher, suggesting that their debt problems won't easily be solved and continue to creep towards an unmanageable state.

Plus, Fed Chairman Ben Bernanke said Wednesday during his speech after the regularly scheduled meeting of the Federal Open Market Committee that purchases of Mortgage Bonds are being considered--which is another factor that could benefit home loan rates.

The bottom line is that home loan rates are still near historic lows, which makes now a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients.

While the Stock Markets are open Friday, the Bond Market will be closed in honor of Veterans Day. And with fewer economic reports this week--and with earnings season essentially behind us-the Bond Market will take direction from a number of factors.

• The first major report will be released on Thursday when Weekly Jobless Claims are reported. Last week's report showed that weekly claims fell below 400,000 to 397,000, which was better than the 401,000 that was expected.
• The markets will also get a new read on how American consumers feel about the economy with the Consumer Sentiment Index on Friday.

In addition to those reports, the headlines coming out of Europe will continue to influence the markets here in the US, including Bonds and, as a result, home loan rates. Also, this week's Treasury auctions totaling $72 Billion could be a big market mover, depending on how they're received.

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 were able to take advantage of the decrease in Stocks last week, due in part to the uncertainty out of Europe. I'll be monitoring this situation closely in the weeks ahead.

Meals and Deals for Veterans Day!

This Friday, November 11, 2011 is Veterans Day. That means it's the perfect opportunity to honor America's veterans for their patriotism, love of country, and commitment to serve and sacrifice for the common good of the USA.

Need a few ideas of what to do? What if you could go out to eat…go to an amusement park… and much more for free or a special discount? Well, if you're a Veteran, you can!

Don't Plan Your Day Until You Read This

Believe it or not, hundreds of companies around the country offer special Veterans Day deals, including:

• Applebee's
• Chili's
• Denny's
• Golden Corral
• McCormick & Schmick's
• Subway
• Lowe's
• Home Depot
• Anheuser-Busch Parks
• National Parks
• Amazon
• Seven-Eleven
• And many, many more!

Look No Further

The best part is that you can find the details about all these deals in one place! Just visit The Military Wallet's listing for up-to-date Veterans Day free meals and discounts!

And happy Veterans Day to all the men and women who have served our country in the past…and continue to guard our nation!

Economic Calendar for the Week of November 07 - November 11

When the Fed talks, people listen. And last week, the Fed made headlines when Fed Governor Daniel Tarullo called for the Fed to engage in another round of Mortgage Bond purchases…or in other words, another round of Quantitative Easing (QE3). Read on to find out what this could mean for the housing market and home loan rates.

In order to really have an impact on housing, the Fed would have to announce something significant to get people to buy a home. Why? Because even now, with rates at historically low levels and incredible affordability levels, the sales pace in housing is tepid, due to structural problems in the labor market, which the Fed can't fix.

In fact, there is a lot to consider before the Fed starts expanding their balance sheet, and the biggest concern is rising inflation. Contrary to what the Fed has said about it moderating, year-over-year inflation is on the rise. The headline Producer Price Index (PPI) rose by a whopping 0.8% in the month of September, elevating year-over-year wholesale prices by a hot 6.9%. Meanwhile, the Consumer Price Index (CPI) for September rose by 0.3%, and while this was inline with estimates it pushed the year-over-year number to 3.9%. This is significant because the year-over-year figure was just 1.6% in January.

Remember, inflation is the arch enemy of Bonds and home loan rates. The concept is very simple: If inflation rises, investors in Bonds demand a higher yield to offset the lost buying power inflation imposes on a fixed payment. And as home loan rates are tied to Mortgage Bonds, this would mean home loan rates move higher.

And let’s not forget the ongoing drama out of Europe. French and German leaders will hold two summits in the span of four days to come up with a resolution to the European debt crisis. Whichever way this news goes could have a real effect on the markets, including Bonds and home loan rates.

With all the news to come this week, it’s still important to remember that now remains a great time to purchase or refinance a home, as home loan rates are still near historic lows. Let me know if I can answer any questions at all for you or your clients.

Look for some key reports on the housing market, which come after last week’s better-than-expected Housing Starts and the softer numbers from Existing Home Sales.

• New Home Sales are set to be delivered on Wednesday. That number has been hovering near record lows, so the markets will be anxious to see if there’s any indication of an improvement. Also this week, Pending Home Sales will be released Thursday.
• Also on Thursday, Initial Jobless Claims will be released as usual. Plus, the first reading on Gross Domestic Product (GDP) for the 3rd quarter will be released. Overall, the estimates don’t appear as if the economy is hitting on all cylinders yet.
• The markets will see how the American people are holding up in this economy with Consumer Confidence and Consumer Sentiment on Tuesday and Friday, respectively.
• Ending the week, Friday’s Core Personal Consumption Expenditure (PCE), the Fed’s favored inflation measure, is sure to garner some attention.

In addition to those reports, keep an eye on the news. One story that could gain some attention is news that the Federal Housing Finance Agency (FHFA) and the Obama administration will submit proposals to Congress to help the housing market for those homeowners who are underwater.

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 stayed in a tight range last week. I’ll be watching closely to see how the markets react to Fed Governor Tarullo’s call for QE3, the news out of Europe, and the economic reports of the week.

Don’t Say Another Word!

5 Secrets to Leaving More Effective Voice Messages

People are busy. That means, even with the wide variety of technical products developed to keep us in touch, it’s sometimes hard to get a hold of people. In those instances, we find ourselves transported back to the tried-and-true technology of the 1980s—that is, leaving a message after the beep.

Same Old, Same Old

While the technology has changed from tapes to megabytes, the basic concept of a voice message remains the same. You talk; it records; people listen.

Sadly, that’s not the only thing that’s the same. Many people still don’t know how to leave a message that provides information but also establishes a compelling reason for the listener to call back.

Use These Tips Today!

The following tips can help you be more effective and get better results with voice messages:

1. Don’t Talk So Much. You have a limited window to make your point. That means you can’t provide a lot of background information or cover multiple topics.

Before you call, make sure you have a singular focus to mention if you get the person’s voicemail. Then, highlight that important point, and leave the rest of your points for the actual follow-up discussion.

2. Focus on a Problem. To put it bluntly: People don’t want to hear about you; they want to hear about themselves.

So before you call, make sure you’ve thought about the person on the other end—including what she cares about, what she spends her time on, as well as what she wishes she could spend her time on instead. You could even try to imagine why she was busy and couldn’t answer the phone. Or imagine where she’s about to rush off to as soon as your message ends.

Based on those ideas, craft a simple, focused message that hits on ONE major problem or issue that the listener has.

3. Everyone Likes a Good Mystery. Once you’ve focused on a single overriding problem, resist the temptation to go into your sales pitch about solving it. For one thing, the listener probably doesn’t have time (or want) to listen to your pitch. For another, if you give your pitch, what reason do they have to call you back?

Instead, only allude to the idea that a solution does exist…but don’t go into detail. Leave some mystery. That’s your hook for getting them to actually call you back…because now they actually have a reason to!

Finally, state a number the person can reach you at and say you’d like to tell/give them some information by chatting for a couple of minutes. You can even give them a time frame (such as saying they can call you back by a certain day or time) to help create a sense of urgency about solving the mystery you’ve established in your message.

4. Energy and Enthusiasm. Nobody wants to listen to a person who’s boring or sounds bored.

The same is true with voice messages. After all, if you don’t have energy when talking about something, why should the listener have the energy to call you back?

So before you call, take a second to raise your energy level. Some experts recommend standing up when making a call or smiling while talking on the phone, as a way to subtly convey a pleasant, energetic tone.

5. Phone Home. It’s not enough to practice in your head. It’s not even enough to practice out loud. You need to actually leave some practice messages.

So here’s what you do: call your home phone and leave some test messages. You can even try a few different approaches. When you get home, take notes about what worked and what you want to improve. Then, try the same process the next day or even every couple of months to make sure you’re still effective.

Remember: If you don’t want to listen to yourself or don’t feel compelled to call back, then why would anyone else?

By following these tips and constantly working to improve your voice message skills, you can help increase your productivity and the number of responses you receive.

Economic Calendar for the Week of October 24 - October 28

“It’s a small world after all.” And that proved especially true last week, as our markets were impacted by news at home and news from overseas. Here are the highlights.

First, there was some good news on the economic front in the U.S. as Retail Sales for September rose by 1.1%, above the 0.6% expected and the highest increase in seven months. Remember good economic news typically benefits Stocks at the expense of Bonds (including Mortgage Bonds, to which home loan rates are tied), as investors move their money from the safety of Bonds into Stocks to try and take advantage of gains.

And good news here wasn’t the only thing that pressured Bonds and home loan rates last week. The European Central Bank (ECB) said they will announce a plan by early November for addressing the Greek debt crisis and make recapitalizing their banks a priority. As part of this plan, the International Monetary Fund is going to dedicate more resources to help the European debt crisis. A lot of money is needed to make investors feel confident that the debt crisis will be contained, so investors saw this as positive news.

So what does this mean for Bonds and home loan rates? Should the overall present optimistic tone continue, Bonds and home loan rates could face additional pressure. However, if there is pessimistic or uncertain news, investors may return to the safe haven of Bonds, meaning home loan rates could benefit. We did see a little of this trend last week when there was word that China's exports came in lower than expectations, which brought concern that global growth could continue to slow.

Either way, the volatility is sure to continue so the most important thing to remember is that now is still a great time to purchase or refinance a home, as home loan rates remain near historic lows. Let me know if I can answer any questions at all for you or your clients.

Manufacturing, inflation, and housing reports dominate the news this week:

• The manufacturing sector accounts for one-quarter of the economy, so it’s especially important during the current economic situation. This week, the New York State Empire Manufacturing Index as well as Industrial Production and Capacity Utilization will be released on Monday. Later in the week, the Philadelphia Fed Index will be reported on Thursday.
• Inflation news from the Producer Price Index (PPI) and the Consumer Price Index (CPI) will be delivered on Tuesday and Wednesday respectively. The last report on consumer inflation was a bit hotter than expected, so Bond market players will be closely watching those reports.
• Housing Starts will be reported on Wednesday and on Thursday Existing Home Sales will be delivered.
• The weekly Initial Jobless Claims report will be released on Thursday. As of last week’s report, they continue to remain above the 400,000 level.

Plus, earnings season is in full swing this week. Some big names reporting earnings are Citigroup, Bank of America, Coca-Cola, Apple, and AT&T. If the reports come in better than expected, it could push investing dollars over to the Equity markets.

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 faced pressure last week but remained above a key technical level. I’ll be watching the markets closely this week to see what happens.

The Housing and Mortgage Markets in 2012

Last week, the Mortgage Bankers Association (MBA) released its outlook for the housing and mortgage markets in 2012. Overall, the news is mixed, but there’s some good news to glean out of it. Here are three positive elements in the MBA forecast that you should know about:

1. Home Sales Steady Before Slight Increase

The MBA expects total existing home sales will stay around the 4.9 million unit pace for 2011 and 2012. But in 2013, the MBA expects home sales to increase slightly to 5.2 million units, as the broader economy recovers.

New home sales are expected to be similar to the overall trend. As the MBA stated in its release: “The recovery in the new home sales will have a comparably slow start…but will show some meaningful increases in 2013.”

2. Slight Growth in Home Purchases

Despite an expected decrease in refinances, the MBA forecasts some slight growth in the number of mortgages for home purchases. Specifically, the MBA anticipates home loans for purchases to increase to $412 Billion in 2012, which would be up from the anticipated 2011 total of $400 Billion.

Better still, the MBA expects home loans for purchases to jump significantly to $700 Billion in 2013 as the economy, home sales, and home prices are all anticipated to pick up.

3. Rates to Remain Low

Overall, fixed home loan rates are expected to remain low by historical standards. The MBA expects rates to end 2011 around a 4.5 percent average, and then possibly dropping slightly to 4.4 percent at some point in 2012. But by 2013, the MBA expects rates to climb back up to 4.9 percent – which is still low by historical standards but does indicate a change in direction.

As always, forecasts can change based on numerous factors not just in the U.S., but also in the global markets. And while the MBA forecast does contain some negative aspects for the markets, it does hold some slightly positive aspects as well.

Economic Calendar for the Week of October 17 - October 21

There aren’t a lot of economic reports in this holiday-shortened week, with the Bond Market closed Monday for Columbus Day (Stocks are open for a regular session). Be sure to look for:

• On Tuesday, the Meeting Minutes from the September Federal Open Market Committee (FOMC) meeting will be released and it could garner some attention.
• The usual weekly Initial Jobless Claims report will be released on Thursday. Last week’s initial jobless claims crept back up to just above 400,000 so it will be important to see which way this week’s numbers move.
• Investors will also be focusing in on the Retail Sales report for September, which is due out on Friday. Last Thursday it was reported that September sales for retailers, which is a separate report, were solid—showing a 5.1% year-over-year gain from the 23 largest retailers due to back-to-school sales.
• Also on Friday is the Consumer Sentiment Index, so we’ll get an idea about how consumers are feeling about the economy.

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 worsened last week due to several factors. I’ll be keeping a close eye on which way they move this week.

Anxiety and Stress Are No Match for a Good Laugh

Whether you’re stressed about a deal at work, anxious about an upcoming meeting with a client, or just feeling under the weather, laughter can be the best medicine.

But why? What really happens that makes laughing so beneficial? Doctors and scientists have some ideas about the benefits of laugher:

Stress—There’s actually a physical reason that laughter reduces stress. In addition to being a great emotional release, laughter reduces the number of stress hormones (such as cortisol and epinephrine) in your body and helps boost good hormones like endorphins.

Blood Flow—Scientists have found that blood vessels function healthily when people watch comedies, which means they expand and contract more easily and help blood flow normally. This is in stark contrast to the tightened blood vessels that were found in people after watching a drama. In short, laughter improves blood flow, which helps prevent heart attack and heart disease.

Cholesterol Levels—Recently, researchers have found that people with Type 2 Diabetes who watched funny videos for at least 30 minutes each day had better “good cholesterol” levels after just two months.

Heart and Abs—It turns out that laughing is a lot like exercising. A good laugh can increase your heart rate, exercise your diaphragm, and even contract your stomach muscles.

Calories—With the similarities between laughter and exercise, it shouldn’t come as a surprise that laughing helps you burn calories. In fact, one study found that 50 calories are burned in 10 to 15 minutes of laughter.

Immune System—There’s also evidence that laughter helps boost antibodies, making your system better prepared to fight viruses. So, a little laughter not only makes you feel better in the short term, but also can help you remain healthier in the long term.

In addition to all of these physical reactions and benefits, laughing is beneficial for your mental health too. It’s a great anti-depressant… not to mention a great way to interact with friends, family, and even clients while you strengthen your social relationships.

Economic Calendar for the Week of October 10 - October 14

“Both optimists and pessimist contribute to our society. The optimist invents the airplane, and the pessimist—the parachute.” G.B. Stern. And last week, we saw sentiment on the economy go from pessimistic, to optimistic, and back to pessimistic—all within a week! Here are the highlights of what happened.

On the optimistic side, several economic reports were better than expected. For example, New Home Sales for August were up 6.1% from a year earlier and the Case-Shiller Home Price Index rose in July from June in the 10 and 20 city survey, and was the fourth monthly gain in a row.

What’s more, there was some positive news from overseas. European leaders are designing a Special Purpose Vehicle (SPV) that would issue Bonds and purchase European debt to try to contain the malaise in that region. Plus, Germany voted in support for the expansion of the European Financial Stability Facility (EFSF), which will be used to help Euro member countries access capital. This is optimistic news, as it shows Germany is doing whatever it can to help debt laden countries avoid default and potentially threaten the Euro union.

While this mix of news was great for our economy and the global economy, the result was a "risk on trade" where investors fled the safe haven trade of Bonds and moved into Stocks to try and take advantage of gains. And since home loan rates are tied to Mortgage Bonds, when Bonds worsen home loan rates worsen as well. That’s what we saw happen in the early and middle part of last week.

But some pessimism crept back into the markets late last week as China's Manufacturing PMI contracted for a third consecutive month. There is growing fear that a slowdown in China could affect the already fragile global economy. This is a developing story and one I will be watching closely because if China’s economy does meaningfully slow, it will likely take Stocks down another level and help Bonds and home loan rates. Also creating some pessimism late in the week: Personal Income was lower than expected, and seeing earnings contract is not a good sign for the economy.

The bottom line is that now is a great time to purchase or refinance a home, as Brentwood TN home loan rates remain near historic lows. Let me know if I can answer any questions at all for you or your clients.

Can the U.S. job market get back on its feet? We’ll find out this week, along with more manufacturing news:

• On Monday, the ISM Index will be delivered, and it’s probably the most closely watched manufacturing report out there.
• Jump ahead to Wednesday to see the first labor market reading of the week with the release of the ADP Employment Report.
• Weekly Jobless Claims will be released as usual on Thursday. Last week's drop below 400,000 was welcomed by investors, but the Labor Department said the numbers were somewhat impacted by seasonal adjustment factors.
• Last but not least is Friday's Jobs Report, which includes Hourly Earnings, Average Workweek, Unemployment Rate and the closely watched Non-farm Payrolls Report. In August, there were zero jobs created, which was a major blow to the psyche of the investment world. So the markets will be watching this report closely.

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 were able to remain above a key trading level. I’ll be watching closely to see which way sentiment impacts the markets this week.

Fannie and Freddie to Increase Fees…
But What Does It Mean?

Starting in 2012, Fannie Mae and Freddie Mac are expected to increase their fees, which could impact TN homebuyers depending on the risk of their loan or the location of their home.

Here’s what you need to know – including what’s really happening and what it means to TN homebuyers.

What fee is being increased?

First, it’s important to remember that Fannie Mae and Freddie Mac do not actually make home loans. Instead, they provide financing to lenders by purchasing mortgages from those lenders. Then, Fannie and Freddie either keep those mortgages on their books or they package them (in the form of securities) for sale to investors.

That means, Fannie and Freddie don’t actually charge direct fees to homebuyers. But they do charge fees to lenders when they purchase home loans from those lenders. The lenders, in turn, build those fees into the home loans they offer. So the bottom line is that any increase in the fee that Fannie and Freddie charge lenders will essentially be passed on to consumers.

However, the fees likely won’t be increased the same amount across the board. For example, Fannie and Freddie may charge higher fees when purchasing riskier loans or they may vary the fees based on which part of the country the home is located in (taking into account things like the foreclosure rate of the location).

Why is this happening?

Fannie and Freddie were seized by the government three years ago to help protect them from failing. That’s important because Fannie and Freddie (along with other government agencies) actually guarantee about 9 out of every 10 new home loans—and with the challenges that the housing market has seen recently, those guarantees have been extremely important. However, Fannie and Freddie have also cost the taxpayers more than $140 Billion.

So Fannie and Freddie will gradually increase their guarantee fees next year and reduce the size of the home loans they purchase in an effort to:

1. Save taxpayers money and
2. Reduce the amount of government involvement (by attracting more private funding to the mortgage market)

What does this mean to TN homebuyers?

As stated above, the fees likely won’t be increased exactly the same across the board—so the impact will vary depending on the location of the home, risk of the loan, etc.

But we can look at one example to get an idea of the potential impact. For example, as the Wall Street Journal reported, if we calculate an increase of 0.1 percentage point (which is a number the White House proposed), we can see that a home loan for $220,000 would be increased by about $15 per month.

So the increase may not be very noticeable for many homebuyers. And, if people purchase a home while affordability is still high and home loan rates are still historically low, they’ll still benefit significantly compared to other times throughout history.

What should people do?

The fees are expected to begin increasing in 2012 and gradually rising thereafter. If someone you know is thinking about purchasing or refinancing their Brentwood TN Homes, there’s still time to examine the options and make a move before the fee increase becomes much of an issue.

The best advice is to explore all options now. Call or email today and I’ll be happy to answer any questions you may have.

Economic Calendar for the Week of October 03 - October 07