Hey Team!

Hope this week is off to great start for you all.

The mortgage market took-one-on-the-chin this morning when the Labor Department reported prices paid at the farm and factory gate jumped more than double the 0.8% gain most analysts had been expecting.  The headline November producer price index was up a surprising 1.8% while the core index (a value stripped of the more volatile food and energy components) posted a larger-than-expected 0.5% gain.  The lion’s share of the surge in the November producer price index figures was created by a strong uptick in energy costs and new model year price increase for light trucks.  Crude oil prices hit $82 a barrel during the survey period for this data but has since retreated sharply – trading around $70 a barrel as I write.   Near record excess manufacturing capacity and a jobless rate that is projected to average 10% for much of 2010 will likely prevent suppliers from passing on these increasing costs through at least the end of the first-quarter of the New Year. 

     Mortgage investors are taking a cautious “wait-and-see” approach in front of the last Federal Open Market Committee meeting of 2009.  The text and tone of the Committee’s post-meeting statement (scheduled for release at 2:15 p.m. ET, Wednesday, December 16^th) will contribute significantly to the trend trajectory of mortgage interest rates up and through the Christmas break.  

Any hint that the central bank is considering backing off of its asset purchase programs, or perhaps mulling an increase in its benchmark short-term interest rates will likely send mortgage interest rates notably higher.  While it is worth noting this risk exists – the probability of such an outcome is exceptionally low. 

Today’s Urban Austin Mortgage Rates:
30yr fixed- 4.625% 0+1.25
15yr fixed- 4.125% 0+1.25
FHA/VA- 4.75% 0+1.25
USDA 100% financing- 4.75% 0+1.25

*These low rates are ONLY offered through Urban Austin Mortgage. The application process is FREE, simple and you can receive an approval in just a few hours. Let’s get to work!

Respectfully,

D. Stephen Steakley, Jr.
Austin, Texas Home Loan Expert
512-577-8898 ph
Austin, TX Home Loan – Quick Application

Hope you all had a good weekend!

Trading activity has almost ground to a standstill in the mortgage market as investors choose to take a cautious “wait-and-see” approach in front of the last Federal Open Market Committee meeting of 2009. The text and tone of the Committee’s post-meeting statement (scheduled for release at 2:15 p.m. ET, Wednesday, December 16th) will contribute significantly to the trend trajectory of mortgage interest rates up and through the Christmas break.

Any hint that the central bank is considering backing off of its asset purchase programs, or perhaps mulling an increase in its benchmark short-term interest rates will likely send mortgage interest rates notably higher. While it is worth noting this risk exists — the probability of such an outcome is exceptionally low. —Larry Baer

Today’s Urban Austin Mortgage Rates:
30yr fixed- 4.625% 0+1.25
15yr fixed- 4.125% 0+1.25
FHA/VA- 4.75% 0+1.25
USDA 100% financing- 4.75% 0+1.25

*These low rates are ONLY offered through Urban Austin Mortgage. The application process is FREE, simple and you can receive an approval in just a few hours. Let’s get to work!

Respectfully,

D. Stephen Steakley, Jr.
Austin, Texas Home Loan Expert
512-577-8898 ph
Austin, TX Home Loan – Quick Application

Happy Friday, everyone!

Selling pressure in the mortgage market surged this morning driven by a report from the Commerce Department indicating November Retail Sales increased 1.3%, its largest advance since August, after rising 1.1% in October. It was the second straight monthly gain for overall retail sales and handily beat market expectations for a 0.7% gain. Compared to last year, overall retail sales were up 1.9%, the first year-on-year gain since August 2008. Excluding autos, retails sales increased 1.2% last month, the largest increase since January.

As the day progresses I look for calmer, cooler heads to conclude that a significant amount of the surge in the pace of November sales was created through heavy discounting by retailers attempting to get a head-start on the holiday season. There is still a big question mark attached to the retail sales data regarding the sustainability of November’s solid performance. Fundamentally, conditions remain poor for consumers. Wage income is more than 3.0% below its year-ago level and there is little chance of improvement in that figure until the labor sector once again begins to produce more jobs than it looses on a month-over-month basis. In a nutshell — in my judgment it is unlikely this report is as threatening to the prospects of steady to perhaps fractionally lower mortgage interest rates as many “talking-heads” are currently trying to make it out to be. —Larry Baer

Today’s Urban Austin Mortgage Rates:
30yr fixed- 4.625% 0+1.5
15yr fixed- 4.125% 0+1.5
FHA/VA- 4.75% 0+1.5
USDA 100% financing- 4.75% 0+1.5

*These low rates are ONLY offered through Urban Austin Mortgage. The application process is FREE, simple and you can receive an approval in just a few hours. Let’s get to work!

Respectfully,

D. Stephen Steakley, Jr.
Austin, Texas Home Loan Expert
512-577-8898 ph
Austin, TX Home Loan – Quick Application

Hey, Gang!

Almost Friday!

The bond market is struggling again today but pricing is doing its best to hold on. I am going to stay neutral on rate direction as tomorrow will be a transition day. Hold on tight!

Today’s Urban Austin Mortgage Rates:
30yr fixed- 4.625% 0+1
15yr fixed- 4.125% 0+1
FHA/VA- 4.75% 0+1
USDA 100% financing- 4.75% 0+1

*These low rates are ONLY offered through Urban Austin Mortgage. The application process is FREE, simple and you can receive an approval in just a few hours. Let’s get to work!

Respectfully,

D. Stephen Steakley, Jr.
Austin, Texas Home Loan Expert
512-577-8898 ph
Austin, TX Home Loan – Quick Application

My suggestion is simply: Kill the Global Mortgage Fraud; Kill the Global Banking Fraud.

This suggestion is very simple and could have a MASSIVE impact on this “Global Mortgage Fraud Scheme” if people stand up and fight. I’m no expert, but it seems to me that The Mortgage Fraud Scheme is the source propping up the Global derivative scheme. Unless I’ve been misinformed, Mortgages where “securitized” and deposited into MERS thereby facilitating & fueling the MBS & CDO markets. As you know, this “shadow market” functioned as the “labor and delivery” room assisting with the “still-birth” of massive amounts of toxic mortgage-derivatives sold globally as “AAA” securities. Since Wall Streets balance sheets are off-limits, nobody really knows the extent of the damage. Hence, Congressman Paul’s effort “Audit the Fed”. But, the general public can take advantage of documentation that’s likely “rife” with “perjury & fraud” logged into “county records” across America or even across the world depending on the laws of the state or country.

Being in a legal battle with bailout recipients myself, I’ve come to see what appears to be a real vulnerability: The Mortgage Documentation. In fact, I’m not the only person thinking on this. A special thanks to foreclosurefraud@gmail.com for putting together an excellent tutorial on HOW this scheme is being done in County Records. The tutorial was so good; I emailed a copy of this link to Mr. Karl Denninger. Karl posted the link to “market-ticker” shortly thereafter. http://market-ticker.org/archives/1513-A-Birdie-On-Possible-Foreclosure-Frauds.html (Thanks again to Karl Denninger)

As you already know, Wall Streets Derivatives and cooked books have been and are currently “papering over” and “hiding” losses easily since its done out of public view. Hence, Congressman Paul’s effort Audit the Fed. Nevertheless, according to CA Civil Statues, you must (a) SIGN, (b) NOTORIZE, and (c) RECORD documents substantiating foreclosure sale with the County Recorder. Unless I’ve been misinformed, these “securitized” loans where being passed between “pretender lenders” like a “whiskey bottle”. And all of this “undocumented”, “shadow market” activity is serving to eviscerate any “legal rights” for a “pretender lender” take possession of real property by means of a Judiciary. Why? Because getting caught committing and/or furthering fraud by a judge in court is serious and attorneys for “pretender lenders” know it! For example, an “unlawful detainer” (eviction) was filed against me and my family by an Attorney oh behalf of a ‘pretender lender’ in July of 2009. However, after filing our response in objection to the “unlawful detainer” with the court, the same Attorney for the “pretender lender” who filed the “unlawful detainer” against us, decided to pull a “total 180° about-face” by filing for dismissal, and dropping the whole case altogether. That was over 60-days ago. A counter suit was filed and a summons issued to resolve this matter.

“Pretender Lenders are audaciously seeking to be credited with a “touchdown” even though they don’t have “possession of the ball.” -EMS

Thank God for the “Challenge Flag” and “Instant replay”.

Even further, how does one prove they “own” a car in court, if they can’t produce the title?

There are a growing number of Court Rulings against these “pretender lenders” since Judges are getting ‘hip’ to the ‘scheme’: (http://www.boston.com/business/articles/2009/10/15/ibanezruling/)

If Americans can manage to turn off the Television and read, they’ll notice the “Ace-Card”, is that “Mortgage Assignments” where supposed to accompany a “security” (mortgage) through each and every step of the securitization chain, unless I’ve been misinformed. In other words, if a security was sold 4 times on the “securities market”, there should be 4 documented “Assignments of Mortgage” facilitating those “conveyances” filed in the “Primary” market otherwise known as the County Recorder’s office. Unless I’ve been misinformed, “Assignments of Mortgage” are the documented proof of “conveyance”. This documentation, along with a few others, in effect produce what is known as a “chain-of-title”; which is turning out to be “Kryptonite” to “Pretender Lenders”. This philosophy has been put forth by means of “Produce the Note” and similar strategies designed to get “imposters” to prove they own the debt they’re rabidly trying to collect. Be sure to check out: http://livinglies.wordpress.com

Wall Streets Book-Cooking worked fine in Boiler-Room operations out of public view. But in the “Primary” or Public market, declarations must be made “out in the open” and in some cases “under penalty of perjury”. This has put “imposters” and “pretender lenders” in dire straits when well-informed homeowners step up and fight.

Respectfully,

E. M. Small
A Spook who Sat by The Door

“In God we Trust, All others we monitor” –Beale AFB, CA