Bond and home loan rates showed improvement with the early part of the week.

Bond and home loan rates showed improvement with the early part of the week.

The Fed Announcement on Wednesday cut the Fed Funds rate by .25%
Typically bonds and home rate react poorly to Fed cuts due to inflation concerns but the Fed's statement hinted that the rate cutting cycle may be nearing an end and Bond and loan rate reacted favorably.
Thursday - The Core Personal Consumption Index (CPE) showed core inflation at 2.1% and just a whisker above the desired 1-2% for inflation. No market movement resulted from this report.
Friday - The Jobs report brought word of 20,000 lost jobs in April and better than the expected 75,000 lost jobs. This caused bond and home rate to worsen dramatically but after the details of the report were released with worsening prior months revisions, bond and home rates improved.
Overall, after another volatile week and when the dust settled, we saw slightly better rates.

Mortgage Market View

Don't over pay... File a property tax appeal

The National Taxpayers Union estimated 60% of home values were assessed too high resulting in higher taxes.
Contact your local tax assessors office and ask for someone in the reassessment area to inquire of starting an appeal.
Ask for a copy of your property card and review all information for accuracy.
About 33% of property tax appeals succeed.


Here is the most recent newsletter, simply click on the link below to view. Please feel free to forward this email to your clients that are interested in economic new that impacts interest rates.

http://www.mmgweekly.com/w/index.html?SID=881c6efa917cff1c97a74e03e15f43e8



Nader Chahine
Branch Manager
phone: (310) 372-8800
fax: (310) 372-6545
www.manhattanhomefinance.com
3601 Aviation Blvd #3480
Manhattan Beach CA 90266