Walden Mortgage Group | Milestone

Walden Mortgage Weekly Newsletter: The Housing Market Update

May 11, 2011

Nonfarm Payroll Surge

Kentucky Mortgage Information

Nonfarm payrolls surged in April as firms added 244,000 new jobs during the month. The consensus expected payrolls to increase by only 200,000 jobs.

On top of the April gains, payrolls in February and March were revised up from 194,000 and 216,000, respectively, to 235,000 and 221,000. This marks the seventh straight monthly increase in Nonfarm payrolls. Most view this report as much more valuable than the Unemployment Rate.

It is no coincidence that we have seen some stronger than expected monthly gains in Existing Home Sales because demand for housing is, of course, directly tied to jobs.

What Happened to Rates Last Week

Kentucky Mortgage Information

Mortgage backed securities (MBS) gained +275 basis points last week which helped to push 30 year fixed rates to close at their lowest levels since November 2010. Why the big decrease in mortgage rates? Well, its another Greek tragedy. Greece is part of the P.I.I.G.S (Portugal, Ireland, Italy, Greece and Spain). The P.I.I.G.S are viewed by all the rating agencies as having a higher potential to default on their debt compared to the rest of the European Union (EU). In fact, Greece has already had one major bailout from the IMF and the EU. U.S. Treasuries and Mortgage Backed Securities had huge gains last week due to wide speculation that Greece would need another bailout and there were even reports that they threatened to leave the EU.

What to Watch Out For This Week

The following are the major economic reports that will hit the market this week. They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages. We will be watching these reports closely for you and let you know if there are any big surprises:

Date	ET	Release	For
10-May	8:30	Export Prices ex-ag.	Apr
10-May	8:30	Import Prices ex-oil	Apr
10-May	10:00	Wholesale Inventories	Mar
11-May	7:00	MBA Mortgage Index	6-May
11-May	8:30	Trade Balance	Mar
11-May	10:30	Crude Inventories	7-May
11-May	14:00	Treasury Budget	Apr
12-May	8:30	Initial Claims	7-May
12-May	8:30	Continuing Claims	30-Apr
12-May	8:30	PPI	Apr
12-May	8:30	Core PPI	Apr
12-May	8:30	Retail Sales	Apr
12-May	8:30	Retail Sales ex-auto	Apr
12-May	10:00	Business Inventories	Mar
13-May	8:30	CPI	Apr
13-May	8:30	Core CPI	Apr
13-May	9:55	Mich Sentiment	May

It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the Kentucky mortgage and housing markets. Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

April 20, 2011

By Walden Mortgage Group

Foreclosures Filings Hit 3-Year Low

U.S. foreclosure filings fell in the first quarter to the lowest level since early 2008 amid an ongoing backlog following last year’s halt in activity, according to a RealtyTrac report on Thursday.

Default notices, scheduled auctions and bank repossessions were reported on 681,153 properties, down 14.8 percent from the previous quarter and a drop of 26.9 percent from the first quarter of 2010.

It was the lowest level of foreclosures since the first quarter of 2008.

Nevada maintained the highest U.S. state foreclosure rate as one in every 35 homes had a foreclosure filing. California alone accounted for nearly a quarter of overall foreclosure activity.

Foreclosures add supply to a housing market that already has too much inventory available which helps to keep home prices down. But with very strong home sales over the past quarter and reduced foreclosures, the table is set for home prices to stabilize.

What Happened to Rates Last Week

Kentucky Mortgage Information

Mortgage backed securities (MBS) gained +90BPS last week which pushed 30 year fixed rates downward. We had a very volatile week where we saw rates increase as well as decrease. Most of our gains occurred on Friday on the weaker than expected Consumer Price Index (CPI) data. CPI is a measure of inflation and mortgage rates react very closely to inflationary news. However, the longer term trend is still pointing towards higher mortgage rates as the very closely watched 100 day moving moving average continues its march towards higher pricing.

What to Watch Out For This Week

Date	ET	Release	For
18-Apr	10:00	NAHB Housing Market Index	Apr
19-Apr	8:30	Housing Starts	Mar
19-Apr	8:30	Building Permits	Mar
20-Apr	7:00	MBA Mortgage Purchase Index	15-Apr
20-Apr	10:00	Existing Home Sales	Mar
20-Apr	10:30	Crude Inventories	16-Apr
21-Apr	8:30	Initial Claims	16-Apr
21-Apr	8:30	Continuing Claims	16-Apr
21-Apr	10:00	Philadelphia Fed	Apr
21-Apr	10:00	Leading Indicators	Mar
21-Apr	10:00	FHFA Housing Price Index	Feb

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

April 12, 2011

By Walden Mortgage Group

Apartment Vacancies Fall; Rents Climb

Housing affordability is a big part of the housing picture. When it is cheaper to rent, then people tend to rent more. When rents start to climb, it is a precursor to stronger demand for housing.

The vacancy rate for U.S. apartments posted a steep decline in the first quarter and rents crept higher as the job market improves. The quarterly vacancy report showed the vacancy rate dropped to 6.2 percent in the first three months of the year, down from 6.6 percent in the fourth quarter. It was the steepest fall since the commercial real estate research firm began tracking the market in 1999.

New York had the nation’s lowest vacancy rate, 2.8 percent, and its highest average rental, $2,794 a month. At the opposite end of the spectrum, Memphis, Tennessee had the nation’s highest vacancy rate, 11 percent. The average rent there was $634 a month.

What Happened to Rates Last Week

Kentucky Mortgage Information

Mortgage backed securities (MBS) lost -92 basis points from Monday’s open to Friday’s close which helped to drive up 30 year fixed mortgage rates which react in the opposite direction.

This was primarily due to two factors: First, the safety premium or “fear factor” of Japan, Libya and other geo-political concerns were reduced (MBS trade better on global fears). Second, The European Central Bank raised their interest rates and financial markets began to consider the fact that economic growth in the U.S. will soon trigger some moderate inflation (MBS do not like inflation).

What to Watch Out For This Week

Date	ET	Release	For
12-Apr	8:30	Trade Balance	Feb
12-Apr	8:30	Export Prices ex-ag.	Mar
12-Apr	8:30	Import Prices ex-oil	Mar
12-Apr	14:00	Treasury Budget	Mar
13-Apr	7:00	MBA Mortgage Index	8-Apr
13-Apr	8:30	Retail Sales	Mar
13-Apr	8:30	Retail Sales ex-auto	Mar
13-Apr	10:00	Business Inventories	Feb
13-Apr	10:30	Crude Inventories	9-Apr
13-Apr	14:00	Fed’s Beige Book	Apr
14-Apr	8:30	Initial Claims	9-Apr
14-Apr	8:30	Continuing Claims	2-Apr
14-Apr	8:30	PPI	Mar
14-Apr	8:30	Core PPI	Mar
15-Apr	8:30	CPI	Mar
15-Apr	8:30	Core CPI	Mar
15-Apr	8:30	Empire Manufacturing	Apr
15-Apr	9:00	Net Long-Term TIC Flows	Feb
15-Apr	9:15	Industrial Production	Mar
15-Apr	9:15	Capacity Utilization	Mar
15-Apr	9:55	Mich Sentiment	Apr

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

April 5, 2011

By Walden Mortgage Group

Pending Home Sales Surprise to the Upside

Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said Monday, pointing to a modest pick-up in home sales.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in February, increased 2.1 percent to 90.8. Economists had expected the index, which leads existing home sales by a month or two, to fall 1.0 percent after a previously reported 2.8 percent decline.

“We may not see notable gains in existing-home sales in the near term, but they’re expected to rise 5 to 10 percent this year with the economic recovery, job creation and excellent affordability conditions providing confidence to buyers who have been on the sidelines,” said NAR chief economist Lawrence Yun.

What Happened to Rates Last Week

Kentucky mortgage

Mortgage backed securities (MBS) gained +10 basis points from Monday’s open to Friday’s close. We had a very volatile week with rates moving upward or downward every other day. This was in reaction to several different economic reports which gave us mixed signals about our economic expansion. We ended the week on a positive note as Unemployment dropped to 8.8% and we saw some more growth in the Non-Farm Private Payroll numbers.

What to Watch Out For This Week

Date	ET	Release	For
5-Apr	10:00	ISM Services	Mar
5-Apr	14:00	Fed Minutes	15-Mar
6-Apr	7:00	MBA Mortgage Index	1-Apr
6-Apr	10:30	Crude Inventories	2-Apr
7-Apr	8:30	Initial Claims	2-Apr
7-Apr	8:30	Continuing Claims	26-Mar
7-Apr	15:00	Consumer Credit	Feb
8-Apr	10:00	Wholesale Inventories	Feb

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

March 28, 2011

By Walden Mortgage Group

Survey: U.S. Economy Over the Worst

In another sign the American economy is on the comeback trail, a new survey from KPMG shows optimism is improving among U.S. manufacturing and service industry executives. Executives in both key sectors say the worst is behind us.

The survey shows 68 percent of manufacturing executives believe business activity will be higher in the next 12 months. That’s up from 57 percent in October.

Forty-one percent of those same executives say they plan to hire more in the weeks and months ahead. That number was just 28 percent five months ago.

As far as revenue is concerned, 65 percent of manufacturers surveyed by KPMG expect revenues to rise in the next year.

This is of course, more good news for the housing sector. As employment levels increase, so does demand for housing.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) lost -65 basis points from Monday’s open to Friday’s close which helped to move mortgage rates upward. Mortgage Backed Securities (and mortgage rates) moved back into a more reasonable level after the Treasury Department announced that they would begin the process of selling their vast $1.25 trillion MBS portfolio into the open market. Also, fears over Japan started to wane in the financial sectors which helped to remove a “fear factor” premium in MBS.

What to Watch Out For This Week

Date	ET	Release	For
28-Mar	8:30	Personal Income	Feb
28-Mar	8:30	Personal Spending	Feb
28-Mar	8:30	PCE Prices – Core	Feb
28-Mar	10:00	Pending Home Sales	Jan
29-Mar	9:00	Case-Shiller 20-city Index	Jan
29-Mar	10:00	Consumer Confidence	Mar
30-Mar	7:00	MBA Mortgage Index	25-Mar
30-Mar	7:30	Challenger Job Cuts	Mar
30-Mar	8:15	ADP Employment Change	Mar
30-Mar	10:30	Crude Inventories	26-Mar
31-Mar	8:30	Initial Claims	26-Mar
31-Mar	8:30	Continuing Claims	19-Mar
31-Mar	9:45	Chicago PMI	Mar
31-Mar	10:00	Factory Orders	Feb
1-Apr	8:30	Nonfarm Payrolls	Mar
1-Apr	8:30	Nonfarm Private Payrolls	Mar
1-Apr	8:30	Unemployment Rate	Mar
1-Apr	8:30	Hourly Earnings	Mar
1-Apr	8:30	Average Workweek	Mar
1-Apr	10:00	ISM Index	Mar
1-Apr	10:00	Construction Spending	Feb
1-Apr	15:00	Auto Sales	Apr
1-Apr	15:00	Truck Sales	Apr

Mortgage Back Securities are the only thing government and conventional mortgage rates are based upon. That is why we are happy to monitor the live trading of these for you as it’s extremely difficult to keep track of the economy and other factors that impact Kentucky mortgage and housing markets.

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

March 21, 2011

By Walden Mortgage Group

Vast Majority of Americans Favor Home Ownership

Despite a historic real-estate market upheaval that sent foreclosure rates skyrocketing and home values plummeting, Americans still have a deep attachment to homeownership. Furthermore, they consider homeownership an integral part of an American Dream in which they still believe, according to poll results announced today by The Allstate Corporation (NYSE: ALL) and National Journal.

The eighth quarterly Allstate-National Journal Heartland Monitor Poll revealed that nearly nine out of 10 homeowners say they would buy their homes again. That percentage held true even among homeowners who said their home values had declined. Seven of 10 Americans say they would advise a friend or family member to find a home as a long-term asset. However, while homeownership is perceived as a good personal decision, there is much greater uncertainty about whether expanding homeownership should be a government priority.

Although only 35% of respondents expect their personal financial situations to improve over the next year, three-fourths of those surveyed said it is still possible for people like them to achieve the American Dream, which the poll defined as the ability to advance as far as their talents will take them and live better than their parents did. A total of 59% said they currently are living the American Dream. Respondents identified owning your own home as one of the most critical parts of the American Dream, second only to raising a family.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) gained +53 basis points from Monday’s open to Friday’s close which helped to move mortgage rates down slightly. Mortgage Backed Securities shrugged off numerous economic reports that showed growth in the U.S. (which normally hurts mortgage rates) as international investors poured money in our system due to the continued global concern over the events in Japan.

What to Watch Out For This Week

Date	ET	Release	For
28-Mar	8:30	Personal Income	Feb
28-Mar	8:30	Personal Spending	Feb
28-Mar	8:30	PCE Prices – Core	Feb
28-Mar	10:00	Pending Home Sales	Jan
29-Mar	9:00	Case-Shiller 20-city Index	Jan
29-Mar	10:00	Consumer Confidence	Mar
30-Mar	7:00	MBA Mortgage Index	25-Mar
30-Mar	7:30	Challenger Job Cuts	Mar
30-Mar	8:15	ADP Employment Change	Mar
30-Mar	10:30	Crude Inventories	26-Mar
31-Mar	8:30	Initial Claims	26-Mar
31-Mar	8:30	Continuing Claims	19-Mar
31-Mar	9:45	Chicago PMI	Mar
31-Mar	10:00	Factory Orders	Feb
1-Apr	8:30	Nonfarm Payrolls	Mar
1-Apr	8:30	Nonfarm Private Payrolls	Mar
1-Apr	8:30	Unemployment Rate	Mar
1-Apr	8:30	Hourly Earnings	Mar
1-Apr	8:30	Average Workweek	Mar
1-Apr	10:00	ISM Index	Mar
1-Apr	10:00	Construction Spending	Feb
1-Apr	15:00	Auto Sales	Apr
1-Apr	15:00	Truck Sales	Apr

Mortgage Back Securities are the only thing government and conventional mortgage rates are based upon. We are happy to monitor the live trading of these for you as it’s extremely difficult to keep track of the economy and other factors that impact Kentucky mortgage and housing markets.

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

February 28, 2011

By Walden Mortgage Group

Housing Picture Continues to Brighten

Kentucky Mortgage

Existing Home Sales continued their upward climb in January. This is the fourth month in a row where we have seen month-over-month gains in the number of units sold. The National Association of Realtors reported that sales rose 2.7% from December. Also, the inventory levels decreased again

Kentucky Mortgage

The number one reason that the housing market tanked was due to over supply. So, with national and Bluegrass home sales increasing and inventory levels decreasing, this is certainly a trend with some momentum. All cash sales and distressed sales did increase last period. But any way that the excess inventory is gobbled up is good. It certainly shows that the demand is there and that investors are snapping up properties before prices rise. Maybe you should too?

What Happened to Rates Last Week

Kentucky Mortgage

Mortgage backed securities (MBS) gained +83 basis points last week which caused 30 year fixed rates to move lower. We had a series of stronger than expected economic reports such as Consumer Confidence, Existing Home Sales and Durable Goods Orders. Normally, this positive economic data would have moved mortgage rates higher. However, mortgage backed securities (and therefore mortgage rates) benefitted from continued concern over the stability of the Middle East. U.S. Treasuries and other bonds such as mortgage backed securities saw strong demand as a pure safety play.

Date	ET	Release	For
28-Feb	8:30	Personal Income	Jan
28-Feb	8:30	Personal Spending	Jan
28-Feb	8:30	PCE Prices – Core	Jan
28-Feb	9:45	Chicago PMI	Feb
28-Feb	10:00	Pending Home Sales	Dec
1-Mar	10:00	Construction Spending	Jan
1-Mar	10:00	ISM Index	Feb
1-Mar	15:00	Auto Sales	Mar
1-Mar	15:00	Truck Sales	Mar
2-Mar	7:00	MBA Mortgage Index	25-Feb
2-Mar	7:30	Challenger Job Cuts	Feb
2-Mar	8:15	ADP Employment Change	Feb
2-Mar	10:30	Crude Inventories	26-Feb
2-Mar	14:00	Fed’s Beige Book	Mar
3-Mar	8:30	Initial Claims	26-Feb
3-Mar	8:30	Continuing Claims	19-Feb
3-Mar	8:30	Productivity-Rev.	Q4
3-Mar	8:30	Unit Labor Costs – Revised	Q4
3-Mar	10:00	ISM Services	Feb
4-Mar	8:30	Nonfarm Payrolls	Feb
4-Mar	8:30	Nonfarm Private Payrolls	Feb
4-Mar	8:30	Unemployment Rate	Feb
4-Mar	8:30	Average Workweek	Feb
4-Mar	8:30	Hourly Earnings	Feb
4-Mar	10:00	Factory Orders	Jan

It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets. Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter: The Housing Market Update

February 14, 2011

By Walden Mortgage Group

Proposed Housing Overhaul Will Increase Rates

The Obama administration released their ideas on how to overhaul Fannie Mae, Freddie Mac and the Federal Housing Administration. Currently, all three issue mortgage backed securities that are backed or guaranteed by you the tax payer. This gives these securities very low risk and has great appeal to foreign investors that seek low risk. This is why your mortgage rates are still historically very low.

However, the proposed changes will enable the government to ease away from being such a big player in the mortgage business, moving from 95% of the total market down to as low as only 40% of the total market. By doing so, rates will naturally adjust upward to equalize with the new risk levels. These proposed changes will take a long time to pass and to be put into effect, so take advantage of today’s low rates and loan programs now while housing prices are still very affordable.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) lost -42 basis points last week which caused 30 year fixed rates to move higher and closed at their highest levels of 2011. As we have discussed several times, mortgage rates are pushed lower when the economy is performing poorly and their is little to no risk of inflation. So, as the economy continues its upward march out of the recession, mortgage rates are pushed upward on the stronger growth and inflationary concerns. We had a couple of strong economic reports last week. The weekly Initial Jobless Claims were much lower than expected and Wholesale Inventories saw stronger gains. Both were positives for the economy and therefore negative for mortgage rates.

What to Watch Out For This Week

Date	ET	Release	For
15-Feb	8:30	Retail Sales	Jan
15-Feb	8:30	Retail Sales ex-auto	Jan
15-Feb	8:30	Empire Manufacturing	Feb
15-Feb	8:30	Export Prices ex-ag.	Jan
15-Feb	8:30	Import Prices ex-oil	Jan
15-Feb	9:00	Net Long-Term TIC Flows	Dec
15-Feb	10:00	Business Inventories	Dec
15-Feb	10:00	NAHB Housing Market Index	Feb
16-Feb	7:00	MBA Mortgage Purchase Index	11-Feb
16-Feb	8:30	Housing Starts	Jan
16-Feb	8:30	Building Permits	Jan
16-Feb	8:30	PPI	Jan
16-Feb	8:30	Core PPI	Jan
16-Feb	9:15	Industrial Production	Jan
16-Feb	9:15	Capacity Utilization	Jan
16-Feb	10:30	Crude Inventories	12-Feb
16-Feb	14:00	Fed Minutes
17-Feb	8:30	CPI	Jan
17-Feb	8:30	Core CPI	Jan
17-Feb	8:30	Initial Claims	12-Feb
17-Feb	8:30	Continuing Claims	5-Feb
17-Feb	10:00	Leading Indicators	Jan
17-Feb	10:00	Philadelphia Fed	Feb

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter

January 10, 2011

By Walden Mortgage Group

Employment Picture Brightens

Demand for housing is fueled by consumer confidence levels. And nothing impacts those levels more than how consumers feel about the job market. We had three major releases last week that gave us a better understanding of the employment picture.

First up were the Challenger Job Cuts report. This measures the number of layoffs announced by corporations. They reported that layoffs decreased by 34% in December. Next up was the ADP Private Payroll report. They measure non-farm and non-government hiring. This report showed a gain of 297,000 jobs in December which was one of the strongest increases on record. Lastly, the Labor Department reported that the national Unemployment Rate declined from 9.8% to 9.4% which is the lowest reading in 1 1/2 years.

While we certainly still have a lot of ground to make up in the job market, the above news is good for housing and certainly mirrors last month’s gains in both Existing Home Sales and Pending Home Sales.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) moved sideways last week but we certainly did see some big swings in mortgage rates during the middle of the week. The very strong ADP Private Payroll data pushed mortgage rates upward on Wednesday but rates moved backed down after Friday’s Unemployment report.

What to Watch Out For This Week

Date	ET	Release	For
11-Jan	10:00	Wholesale Inventories	Nov
12-Jan	7:00	MBA Mortgage Purchase Index	7-Jan
12-Jan	8:30	Export Prices ex-ag.	Dec
12-Jan	8:30	Import Prices ex-oil	Dec
12-Jan	10:30	Crude Inventories	8-Jan
12-Jan	14:00	Treasury Budget	Dec
12-Jan	14:00	Fed’s Beige Book	Jan
13-Jan	8:30	Initial Claims	8-Jan
13-Jan	8:30	Continuing Claims	1-Jan
13-Jan	8:30	PPI	Dec
13-Jan	8:30	Core PPI	Dec
13-Jan	8:30	Trade Balance	Nov
14-Jan	8:30	CPI	Dec
14-Jan	8:30	Core CPI	Dec
14-Jan	8:30	Retail Sales	Dec
14-Jan	8:30	Retail Sales ex-auto	Dec
14-Jan	9:15	Industrial Production	Dec
14-Jan	9:15	Capacity Utilization	Dec
14-Jan	9:55	Mich Sentiment	Jan
14-Jan	10:00	Business Inventories	Nov

Mike Dunn, Holleigh Sharp & Jeff Sharp

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Walden Mortgage Weekly Newsletter

January 2, 2011

By Walden Mortgage Group

Pending Home Sales Jump

Contracts for pending sales of previously owned U.S. homes rose much faster than expected in November. This follows last week’s surprise gain in existing home sales. A pending home sale is when a contract has been signed between a buyer and a seller but the home has not yet closed.

The National Association of Realtors reported a rise of 3.5% in November, economists had expected an increase of only 2%. Once again, we are seeing a little stronger than expected demand which has been following a very clear pattern of strength over the past four months.

What Happened to Rates Last Week

Kentucky Mortgage - What Happened To Rates Last Week

Mortgage backed securities (MBS) gained +86 basis points from Monday’s open to Friday’s close causing 30 year fixed rates to decrease from the previous week. We had several very strong economic reports such as Initial Jobless claims and Chicago PMI. Normally, the strength in these economic reports would have pressured National and more importantly Kentucky mortgage rates higher. But traders parked their funds into the safe and boring world of mortgage backed securities before the end of the year which helped mortgage rates temporarily.

What to Watch Out For This Week

Date	ET	Release	For
3-Jan	10:00	Construction Spending	Nov
3-Jan	10:00	ISM Index	Dec
4-Jan	10:00	Factory Orders	Nov
4-Jan	14:00	FOMC Minutes
4-Jan	15:00	Auto Sales	Jan
4-Jan	15:00	Truck Sales	Jan
5-Jan	7:00	MBA Mortgage Purchase Index	31-Dec
5-Jan	7:30	Challenger Job Cuts	Dec
5-Jan	8:15	ADP Employment Change	Dec
5-Jan	10:00	ISM Services	Dec
5-Jan	10:30	Crude Inventories	1-Jan
6-Jan	8:30	Initial Claims	1-Jan
6-Jan	8:30	Continuing Claims	25-Dec
7-Jan	8:30	Nonfarm Payrolls	Dec
7-Jan	8:30	Nonfarm Private Payrolls	Dec
7-Jan	8:30	Unemployment Rate	Dec
7-Jan	8:30	Hourly Earnings	Dec
7-Jan	8:30	Average Workweek	Dec
7-Jan	15:00	Consumer Credit	Nov

We know that purchasing a Bluegrass home is very stressful and Mortgage Back Securities are the only thing government and conventional mortgage rates are based upon. That is why we are happy to monitor the live trading of these for you as it’s extremely difficult to keep track of the economy and other factors that impact mortgage and housing markets. As always, if there is anything that we can do to help please contact us!

Mike Dunn, Holleigh Sharp & Jeff Sharp

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