Gloria Shulman
CenTek Capital Group
9100 Wilshire Blvd. Suite 275
East Tower
Beverly Hills , CA 90212
Phone:310-275-3202
Fax:310-247-1232
Untitled Document
MARKET UPDATE From
Gloria Shulman Centak Capital Group Mortgage Bankers & Brokers
Your Deal Must Go Through!
- Stated Income is still available for borrowers with strong credit and liquidity.
- We have access to dozens of A Paper portfolio lenders who have not been as deeply affected by recent market conditions
Mortgage Rates and Comments for the week of 10/29/07-11/02/2007
Loan Type
Maximum
Rate
Payment Per $1,000
APR
30 Yr. Fixed
$ 417,000
5.750%
$5.84
5.90%
15 Yr. Fixed
$ 417,000
5.625%
$8.24
5.88%
30 Yr. Fixed
$1,500,000
6.500%
$6.32
6.61%
15 Yr. Fixed
$1,500,000
6.125%
$8.51
6.31%
5/1 Fixed
$2,500,000
6.125%
$6.08
6.24%
7/1 Fixed
$2,500,000
6.375%
$6.24
6.49%
10/1 Fixed
$2,500,000
6.625%
$6.40
6.75%
Option ARM
$5,000,000
1.250%
$3.21
6.09%
*All Rates and Programs subject to LTV, Credit & Income Guidelines*
Index
10/29/07
Current (1 week ago)
Prime Rate
7.750% (7.75)
2 Yr. U.S. T's (3.801)
3.719%
5 Yr. U.S. T's (4.030)
3.998%
10 Yr. U.S. T's (4.391)
4.352%
30 Yr. U.S. T's (4.537)
4.649%
11 th District (4.359)
4.359%
12 Mo. Treas. Avg. (4.863)
4.863%
6 Month LIBOR (5.006)
4.832%
1 Month LIBOR (4.950)
4.793%
Please call for immediate confidential Pre-approval for you or your clients. (free)
Mortgage Market Overview
Overall, it is going to be a pretty active week for the bond market and mortgage rates. Wednesday's GDP report and FOMC Policy Statement and Friday's Employment report are the most important releases of the week. Wednesday will likely be the most important day with the GDP and FOMC meeting, but Friday's data can also lead to sizable changes in mortgage rates.
The first data will be posted Tuesday morning with the release of the Consumer Confidence Index (CCI) for the month of October. It is expected to show a small increase from last month's 99.8 reading, indicating that consumers are more likely to make large purchases in the near future. As long as the reading doesn't exceed 100.0, we will likely see the bond market react favorably to this report.
The second report of the week will be posted Wednesday morning with the release of the preliminary reading of the 3rd Quarter Gross Domestic Product (GDP). The GDP is considered to be the benchmark measurement of economic growth because it is the sum of all goods and services produced in the U.S. and is likely to have a major impact on the financial markets and mortgage pricing. Current forecasts call for an increase of approximately 3.1% in the GDP.
Tuesday Oct. 30 Consumer Confidence (Oct.) the market expects confidence to dip slightly with an index reading of 99.5, down from 99.8 in Sept
Wednesday Oct. 31 Announcements:
Crude Inventories
GDP Q3
FOMC Policy Statement - look for a 0.25% rate cut following a two-day meeting that begins Tuesday
Thursday Nov. 1 Initial Jobless Claims for the week ending 10/27/07- the weekly measure of individuals registering for first time unemployment benefits is expected to report at 330K, down from 331K the week ending 10/20
Friday Nov. 2 Unemployment Rate (Oct.) – Current forecasts call for no change in the unemployment rate of 4.7%, new payrolls up approximately 90,000 and a 0.3% increase in average earnings.
Excellent SBA and
Commercial Money
Available Centek Capital Group and Gloria Shulman are one of California 's leading mortgage bankers & brokers and have been in the business over 30 years.
PROPERTY OF THE WEEK 3656 Avenida del Sol, Studio City Marcia Glow, Hilton & Hyland, 310-404-4807
Beautiful contemporary Mediterranean sited in the hills with vies of the valley lights and tranquil canyon. This custom built four bedroom home features a dramatic high-ceiling living room, formal dining room, private balconies, romantic master suite with fireplace, and family room that opens to the patio, pool and spa. Perfect for entertaining. This special hillside property also includes a grassy yard area with trees.
Listing Price: $1,495,000
Real Estate. License ID# 01219983. DRE Information (916) 227-0931. This information is being sent to you periodically to provide financing information. If this fax was received in error, please call (310) 275-3202, (888) 283-6648 or fax at (310) 247-1232
