Mortgage Pros, Inc.

Written by Rob Heidrick Thursday, 02 July 2009

Round Rock is the second fastest-growing city in the United States, according to a U.S. Census Bureau report released July 1. The city grew 8.16 percent between 2007 and 2008, second only to New Orleans, which has grown significantly in the last two years as people return to the city following the devastation caused by Hurricane Katrina in 2005.

Round Rock’s population estimate as of July 1, 2008, is 104,446, an increase of more than 7,800 since the previous year. Four Texas cities ranked among the nation’s top ten fastest-growing communities, including McKinney, Killeen and Fort Worth, and four were among the largest numerical gainers: Houston (third), San Antonio (fifth), Fort Worth (sixth) and Austin (ninth).

The July report also ranks Round Rock sixth in population growth rate since 2000, as the city posted an increase of nearly 70 percent in the eight-year period.

Posted in LOCAL NEWS | No Comments »

This weeks economic calendar is compacted into three days instead of the usual five, with no reports due out on Monday and with the markets being closed on Friday ahead of the 4th of July weekend. Tuesday information on chain sores sales from ICSC-Goldman & Redbook, the S&P Case-Shiller Home Price Index (HPI), Chicago Purchasing Manager Index (PMI), and Consumer Confidence all set to released. In addition, there is prominent Fed officials giving speeches, so investors will be paying close attention. On Wednesday, we get a glimpse of the labor market from the Monster Employment Index, Challenger Job-Cut Report and ADP Employment Report. Mortgage application information is provided by the Mortgage Bankers Association’s weekly survey. Major reports due are the ISM Manufacturing Index, Construction Spending and Pending Home Sales Index, all set for 7am pt. Then comes Thursday, when the all important June Employment Situation will be released by the Labor Department, detailing the non-farm payroll numbers, unemployment rate and average hourly earnings. To further increase the drama, Jobless Claims, Factory Orders and the Treasury’s announcement of the size 3yr, 10yr and 30yr securities to be auctioned the following week finish the short week. The amount of information in such a short time frame needed to be digested by traders can lead to extreme volatility, especially in front of a 3 day weekend. Buckle up, it may be a bumpy ride.

Posted in MORTGAGE NEWS | No Comments »

“Bond Market News and Perspective for Mortgage Professionals”

Monday, June  29, 2009

Click on link for more information 

Treasuries Advance After China Says Reserve Policy Is ‘Stable’.  Trading was quiet Monday as the Treasury market started a short work week, following a rally over the past week. China’s central bank chief over the weekend reassured investors that the world’s biggest holder of Treasurys will continue to buy dollar-denominated assets. The 10-year note’s yield, after briefing rising above 4% earlier this month, has been pushed down sharply amid the recent rally. The yield touched as low as 3.469% earlier Monday. Bonds may garner support Tuesday on quarter-end and month-end flows, traders said.