Archive for May, 2010

Roland John “Hash” Hochhalter Memorial Video

Posted: May 28, 2010 in Uncategorized

Link to Obituary below.

Link to Video


Daily Commentary Report for 05/27/10

Posted: May 27, 2010 in Uncategorized

Thursday’s bond market has opened down sharply following a strong rebound in stock prices. The stock markets are rallying around overseas news, pushing the Dow up 205 points and the Nasdaq up 57 points. The bond market is currently down 37/32, which will likely push this morning’s mortgage rates higher by approximately .500 of a discount point.

Today’s only important economic data was the first revision to the 1st quarter Gross Domestic Product (GDP). It showed that the economy grew at an annual rate of 3.0% during the first three months of this year. This was a decline from the previous estimate of 3.2% and even lower than forecasts of 3.3%. That means that the economy was not as active as many had thought, which is good news for bonds and mortgage rates. However, the data is being ignored due to the stock volatility.

Also posted this morning were weekly unemployment figures from the Labor Department. They announced that 460,000 new claims for unemployment benefits were filed last week, down from the previous week but a little higher than what analysts had expected. But since this data tracks only a week’s worth of new claims it usually does not influence mortgage rates unless it varies greatly from forecasts.

Today’s economic data was actually favorable for bonds, but due to the shift from safety (reverse of the recent flight to safety), funds are moving out of bonds and back into stocks this morning. As stocks spiraled lower following concerns about the global economy and the financial issues overseas, investors moved money into bonds as a safe-haven from the stock selling. That led to lower mortgage rates over the past two weeks. However, if those concerns continue to ease as they have showed this morning, we could be in for more increases to mortgage rates in the very near future. Accordingly, please maintain contact with your mortgage professional if still floating an interest rate.

There is also today’s 7-year Treasury Not auction that deserves our attention. This sale is a little longer term than yesterday’s 5-year Note sale and closer to mortgage-related bonds. Therefore, its results may influence mortgage rates this afternoon if the sale was met with a particularly weak or strong demand from investors. With today’s active bond selling, it is difficult to expect a strong sale, so I would not rely on this event to improve mortgage rates later today. The results of the sale will be posted at 1:00 PM ET, meaning any impact it will have on rates will come sometime after that.

Tomorrow morning brings us the release of two relevant economic reports. April’s Personal Income and Outlays data is the first and will be posted at 8:30 AM ET. It gives us an indication of consumer ability to spend and current spending habits. An increase in income means that consumers have more money available to spend. Since consumer spending makes up two-thirds of the U.S. economy, this data can cause movement in the financial markets and mortgage rates. Current forecasts are showing a 0.4% increase in income and a 0.3% rise in spending. Weaker readings would be considered good news for bonds and mortgage rates, but I would not be surprised to see the stock markets take center stage yet again tomorrow.

The second report of the will come from the University of Michigan who will update their Index of Consumer Sentiment for May. It is forecasted to show a small increase from this month’s preliminary reading of 73.3. A reading above 73.7 would be considered negative for bonds. This data is less important to the mortgage market than the Personal income and Outlays report is, so look for it to be a non-factor in tomorrow’s pricing unless the stock markets are calm and the first report matches forecasts.

If I were considering financing/refinancing a home, I would…. Lock if my closing was taking place within 7 days… Lock if my closing was taking place between 8 and 20 days… Lock if my closing was taking place between 21 and 60 days… Lock if my closing was taking place over 60 days from now…

Sunset Rate Pulse 9

Posted: May 24, 2010 in Uncategorized

Bryce C. Elder
Sunset Mortgage
Mortgage Consultant
10365 SE Sunnyside RD. # 340
Clackamas, OR 97015
503-594-1130 Direct
503-594-1122 Fax
971-212-4655 Cell

Loan Application Link<–enter referral code “508”

WA Lic. # MLO-91030

Oregon ML-137

Washington 520-CL-30540

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From: Bryce Elder []
Sent: Monday, May 24, 2010 1:29 PM
To: Bryce Elder
Subject: Sunset Rate Pulse 9


Bryce’s Weekly Mortgage Interest Rate Pulse



Last week, the Senate passed S. 3217, the "Restoring American Financial Stability Act of 2010," by a vote of 59-39, sending it to Conference Committee, where members of both chambers of Congress will work to reconcile this bill and House passed bill H.R. 4173, the "Wall Street Reform and Consumer Protection Act of 2009."

This is really going to suck for us Mortgage Brokers, and will also give the consumer less choice, and restrict further and industry already being choked by reactionary legislation such as HVCC.

Let’s be vocal about this. We mortgage guys could really use some help from our realtor buddies on this. If you’d like to help, here’s how to get organized about it:


Find and Contact Your Senator

Feel free to forward this to your friends and co-workers and have them Subscribe here


Weekly Interest Rate Poll: Results of 250 Opinions on Rate Direction from Lenders Across the US


Lock Advice Within Estimated Closing Date:


Weekly Mortgage Market Survey from Freddie Mac

If you think this is helpful info, please forward it to your co-workers! I’d love to help them too!

Subscribe to my service here It’s REALLY easy! Just put in your name and email address, and you’ll get this every week!

If you’d like to get a current client pre-approved, send them here:
Secure Online Loan Application (Referral Code 508)


Bryce C. Elder

Sunset Mortgage Co.
10365 SE Sunnyside Rd. Ste. 340
Clackamas, OR 97015

971-212-4655 C
503-594-1130 OD
503-594-1122 F

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New Radar out

Posted: May 20, 2010 in Uncategorized check the link!

Daily Commentary Report for 05/10/10

Posted: May 10, 2010 in Uncategorized

Monday’s bond market has opened down sharply following news that the European Union has agreed to a bailout for Greece. The news has helped erase concerns about the global economy that the situation brought and fueled a stock market rally that has the Dow up over 410 points and the Nasdaq up 102 points. The bond market is currently down 33/32, which will likely push this morning’s mortgage rates higher by approximately .375 of a discount point.

As I mentioned a couple times last week, the recent rally in bonds was likely short-lived. The move upward for rates is almost always much quicker than the downward move. Today’s reversal in stocks and bonds may not be complete if we don’t get bad news from other countries. With no relevant economic data on tap tomorrow, I am expecting this afternoon’s momentum in stocks to extend into tomorrow’s morning trading. If we close the day with a bigger bond loss than we are seeing currently, the selling may push tomorrow’s bond market lower also. That would likely translate into another increase to mortgage rates tomorrow morning.

There are four pieces of relevant economic news scheduled for release this week in addition to two important Treasury auctions. There is no relevant data due to be posted today or tomorrow, so expect the stock markets to continue to influence bonds and mortgage rates until we get to the week’s important events.

March’s Goods and Services Trade Balance report will be released early Wednesday morning. This report gives us the size of the U.S. trade deficit but likely will not have much of an impact on the bond market or mortgage pricing. It is expected to show a $40.0 billion trade deficit, but it is the least important of this week’s data and likely will have little impact on Wednesday’s mortgage rates.

The Treasury will hold a 10-year Note sale Wednesday and a 30-year Bond sale Thursday. Results of the auctions will be posted at 1:30 PM ET each day. If they are met with a strong demand from investors, we could see bond prices rise enough during afternoon trading to cause downward revisions to mortgage rates. However, lackluster bidding in the sale could lead to higher mortgage pricing those afternoons.

The remaining three economic reports will be released Friday morning. This is when we will get April’s Retail Sales data (highly important), April’s Industrial Production (moderately important) and May’s University of Michigan’s Index of Consumer Sentiment (moderately important).

Overall, it likely will be another active week for mortgage rates. Besides the week’s important economic news, look for the stock markets to be a major influence on trading. The most important day of the week is Friday with three reports on the agenda, including the sales data. But today’s volatility does not come as a surprise and may actually end up making today the most active day of the week if Friday’s data does not reveal any significant variances.

If I were considering financing/refinancing a home, I would…. Lock if my closing was taking place within 7 days… Lock if my closing was taking place between 8 and 20 days… Lock if my closing was taking place between 21 and 60 days… Lock if my closing was taking place over 60 days from now…