Sente Mortgage – Friday Mortgage Update 3/8/13

Sente Mortgage Friday Mortgage Update
		Mortgage News for the week ending 03-08-13:
		Good economic news this week lifted the Dow stock index to a record level, but it also pushed mortgage rates higher. As promised, the unemployment statistics were the biggest market mover this week. Mortgage rates climbed on the days leading up to Friday’s Employment report and rose even higher after the figures were released. Against a consensus forecast of 170K, the economy added 236K jobs in February. The Unemployment Rate declined from 7.9% to 7.7%, the lowest level since December 2008.The growth in the labor market is a major component of a broader improvement in the US economic outlook. For the housing sector, the positive economic news increases the ability and the willingness of people to buy homes. The downside is that stronger economic growth generally causes mortgage rates to rise.
		Upcoming News for next week:
		The Producer Price Index (PPI) focuses on the increase in cost of materials used by companies to produce finished products and will come out on Thursday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Friday. CPI looks at the price change for those finished goods which are sold to consumers. Retail Sales will be released on Wednesday. Retail Sales account for about 70% of economic activity.  If the inflation reports show continued low inflation, mortgage interest rates will probably react favorably and vice versa.  Higher retail sales numbers have an adverse effect on mortgage interest rates.
					Total Monthly Payment FactorsThe following factors are a quick and easy way to estimate (+ / – $50) total monthly mortgage payments based on sales price. Multiply the sales price times the factor for an estimate of total monthly payment including property taxes, insurance, and mortgage insurance. If your customer has a target payment amount, simply divide the desired payment by the factor to determine the sales price. (Factors based on 720 mid-credit score)  Conventional: 95% LTV = .0078 90% LTV = .0075 80%LTV = .0069   FHA: 96.5% LTV = .0078   VA: 100% LTV = .0075
		Sente Mortgage is an Equal Housing Lender. Information is subject to change without notice. This is not an offer for extension of credit or commitment to lend.
Pam Jamison			Rachel Mikulec
Mortgage Banker			Mortgage Banker
NMLS# 277012			NMLS# 456061
mobile/text 512.775.1001			mobile/text 512.284.0580
Pam.Jamison@SenteMortgage.com			Rachel.Mikulec@SenteMortgage.com
fax 512.532.6688www.PamJamison.com			Fax 512.637.9901www.BrownHolland.com

Sente Mortgage

901 S. Mopac, Building IV, Suite 125

Austin, TX 78749

main 512.637.9900

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