Every year, an estimated 250,000+ new cases of cancer affect children under the age of 20 worldwide. Mann Mortgage has teamed up with Heartfelt Heroes to raise awareness and funding toward treatment, research & ultimately a cure for childhood cancer. For each loan that closes in the month of October, we will donate $25. We can all be heroes fighting cancer.
We are proud to represent Mann Mortgage in Kicking Cancer, a fundraiser for pediatric cancer.
SUNDAY, OCTOBER 23, 2016 | 3:00– 5:00PM
CHIMERA GOLF CLUB
901 OLIVIA PARKWAY
HENDERSON, NV 89011
· $40 per player | $25 per child
· includes 9 holes of foot golf + dinner
· Junior footgolfers receive a Kicking Cancer T-Shirt
· proceeds go towards pediatric cancer foundation
· SIGN UP NOW FOR EARLY BIRD REGISTRATION
|"If you've got the money, honey, I've got the time." Lefty Frizzell. Gas prices edged higher recently, but consumers aren't necessarily feeling a pinch because overall inflation remains tame. While retail prices are trying to woo shoppers, receipts aren't racking up.
Despite oil hitting its 2016 high in the U.S., wholesale and consumer inflation remain tame. The March Producer Price Index (PPI) and Core PPI, which strips out volatile food and energy, both fell 0.1 percent. On the consumer side, price increases did not reach expectations, with the Consumer Price Index (CPI) and Core CPI only rising 0.1 percent.
The cost for housing, medical care and cigarettes edged higher, but these were offset by lower costs for clothing, furniture and used cars. On an annual basis, CPI and Core CPI also were below expected increases.
While price tags remain in check, consumers spent less than expected last month at department stores, clothing outlets and restaurants, further cementing the notion that economic growth slipped in the first three months of 2016. March Retail Sales fell 0.3 percent versus the 0.1 percent expected. Stripping out autos, sales were up 0.2 percent, only half of what was expected. Plus, March saw the biggest decline in demand for autos in a year.
On the home loan front, rates remain just above historic lows.
If you or someone you know has any questions about current rates or home loan products, please don't hesitate to email or call me.
|Last Week in Review|
|"They always call him Mr. Touchdown." Rudy Vallee. While the U.S. posted some positive numbers on the economic scoreboard this week, Mario Draghi, president of the European Central Bank (ECB), called defensive plays to ward off deflation in the Eurozone.
Americans filing for first-time unemployment benefits fell to a five-month low, the Labor Department reported, signaling ongoing strength in the job market. Although this was the only U.S. report of the week, economic news headlines from around the world held investors' attention.
Across the Atlantic, the ECB announced additional measures to ward off deflation in the Eurozone, including near zero interest rates for bank lending and deposits. The ECB move followed a similar path taken by Japan in January to reboot its economy. Certainly, these plays will be topic for conversation when Federal Reserve Chair Janet Yellen and her team take a time out to gather for the March 15 and 16 meeting of the Federal Open Market Committee here at home. As the Fed weighs in on our economic recovery, further rate increases could put the U.S. at odds with other major currencies, hitting exports and manufacturing where it hurts.
For now, the economy is still scoring for low home loan rates. In fact, rates continue to hover in historic territory.
If you or someone you know has any questions about the housing market, current rates or home loan products, please don't hesitate to email or call me.
|"Give me a job, give me security. Give me a chance to survive." Styx. February job creation was something to sing about. But lackluster wage growth might not provide the financial security workers hope for.
In February, 242,000 jobs were created, well above the 190,000 expected, the Labor Department reported. Plus, December's and January's numbers were revised higher. The Labor Force Participation Rate also ticked up to 62.9 percent, the highest since January 2015, while the Unemployment Rate remained at 4.9 percent (which is near what the Fed considers full employment).
Despite this positive news, wage growth is still a concern, falling -0.1 percent from January. Year-over-year wage growth rose a modest 2.2 percent from February 2015 to February 2016.
In housing news, January home prices, including distressed sales, rose 6.9 percent from January 2015, according to CoreLogic, a leading provider of property information and analytics. On a month-over-month basis, prices were up 0.5 percent from December 2015 to January 2016. Looking ahead, CoreLogic has forecasted a 5.5 percent increase from January 2016 to January 2017.
Finally, home loan rates continue to hover just above all-time lows, which is great for homebuyers and homeowners considering a refinance.
If you or someone you know has any questions about home loan products and rates or refinancing, please don't hesitate to email or call me. (702) 850-1000
|Last Week in Review|
|"This could be the start of something new." Vanessa Hudgens and Zac Efron. Across the country, builders are still breaking ground on new homes, though the number has declined thanks, in part, to Mother Nature. The good news is that more than one million homes are waiting to be built.
January Housing Starts hit a three-month low. Starts, which measure the beginning of excavation on a home's foundation, fell 3.8 percent from December to an annual rate of 1.099 million units. This was lower than the 1.171 million expected. All four major regions across the country saw declines, but a big East Coast snowstorm caused a halt in some late-month construction in the area. In line with expectations, January Building Permits, a sign of future construction, hit 1.202 million units.
In other news, key regional manufacturing data from New York and Philadelphia continues to paint a bleak picture with yet another month of contraction. The sector is still being weighed down by a stronger dollar and weak overseas demand, which are plaguing expectations of future business conditions for the first half of this year.
Finally, the January Core Consumer Price Index (CPI), which is an inflation measure that strips out volatile food and energy, rose 0.3 percent. This was the largest gain since August 2011. Year-over-year, Core CPI rose by 2.2 percent, the largest increase since June 2012. Blame rising rents and higher medical costs.
Why is this important? Inflation has been a non-issue for many years. If January's increase becomes a trend rather than a one-time pop in inflation, home loan rates could move higher. Rates are tied to Mortgage Bonds, and inflation reduces the value of fixed investments like Bonds.
For now, home loan rates remain near historic lows.
If you or someone you know has any questions about home loans or refinancing, please don't hesitate to contact me. (702) 850-1000