Treasuries opened higher this morning on speculation that Greece will be unable to avoid a debt default. Later this morning, the National Association of Home Builders will be releasing their April housing market index which is expected to be unchanged. S&P just revised the U.S. long-term outlook from a stable rating to negative…mortgage-backed bonds initially sold off approximately a quarter point from this morning’s open.
This week was Military Families Week! In observance of the hard work that our military and their families do, we wanted to share some helpful information about great places to live and work after the military. There was an article published this week on AOL’s Jobs section talking about 10 great cities for veterans. It looks at features such as the job market, accessibility to military support and services, cost of living, education, and local tax laws, among other things. Advantages of a VA Loan For military families who are thinking about purchasing a home, there are also great programs and tax benefits available. According to IRS website, members of the miliary have until April 30th to claim the Homebuyer Tax Credit, which is an $8,000 tax credit or 10% of the home purchase price – whichever is smaller. Repeat buyers are eligible for a $6,500 credit or 10% of the purchase price. In addition, VA Loans have other advantages such as no down payment options and a streamlined process. Here is the summarized list of the best cities for veterans. Please check out the full article on AOL Jobs. The Top 10 Cities for Veterans: Austin, Texas Fayetteville, North Carolina Jacksonville, North Carolina Waco, Texas Oklahoma City, Oklahoma College Station-Bryan, Texas Harrisburg- Carlisle, Pennsylvania San Angelo, Texas Madison, Wisconsin Pittsburgh, Pennsylvania You can read the full article here – http://jobs.aol.com/articles/2011/04/12/top-10-cities-to-find-a-job-after-the-military/?icid=maing-grid7|main5|dl11|sec1_lnk2|55881 Please leave us a message with your thoughts!
Treasuries and mortgage bonds are higher this morning after U.S. consumer prices, excluding food and fuel, increased less than predicted in March. This data points to contained inflation and increased speculation that the economy is still on shaky ground.
Bonds are opening up this morning on concern that Greece may have to restructure their debt. They rallied further following the U.S. jobless claims report which showed that first time claims for unemployment insurance came in higher than expected last week.
Treasuries and mortgage bonds are down from yesterday’s close as retail sales increased for the ninth straight month which points to a recovering economy. Also weighing on Treasuries is today’s looming $21 billion Treasury auction of 10-year notes.
Treasuries and mortgage bonds are higher this morning as further earthquakes struck Japan. The Treasury will start this week’s auction activity today with the sale of $32 billion in 3-year notes, followed by the sale of $21 billion in 10-year notes tomorrow and $13 billion in 30-year bonds on Thursday.
There are no economic releases today, but later this week $66 billion of Treasury auctions will take place. Some of the key releases this week include, retail sales, producer and consumer price indices.
With an impending government shutdown looming, many banks and mortgage lenders fear they may not be able to close home loans that are currently in their pipeline.
Democrats and Republicans are still trying to figure out how to avoid a government shut down…they have until midnight tonight to come to an agreement on the budget cuts. In economic news, all that is on the docket is the February wholesale inventories which is expected to be unchanged.
Bonds opened relatively unchanged this morning and then subsequently dropped following a decline in the initial job claims report. In other news, the European Central Bank raised their rates by .25 percent in an effort to curb inflation. That decision came not long after Portugal put in a request for a bailout, which estimates say could reach $130 billion, and also at a time when many countries are in need of capital.