Monday, November 23, 2015

News at Mote Marine

Mote Marine is always making news in Sarasota . . . this time it is with new shark research expedition

Click Here for a link to the MySuncoast News Article.

Friday, November 20, 2015

Siesta Key Sand Sculpting

Click here for link to Event Website. 


Sand Sculpting at the Siesta Key Crystal Classic
photo from Fox 13 Local News site

Wednesday, November 18, 2015

Monday, November 9, 2015

Rates are on the rise

Team Vitale had an email today from Peggy Fowler of Equity Resources with a commentary she thought would be of interest to us all.

+++++++++++++++++++++++

Peggy's message: 
Great commentary below… I do believe rates are rising and will not be coming back down.
 
Today rates are still climbing as the 10y T Yield is now 2.344. Please don’t expect rates to drop to October 16tand prior rates. If you have clients that didn’t lock in their rates, call them now as I believe rates will keep heading “north.” I know it’s not an easy call but it’s better today than what it will be in 2-3 weeks. I do believe there will be a rate hike in December now!

 

Market Commentary

Mortgage rates continued to climb this week alongside better than expected employment numbers and testimony from Janet Yellen before Congress. Yellen suggested that December is still very much on the table for the Fed’s first rate increase.

Janet Yellen, in testimony before Congress on Wednesday, said that the FOMC suggested it could be appropriate to adjust rates in December, but also reiterated that the decision will depend on the FOMC assessment of the economic outlook based on data. The release of the Non-Farm Payrolls report on Friday, which came in much better than expected, is a strong data point that the Fed could use in justifying liftoff at the next meeting. NFP for October surprised at 271,000 jobs created, versus a 185,000 estimate, with a two month net revision of positive 12,000. The unemployment rate dropped to 5.0% from 5.1%, as expected, with wage growth also much better than expected at 0.4% versus a 0.2% estimate. This number supports Yellen’s comments that “the U.S. economy is performing well” and that domestic spending is growing at a solid pace, thus supporting the markets projection that the Fed will now more than likely increase rates in December. Traders saw a 56% chance of a rate increase in December before the jobs report, with that probability jumping to 76% shortly after the number was released.

Economic indicators other than the jobs report that met or beat expectations included Construction Spending at 0.6% versus a 0.5% estimate, ISM Manufacturing at 50.1 versus a 50.0 estimate, ADP Employment survey at 182k versus a 180k estimate, and the ISM Non-Manufacturing composite at 59.1 versus a 56.5 estimate.  Indicators that missed expectations included Factory Orders at -1.0% versus a -0.9% estimate, and Initial Jobless Claims at 276k versus a 262k estimate.

Key Market Indicators
Thursday's close
Week Ending
Week Ending
Week Ending
(11/5)
(10/30)
(10/23)
(10/16)
FNMA 3.5 Coupon
103.765625
104.125
104.375
104.421875
Dow Jones
17863
17663
17646
17215
S&P 500
2099
2079
2075
2033
Gold $/oz
1103
1142
1164
1177
30YR APOR
3.92
3.81
3.84
3.87
10 Year Yield
2.2323
2.1421
2.0866
2.0334


Our thanks to Peggy Fowler of Equity Resources for keeping us informed, so that we can better keep you informed.

Peggy Fowler | Mortgage Specialist | Equity Resources, Inc.
4426 Murfield Dr E. Bradenton Fl. 34203
Phone 941-343-7893 | Fax 941-296-8583
Email pfowler@callequity.net or pfowler@callequity.com

Wednesday, November 4, 2015

Still looking for a great deal in the Sarasota Bay area?

Be sure to check out SarasotaBayGreatDeals.com

Offered as a complimentary service by Team Vitale and updated often, it offers short sale and foreclosure listings from the MLS in both Sarasota and Manatee counties.

And feel free to contact us at 866-242-9506 with questions or for additional information. 

Tell us what you want and let us help you find it! 

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