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Holiday Season           Season's greetings and happy New Year! I hope you've enjoyed a very happy holiday season with friends and family. I also sincerely hope you have been enjoying your complimentary subscription to the MORTGAGE MARKET GUIDE WEEKLY. Your next full issue will arrive "hot off the press" next week. In the meantime, enjoy the New Year's trivia below and share these great tidbits with your clients, colleagues, friends, and family. The MORTGAGE MARKET GUIDE WEEKLY is the industry's leading publication of this type, and I'm pleased to provide this valuable resource to you. If you feel that any of your colleagues or associates would benefit from keeping up-to-date on market and economic trends with this easy-to-read format, please let me know, and I will be happy to add them free of charge.           The Mortgage Market Guide View...       How Did You Know That? 2014 New Year's Trivia Challenge The Babylonians were the first society to observe New Year's Day around 4,000 years ago. Back then, the holiday was celebrated at the beginning of spring instead of mid-winter. And it wasn't "one night only" but festivities lasting eleven days! Here are a few more trivia tidbits to help you ring in the New Year with a little history. 1. When was the first Times Square New Year's Eve ball drop?  a. 1907  b. 1934 c. 1940  d. 1952  ANSWER: The first ball drop was organized by Adolph Ochs, the owner of The New York Times, and held on December 31, 1907. The ball itself was designed by Artkraft Strauss, and the ball drop has been held every year since, except for 1942 and 1943 due to wartime blackouts. 2. Between 1903 and 1915, what was the main New Year's Day event at Rose Bowl Stadium?  a. Football  b. Soccer  c. Chariot Races  d. Sprint Running ANSWER: In an effort to enhance New Year's Day activities, the Tournament of Roses Association decided to add a football game in 1902. The first game was Stanford University vs. University of Michigan. After Stanford lost to Michigan 49-0, the Tournament replaced football with Roman-style chariot races. Football didn't return until 1916. 3. Which of the following is NOT in the top three favorite destinations for ringing in the New Year in the United States?  a. Las Vegas b. Disney World c. New York City d. Seattle ANSWER: The top three New Year's destinations are Las Vegas, Disney World, and New York City. Seattle is actually number five, just behind Los Angeles. Wishing you a very happy New Year! Economic Calendar for the Week of December 30 - January 03 Date ET Economic Report For Estimate Actual Prior Impact Mon. December 30 10:00 Pending Home Sales Nov NA   -0.6% Moderate Tue. December 31 09:00 S&P/Case-Shiller Home Price Index Oct NA   13.3% Moderate Tue. December 31 09:45 Chicago PMI Dec NA   63.0 HIGH Tue. December 31 10:00 Consumer Confidence Dec NA   70.4 Moderate Thu. January 02 08:30 Jobless Claims (Initial) 12/28 NA   NA Moderate Thu. January 02 10:00 ISM Index Dec NA   57.3 HIGH       The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors. As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

Market News Crossline Capital Ontario California

Weekly Calendar and Market News

 

Today

 

Housing starts increased 22.7% in November, from 889k in October to 1.091mm.  This was the biggest monthly percentage gain since January 1990 and the first time since March that starts have ticked about the million mark.  Look for the FOMC announcement late today.  With 55% of people thinking the Fed will start tapering its bond purchases in December or January, things should get interesting after the announcement. 

 

Currently the 10YR Treasury is at 2.883 and FNMA 4.0’s are - 4/32.

 

U.S. Housing Starts Jump to Highest Level in Five Years - The pace of home construction reached a more than five-year high in November amid broad-based gains as builders boosted inventory to keep pace with demand.

 

Fed faces tough call on bond buying as economy strengthens - The Federal Reserve will decide on Wednesday whether the U.S. economy is finally resilient enough to withstand less policy support, or whether it is prudent to wait a bit longer.

 

Fed taper expected sooner: CNBC survey - Wall Street has tightened its view of Federal Reserve policy in the months ahead and is now looking on average for the taper, or reduction in Fed stimulus to the economy, to come in February, according to the CNBC Fed Survey for December.

 

 

Bond Market Price Trend

 

 

Weekly Calendar

 

Date	ET	Release	For	Actual	Consensus	Prior	Revised From
16-Dec	8:30	Empire Manufacturing	Dec	1	5	-2.2
16-Dec	8:30	Productivity-Rev.	Q3	3.00%	2.70%	1.90%
16-Dec	8:30	Unit Labor Costs	Q3	-1.40%	-1.30%	-0.60%
16-Dec	9:00	Net Long-Term TIC Flows	Oct	$35.4B	NA	$31.3B	$25.5B
16-Dec	9:15	Industrial Production	Nov	1.10%	0.40%	0.10%	-0.10%
16-Dec	9:15	Capacity Utilization	Nov	79.00%	78.40%	78.20%	78.10%
17-Dec	8:30	CPI	Nov	0.00%	0.10%	-0.10%
17-Dec	8:30	Core CPI	Nov	0.20%	0.10%	0.10%
17-Dec	8:30	Current Account Balance	Q3	-$94.8B	-$101.0B	-$96.6B	-$98.9B
17-Dec	10:00	NAHB Housing Market Index	Dec	58	55	54
18-Dec	7:00	MBA Mortgage Index	14-Dec	-5.50%	NA	1.00%
18-Dec	8:30	Housing Starts	Sep	873K	915K	883K	891K
18-Dec	8:30	Housing Starts	Oct	889K	920K	873K
18-Dec	8:30	Housing Starts	Nov	1091K	950K	889K
18-Dec	8:30	Building Permits	Nov	1007K	983K	1039K	1034K
18-Dec	10:30	Crude Inventories	14-Dec	-2.941M	NA	-10.585M
18-Dec	14:00	FOMC Rate Decision	Dec		0.25%	0.25%
19-Dec	8:30	Initial Claims	14-Dec		333K	368K
19-Dec	8:30	Continuing Claims	7-Dec		2760K	2791K
19-Dec	10:00	Existing Home Sales	Nov		5.00M	5.12M
19-Dec	10:00	Philadelphia Fed	Dec		5	6.5
19-Dec	10:00	Leading Indicators	Nov		0.60%	0.20%
19-Dec	10:30	Natural Gas Inventories	14-Dec		NA	-81 bcf
20-Dec	8:30	GDP - Third Estimate	Q3		3.60%	3.60%
20-Dec	8:30	GDP Deflator - Third Estimate	Q3		2.00%	2.00%