Equity futures are firmly lower this morning following a mixed session yesterday. The Dow looks to open 31 points lower at 10,507 while futures on the S&P 500 are off 4.25 points to 1,132.75. “The mood in global markets is towards risk aversion with no apparent trigger,” said Benjamin Reitzes from BMO. MND's Adam Quinones says weakness in stocks and the flight to quality into Treasuries is a factor of overnight news from Fitch Ratings that warned against a downgrade of the credit ratings of the United Kingdom, France, and Spain. Confirming that risk isn’t on the table this morning, WTI crude oil is down $1.25 to $80.62 per barrel, and Spot Gold is trading $6.32 lower at $1,117.23. As one would expect, the US dollar is stronger against a broad array of currencies. The...(read more)

Equity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1,138. Commodities are also edging slightly higher with WTI crude oil up 33 cents to $81.83 per barrel and Spot Gold up 54 cents to $1,135.19. Meantime, the US dollar is a bit lower against the euro since France’s Nicolas Sarkozy said the continent would help Greece: “if it were necessary, the states of the euro zone would fulfill their commitments.” In terms of data the week ahead doesn’t quite begin until Wednesday afternoon when the Treasury releases its budget statement. On Thursday, weekly jobless claims will be accompanied by the monthly trade balance. Friday’s retail sales index...(read more)

United States — Sunday, March 7, 2010

National mortgage rates on 30-year fixed mortgages climbed 1 basis point from 4.78% to 4.79% on March 7, 2010, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 4.66% (ID) to a high of 5.08% (MO).

Compared to the week prior to March 7, 2010, the national 30-year mortgage rate is up 1 basis point from 4.78%. Compared to three months ago, the 30-year rate is up 15 basis points from its average rate of 4.64%.

Equity futures are firmly higher this morning ahead of February employment numbers. Payrolls are expected to continue declining but investors are reacting positively to news that the Bank of Japan could initiate measures to protect the economy from deflation. Overseas markets have been positive across the board, including a 2.20% gain in Japan, a 1.03% gain in Hong Kong, and gains of around 1% in Europe. “The Nikkei posted its strongest week of the year as the yen weakened amid speculation that the BoJ will undertake further easing,” noted analysts from BMO. “Meantime, a successful 10-year bond sale by Greece (which raised €5 bln), and stronger-than-expected factory data, are giving Europe a lift, though the euro is little changed.” Two hours before the opening...(read more)

The futures market is pretty quiet this morning as investors await the jobless claims report today and the month’s unemployment report tomorrow. Also on deck today are revisions to the fourth quarter’s productivity and costs report, and the first look of the year at pending home sales. In Europe, Greece hit the market a well-bid sale of 10-year bonds. “The bonds are being offered with a premium yield of a little under 6.5%, while the 10-yr is trading closer to 6% currently,” analysts from BMO said. “The ability to sell debt and accept that a premium must be paid are steps forward for Greece. A large amount of debt will still need to be issued over the next three months, but progress is a positive for Europe and global markets.” Ninety minutes before the opening...(read more)

The news was released today that the national average intrest rate is back under 5%.  This may be the last time for awhile that rates will be this low.  If you are looking to buy remember the tax credit is still there until April 30th.  If you have been putting off refinancing this may be the last time rates go under 5%.

It’s a busy day ahead as investors will eye key data on the manufacturing industry and receive one of the top forecasting tools for the monthly employment release. Until the data hits the market, focus is on Europe as the Greek government recently new austerity measures so it can meet its deficit-cutting pledge. News reports say the plan will raise taxes and slash spending. In the US, about 90 minutes before the bell sounds, Dow futures are off 7 points to 10,392 while S&P 500 futures are about flat at 1,171.10. Meantime, commodities are on the rise. WTI crude oil is up 39 cents to $80.07 per barrel and Spot Gold is up $3.95 per ounce to $1,138.65. Key Events Today: 8:30 ― The ADP Employment Survey saw the economy shed 22K private jobs in January ― the twenty-fourth consecutive month...(read more)

Relative to how busy this week is, Tuesday’s economic calendar is pretty slow. Aside from the weekly retail sales surveys, no major economic data will be released, but the afternoon features two speeches from the Federal Reserve. 90 minutes before the opening bell, equity markets are clearly looking for a positive open. The Dow looks to open 53 points higher at 10,438 and futures on the S&P 500 are up 6.30 points to 1,120.90. NYMEX crude oil futures contracts are up 63 cents to $79.33 and Gold is up $5.20 to $1,123.50. Key Events Today: 1:00 ― Eric Rosengren , president of the Boston Fed, speaks at a conference on post-crisis capital markets in Philadelphia. 2:00 ― Naranyana Kocherlakota (non-voter) , president of the Minneapolis Fed, speaks to the Allied Executives Business &...(read more)

Mid Atlantic Funding is now a qualified partner of the Department of Veterans Affairs.  What this does is offer financing to eligible veterans or their surviving spouses with the intention of purchasing a home up to 100% financing with no private mortgage insurance and refinance up to 90% of reasonable value.

Markets are optimistic ahead of a week packed full of data. Equities are looking for a higher opening, commodities are mixed, the dollar is slightly up, and Treasuries are softer. About two hours before the open, Dow futures are up 33 points to 10,344 and S&P 500 futures are 3.50 points higher at 1,106.90. WTI crude oil is up 36 cents to $80.02 per barrel, but Spot Gold is down $2.15 to $1115.45. Key Events This Week: Monday: 8:30 ― Personal Income & Outlays are each expected to advance by 0.4% in January, while the Core PCE price index (inflation) is expected to remain flat. In December, income rose 0.4%, outlays edged up 0.2%, and core PCE inched up 0.1%. Economists at BBVA note the expected gain in income will be the seventh month in a row. “However, as in the previous month...(read more)