Liesl sent me a Friday wrap-up. Since we all were caught up in Seafair over the weekend the news is still fresh to me.

Liesl also reminded me that if I have any clients in need of the Washington State Housing Finance commission education classes or The State Bond money, please consider one of her classes. She has five planned for this upcoming month and one thus far in September. DROP ME AN EMAIL IF YOU NEED TO SIGN UP FOR A CLASS.

*****

Time is running out on the $8000 tax credit for first time homebuyers, let’s get them all sold!

The Week ends on a good note – rate wise.

Fri, Jul 31 – 5:15 PM ET Market Wrap:
Mortgage Bonds rallied today as the weight of the auctions were lifted and in the absence of any positive news, tame inflation data and a weak personal consumption report. Stocks were essentially unchanged pushing investing dollars over to Bonds. Our benchmark 4.5% coupon had a good week moving up 106bp, most of the gains coming today rising 69bp finishing at $100.62. There are no treasury auctions slated for next week other than the usual T-Bill offerings. Stocks had a great run in July as the Dow gained 8.6% for the month and was the was the best July for the Dow in percentage terms since 1989, when it gained 9.04% ending at 9,171 up 17 points. The Dow’s best-performing stock in July was Caterpillar, soaring 33%. The S&P; 500 was near unchanged for the day closing at 987 and gained 7.4% in July and has risen 34.33% in five months, its best five-month span since October 1938. The Nasdaq lost 5 points finishing at 1,978 and rose 7.8% in July and has risen 43.59% in the last five months, its best five-month run since March 2000, when it rose 54.15%. Oil prices jumped $2.51 to
$69.45/barrel.

Liesl Mordhorst
Home Financing Professional
Alpine Mortgage Services, Inc.
2150 N 107th St Ste 480
Seattle, WA 98133

liesl@alpinemtg.com
phone (206) 683-2382
fax (206) 529-3331
(800) 394-4464, ext 131