Gary`s Blog in South Jersey

Happy holidays to everyone! A time of heartfelt thanks...

Wish to thank all my clients, friends, my super co-workers, you are all so awesome!-Everyone rocks! My heartfelt thanks for helping me accomplish my 34th year in the real estate business. I am not that old now ! :) --Remember I have been licensed to sell real estate since 18 years young, and a broker since 23 years old, I have worked through 4 recessions now, our office is still leading the way, with the super help from my co workers and good client cooperation, we found ways to make people happy and get the job done right. -THANK YOU- I appreciate your business and timely thoughtful buyer and seller referrals.

Just have to mention, super time to be a Philadelphia sports fan now--The Eagles, Flyers playing in top form and how bout those Fabulous Phillies getting pitcher Cliff Lee back!-Awesome early holiday gift for us Phillies fans.  Heck- even the 76ers tonight, almost just beat the NBA leading Boston Celtics with their new improved defense of late. They may not make the playoffs like the other Philly teams but they are quickly getting more respectable each week.

Hope everyone`s holiday season is filled with alot of love and happiness that bring alot of fond memories for you and your family. May you have a super 2011, The south Jersey shore area, Atlantic and Cape May counties should show improvement in sales, with an overall slow improving economy. Be safe and keep warm--it`s cold out there!--But remember it`s usually the best time- right now-to get that timely great bargain--smart investment you always wanted. Low bargain interest rates and low prices can`t last like this perfect buying storm forever now.  Here to help! In Appreciation--My Best  Gary Simmens

Spotting and Knowing Property Value Trends

Knowing property value trends can be very helpful to you as a buyer, seller or investor. As a buyer, you can pinpoint bargains in areas that are trending upward (or downward) in price. As a seller, you can use the information as part of the bargaining process to get the maximum price from the sale. As an investor, you can use the latest forecasts and trends to determine whether you want to invest, when you want to invest, and how much to put into a property. 

Remember, the trends are not guarantees of future performance; they're an educated guess as to which way the market is moving.Whatever your real estate goals, you want the latest and best information, and you want it from experienced professionals. In terms of your neighborhood and/or city, your local real estate agent is the best source for weekly and monthly trends. After all, it's their job to stay on top of such trends in the markets they serve. 

Other organizations provide state, regional and national forecasts. They're often updated on a monthly or quarterly basis. Sources of Information Thanks to the Internet, there are many, many sources for data on real estate property value trends. 

For state trends, go to the Federal Housing Finance Agency website (http://www.fhfa.gov/Default.aspx?Page=215). Click on your state to get the Housing Price Index (HPI). 

If you're wondering exactly what the HPI measures and how it's calculated, here's what the site says: "The HPI is a broad measure of the movement of single-family house prices. The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or re-financings on the same properties.

This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975. The HPI serves as a timely, accurate indicator of house price trends at various geographic levels. Because of the breadth of the sample, it provides more information than is available in other house price indexes." So, if you want property value trends for Nebraska from the FHFA site, click on "State HPI Summary" and scan down the list of states until you find Nebraska. The handy table gives rankings and trends in quarterly, 1 year, 5 year and "Since 1991Q1" columns.On the same site, you can also click on "Research and Analysis," and you'll get a list of government and industry sites which will provide you with information on property trends. Note: The FHFA site doesn't provide predictions; it simply reports data. To get analysis and predictions, try the respected RealtyTimes.com. It reports on current market conditions and provides advice to consumers as well. Another site for information on residential properties is Zillow.com.

To find local information, fist click on the "Local Information" tab. That takes you to the page where you'll find the "State," "City," and "Nearby Neighborhoods" tabs. Click on the appropriate names, and you have local information! There are many, many other websites from which you can gather property value information. 

I don't have the space to list them all, so here's a partial list of major industry and governmental agencies: 

- National Association of Realtors = Freddie Mac 
- National Association of Home Builders 
- Census Bureau 

Of course, the network, cable, and satellite channels report many of the finding from the sources listed above on a national basis. But, if you want local information, I recommend you work with your local real estate agent! He or she is best positioned to give you the latest information on property value trends. 

To see what I can do for you in that regard, please contact me direct today at 609-338-1339 on my cell phone. Have a good day!  Gary Simmens Balsley/Losco Real Estate

Economic Highlights for the Week Ending February 5, 2010

Volume 16, Number 4 Economic Highlights for the Week Ending February 5, 2010

MONDAY, February 1st Manufacturing activity expanded for the sixth straight month in January. The ISM index increased to 5.84% from 54.9% in December. The gain last month was led by production increases related to inventory investment. Severe declines in factory activity appear to be over and a moderate recovery from very low levels is underway. Personal income rose 0.4% in December, the fastest pace of growth recorded since stimulus checks were issued last May. Consumer spending rose a modest 0.2% on the month as the savings rate increased to 4.8%. Income growth, although improved, remains modest and consumers remain cautious about spending.

TUESDAY, February 2nd The pending home sales index increased to 96.6% in December from a level of 95.6% in November. The index plunged in November in conjunction with the original expiration of the homebuyer tax credit and has not yet rebounded significantly. Now that the tax credit has been extended and expanded, the pending home sales index and thus existing home sales are expected to increase over the next several months. Motor vehicle sales declined 4.2% in January to an annual rate of 10.8 million. Total vehicle sales are off to a weak start this year, constrained by a weak labor market, still tight credit and at this time the suspension of sales by Toyota. Although very weak, vehicle sales are expected to continue trending mildly higher throughout this year.

WEDNESDAY, February 3rd The MBA mortgage applications index surged 21.0% to 620.7% for the week ending January 29. The purchase index increased 10.3% on the week as the refinance index rose 26.3%. Refinancing activity accounted for slightly less than 70% of new mortgage application activity. Despite this week’s gains, the level of mortgage activity remains quite low indicating stagnation in the housing recovery. The ISM service sector survey increased to 50.5% in January from 49.8% in December. An index level over the key 50% level indicates expansion in the sector. Like many other sectors of the economy, the recovery in service sector activity remains quite subdued.

THURSDAY, February 4th Productivity grew at an annualized pace of 6.2% in Q409 as unit labor costs fell a more-than-expected 4.4%. There was a large increase in output but a smaller increase in the hours worked leading to the growth in productivity. Firms are producing more to meet demand without hiring new workers. Also, the weak labor market combined with productivity increase led to another steep decline in unit labor costs. Jobless claims increased 8k to 480k for the week ending January 30. It may be that some of the holiday induced volatility has yet to work its way through the data, accounting for the elevated weekly reading. Expectations are for claims to decline from here and retake their pre-holiday improved level. If not then, it would indicate a stalled labor market recovery. Chain store sales rose 3.1% in January from January one year ago. Most major retail categories posted gains from last year except for drug store sales which declined 1.4%. Wholesale clubs in particular received a boost from higher gas prices. Because chain store sales were at such a low level last year, the comparisons this year will remain favorable. Sales will continue to increase, modestly, from very low levels going forward.

FRIDAY, February 5th Payroll employment fell another 20k in January compared to expectation for a 10k increase. Employment has declined 3.0% over the past year for a total of 4.02 million jobs. Since the onset of the recession in December 2007, the economy has shed 8.42 million jobs. Jobs have now been lost in 24 of the past 25 months. On a more positive note however, the unemployment rate fell to 9.7% from 10.0% previously even as the workforce increased moderately.

Stock Market Close for the Week

Index Latest A Week Ago Change DJIA 10012.23 10067.33 -55.10 or -0.55% NASDAQ 2141.12 2147.35 -6.23 or -0.29%

WEEK IN ADVANCE

Light data flows in the week ahead provide mostly second-tier indicators with the exception of retail sales for January, due out on Thursday. With consumer spending accounting for two-thirds of all economic activity, retail sales are always on the radar. Other than that, the markets will have a chance to absorb the chronically sluggish employment data while the Treasury auctions another $81 billion in short and long term notes and bonds.

Key Interest Rates Latest 6 Mos Ago 1 Yr Ago Prime Rate 3.25 3.25 3.25 Fed Discount 0.50 0.50 0.50 Fed Funds 0.15 0.18 0.23 11th District COF 1.828 1.599 2.757 10-Year Note 3.56 3.77 2.92 30-Year Treasury Bond 4.52 4.52 3.62 30-Yr Fixed (FHLMC) 5.01 5.22 5.25 15-Yr Fixed (FHLMC) 4.40 4.63 4.92 1-Yr Adj (FHLMC) 4.22 4.78 4.92 6-Mo Libor (FNMA) 0.38438 0.92500 1.6600 Sources: IBC' s Money Fund Report; Bank Rate Monitor; Federal Home Loan Bank of San Francisco

Economic Highlights for the Week Ending January 29, 2010

Volume 16, Number 3 Economic Highlights for the Week Ending January 29, 2010

MONDAY, January 25th Existing home sales plunged a record 16.7% in December to an annualized pace of 5.45 million. The large decline followed several months of strong sales gains that were primarily driven by the first time homebuyer tax credit which was originally slated to expire on November 30. The tax credit has since been extended and expanded but not before impacting sales immediately afterward in December. Despite the sharp decline in December, total sales are still 15.0% above their year ago level. For all of 2009, sales increased over 5% from 2008, their first annual gain since 2005.

TUESDAY, January 26th The S&P/Case-Shiller 20-city home price index increased 0.2% in November from October and gained 5.3% from November 2008. 14 of the 20 metro areas tracked gained on a monthly basis, seasonally adjusted, and 4 of the 20 areas posted annual gains. The rate of decline slowed in most all areas which is indicative of some price stabilization. Nationwide, home prices are akin to 2003 levels. Consumer confidence increased to 55.9% in January from a level of 53.6% in December. A solid gain in present situation ratings led the index higher although expectations scores rose slightly as well. Even with a better-than-expected reading this month, confidence levels remain depressed as weak labor and housing markets continue to weigh on consumers' attitudes about the economy.

WEDNESDAY, January 27th The MBA mortgage applications index fell 10.9% to 513.0% for the week ending January 22. The purchase index slipped 3.3% as the refinance index tumbled 15.1%. With this week's decline, mortgage application activity is 29.9% lower than its year ago level which suggests stagnation in what was a modest housing market recovery. New home sales declined by 7.6% in December to an annual pace of 342k after an upwardly revised, but still dismal annual rate of 370k in November. Substantial back-to-back monthly declines have left new home sales near their record low rate of 329k registered in January last year. New home sales are tanking again after many months of recovering at a modest pace. Hopefully, the housing market will rebound once again supported by the extended homebuyer tax credit, high affordability, looser mortgage credit and improving jobs picture. The FOMC voted to keep rates in an exceptionally low range of 0% to 0.25% in order to support ongoing recovery in the economy. The Committee acknowledging moderate economic expansion but with substantial resource slack which is likely to restrain inflation at this time. Policymakers maintained their commitment to buying up to $1.25 trillion of agency mortgage backed securities and up to $175 billion of agency debt. In addition the Fed anticipates that most of their special liquidity programs will expire on February 1, 2010 but are prepared to modify these plans if necessary. The Fed and fiscal and market forces have generated the beginnings of an economic recovery and resolved much of the distress in financial markets. With their mission largely being accomplished, details of the exit strategy are emerging.

THURSDAY, January 28th Jobless claims fell 8k to 470k for the week ending January 23. Expectations were centered on a bigger decline to a level of 450k. Consequently claims remain elevated which may indicate renewed weakness in labor market conditions. It may take several weeks for the data to settle down from the fluctuations caused by the holidays.

FRIDAY, January 29th The economy grew at a 5.7% pace in the fourth quarter according to the advance estimate for GDP. This was the strongest pace of economic growth in more than six years. This follows 2.2% growth in Q3. The Q4 expansion was driven by inventory investment which added 3.4 percentage points to growth. Final demand was positive last quarter but still fairly weak. With inventories being cyclical in nature it is questionable whether the current strong growth pace can be maintained in the near-term.

Stock Market Close for the Week

Index Latest A Week Ago Change DJIA 10067.35 10172.98 -105.65 or -1.04% NASDAQ 2147.35 2205.29 -57.94 or -2.63%

WEEK IN ADVANCE

Robust Q4 growth is not expected to continue in the current quarter. Data in the coming week will provide the first look at the economy's footing in the New Year. The employment report for January, due out on Friday, highlights on the economic calendar.

Key Interest Rates Latest 6 Mos Ago 1 Yr Ago Prime Rate 3.25 3.25 3.25 Fed Discount 0.50 0.50 0.50 Fed Funds 0.13 0.15 0.19 11th District COF 2.094 1.832 3.155 10-Year Note 3.59 3.67 2.75 30-Year Treasury Bond 4.50 4.49 3.45 30-Yr Fixed (FHLMC) 4.98 5.25 5.10 15-Yr Fixed (FHLMC) 4.39 4.69 4.80 1-Yr Adj (FHLMC) 4.29 4.80 4.90 6-Mo Libor (FNMA) 0.42969 1.11125 1.7500 Sources: IBC' s Money Fund Report; Bank Rate Monitor; Federal Home Loan Bank of San Francisco

New and extended tax credit info update....

President Signs Legislation to Extend and Expand Tax Credit
Today President Obama signed HR 3548 or The Worker, Homeownership, and Business Assistance Act of 2009, a bill that extends unemployment benefits and includes an amendment to also extend and expand the federal tax credit. NJAR® anticipates that the newly signed legislation will help maintain the recent momentum seen in the New Jersey real estate market and spur the state’s economy as a whole. The legislation will extend the $8,000 first-time home buyer tax credit past its original November 30 deadline, and it will now be available through April 30, 2010. Additionally, existing homeowners who have lived in their homes for at least five consecutive years out of the last eight will be eligible for a credit that can total $6,500. Other details of that amendment are as follows:

Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8,000 for first-time purchasers. No change to definition of first-time purchaser.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
The purchase price of the property may not exceed $800,000.
New anti-fraud limitations are imposed.
For additional details, please visit www.REALstoryNJ.com/Home-Buyer-Tax-Credit and read NJAR®'s press release. NJAR® would like to thank members for their continued support which helped pass this critical legislation. New Jersey REALTORS® had an above average response rate to the NATIONAL ASSOCIATION OF REALTORS® (NAR) Call for Action (CFA) at 19.8%.

If You’re Going to Buy a House, Do it Now

If You’re Going to Buy a House, Do it Now By Martin Hutchinson
Contributing Editor
Money Morning

It looks like the U.S. housing sector has bottomed. In fact, if you’ve been thinking about buying a house, this may be the time to make your move.

Let me tell you why.

Congress and the Obama administration are considering whether to extend the $8,000 first-time-buyer tax credit for another year from Nov. 30, when it expires. With cheap money, housing may show strength in the short term, just as we’ve seen with other assets. But there is the potential for a market hiccup next year or in 2011.

When the National Association of Homebuilders released its NAHB Index for October last week, it showed a drop of one point in homebuilders’ view of the market, from 19 to 18.

The good news: The index is at double its level from last spring – when it bottomed out at nine – meaning homebuilders see an improving market.

The bad news: The index is based so that a reading of 50 is the “neutral market” view. That means there’s a long way to go, yet.

But even if Congress doesn’t opt to extend the $8,000 tax credit, 30-year mortgage rates are still down around 5.1% – close to their all-time low. But rates probably won’t remain that low for long: Building inflationary pressures and the huge U.S. budget deficit will combine to push interest rates higher.

In other words, even if housing prices are destined to drop by another 10% (except in the very worst areas, I wouldn’t expect you’d see anymore than that), you still may end up saving so much on financing costs by borrowing now that you’d be mad to wait any longer.

Housing arithmetic is always complicated but one thing I do know: 7% of $90,000 is more than 5.1% of $100,000!

The S&P/Case-Shiller composite home price index bounced nicely in July, with the 20-city index rising 1.5%, after a 1.3% jump the previous month. That’s a pretty good indication that the markets have bottomed out.

What’s more, the $8,000 credit for first-time buyers was still in force for August and September transactions (you need to close to get the credit, so deals done before Sept. 30 should squeeze under the wire). Since interest rates remained low for those months, it’s likely we’ll see further price rises then, too.

That would mirror the market in Britain, where housing prices bottomed out last spring and have risen for the six months since. Indeed, the market in London for houses priced above 5 million pounds (about $7.5 million) is apparently exceptionally strong, because of the likely level of Goldman Sachs Group Inc. (NYSE: GS) bonuses!

For those of us who aren’t about to receive a Goldman Sachs bonus, or buy a house priced above $7.5 million, the short-term outlook is still pretty good. U.S. gross domestic product (GDP) almost certainly rose during the third quarter – probably by about 3% – and is expected to rise again in the fourth quarter.

That should translate into an abatement of the flood of job losses – perhaps from the 250,000-per-month rate of the last few months to around 100,000 per month. That’s still bad, but is indicative of a recovery ahead. At that point, the outlook for the housing market will depend on what region you live in.

In Florida, California and Nevada – where prices have dropped more than 40% – there may still be a large number of foreclosures and unoccupied new buildings left over from the bubble. In those markets, therefore, the excess supply may take time to absorb.

Similarly, even with the government bailout of the automobile industry, I probably wouldn’t invest heavily in Detroit, even though prices there are lower than they were in 1995. However, in such cities as Atlanta and Dallas, prices did not rise too much in the bubble – and haven’t dropped all that much since – so the market should rest on a firm foundation and we can expect it to advance.

Beyond 2009, the prognostication is still murky. On the one hand, even a slow economic recovery should induce consumers to more seriously consider home purchases. And with inflation apparently on the upswing, the prices of those houses can be expected to increase, as well.

On the other hand, if inflation really gets a grip, the U.S. Federal Reserve will have no alternative but to raise interest rates. Housing is the most-interest-rate sensitive sector of consumer spending. So if rates rise sharply, the housing market will inevitably suffer.

As for the $8,000 credit for first-time homebuyers, it doesn’t really matter. It’s like the “Cash-for-Clunkers” program. If Congress extends it, it will prop up the housing market a bit. But if Congress doesn’t, there will be no disaster – the market will simply fall back for a few months until demand catches up with supply.

It makes only a modest short-term difference in activity, and probably only a 1% to 2% difference in the level of housing prices.

If you’ve got the money, go buy a house. You won’t find a better time to strike.

RIVERFRONT HOME JUST SOLD by REALTOR GARY SIMMENS---Beautiful 4 year young home located on natural historical Great Egg Harbor River is nestled in secluded area with endless water views! Newer bulkhead & U-shapeddock holds 2-12000# boat lifts! Main level features Lr,Kit,DA, FmRm, 2 bdrs/2 bths and is 1800 sq ft. Lower level(ground level) is 1400 sq ft w/ 1-bdrm 1-bth,open living area and summer kitchen ( perfect for in-law suite) 400 sq ft of storage! All interior doors are 36wide! SOLD by Gary for more info call 609-645-0202.
or see more of the home at www.GARYSIMMENS.com

LATEST LINWOOD, NJ PROPERTY SALES- SOLDS

LINWOOD UNDER CONTRACT FROM JULY 1, 2009 TO SEPTEMBER 30, 2009

ADDRESS ASKING PRICE BEDROOMS BATHS

106 Arbor $499,000 5 4

215 E. Berkshire $849,000 4 3.5

113 Cheltenham $498,900 4 2.5

18 E. Edgewood $1,425,000 4 5.5

500 W. Garfield $185,000 4 2

1 Seagarden $485,000 4 2.5

25 Wendy $399,800 4 3.5

Please disregard if your property is listed with another broker. This information is complied from the SJSRMLS system for the past 90 days. This information is based in whole or in part on data supplied by our SJSRMLS system. That system does not guarantee accuracy for the information supplied. Data maintained by SJSRMLS may not reflect all real estate activity in the market.

THE SIMMENS REPORT

Bold properties are the transactions my company was directly involved in procuring. The Realtor sponsorin this community information service ad is not making any representation that they were involved in any other particular transaction whatsoever as printed in this report on the bold properties.

LINWOOD SOLD FROM JULY 1, 2009 TO SEPTEMBER 30, 2009

ADDRESS ASKING PRICE SOLD PRICE BEDROOMS BATHS

220 Berkshire $979,900 $950,000 4 3.2

201 Cheltenham $539,000 $520,000 4 3.5

230 Davis $110,000 $137,000 4 2

403 W. Edgewood $259,000 $243,000 2 1

211 Forest $369,900 $350,000 4 2

305 Forest $340,000 $330,000 4 2.5

1427 Grant $549,900 $506,000 3 3

4 Greenwich $289,000 $267,000 3 2

108 Hemlock $345,000 $345,000 3 2.5

305 Kirklin $239,000 $239,000 4 1.5

401 Leenie $339,000 $320,000 4 4

8 Marvin $449,000 $470,000 4 3.5

3 E. Monroe $399,900 $390,000 4 2

1710 New $169,000 $158,000 3 2.5

1206 Oak $299,900 $275,000 3 2

607 Oakcrest $438,900 $410,000 3 2.5

115 Parkwood $359,000 $335,000 3 2.5

217 Patcong $800,000 $800,000 4 4.5

1410 Shore $477,000 $420,000 4 3.5

510 Van Sant $278,900 $266,500 3 1.5

401 Wabash $114,900 $135,000 3 1

2306 Wabash $299,900 $299,900 4 3.5

Economic Highlights for the Week Ending October 9th 2009

Volume 15, Number 38 Economic Highlights for the Week Ending October 9, 2009

MONDAY, October 5th The ISM non-manufacturing index increased to 50.9% in September, a bit better than an expected reading of 50.0%. The index was above the key 50% level which indicates modest expansion in the service sectors of the economy. Business activity in financial, construction, government and other service industries remains slow, but continues to increase from its low point in November of last year, amidst the financial and credit crisis. The outlook is for modest expansion in the service sectors to continue this year and into next.

TUESDAY, October 6th Gold prices soared today, setting a new record as investors looked to gold as a hedge against the weakening dollar. Gold prices also continue to be supported by inflation fears brought about by huge fiscal stimulus, policy and liquidity measures taken in recent months to avert a banking system collapse and help the economy emerge from recession. Gold futures hit an intraday trading high of $1045 an ounce today with the contract for December settling at $1039.70 an ounce, a gain of $21.90. Analysts believe that the gold rally will continue in the long run.

WEDNESDAY, October 7th The MBA mortgage applications index jumped 16.4% to 756.3% for the week ending October 2. The gain last week was led by a 13.2% increase in the purchase index; the refinance index actually declined 18.2% on the week. Contract mortgage rates fell again last week which is supporting a higher trend in application activity over the past couple of months. Approximately two-thirds of total applications were for refinancings and the remaining third for purchases.

THURSDAY, October 8th Jobless claims declined by 33k to 521k for the week ending October 3. The drop in claims this week more than offset a jump last week and re-establishes a mild downward trend over the last several months. Severe contraction in the labor market has eased somewhat from earlier this year however progress continues to be very slow amid weak hiring and ongoing job losses. Consumer credit outstanding fell by $12.0 billion in August much steeper than an expected decline of $10.0 billion. Just a year ago consumer credit was growing at a 3.9% annual pace; after falling in 10 of the last 11 months, consumer credit is now declining at a 4.4% rate. Consumers continue to deleverage and face stringent credit conditions which place a significant weight on spending going forward. Long-term mortgage rates eased for the sixth straight week, this week, remaining below 5.0% for the second week which seems to be a level most conducive to increasing affordability. Mortgage rate declined despite rising yields in the bond market. 30-year fixed rate mortgages averaged 4.87% this week compared to 4.94% last week according to Freddie Mac's mortgage market survey.

FRIDAY, October 9th The international trade deficit on goods and services narrowed to $30.7 billion in August from a shortfall of $31.9 billion in July. The average monthly trade deficit in 2009 is roughly half of the monthly average trade gap in 2008 because of much lower trade volumes as a result of the global economic downturn. Depreciation of the dollar against most other major currencies has also led to the narrowing of the trade gap.

Stock Market Close for the Week

Index Latest A Week Ago Change DJIA 9864.94 9487.67 +377.27 or +3.98% NASDAQ 2139.28 2048.11 +91.17 or +4.45%

WEEK IN ADVANCE

A bevy of data reports in the week ahead will help solidify the Q3 economic picture. Meanwhile, the markets will remain in focus after a 2009 record high closing and key earnings later in the week. Policy speeches and the FOMC meeting minutes are also on tap.

Key Interest Rates Latest 6 Mos Ago 1 Yr Ago Prime Rate 3.25 3.25 4.93 Fed Discount 0.50 0.50 2.18 Fed Funds 0.13 0.14 1.59 11th District COF 1.412 2.003 2.693 10-Year Note 3.38 2.93 3.69 30-Year Treasury Bond 4.22 3.72 4.08 30-Yr Fixed (FHLMC) 4.87 4.87 5.94 15-Yr Fixed (FHLMC) 4.33 4.54 5.63 1-Yr Adj (FHLMC) 4.53 4.83 5.15 6-Mo Libor (FNMA) 0.62875 1.73563 3.98125 Sources: IBC' s Money Fund Report; Bank Rate Monitor; Federal Home Loan Bank of San Francisco

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