“Stocks opened higher this morning but have since reversed course, as tensions in the Middle East sent crude oil higher on concerns of supply disruption. Higher oil prices could boost Stock prices in the energy sector and may help lift the entire Stock market later today, but the rise in Middle East tensions may also help Bonds improve as traders seek a safe haven for investments.

There are no economic reports due out today, and the Bond market faces another short holiday week–with the market closing early on Wednesday and remaining closed all day Thursday in celebration of the New Year. This holiday environment creates lower trading volumes, which can cause unexpected price movements and additional volatility.

Currently, Bonds are riding a nice wave higher.

***Please note I will be out of the office 12/31 - 1/4, Happy Holidays!!***

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

Typically bad economic news is good for Bonds. And, as Mortgage Bonds are trading higher on the heels of some Bond friendly data, that’s good for rates.

Initial Jobless Claims jumped by 30,000 to 586,000 and the four-week average of continuing claims rose to 4.32 million, which is the most since December 1982. Also on the news front, Personal Spending fell 0.6% in November amid mounting job losses and economic uncertainty. While this number was bad, it was a bit better than expectations.

Looking ahead, I do see Bond prices revisiting the highs seen last week, but it will likely continue to be volatile.

Have a safe and Merry Christmas!

***Please note I will be out of the office 12/31 - 1/4, Happy Holidays!!***

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

We’re looking for people who have tried our location aware property search app for the iPhone.  If you have, let us know what you think about it in the comments section.  Were you able to contact an agent easily?  Did you find a property you were looking for?  Was the app easy for you to use?

Thanks a lot!  We look forward to hearing your comments.

Oh! If you haven’t downloaded it yet get it here. If you don’t have an iPhone, you can use our mobile enhanced website by visiting m.pmz.com on your cell phone.

At PMZ Real Estate, we know there’s no better place than Home for the Holidays.  Keep your loved ones and your homes safe this holiday season with these  quick tips!

Safety Tips

• Install a smoke detector or new batteries in the one(s) you have and TEST it.
• Use only outdoor lights outside your home.
• Examine light strings each year, discard worn ones.
• Fasten the bulbs securely and point the sockets down to avoid moisture build up.
• Connect no more than three strands together.
• Never use indoor extension cords outside.
• Avoid overloading wall outlets and extension cords.
• Keep outdoor electrical connectors above ground and out of puddles and snow.
• Unplug light string before replacing a bulb. Review the original package to verify proper wattage and voltage.
• When connecting light strands, wrap a plastic bag around connections and tie ends with Teflon tape.
• Never use electric lights on a metallic tree, use colored spot lights.
• Make sure trees hung with lights are not touching power lines.
• When using candles, place them a safe distance from combustibles.
• Place candles in sturdy containers. Remember, hot wax burns kids.
• Extinguish candles prior to going to bed.
• Dispose of fireplace ashes into a metal container until cold.
• After parties, check around and under sofa and chair cushions for smoldering cigarettes. (Provide lots of ash trays)
• Install at least one carbon monoxide detector in your home.
• Have an operable fire extinguisher readily available.

Safety Gift Ideas

Put together a gift basket containing one or more of the following items:  Christmas Tree. Three smoke detectors and batteries. A quality fire extinguisher. A flashlight and batteries or light sticks. A first-aid kit. A carbon Monoxide detector. A mobile phone. A second floor escape ladder. “Emergency kit”- energy bars, water, battery radio, flashlight/light sticks and a first-aid kit packed
in a small travel bag.

Have a great holiday!

The United States Conference of Mayors released their 3rd report outlining projects in cities around the country that would stimulate their economy through job growth.

If everything goes to plan, Modesto could see over $250 million in federal aid creating 1,104 jobs. Some of the projects include:

• Public Housing Modernization
  Cost:  $7.5 million
  Jobs Supported: 30

• Bus maintenance facility design & construction
  Cost: $3 million
  Jobs supported: four
• Sutter Avenue rehabilitation
  Cost: $5 million
  Jobs supported: 20
• Solar roofs on six city government buildings to provide power to those buildings
  Cost: $5 million
  Jobs supported: 100
• Solar shade structures (5-kilowatt each) in five city parks to provide power to tennis courts, other lighting fixtures, irrigation systems, etc.
  Cost: $200,000
  Jobs supported: 10
• Cuts in curbs throughout the city for persons with disabilities
  Cost: $500,000
  Jobs supported:  6

View the mayors full wish list of projects here.

Mortgage Bonds are trading lower as we kick off the short holiday week. The Bond markets will close at 2 pm Eastern Time on Wednesday and will be closed all day Thursday for Christmas. Friday will be a regular trading session.

There are no economic reports due out today. However, later this afternoon, a record $38 Billion auction of 2-year Treasury Notes could influence prices, as the market absorbs additional supply.

Currently, Mortgage Bonds are trading in a wide range between resistance and support.

***Please note I will be out of the office 12/31 - 1/4, Happy Holidays!!***

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

Volatility will once again be the key word in the markets today, as a number of Stock options and futures expire. This volatility has already jostled Mortgage Bonds around quite a bit in the early hours of trading.

In other news, the auto industry finally received some relief, as President Bush announced a deal that will provide GM and Chrysler with $13.4 Billion worth of government loans in exchange for restructuring.

Currently, Bond prices are sitting just above an important level of support and may move higher due to market activity.

***Please note I will be out of the office 12/31 - 1/4, Happy Holidays!!***

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

After all the big Fed news from earlier this week, Bonds began the day on the quiet side as they attempt to regain some of yesterday’s losses.

Meanwhile, the Job market continues to struggle. The four-week average of new Jobless Claims reached the highest level since December 1982, while the four-week average of continuing Claims is the highest since January 1983.

***Please note I will be out of the office 12/31 - 1/4, Happy Holidays!!***

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142

PMZ Real Estate is pleased to announce the immediate availability of our real estate search application for the iPhone and iPod touch.  This app represents a leap forward in real estate search allowing house hunters to search for homes when it’s convenient for them.  Our real estate search app is also perfect for the on-the-go real estate agent.  The app is free for all! You can grab the app by clicking here (will open iTunes). You can also download the PMZ Real Estate Search app by tapping on the App Store icon on your iPhone or iPod touch and searching for “PMZ.”

With the PMZ App, PMZ Real Estate brings you thousands of California listings straight to your iPhone or iPod touch.

The PMZ app can automatically find homes for sale, for rent, and open homes based on your location using GPS. If you want to find properties in other cities with defined criteria such as price, beds or baths, you can do that too! You can also save properties that you love and easily go back to them later from the home screen.

Featuring:

• Location aware home and rental searching
• Search by city, beds, baths and more
• For Sale, For Rent and Open House searches
• View ALL property photos
• Contact an agent right from property view
• View a map of the property location

PMZ currently offers property results for listings in Stanislaus, San Joaquin, Merced, Calaveras, Tuolumne and East Bay counties. Coming soon: All Northern California Homes for Sale!

The Fed lowered the Federal Funds Rate by .75% to a target range of 0% to .25%, and also lowered the Discount Rate by .75% to .50%. The statement that followed the cut said that the Fed was prepared to take aggressive steps to revive the sagging US economy.

In the past, Mortgage Bonds have reacted negatively to Fed cuts as fears of inflation come to life. But the Fed stated that inflation pressures have diminished appreciably and expects inflation to moderate further in coming quarters, hence the reason home loan rates are improving.

There are no economic reports due out today.

***Please note I will be out of the office 12/31 - 1/4, Happy Holidays!!***

“Your Partner In Success!”

Tony Frerking
Sr. Mortgage Consultant
PMZ Home Loans
1600 N. Carpenter Rd. Ste. C
Modesto, CA 95351
Direct: (209) 404-2200
Fax: (209) 254-7142