The housing market continues to show signs of stabilization, and although home prices are not about to spike higher, the decline certainly seems to have subsided. Existing Home Sales came in better than expectations, reaching their highest level in two years, as you can see in the chart below. And while the inventory of unsold homes remains lofty, it was reported at its best level in a year. In addition, while Housing Starts and Building Permits both came in slightly below expectations, they did rise in July - another sign of stabilization in the housing market. New Home Sales data will come out this Wednesday, so indeed we will soon find out if home buyers are coming out to buy those new built homes. With home loan rates still at exceptionally low levels - it presents a great opportunity to buy. Do let me know if you or one of your friends, family, neighbors or coworkers would benefit from learning more about buying a home in today’s market.

Jim Marcinkowski

Mortgage Consultant

Genesis Home Mortgage

239-826-6400 Direct

239-985-4486 Fax

Confidentiality Notice: The documents in this transmission contain confidential information belonging to the sender, which is legally privileged. The information is intended only for the use of the individual or entity named above. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in relation to the contents, is strictly prohibited. If you have received this facsimile and/or email in error, please notify the sender immediately and destroy the document(s).

It’s a quiet week ahead when it comes to scheduled economic reports, but that doesn’t mean the volatility will quiet down. Keep a look out on Thursday for the Existing Home Sales Report for a read on the housing market. Last week showed a decent Housing Starts number, so it will be interesting to see if Existing Home Sales shows some good news for the Housing Market.

Also on Thursday, another Initial Jobless Claims report will be released. Last week, first time claims for unemployment benefits dropped by 47,000 to the lowest level since January. However, the reading is somewhat distorted by shifts in the timing of auto plant shutdowns. Usually plants would shut down in July, meaning last week’s unemployment claims number would usually have been higher, but the shutdown process was accelerated due to the bankruptcies of GM and Chrysler. Therefore, the seasonal adjustment makes this number look rosier than it really is.

In addition, earnings season continues with important reports from Legg Mason, Coca Cola, Dupont, Apple, Wells Fargo, Pepsi, eBay, and Xerox among others…and if these reports are good, Stocks could continue to improve, at the expense of Bonds and home loan rates.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. Bonds and rates worsened on the heels of a rally in Stocks. I’ll be watching to see if Bonds can remain above key support, which would help home loan rates stabilize. As always, I encourage you to give me a call to discuss how the current rate environment might benefit you.

Jim Marcinkowski

Mortgage Consultant

8695 College Pkwy.

Suite 2440

Fort Myers, FL 33919

239-936-4232 Office

239-826-6400 Cell

239-985-4486 Fax

Confidentiality Notice: The documents in this transmission contain confidential information belonging to the sender, which is legally privileged. The information is intended only for the use of the individual or entity named above. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in relation to the contents, is strictly prohibited. If you have received this facsimile and/or email in error, please notify the sender immediately and destroy the document(s).

Give Me Money… That’s What I Want

The Beatles weren’t singing about the US economy, but they may as well have been. Earlier this year, the government unveiled its new $787 Billion Stimulus Plan to infuse the economy with money and confidence. That’s some serious money!

But have you ever wondered who’s actually getting that money. what types of projects may be funded. and how it impacts your state and local community?

Here’s your answer: StimulusWatch.org!

StimulusWatch.org was built to help the government keep its pledge to invest stimulus money smartly and to add transparency and accountability to the process.

At StimulusWatch.org, you can find and review projects that are candidates for funding by federal grant programs. You can even sort the projects by activity, expense, and need.

Better still, you can access a list of projects by state, so you can see how the Stimulus Plan may impact your state and local community - including costs, number of jobs, and exact locations! Simply select your state and review the projects under consideration. You can even add comments about the value of the projects listed!

Jim Marcinkowski

Mortgage Consultant

Neighborhood Funding, Inc.

8695 College Pkwy.

Suite 2440

Fort Myers, FL 33919

Your Direct Lender!

239-936-4232 Office

239-826-6400 Cell

239-985-4486 Fax

Apply online @

www.JimNFI.com

Licensed in: Florida, Georgia, Tennessee, South Carolina, Indiana, Arkansas, Alabama, Oklahoma, Texas, Oregon, Conneticut and Washington.

Confidentiality Notice: The documents in this transmission contain confidential information belonging to the sender, which is legally privileged. The information is intended only for the use of the individual or entity named above. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or the taking of any action in relation to the contents, is strictly prohibited. If you have received this facsimile and/or email in error, please notify the sender immediately and destroy the document(s).