Welcome Dane Corrigan

Dane's headshot1

Noble Home Loans Welcomes Dane Corrigan to Sahara HQ Office
Las Vegas, NV. (January 17, 2019) – Due to ongoing expansion, Noble Home Loans is pleased to announce Dane Corrigan has signed on as the latest loan officer for the Las Vegas headquarters of Noble Home Loans.

 

Dane, an honors graduate from the University of Arizona, is a Las Vegas native. He has 2.5 years in the mortgage industry and another 10 years in real estate and finance, which gives him insight into both sides of the transaction. “I am excited to be working with Team Noble. I pride myself of being an active listener that can adapt to different personalities in a way that inspires confidence. This hands-on, customer-centric approach falls in line with Team Noble’s core beliefs and makes an excellent fit.” Dane notes.

 

About Noble Home Loans – With over 100 years of combined experience, Noble Home Loans is a correspondent lender serving Nevada, California, Arizona,Utah, and Washington. Offering the widest array of loans available has made Noble an industry leader in lending.

To learn more or to apply with Dane, click here.

January 18, 2019 by · Leave a Comment

Market Snapshot January 18, 2019

bridge

Good Friday A.M.,

 

Bond markets are clawing back from a moderate sized hole they’ve found themselves in for the past few days. The 10-yr is at 2.78%, it was as low as 2.58% just two weeks ago, if that is any indication of the trajectory we are on. The Treasury – Mortgage correlation is back in sync. Mortgages are off 6bps right now, but were off 18bps earlier. We are testing the lower end of the trading channel we are in and really need to hold close to here. The 10-yr did hit 2.80% and above 2.82% does open us up for a 3% 10-yr pretty quickly. No one wants that. The driver this week has been on rumors that the trade impasse with China is softening. A report breaking from Bloomberg News shared that China has offered to increase its annual import of U.S. goods over a six-year period with a combined value of over $1 trillion. The Dow has climbed over 300 points positive after the report and is no longer in a correction. The additional question is what does the market do when the government shutdown is over. It will end sometime.. Are we prepared? I suggest locking now and  floating down on improvement.

 

The University of Michigan Consumer Sentiment was released today showing its consumer-sentiment index dropped to 90.7 in January. This was much lower than 98.3 in December and below economist expectations of 97.5. The measures of current conditions and expectations both dropped to the lowest levels since October 2016. Independent consumer confidence surveys have more importance with the government shutdown and delay in government reporting because they offer a glimpse into consumer spending, which accounts for about two-thirds of U.S. economic activity. Market concerns are if the current shutdown will impact confidence and usage of disposable income with lost spending on retail services like restaurants, hotels, and travel. These concerns are coupled with some retail stores reporting lower sales from the holiday season and questions on if consumers have already spent their tax stimulus savings from last year.

 

Enjoy the long weekend and first, make today great!

January 18, 2019 by · Leave a Comment

Market Snapshot January 17, 2019

city_skyline

Good Morning on this fantastic Thursday,

 

Ground Hogs day for sure. Markets ended fairly flat yesterday. The 10-year yield opened around 2.74% and closed around 2.73%. MBS 4.0% improved by around 3 bps. The Dow ended the day down 10 points after being up 283 during the day and trading above 26,000. It was the biggest one-day reversal since Feb. 10, 2016.

 

The government shutdown continues to be the main driver in market volatility. The 10-year yield is trading in a tight range this morning, opening around 2.73% and currently 2.738%. The Dow is down 15 points this morning and MBS are down around 7 bps. You sense markets are coiling ready for the shutdown to be over to strike. The question is in which direction will they go. If the shutdown were to end today, I suspect stocks would rise taking rates with it however the longer the shutdown continues, the more likely the cost will derail stocks and give bonds a boost. It’s tough to be aggressive when there are no optics into the most important component of market volatility. I would suggest locking.. You can always float down if rates improve, but let’s see them improve first before we take chances.

 

Global news update is led by reports British Prime Minister May survived a no-confidence vote yesterday by 19 votes. She said she will now discuss options with different parties on a revised Brexit strategy. Continued data from China indicates a weakening economy and raises questions on the impact in attempting to reach a trade agreement with the U.S. At the core each country has targeted the other economy with tariff on billions of dollar of imports.

 

U.S news on the labor front is the Labor Department weekly unemployment claims showing initial claims decreased to a seasonally adjusted 213,000 for the week. Economists had forecast claims rising to 220,000. The data indicates little change in the labor market and would support future wage growth. However, future data will be impacted with the government shutdown. Approximately 800,000 government employees were not paid, with 380,000 being furloughed and probably will be counted as unemployed in future payroll data. The remaining 420,000 are working without pay.

 

The shutdown has delayed reports by the Commerce Departments’ Bureau of Economic Analysis and Census Bureau, including the housing starts and building permits report, which was scheduled for release on Thursday. November construction, factory orders and trade figures have been delayed, along with December retail sales and November business inventories data. At this time the fourth-quarter gross domestic report due on the 30th will not be issued.

 

Make today great!

January 17, 2019 by · Leave a Comment

Market Snapshot January 16, 2019

 

diving

Happy Wednesday,

 

Do you know what day it is? I love that camel. One more reason why Wednesday is the best day of the week.

 

Stocks rising this a.m., bonds are flat to down a bit. The 10-yr at 2.73% is not inspiring anyone to buy more Treasuries. It is teetering on the line of support/resistance and not sure which way it will go. The case for higher rates seems to be a bit more likely this a.m… 1) the Brexit vote failed miserably but no move to safer assets, 2) Stocks continue to inch higher and the Dow is close to being out of correction territory 3) the government shutdown is not moving more money into bonds and this leads me to think that when the shutdown is over, more money will likely move into stocks (at the expense of bonds). If the 10-yr drives past 2.75%, it likely won’t stop until it hits 2.82% 4) The S&P being over 2600 is a negative indicator for bonds 5) no trade talk updates. I don’t think the bond party is over, I just think there is a pause before we see some improvement from here. The data (what there was) today was weak… maybe the haze lifts and traders start buying bonds again but until that happens, I would recommend playing defense and locking loans. You can always float down if rates improve before closing.

 

Make today great!

January 16, 2019 by · Leave a Comment

Market Snapshot January 15, 2019

flowers_sunset

Happy Tuesday A.M.,

 

Both PPI and Empire Manufacturing missed expectations today. The FED will also be releasing its Beige Book this afternoon. Markets will be carefully looking for any economic hotspots. Despite a STRONG correlation, Mortgage Bonds and the 10-yr Treasury do not always move in lock step. Mortgage Bonds are up this morning on weak data, concerns about the Brexit vote, and a slowdown in China that continues to fester, however Treasuries are not seeing the same love. Maybe the higher yield and limited additional risk mortgages look better than a 2.7% Treasury note. Maybe that there has been a lot of corporate debt issuance recently is taking some thunder away from Treasuries. The bottom line is that Bonds are in a great position, and yes would benefit from Treasuries making another run, but let’s appreciate where we are now. A point of interest to watch with the 10-year yield is if it stays below 2.72%, and when the government reopens, if the correction resumes. Key levels to watch are 2.75% with a ceiling around 2.82%, and a floor for the yield would be around 2.62% to 2.60%. I believe that when the government reopens, there is a better chance of a risk on trade resuming which will not be bond friendly. Just be alert.

 

Here’s a talking point, a Bankrate survey shared that 4% of the population and 7% of Millennials say that buying a home in 2019 is their top financial goal.

 

 

Make today great!

January 15, 2019 by · Leave a Comment