Newrise Financial

Financial services firm dedicated to providing consumers the most cost efficient acess to capital markets via loans and investment advisory.

[Newrise Financial @newrise]

Case-Shiller home price index up 0.5% m-o-m in May, still down 17.1% y-o-y, but the first month increase in 3 years

[Newrise Financial @newrise]

US consumer confidence down to 46.6 in July vs 49.3 in June, lower than the 49.0 expected

[Newrise Financial @newrise]

Mortgage rates diving lower past few days, we are seeing 30-year below 5% for the first time in 4+ weeks

[Newrise Financial @newrise]

Unemployment claims fell 52,000 last week to 565,000, lowest data point this year. Continuing claims creeped higher as rate topeed 9.5%

[Newrise Financial @newrise]

Interesting data point on global economy: during the Jan-May period, home sales in China were up 45% from same period in 2008

[Newrise Financial @newrise]

Continuing claims ticked higher to 6.8 million. This, combined with claims above 600,000 / week continues to be horrendous in our view

[Newrise Financial @newrise]

Jobless claims this week "fell" to 601,000 from 625,000 last week. This is slightly lower than expected

[Newrise Financial @newrise]

Just to recap the disaster we have seen in mortgage rates over the past week: 30-year up 0.75% to 5.50%!! Certain to impact home sales

[Newrise Financial @newrise]

We are very cautious about buying the market up here, we prefer non-US$ equities. Rates are selling off sharply, highest since October

[Newrise Financial @newrise]

Nonfarm payrolls for May were down 345,000, well below expectations. However, lack of new employment pushed the unemployment rate to 9.4%

[Newrise Financial @newrise]

Freddie Mac reported average mortgage rates of 4.91% + 0.7 points (30-year) and 4.53% + 0.7 points (15-year). Up 9 bps & 3 bps this week.

[Newrise Financial @newrise]

The steepening of the Treasury market hurt mortgage rates, as the average rate climbed 0.26% to 5.29%

[Newrise Financial @newrise]

Ugly selloff in Treasury rates yesterday as the 2-10 yield curve spread widened to 2.75%, its highest ever

[Newrise Financial @newrise]

Freddie Mac reported average mortgage rates of 4.82% + 0.7 points (30-year) and 4.75% + 0.7 points (15-year) during the past week

[Newrise Financial @newrise]

Weekly jobless claims came in at 631,000, worse than expected. Continuing claims stand at 6.7 million, a big disappointment

[Newrise Financial @newrise]

Weekly jobless claims came in at 637,000, there was clearly hope that we would break below 600,000 this week

[Newrise Financial @newrise]

Retail sales in April were down 0.4%, market expected a 0.1% increase. March number was revised lower by 0.1% to 1.3%

[Newrise Financial @newrise]

Median home price in the US was $169,000 in the first quarter, down 14% from last year

[Newrise Financial @newrise]

Unemployment rate now at 8.9%, obviously not a good headline number

[Newrise Financial @newrise]

Change in nonfarm payrolls at -539,000 in April, lower than the -600,000 expected, but neutral considering last month was revised by -36,000