Tomorrow morning brings us the release of the preliminary reading of the 3rd Quarter Gross Domestic Product (GDP). The GDP is considered to be the benchmark measurement of economic growth because it is the sum of all goods and services produced in the U.S. and is likely to have a major impact on the financial markets and mortgage pricing. There are three versions of this report, each a month apart. Tomorrow’s release is the first and usually has the biggest impact on the markets. Current forecasts call for an increase of approximately 3.1% in the GDP. I think we need to see a smaller increase for the bond market to rally and mortgage rates to drop. Just matching the estimate will probably bring a stock market rally and could cause mortgage rates to rise.

Posted: October 30th, 2007 under Mortgage Industry.
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The New USNWC, Unites States National Whitewater Center, offers  a man-made whitewater river (largest in the world) mountain bike trails, hiking trails, outdoor climbing center and more.  This center is located only 15 minutes from uptown Charlotte and gives you a sense of really being out in the wilderness while you are there. 

The center offers raft trips, Kayak instruction, kayak passes for the experienced boater and more.  It is really a fantastic place to visit, I am a paddler myself, the whitewater is a little pushy in a kayak but is fine for the intermediate to advanced boater.  The rapids are ranked from class II to Class IV.  Come out to the center, I hope to see you on the water!!

Posted: October 25th, 2007 under Things To Do, Restaurants.
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A compromise has been reached on easing the Fannie Mae and Freddie Mac portfolio limits, with Democrats in the House and Senate agreeing to okay legislation that would allow the government-sponsored enterprises to boost mortgage holdings by 10 percent for a period of six months.

House Financial Services Committee Chairman Barney Frank (D-Mass.) who will introduce the bill in the House believes large-scale reform efforts will not be impeded by a temporary lifting of the portfolio caps. Of the combined $148 billion increase in mortgage holdings, $125 billion would be devoted to assisting sub-prime borrowers in refinancing out of costly adjustable-rate loans.

Posted: October 22nd, 2007 under Politics, Legal, Mortgage Industry.
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If you are living, or considering residing, in the North area of Charlotte, Birkdale Village Town Center off of I 77 Exit 25 is definitely a place you will want to check out. 

The center offers an array of dining choices, many different clothing stores from your basic Dicks sporting goods up to the higher end Banana Republic and Victoria’s Secret.  There is also a movie theatre, coffee shops, and live entertainment on certain nights.  Check it out, it is definitely a place of interest when visiting Charlotte North Carolina, and something to keep in mind if considering real estate in the Northern Quadrant of Charlotte NC.

Posted: October 19th, 2007 under Things To Do.
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