Blog

Berkeley, David

Berkeley, David W. age 68, of Eden Prairie, passed away on December 2, 2015, after a courageous six-year battle with lung cancer and COPD. His wife Jackie lovingly cared for him as his angel on Earth. David was preceded in death by his parents, William and Betty Berkeley. He leaves behind the legacy of his son David, daughters Jodie, Angie, Nicole, and Michelle, 14 grandchildren, and three great grandchildren. He is also survived by his siblings Sherry, Robin, and Willie, and many other cherished family and friends. David grew up in Northeast Minneapolis, was a member of the National Guard, and went on to proudly serve as a Minneapolis police officer for 28 years. He loved spending time with family, being at the lake, tending to his flowers (especially his roses) & plants, bird-watching, playing with his dogs, cheering on his Vikings & Twins, bowling; playing darts, cribbage, and cards; watching Old Westerns, Shirley Temple, and the Rocky movies; and dancing and singing along to the music of the old-time legends. A special thanks to the Fairview Medical physicians and staff – hospitals, clinics, home care, and hospice – who cared for David over the years, and to his caring neighbor, whom he called “My Pattie.” A Celebration of Life will be held on Saturday, December 12, 2015 at 12:00 PM at Pinstripes, 3849 Gallagher Drive, Edina, MN, 55435. Memorials are preferred to Richard M. Schulze American Cancer Society Hope Lodge or Fairview Home Care & Hospice.

Published on December 5, 2015
https://www.startribune.com/obituaries/detail/112952/?fullname=david-w-berkeley

Oly, Richard

Your wings were ready but my heart was not. Richard Eugene Oly passed from this world on Monday, December 1, 2015 at 11:24 pm and entered into the kingdom of God to join those who have gone before and wait for those of us yet to be called. Richard was a kind and generous man. He had a great love for home-life, the Florida sun, animals of all kinds, playing the piano and repeating his funny jokes. Richard leaves behind his beloved wife, Rosemary McNally-Oly, his step children, Cynthia Theisen (Daytona Beach), Charles and his wife, Rose Theisen (Green Valley, Arizona), Richard and his wife, Kathy Theisen (Brooklyn Center, Minnesota), and Nancy Sue and her husband, Guy Parent (Ormond Beach). Many step grandchildren and three step great grandchildren. They all loved him and he loved them. Having each been alone for many years, Richard and Rosemary met through mutual friends and soon became a couple. In 1996, he moved from Waite Park, MN to Osteen, FL where they married and had 20 happy years together. Their home for the past 10 years was Ormond Beach, FL where Richard belonged to many organizations, but he loved spending time at home playing the piano and enjoying the pool and sun. Richard was born on April 27, 1926 in St Petersburg, Fl. to his now-deceased parents, Henry Oly and Catherine (Halama) Oly. When he was two he moved to Minnesota where his mother had a boarding home. He married his first wife, Marilyn on December 26, 1953, and together they had three children – Greg Oly, Suzy Osum and Grant Oly. Other survivors include Greg’s soon to be wife, Lisa Lilligren, Greg’s daughter, Alaina Oly and step daughters, Amanda and Erin Guyette, Suzy and Chuck Osum’s children, Grant and Marie Osum, all reside in Minnesota and Wisconsin. Richard also has a few cousins; Suzy Amos, Jerry Quinn, James and Michelle Smirth and Patricia Johnson. Richard’s children remarked that he was a dedicated father and often worked three jobs to give his children what he never had. Richard and all of his children were involved in speed skating, won many trophies and continue to maintain several sporting endeavors. At age 17, Richard joined the Navy and later joined the Marine Corps. He was an decorated military veteran with 43 years of service through both the 2nd World War and Korean War. He was wounded twice during his service and he received two Purple Hearts and a Silver Star. He was the president of the Upper Midwest Chapter of the Chosin Few in 1977-1978. While a member of the reserves, he served as a Chief Warrant Officer, and also spent 20 years with the City of Minneapolis Police Department. He was twice honored at the White House by Presidents Ronald Regan and Bill Clinton. In 2014, he was honored by Governor Scott at the Emery Bennett Nursing Home where he was an Alzheimer’s patient for the past four years. A Mass to remember Richard’s life will be held at 9:30 a.m. at Prince of Peace Catholic Church, 600 S. Nova Rd, Ormond Beach. Following the Mass, there will be a Marine Corp Honor Guard ceremony at the Bellevue Memorial Cemetery at 1433 Bellevue Ave. in Daytona Beach. Luncheon to follow at the Amerigion Legion post 267 at 157 New Britain Ave., Ormond Beach. It would be an honor to have any retired WWII and Korean War veterans attend the Mass and Honor Guard Ceremonies. A Memorial Mass for Richard E. Oly will be held on Thursday December 10, 2012 at 9:30 am at Prince of Peace Catholic Church in Ormond Beach followed by Niche placement at Daytona Memorial Park with full Military Honors. In lieu of flowers, donations can be made to the Alzheimer’s Association or the Humane Society.

https://www.legacy.com/obituaries/news-journalonline/obituary.aspx?pid=176807109

Switzer, Donald

Switzer, Donald B. age 85, of St. Anthony, passed away peacefully at home on 10/14/15. Donald is survived by his wife of 65 years, Juanita; children, Thomas, Julie, Brian, Nancy, and Suzette; 7 grandchildren, and 5 great grandchildren. Donald was a veteran of the U.S. Airforce, and was a Minneapolis police officer for 20 years. Funeral services will be held Friday, October 30. Visitation will be at 10 AM, with service following at 11 AM at Billman-Hunt Funeral Chapel, 2701 Central Ave NE. Burial at Fort Snelling. Billman-Hunt Funeral Chapel, 612-789-3535.

Published on October 27, 2015
https://www.startribune.com/obituaries/detail/106956/?fullname=donald-b-switzer

Guest Post – Tradition Mortgage’s Weekly Update June 6, 2016

Rates Helped by Weak Jobs Report

The important monthly jobs report released on Friday was a big disappointment. Against a consensus forecast of 160K, the economy added just 38K jobs in May, which was the lowest level since September 2010. Job gains over the past three months averaged just 116K, far below the average monthly gains of 219K over the prior twelve months. The weak report dispelled fears of any immediate fed rate hike, and mortgage rates dipped on the news.

There were few surprises resulting from Thursday’s European Central Bank (ECB) meeting. There was no change in policy. Comments from ECB President Draghi indicated that the ECB expects to maintain loose monetary policy for a long time. Investors viewed the continued dovish ECB stance as better than the alternative, and global bond yields (including mortgage bonds) moved lower after the meeting.

image001
Week Ahead

Factors:Fed Chair Janet Yellen will be giving a speech today. Productivity will be released on Tuesday. The JOLTS report will come out on Wednesday. JOLTS measures job openings and labor turnover rates.
Volatility:        Moderate
Trend:            Neutral
This information is intended for professional reference only, and not intended for consumer use. Additional qualifications and disclosures apply.

Have a great day!

Jim Krantz
Vice President
NMLS # 761955
Jim.Krantz@TraditionLLC.com
Direct 952.252.4488 / Cell 612.716.9999 / Fax 952.252.4489

Guest Post – Tradition Mortgage’s Weekly Update May 31, 2016

The market for both previously owned homes and newly built homes saw their best activity in years. Improved labor market conditions and low mortgage rates are a great combination to support a very active housing market. The Pending Home Sales Index, which measures the number of contracts signed to buy previously owned homes, jumped in April by 5% over March, to the highest level of activity since February 2006. Similarly, the New Home Sales report, which measures the number of contracts signed to buy newly built homes, surged by 17% over March, to its best level since January 2008.

The Fed has stated that the decision on when to next hike the federal funds rate will depend on the incoming economic data. This week’s data certainly increases the chance of a rate hike in the near term. Besides the strong housing data, Durable Goods orders rose in April by much more than expected. Orders jumped 3.4% from March when an increase of only 0.5% was expected. April data combined with higher revised March orders shows that demand for big ticket items is high and that there is confidence in improved future economic activity.

image001
Week Ahead
Factors: The important monthly Employment report will be released on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month.
Volatility:        Moderate
Trend:            Increasing
This information is intended for professional reference only, and not intended for consumer use. Additional qualifications and disclosures apply.

Have a great day!

Jim Krantz
Vice President
NMLS # 761955
Jim.Krantz@TraditionLLC.com
Direct 952.252.4488 / Cell 612.716.9999 / Fax 952.252.4489

Guest Post – Tradition Mortgage’s Weekly Update May 23, 2016

Fed Comments Reveal Plan for Rate Hike

Speeches made by Fed officials during the first part of the week alerted investors that the Fed may be much closer to another federal funds rate hike than investors expected. On Wednesday, the release of the minutes from the April 27 Fed meeting confirmed this. In the minutes, Fed officials made it clear that they will consider raising rates as soon as June if economic conditions continue to improve. Investors currently view tighter Fed policy as negative for mortgage rates, so rates rose as the Fed’s position became better understood. Rates ended the week higher as a result of the news.

One factor supporting the case for tighter monetary policy is stronger than expected improvement in the recent housing data. Existing home sales in April rose for the second straight month and were 6% higher than a year ago. Inventories of existing homes available for sale jumped 9% from March. Sales of existing homes make up about 90% of the market. Housing starts, an indicator of future sales activity for newly built homes, increased 7% in April from March.

image001
Week Ahead
Factors: New home sales data will be released on Tuesday. Durable orders and the pending home sales data will come out on Thursday. The second estimate of first quarter GDP, the broadest measure of economic growth, will be released on Friday. Several Fed officials are scheduled to make speeches this week as well.
Volatility:        Moderate
Trend:            Neutral

Have a great day!

Jim Krantz
Vice President
NMLS # 761955
Jim.Krantz@TraditionLLC.com
Direct 952.252.4488 / Cell 612.716.9999 / Fax 952.252.4489

Guest Post – Tradition Mortgage’s Weekly Update May 16, 2016

Solid Retail Sales

After a slow start to the year, Friday’s report on retail sales went a long way to increase optimism about stronger economic growth during the second quarter. April core retail sales jumped 0.8% from March, which was far more than expected. It was the largest monthly gain in nearly a year. The results for March also were revised higher. As a result, mortgage rates ended the week a little higher, but they remain near the best levels of the year.

In labor related news, nice gains were seen in the JOLTS report, which measures job openings and labor turnover rates. The JOLTS report helps to provide a broader picture of the performance of the labor market. Job openings in March increased to levels which were very close to record highs. Continued improvement in employment creates wage pressure on businesses, which is a good thing for employees, but is also an inflationary element and pushes rates upward.

image001

Week Ahead
Factors: 
The two biggies this week are: The Consumer Price Index (CPI), a widely followed monthly inflation report, will come out on Tuesday. CPI looks at the price change for goods and services which are sold to consumers. The Fed Minutes from the April 27 meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials and have the potential to significantly move markets.

Volatility:        Moderate
Trend:            Neutral

Have a great day!

Jim Krantz
Vice President
NMLS # 761955
Jim.Krantz@TraditionLLC.com
Direct 952.252.4488 / Cell 612.716.9999 / Fax 952.252.4489

Tradition Mortgage LLC
NMLS # 286998
4350 Baker Rd Suite 190 / Minnetonka, MN 55343 / www.TraditionWest.com

APPLY NOW

Guest Post – Tradition Mortgage’s Weekly Update May 9, 2016

Ho Hum Job Report Leaves Market in Limbo

The most highly anticipated economic report of the month contained just minor surprises. Against a consensus forecast of 200K, the economy added 160K jobs in April, and downward revisions to prior months subtracted another 19K. Although still in positive territory, this was the smallest monthly increase in jobs since last Sept.

Average hourly earnings, an indicator of wage growth, was the lone bright spot at 2.5% higher than a year ago. The weakness in job gains was offset by the strength in the wage data, and the report caused little change in mortgage rates.

In global news, the European Commission, cut its growth forecast for the Eurozone for 2016 and 2017. The data from China released last Tuesday also was disappointing. China’s PMI manufacturing index fell more than expected to a level suggesting contraction. When global economic growth slows, it reduces the outlook for future inflation, which is positive for mortgage rates.

image001

Week Ahead

Factors: The JOLTS report will be released on Tuesday. JOLTS measures job openings and labor turnover rates. The report on retail sales will be released on Friday. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator.

Volatility:        Moderate
Trend:            Neutral

Have a great day!

Jim Krantz
Vice President
NMLS # 761955
Jim.Krantz@TraditionLLC.com
Direct 952.252.4488 / Cell 612.716.9999 / Fax 952.252.4489

Tradition Mortgage LLC
NMLS # 286998
4350 Baker Rd Suite 190 / Minnetonka, MN 55343 / www.TraditionWest.com

APPLY NOW

May 9, 2016 – President Kroll was a guest on the Chad Hartman Show discussing the “slowdown” of policing on the Department.

May 9, 2016 – President Kroll was a guest on the Chad Hartman Show discussing the “slowdown” of policing on the Department. (His guest time slot starts at 16:30 minutes)

https://minnesota.cbslocal.com/audio/the-chad-hartman-show/5-9-16-2p-chad-hartman-show-lt-bob-kroll/#.VzHqV0oDFtw.facebook

Police Officers Federation of Minneapolis Calls on City Leaders to Stop Grandstanding on Public Safety

Instead make the investments necessary to protect the residents, business and visitors to Minneapolis

Contact:
Carl Kuhl
carl@connollykuhlgroup.com
651.245.9313

STATEMENT
MAY 5, 2016

(MINNEAPOLIS, MN) – Today, Bob Kroll, President of the Police Officers Federation of Minneapolis, called on City Leaders to stop grandstanding on public safety and instead make the investments necessary to protect the residents, business and visitors to Minneapolis. “Last night alone, eight people were shot, one fatally and two in critical condition. All of the victims are African-American and all were involved in gang-on-gang violence,” said Kroll. “City leaders and others like Black Lives Matter are quick to step in front of a camera when there is an officer involved shooting but where are those voices now? Their silence is not only deafening, it’s hypocritical,” continued Kroll.

President Kroll reminded city leaders that Minneapolis Police Officers have been working without a new contract for nearly a year and a half. “The police department is short staffed and that not only endangers police officers, that endangers everyone living, working and visiting the city,” explained Kroll. He furthered explained, “shifting officers from one precinct to the next in a desperate attempt to fill gaps is not a solution. The reality is this city needs 150 more officers to provide the level of service the people of Minneapolis expect and deserve. We need elected officials who understand this, who understand public safety and who are committed to doing the right thing. We don’t need more grandstanding.”

Police Officers Federation of Minneapolis
P.O. Box 18187
Minneapolis, MN
55418