DATE: Saturday, July 11, 2015
TIME: 10:00 a.m.
LOCATION: Sabathani Community Center, 310 E 38th St, Minneapolis 55409
Blog
Guest Post – Tradition Mortgage’s Weekly Update June 8, 2015
“Don’t rain on my parade.” Barbra Streisand. Record storms across the country didn’t stop job growth from surging in May.
Employers added 280,000 new jobs in May, above the 225,000 expected, as the labor markets continue to improve. After a brief falloff in March, job creations in May were well above the average monthly totals over the last year. Upward revisions to previous months also added 32,000 more jobs.
Job gains were seen in construction, retail and healthcare, while the mining sector continued to shed jobs due to the decline in oil prices. The unemployment rate ticked up to 5.5 percent from 5.4 percent, as more Americans returned to the job market to actively look for work.
While the strong Jobs Report is good news for our economy overall, the positive economic data caused Mortgage Bonds to worsen. As a result, Mortgage Bonds fell below a key technical level. This could mean more volatility is ahead, and a potential uptick in home loan rates if Mortgage Bonds can’t reverse this trend.
In housing news, research firm CoreLogic reported that annual home prices, including distressed sales, rose 6.8 percent from April 2014 to April 2015. This marks the 38th consecutive month of annual increases in home prices nationally. In addition, prices were up 2.7 percent from March to April, but they are still 9 percent lower than the peak back in April 2006.
The key takeaway is that home loan rates are still near historically low levels, making now a great time to consider a home purchase or refinance.
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
Guest Post – Tradition Mortgage’s Weekly Update June 1, 2015
Sales of newly constructed homes rebounded in April, up from the dip in March, as the spring buying season got underway. New Home Sales rose by 6.8 percent to an annual rate of 517,000, which was above the 510,000 expected. Since April 2014, sales are up a whopping 26 percent! The median price for a newly constructed home in April was $297,300, up 8.3 percent from a year ago.
Also of note, April Pending Home Sales increased 3.4 percent from March, while the S&P/Case-Shiller Home Price Index rose by 5 percent on an annual basis in March.
The news was less positive when it came the economy overall. The second reading of first quarter Gross Domestic Product came in at -0.7 percent, worse than the original reading of 0.2 percent. GDP is the broadest measure of U.S. economic strength, and is measured by the total value of all goods and services produced in a calendar year. In 2014, GDP grew by 2.4 percent, a decent number. The Federal Reserve expects GDP to grow by 2.5 percent for 2015, but the first quarter’s figures are not helping to meet this goal.
One benefit from the poor GDP reading is that it gave Mortgage Bonds a boost. This also helped home loan rates, which are tied to Mortgage Bonds, and which recently hit 2015 highs. With uncertainty continuing in Greece as it struggles to make a series of large debt payments, Mortgage Bonds and home loan rates could possibly see a benefit from safe haven trading in the coming weeks.
While market volatility is likely to continue, home loan rates still remain near historic lows and now is a great time to consider a home purchase or refinance.
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
Off Duty Work Opportunities
Good Morning Federation Members:
There are opportunities to work off-duty for ABM corporation directing traffic from 1600-1800, Monday-Friday. The pay is $50.00 an hour.
There are several openings due to promotion and change of shifts.
ABM pays by check on the 7th and 22nd of each month.
If you have any questions or want to apply for these positions, please let me know.
Thanks,
Sgt. Troy Walker
612-805-3005
Guest Post – Tradition Mortgage’s Weekly Update May 19, 2015
“Free. Free. Set them free.” Sting. Mortgage Bonds fell beneath a key technical level, finally managing to break free late in the week. But can they maintain an improving trend? Read on for details and all the latest headlines.
Retail Sales came in flat for April, as many consumers tucked away savings from lower gasoline prices, rather than spend money on big ticket items. Stagnant wages coupled with mixed feelings about the economy were a few reasons for the ease in spending. Other than the positive reading in March, Retail Sales have been negative in recent months. It will be important to see if spending picks up this summer.
There was some good news from the labor sector, as Weekly Initial Jobless Claims continue to hover near a 15-year low. And the Producer Price Index, which measures inflation at the wholesale level, came in lower than expected, down seven of the last nine months thanks to lower costs for food and gasoline.
Inflation remains tame, which is good news for Mortgage Bonds, as inflation reduces the value of fixed investments like Bonds. Tame inflation is also good news for home loan rates, as they are tied to Mortgage Bonds.
The markets have been volatile, but after a steep plunge, Mortgage Bonds rallied in the latest week. Home loan rates remain attractive, making now a great time to consider a home purchase or refinance.
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
Guest Post – Tradition Mortgage’s Weekly Update May 4, 2015
“The only people who never tumble are those who never mount the high wire.” Oprah Winfrey. After reaching higher levels at the end of 2014, Gross Domestic Product (GDP) tumbled in the first quarter of 2015.
The first reading for first quarter 2015 GDP fell to an anemic 0.2 percent, well below expectations and down from the 2.2 percent recorded in the fourth quarter of last year. All of the components within the report were weak, including consumer spending. The weak growth could be due in part to the West Coast port strike and the severe weather across much of the country earlier in the year.
GDP measures the value of the production of goods and services in the U.S. and is considered the largest measure of economic activity. This is an important report to look out for, as it is a key barometer of our economic growth and recovery. It could also be a key factor in the Fed’s decision regarding when to raise the Fed Fuds Rate (the rate banks charge each other for lending money overnight)—which could have a big impact on the markets and home loan rates later this year.
In the housing sector, the February Case Shiller Home Price Index showed that home prices rose by 5.0 percent on an annual basis, up from the 4.5 percent annual increase recorded in January. This was the fastest rate of annual growth in six months. From January to February, prices rose 0.5 percent.
The bottom line is that home loan rates remain attractive, and now is a great time to consider a home purchase or refinance.
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
Nordmeyer, Douglas D.
Nordmeyer, Douglas D. 88; Alexandria formerly of Minneapolis died Tues, 4/21/15. Visitation 1-3 PM on Sat, 4/25/15 at the Anderson Funeral Home in Alexandria. Survived by wife, Marjorie; daughters, Jill and Jan; preceded by Jeffrey. Memorials preferred to Douglas County Humane Society. Anderson Funeral Home www.andersonfuneral.net
Published on April 23, 2015
https://www.startribune.com/obituaries/detail/76219/?fullname=douglas-d-nordmeyer
Eberlein, Donald K.
Eberlein, Donald K. age 85 of Coon Rapids. Retired Mpls Police Officer. Survived by loving wife, Gertrude; sons, Don Jr. (Cathy), Dennis (Lynn), Dan; daughters, Wendy, Sandra (John); 10 grandchildren, 7 great-grandchildren; sister, Jolene (Mike). Memorial service Wednesday 11 AM at Mt. Carmel Lutheran Church, Ulysses St NE and St Anthony Pkwy. Inurnment Sunset. Visitation 1 hour before time of service. Memorials preferred to donor’s choice. www.Washburn-McReavy.com Northeast Chapel 612-781-6828
Published on April 14, 2015
https://www.startribune.com/obituaries/detail/74654/?fullname=donald-k-eberlein
Thompson, Robert Timothy “Bob”
Thompson, Robert Timothy “Bob” of Belle Plaine, formerly of Minneapolis, passed away April 6, 2015 at his residence. A memorial service will be conducted at 1:00 p.m. Friday, April 10th at Redeemer Lutheran Church, rural Henderson. Rev. Diane Goulson will officiate. A visitation will be held 4:00 – 7:00 p.m. Thursday at the Kolden Funeral Home in Belle Plaine and one hour prior to service time Friday at the church. Interment will be in Redeemer Lutheran Cemetery. Bob was born on December 9, 1941 in Minneapolis to Siver and Jaunita (Ross) Thompson. After graduating from Minneapolis Roosevelt High School in 1959, he served two years in the US Army. He married Verona “Mais” Boraas on August 10, 1963 in Dawson, Mn. After various jobs, from factories to dump trucks, he graduated from Police Rookie School and joined the Minneapolis Police Department. He served 25 years, retiring in 1995. After living and raising a family in Minneapolis, Bob and Mais spent time living in Bemidji and settled in Belle Plaine. Bob learned to fly and gained his private pilots license. After a long hiatus, he returned to flying later in life and enjoyed everything about aviation. Bob and Mais owned a cabin for many years and enjoyed the time and friends on Clear Lake in Watkins, MN. Bob had one son, Steve, and now two grandsons. Bob loved having the “boys” over, as long as they didn’t spill anything. The grandchildren had a hard time keeping up with Grandpa riding bikes and walking the dogs; both Bob’s dog, as well as many neighborhood adopted dogs he befriended over the years. Bob took great pride in being a police officer. After many years on the street, and a promotion to sergeant, he spent time in different investigative roles. He retired from the Robbery / Homicide division and enjoyed the job and serving the community immensely. After retirement, Bob and Mais enjoyed many activities and many, many good friends. Winters in Dauphin Island, Alabama provided a break from the cold. Summers were spent riding bikes, walking, visiting, and staying busy keeping everything in top shape. He was preceded in death by his parents and brother, Richard. Robert is survived by his wife, Mais, son, Steve (Melissa) Thompson of Independence, MN, grandsons, Jack and Nolan Thompson, sister, Mary Pat (Bill) DeGroodt of Huntington Beach, CA, many nieces and nephews and friends of all ages.
Published on April 9, 2015
https://www.startribune.com/obituaries/detail/73761/?fullname=robert-timothy-bob-thompson
Burkland, David L.
Burkland, David L. age 75, of Elk River, passed away at noon on Easter Sunday, 2015.A Proud Marine, National Guard and Minneapolis Police Officer for 25+ years, Retired 1996. David was an athlete, handyman, mechanic, hard-working father and devoted to his family. He always worked extra jobs to provide for his wife and 5 kids. He loved street rods and built his ’38 Chevy in a 1 1/2 stall garage in the early 1980’s. David grew up in NE Mpls, graduated from Edison High 1957 where he lettered in hockey and married (for 56 years) classmate Liz Brindley. Survived by brother, Nat; sister, Cheryl; sons, Scott (Julie), Bill (Donna), Dan (Paula), Paul (Anne); daughter, Betsy; grandchildren, Veronica, Clayton, Jessica, Grant, Tori, Dan Jr., Samantha, Andrew, Raekeya, and Ellese; and 3 great-grandchildren. David loved get-togethers with family, friends, dancing with the gals, and Italian food. It was his favorite! Special thanks to all the caregivers who helped Dad over the last 7 months. Preceded in death by parents Carl Henry and Dorothy, wife Liz, and brother Richard. We will greatly miss his harmonica playing and his unique sense of humor. Rest in peace Pops, we LOVE you! Reception following service at Coon Rapids VFW. Visitation Thursday, 4/23/15, 4-7 PM and one hour prior to service. Memorial service Friday, 4/24/15, 11 AM at: www.Washburn-McReavy.com Coon Rapids Chapel 763-767-1000 1827 Coon Rapids Blvd.
Published on April 19, 2015
https://www.startribune.com/obituaries/detail/73443/?fullname=david-l-burkland
