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LaDuke, James T.

0000067994-01-1LaDuke, James T. Age 68, of Elk River, passed away on Feb 28, 2015. Veteran of the US Army, US Marines, and National Guard. Retired Minneapolis and Elk River Police Officer, serving his community over 23 years. Preceded in death by his parents; grandson, Nicholas Roche-ford. Survived by his wife of 47 years, Carol; children, Jennifer (Scott) Pulkrabek, Michael (Karen), Rochelle (Mike Weiden) LaDuke, Jamie (Bryan) Rocheford; grandchildren, Dan, Jacob, Sarah, Abigail, and Steven; brother, Rick (Lynde); other family and many friends. Mass of Christian Burial will be at 1 PM Fri., Mar 6 at The Church of St Andrew (763-441-1483), 566-4th St NW, Elk River, with visitation 1 hour prior to service. Visitation also on Thur., Mar 5 from 5-8 PM at Dare’s Funeral Home, 805 Main St, Elk River. In lieu of flowers, consider making a donation to the Joshua Frase Foundation or Wishes & More. 763-441-1212 www.daresfuneralservice.com

Published on March 4, 2015

https://www.startribune.com/obituaries/detail/67994/?fullname=james-t-laduke

Guest Post – Tradition Mortgage’s Weekly Update April 27, 2015

“I don’t know why I go to extremes.” Billy Joel. Temperatures may be warming across much of the country, but the extreme weather from this winter is still impacting some areas of the housing sector.

4-27-15Existing Home Sales in March surged by 6.1 percent from February to an annual rate of 5.19 million units. This was the largest monthly increase since December 2010. Sales are also up 10.4 percent from a year ago. Lawrence Yun, the National Association of REALTORS® chief economist, noted, “After a quiet start to the year, sales activity picked up greatly throughout the country in March.”

On the flip side, New Home Sales in March unexpectedly declined as sales fell 11.4 percent from February to an annual rate of 481,000 units. This is a stark contrast to the 543,000 units recorded in February, which was the strongest performance for new home sales in seven years. The harsh winter weather in January and February shut down construction sites, and that had an impact on March’s figures. We will have to see if new home sales are further curtailed heading into the spring home buying season.

Also of note, Fannie Mae released its April 2015 Economic and Housing Outlook, revealing that economic activity was suppressed in the first quarter, largely due to the West Coast port disruptions and difficult weather patterns that gripped a large portion of the Northeast. Now that spring has arrived, it will be important to see if economic activity blooms along with the weather.

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

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Guest Post – Tradition Mortgage’s Weekly Update March 31, 2015

“You take the good, you take the bad.” The Facts of Life. That television series theme song also applies to recent economic news, as housing is a bright spot while economic growth overall remains sluggish.

4-1-2015New Home Sales surged in February, rising 8 percent from January to an annual rate of 539,000 units, while January’s sales were revised higher to 500,000. New Home Sales now stand at their best level since February 2008 and are up nearly 25 percent from the 432,000 recorded in February 2014. The report also showed that the median sales price for new homes was $275,500, up 2.6 percent from a year ago.

Existing Home Sales also rose by a modest 1.2 percent in February, to an annual rate of 4.88 million units, which was just below expectations. Low inventories were said to be a key factor in price growth, which rose at the fastest pace in a year.

However, growth for our economy overall is still sluggish. The final reading on fourth quarter 2014 Gross Domestic Product (GDP) was unchanged from the second reading, coming in at 2.2 percent. This was well below the 5 percent recorded in the third quarter of last year. For all of 2014, GDP was 2.42 percent, which is disappointing considering we are six years into our economic recovery. One positive item to note from the report: Consumer spending rose to 4.4 percent, which is the fastest rate since the first quarter of 2006.

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

Guest Post – Tradition Mortgage’s Weekly Update – March 16, 2015

Housing and manufacturing reports are front and center this week. Plus, the Fed meets.

  • Manufacturing data from the Empire State Index will be released on Monday, followed by the Philadelphia Fed Index on Thursday.
  • In housing news, Monday brings the NAHB Housing Market Index for March. On Tuesday, look for February’s Housing Starts and Building Permits.
  • As usual, Weekly Initial Jobless Claims will be delivered on Thursday.

In addition, the two-day Federal Open Market Committee meeting will begin on Tuesday and end on Wednesday with the 2:00 p.m. EDT release of the monetary policy statement. Investors will be listening closely for any rhetoric regarding future rate hikes, and this news always has the potential to be a market mover.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based.

When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse.

To go one step further—a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.

As you can see in the chart below, Mortgage Bonds rebounded in recent days due to weaker than expected economic data and weak wholesale inflation. Home loan rates remain near historic lows.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday Mar 13, 2015)
march_17

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 March 10, 2015

Economic reports don’t begin until Thursday, but the end of the week features several key data points to note.

  • Weekly Initial Jobless Claims will be released on Thursday, as usual.
  • Also on Thursday, Retail Sales for February will be released.
  • Friday brings the Producer Price Index, which measures wholesale inflation, along with the Consumer Sentiment Index.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based.

When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse. 



To go one step further—a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.

As you can see in the chart below, Mortgage Bonds have declined recently. Home loan rates remain attractive and I will continue to monitor them closely.

Chart: Fannie Mae 3.0% Mortgage Bond (Friday Mar 06, 2015)

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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 March 2, 2015

They say that March comes in like a lion, but recent housing reports have sounded more like a whimper than a roar.

image002Existing Home Sales slipped in January, coming in below expectations. The annual rate of 4.82 million units was the lowest level since last April as tight inventories, seasonal weather and the ongoing rise in prices kept buyers out of the market. Despite the decline, sales are up by 3.2 percent from a year ago. And while New Home Sales in January were flat, the overall pace of sales hovers near a six-year high as the economy and job market continue to improve. Sales of new homes are up a solid 5.3 percent from a year ago.

Also of note, home prices around the nation rose by 4.5 percent from December 2013 to December 2014, as home price appreciation values are now near more normal sustainable levels. From November to December, prices rose by 0.9 percent, the largest advance since March.

The second reading of Gross Domestic Product for the fourth quarter of 2014 fell to 2.2 percent from the 2.6 percent recorded in the first reading. For all of 2014, GDP grew by just 2.4 percent, compared to 2.2 percent in 2013 and 2.3 percent in 2012. These numbers aren’t ones to write home about, as an annual rate of 3.5 percent is considered strong. GDP is the broadest measure of economic activity, and it will be important to see if 2015 can achieve higher growth.

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

APPLY NOW

Guest Post – Tradition Mortgage’s Weekly Update February 23, 2015

“I knew the record would stand until it was broken.” Yogi Berra. Record low temperatures have hit much of the nation, but that’s not the only chill in the air.

image001January Housing Starts fell by 2 percent from December to an annual rate of 1.065 million units. The weaker than expected numbers were due in part to a big decline in single-family homes, as student debt, tight credit conditions and rising prices have kept some first-time homebuyers from entering the market.

Housing Starts peaked in early 2006 at an annual rate of 2.27 million units. They subsequently fell to 500,000 units in 2009, during the height of the recession. On the positive side, in this latest report Housing Starts are up 19 percent from this time a year ago.

Building Permits, a sign of future construction, also came in below expectations at 1.053 million in January, while the February National Association of Home Builders Housing Market Index declined 2 points to 55. Readings above 50 mean that builders are positive about market conditions, so at least the decline didn’t cross that important threshold.

In other news to note, wholesale inflation remains tame, dropping the most in one month since November 2009 thanks to falling gas prices. Low inflation is Bond-friendly news, since inflation reduces the value of fixed investments like Bonds. And since home loan rates are tied to Mortgage Bonds, low inflation is typically beneficial for rates as well. Also helpful for Bonds and home loan rates: Greece’s debt woes and the continued fighting in Ukraine means investors see our Bond markets as a safe haven for their money.

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

APPLY NOW

Miller, Gordon J., Jr.

miller_gordonMiller, Gordon J., Jr. Age 79, of St. Louis Park. Born August 1935. Passed away on December 29th, 2014. Retired 30 year Minneapolis Police Officer, Detective Lieutenant, Veteran U.S. Army; Korea, Lifetime member NRA, LEAA, Minneapolis Police Retirement Association, FOP. Graduate of Mpls Southwest High School. Gordy was proud to be a husband, father and grandfather. He enjoyed life, seeing his kids grow up, especially watching his boys play hockey. Survived by loving wife of 50 years, Maryann (nee Kosmoski); daughter, Lora Seery (husband John); sons, Jeff (wife Gea) and Matt; along with grandchildren Jordan, Hudson, and Hazel. Interment will be at a later date at Ft. Snelling National Cemetery. Visitation 3-5 pm Sunday, January 4 at: www.Washburn-McReavy.com Edina Chapel 952-920-3996 Hwy 100 at West 50th St., Edina

Published on January 4, 2015
https://www.startribune.com/obituaries/detail/56752/?fullname=gordon-j-miller,-jr

Hulke, DeWayne “Red”

Hulke, DeWayne “Red” Age 80, of Minneapolis. Passed away on December 24, 2014. Preceded in death by wife, Barbara; children, Joy Annette, Todd; grandson, Zachary. Survived by children, Ellen (Joe), Jacquelyn (Brian), Brett (Debbie); grandchil dren, Trevor (Missy), Megan, and Ryan; great-grandchildren, Kaitlyn, Cody and Alexis; sisters, Gwen (Tom) and Maddy and many nieces, nephews and extended relatives and friends. U.S. Navy, former Ford Plant employee, Minneapolis Police Officer, city of Clarissa Police Chief, and Todd County Deputy Sheriff. Red enjoyed golfing, bowling and spending time with his family and friends. A funeral service will be held Tuesday, December 30, 2014 at 10:30 AM at BRADSHAW (McDivitt-Hauge), 3131 Minnehaha Ave. S., Minneapolis with a visitation one hour prior to the service. Interment Fort Snelling National Cemetery. Memorials preferred to Muscular Dystrophy Association. Bradshaw 612-724-3621

Published on December 28, 2014
https://www.startribune.com/obituaries/detail/56448/?fullname=dewayne-red-hulke

Carlson, Robert J.

carlson_robertCarlson, Robert J. 93 of Mound. Passed away peacefully surrounded by family on Dec. 13. 2014 at Hillcrest of Wayzata. Though it was a gloomy day, the sun came out briefly to usher him home. Preceded in death by his wife Genevieve, son James, sisters Susie Shultz and Elsie Wipper-Granlund. Survived by children Richard (Carole) Carlson, John (Debbie) Carlson, Wendie Carlson and Peter (Suzy) Carlson; grand-children Mark, Stefaney, Lonaiah, Lyndsay, Shaynah, Katie and C.J.; 14 great-grandchildren; and companion Rita Johnson. Bob was a devoted Lutheran, animal lover and was loved by many friends, neighbors and family members. In his final months, he charmed and thanked each caregiver, winning the hearts of many. Memorial service at 11 AM, Thursday, Dec. 18, 2014 at St. John’s Lutheran Church, 2451 Fairview Lane, Mound. Visitation, from 5 to 8 PM, Wednesday, Dec. 17 at the Huber Funeral Home, 1801 Commerce Blvd., Mound and one hour prior to the service on Thursday from 10 to 11 AM at the church. Private family interment at Lakewood Cemetery. In lieu of flowers memorials are preferred to your local Humane Society or SPCA. Huber Funeral & Cremation Services Mound Chapel 952-472-1716 www.huberfunerals.com

Published on December 16, 2014
https://www.startribune.com/obituaries/detail/54485/?fullname=robert-j-carlson

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