Is your work, great work?

I’m headed out the door soon for a business meeting in Ventura, so my note will be short and sweet. In fact, by the time you read this, I’ll probably be cruising on the 126. And yes, I may stop and enjoy the ocean view for a bit.

I thought since it’s Friday, I’d leave you with a great quote about work:

Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.

-Steve Jobs

Have you found it yet? I hope so!

Have a wonderful weekend!

Onto the market update…

It seems that the presidential election is in the driver’s seat in the minds of investors. Many experts were expecting the Fed to raise interest rates at this week’s Fed meeting. Despite the Fed decision to leave rates where they are, the markets reacted with little more than a yawn. The stock indexes remained little changed since the announcement.

What seems to be driving the market is speculation on who our next president will be. The country is very clearly divided on who will be best to serve as President, and who will be the right person for economic growth. (At this point I am so disgusted with the negative campaigning it will be a relief just for it to be over next week)

In previous Fed meetings, the language often used would give insight into the Fed’s plan for rate adjustments. This past meeting, there appears to be very little in the way of wording that gives any indication on when the Fed will take action to raise rates. The Fed continues to express concern about international influences that can negatively impact the U.S. economy, as well as on-going mixed economic data from housing to manufacturing here in the United States.

ADP’s employment report points to less growth in the labor markets for the month of October. On Friday, the labor department will release their numbers, and they too are expected to show weakness. You may recall that last month’s report came in weaker than expected and many analysts feel that there may be a slowing in the growth of the labor force.

First time jobless claims continue to remain very low which leads many to believe that we are not far from what is considered full employment. This being the case, has experts believing that the ability for the labor force to continue to grow at a healthy pace is limited because of the lack of people available in the talent pool.

As mortgage rates continue to creep higher, loan volume inches lower. The Mortgage Bankers Association of American reported that for the week ending October 28th, applications for purchases and refinances both declined by 0.4 percent and 2.0 percent respectively. Purchase applications, however continue to be higher by 9.0 percent from the same time last year.

Furthering the Fed’s concern about a slowing economy, construction spending declined 0.4 percent for the month of September. The bright side of the report is that residential construction rose by 0.5 percent and remains just under 1.0 percent higher than from the same time last year.

Next week’s potential market moving reports are:

Monday November 7th – Labor Market Conditions Index

  • Tuesday November 8th – Job Opening and Labor Turnover Report
  • Wednesday November 9th – MBA Applications
  • Thursday November 10th – First Time Jobless Claims
  • Friday November 11th – Consumer Sentiment


As your mortgage and real estate professional, I am happy to assist you with any information you may need regarding mortgage or real estate trends. I welcome the opportunity to serve you in any way I possibly can. Please feel free to reach me at 661-618-1789.