Richard Anderson

Not long without a storm "... And these wise words dating back to 1576 you still have a sense of obligation. Price perseveres CALM and home loan rates have been absolutely flat for the past seven trading days. Traders did not have much in the way of economic news to chew lately, and the volume of the season added to the lower activity sluggish market. But this period of calm may be the calm before the storm, like an action packed economic calendar is due to get some movement stirring in the next week.

Last week, did bring some news from the housing sector, in the form of new and existing home sales numbers for July ... and it seems that the housing market behaves as Fed Chairman Bernanke predicted a slowdown "orderly." The number of new and existing homes sold came in slightly below expectations, and the number of months of inventory or supply available of each rose as well. But overall, home prices are still up in the last year ... but good news. And here is an interesting point - the median price of homes in the U.S. is now $ 230,000. How does that compare to your own market?

And speaking of storms, if you have already experienced a divorce or know someone who has ... You know it is rarely SAILIING SMOOTH DURING THE PROCESS OF MAKING THE FIGHT AGAINST financial decisions. But there is a VERY common decision made that can unwittingly COST A BUNDLE ... Do not miss WEEK mortgage market display.

Forecast for the week

So what is the forecast for the coming week that could cause stormy seas for home loan rates? A great wave of economic news on the horizon, including the "Minutes" or a comment from the last Fed meeting, consumer confidence, GDP in the second quarter, the Chicago Purchasing Managers Index (PMI ), the Institute of Supply Management (ISM), Consumer confidence and the boy "big" ... the month of employment report. And turning the mix is the first hurricane seasons potentials are directed towards the Gulf of Mexico ... "Ernesto" is on the way. If the storm develops, it could disrupt oil supply in a market already nervous. This would lead to high oil prices, and inflationary pressures ... not good for bond prices or rates of home loans.

But technical factors now relinquish the helm, and take a back seat to important upcoming events News. Because bond prices and home loan rates tend to benefit from weak economic news, and vice versa, worse on positive economic news ... this gives us some advice which way the wind may blow when the news starts to hit. But because the bonds would still need to power through the general technical ceiling difficult to some improvement in home loan rates - it be grim news to see significant changes for the better in the price.

The view of the mortgage market ...

Love and marriage, love and marriage go together like ... Well, you know the song. But more than 50% of marriages end in divorce, and quickly change the lyrics "Love and Marriage" to "child support." Most people know their support payments are tax deductible and most also know that alimony received is taxable income. But some changes innocent and seemingly harmless, the support is paid so can clear the net and to receive it tax free. And in an already emotional environment, more misunderstandings and legal battles are less welcome.

According to the IRS, alimony can be claimed as a deduction in the year paid if payment is made in cash. This is the crucial point - it must be paid in cash or by check. If used as a redemption or exchange for personal items, furniture or home equity, the deduction is denied. It can be a major.