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WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.WordSection1 {page:WordSection1;} --> </style> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="1026"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body bgcolor=white lang=EN-US link="#ED5C28" vlink="#ED5C28" style='tab-interval: .5in'> <div class=WordSection1> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing:0in;background:white;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td style='padding:15.0pt 15.0pt 0in 15.0pt'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=600 style='width:6.25in;border-collapse:collapse;mso-yfti-tbllook:1184; mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td style='padding:0in 15.0pt 0in 0in'> <h1 style='margin-top:0in;line-height:20.0pt'><span style='font-size:13.5pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; font-weight:normal'>The Housing Market Update<o:p></o:p></span></h1> </td> </tr> </table> </div> <p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#444444'><o:p>&nbsp;</o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=600 style='width:6.25in;border-collapse:collapse;mso-yfti-tbllook:1184; mso-padding-alt:0in 0in 0in 0in;border-spacing: 0'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:6.0pt'> <td valign=top style='padding:0in 0in 0in 0in;height:6.0pt'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=600 style='width:6.25in;border-collapse:collapse;mso-yfti-tbllook:1184; mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes; height:6.0pt'> <td width=8 valign=top style='width:6.0pt;background:#E4E4E4;padding: 0in 0in 0in 0in;height:6.0pt'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size:1.5pt;font-family:"Arial","sans-serif";color:#444444'><img border=0 width=8 height=8 id="_x0000_i1026" src="http://www.isysholdings.com/mbsratewatch/nl/images/borderTop_1_dark1a.png"><o:p></o:p></span></p> </td> <td width=584 valign=top style='width:438.0pt;background:#E4E4E4; padding:0in 0in 0in 0in;height:6.0pt'></td> <td width=8 valign=top style='width:6.0pt;padding:0in 0in 0in 0in; height:6.0pt'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size:1.5pt;font-family:"Arial","sans-serif";color:#444444'><img border=0 width=8 height=8 id="_x0000_i1027" src="http://www.isysholdings.com/mbsratewatch/nl/images/borderTop_2_dark1a.png"><o:p></o:p></span></p> </td> </tr> </table> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='background:#E4E4E4;padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=600 style='width:6.25in;border-collapse:collapse;mso-yfti-tbllook:1184; mso-padding-alt:0in 0in 0in 0in;border-spacing: 0'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=296 style='width:222.0pt;background:#E4E4E4;padding:0in 15.0pt 0in 15.0pt'> <p class=MsoNormal style='line-height:15.0pt'><span class=MsoHyperlink><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Envoy Mortgage</span></span><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#323232'> <o:p></o:p></span></p> </td> <td width=2 valign=bottom style='width:1.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size:1.5pt;font-family:"Arial","sans-serif";color:#777777'><img border=0 width=2 height=50 id="_x0000_i1028" src="http://www.isysholdings.com/mbsratewatch/nl/images/topSeparator.png"><o:p></o:p></span></p> </td> <td width=100 style='width:75.0pt;background:#E4E4E4;padding:0in 15.0pt 0in 15.0pt'></td> <td width=2 valign=bottom style='width:1.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size:1.5pt;font-family:"Arial","sans-serif";color:#777777'><img border=0 width=2 height=50 id="_x0000_i1029" src="http://www.isysholdings.com/mbsratewatch/nl/images/topSeparator.png"><o:p></o:p></span></p> </td> <td width=100 style='width:75.0pt;background:#E4E4E4;padding:0in 15.0pt 0in 15.0pt'> <p class=MsoNormal style='line-height:15.0pt'><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#323232'>1/23/2012<o:p></o:p></span></p> </td> </tr> </table> </td> </tr> <tr style='mso-yfti-irow:2'> <td valign=bottom style='background:#E4E4E4;padding:0in 0in 0in 0in'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size: 1.5pt;font-family:"Arial","sans-serif";color:#777777'><img border=0 width=600 height=3 id="_x0000_i1030" src="http://www.isysholdings.com/mbsratewatch/nl/images/topLinksBorder.png"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td valign=top style='background:#F4F4F4;padding:0in 0in 0in 0in'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:6.0pt'> <td width=400 valign=top style='width:300.0pt;background:#F4F4F4; padding:0in 0in 0in 0in;height:6.0pt'> <p class=MsoNormal align=right style='text-align:right;mso-line-height-alt: 0pt'><span style='font-size:1.5pt;font-family:"Arial","sans-serif"; color:#777777'><img border=0 width=8 height=8 id="_x0000_i1031" src="http://www.isysholdings.com/mbsratewatch/nl/images/borderSidebarTopRight.png"><o:p></o:p></span></p> </td> <td width=200 style='width:150.0pt;background:#E4E4E4;padding:0in 0in 0in 0in; height:6.0pt'></td> </tr> <tr style='mso-yfti-irow:1'> <td width=400 valign=top style='width:300.0pt;background:#F4F4F4; padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td valign=top style='background:#F4F4F4;padding:9.0pt 15.0pt 0in 15.0pt'> <p class=MsoNormal align=center style='text-align:center;line-height: 15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#444444'><img border=0 width=360 height=189 id="_x0000_i1032" src="http://www.isysholdings.com/mbsratewatch/nl/images/MBSauthorityHousing.jpg" alt=image><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='background:#F4F4F4;padding:11.25pt 15.0pt 7.5pt 15.0pt'> <h1 style='margin-top:0in;line-height:20.0pt'><span style='font-size: 13.5pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; font-weight:normal'>Existing Home Sales Rose 5% in December:<o:p></o:p></span></h1> <p class=textbodyblack style='line-height:15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'>Home sales rose in December to the highest pace in nearly a year. The gain coincides with other signs that show the troubled housing market improved at the end of last year.<o:p></o:p></span></p> <p class=textbodyblack style='line-height:15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'>The National Association of Realtors said Friday that sales increased 5 percent last month to a seasonally adjusted annual rate of 4.61 million, the best level since January 2011 and the third straight monthly increase. <o:p></o:p></span></p> <p class=textbodyblack style='line-height:15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'>Sales are increasing at a time when the market is flashing other positive signs. Mortgage rates are at record-low levels. Homebuilders have grown slightly less pessimistic because more people are saying they might be open to buying a home this year. And home construction picked up in the final quarter of last year. <o:p></o:p></span></p> <p class=textbodyblack style='line-height:15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'>The median sales price rose 2.3 percent to $164,500 in December. <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td valign=top style='background:#F4F4F4;padding:9.0pt 15.0pt 0in 15.0pt'> <h1 align=center style='margin-top:0in;text-align:center;line-height: 20.0pt'><span style='font-size:13.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";font-weight:normal'>What Happened to Rates Last Week?<o:p></o:p></span></h1> <p class=MsoNormal align=center style='text-align:center;line-height: 15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#444444'><img border=0 width=360 height=189 id="_x0000_i1033" src="http://www.isysholdings.com/mbsratewatch/nl/012212a.jpg" alt=image><o:p></o:p></span></p> <p style='line-height:15.0pt'><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'>Mortgage backed securities (MBS) lost -91 basis points from last Friday to the prior Friday which moved mortgage rates upward.<br> The biggest economic surprise was the large decrease in the weekly Initial Jobless Claims data which is certainly positive for the economy, but negative for bonds.<br> But the real catalyst was a change in market sentiment that Greece's bond holders were close to accepting the new terms of a &quot;voluntary&quot; hair cut of 60% to 70% on what they are owed. This removed some of the &quot;fear factor&quot; premium in bonds that have kept mortgage rates artificically low for the past 8 weeks.&nbsp;<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td valign=top style='background:#F4F4F4;padding:11.25pt 15.0pt 7.5pt 15.0pt'> <h1 style='margin-top:0in;line-height:20.0pt'><span style='font-size: 13.5pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; font-weight:normal'>What to Watch Out For This Week:<o:p></o:p></span></h1> <p class=MsoNormal style='line-height:15.0pt'><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'>The following are the major economic reports that will hit the market this week. They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages. I will be watching these reports closely for you and let you know if there are any big surprises: <o:p></o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=359 style='width:269.25pt;border-collapse:collapse;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:11.25pt'> <td width=47 style='width:35.0pt;background:#BBC8D8;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Date</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#BBC8D8;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Time</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#BBC8D8;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Economic Release</span><span style='font-size:9.0pt; font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1;height:11.25pt' id="row_6631d7b2-f132-478e-a20d-88ac5b439eeb"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>24-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Richmond Fed Manufacturing Index</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2;height:11.25pt' id="row_b8e2f8f9-2af2-425e-b9f1-0b4a7c5fde5d"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>25-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>7:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>MBA Mortgage Applications</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3;height:11.25pt' id="row_cd69dab2-71d4-4f70-9659-6a865c3c9bc2"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>25-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Housing Price Index (MoM)</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4;height:11.25pt' id="row_bb2f50d3-fdb2-4e53-989b-d7c1d2872009"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>25-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Pending Home Sales (MoM)</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5;height:11.25pt' id="row_2348b2c1-bfb8-43c4-9955-70f38697807a"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>25-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>EIA Crude Oil Stocks change</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6;height:11.25pt' id="row_a256ecd6-bd49-448d-a42d-c9616b69467f"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>25-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>14:15</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Fed Interest Rate Decision</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:7;height:11.25pt' id="row_45405bc7-64b3-4ff8-9954-430ae120b13a"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Continuing Jobless Claims</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:8;height:11.25pt' id="row_f8aa308d-05c2-43a5-a4e4-98080b610b32"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Durable Goods Orders</span></u><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:9;height:11.25pt' id="row_536615f6-0bd4-4056-80d9-4f026a3dfe61"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Durable Goods Orders ex Transportation</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:10;height:11.25pt' id="row_af31fe4e-99e8-4966-93f0-68b17f2844d3"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Initial Jobless Claims</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:11;height:11.25pt' id="row_6cfb9645-3bc0-4af9-b32c-fd3fa1070ebb"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Leading Indicators (MoM)</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:12;height:11.25pt' id="row_bb0e712f-a2e1-428f-901b-dd88f6e4fc0c"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>New Home Sales</span></u><span style='font-size:9.0pt; font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:13;height:11.25pt' id="row_b952de50-c9fe-4f87-9ef0-9c7039dedadf"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>26-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>10:00</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>New Home Sales (MoM)</span></u><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:14;height:11.25pt' id="row_c3f30e44-1c4e-4ce4-a443-0f47b1eaa4c6"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>27-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Gross Domestic Product Annualized</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:15;height:11.25pt' id="row_e83d91d4-a311-44a8-b2de-476decf2f0ae"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>27-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Gross Domestic Purchases Price Index</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:16;height:11.25pt' id="row_c8dfe204-3d3f-4ba4-bdef-f2405ac6d901"> <td width=47 style='width:35.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>27-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>8:30</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#DDE4EB;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Real Personal Consumption Expenditures (QoQ)</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:17;mso-yfti-lastrow:yes;height:11.25pt' id="row_a2c67ded-c7d6-44f2-87e9-9e12c6c55f17"> <td width=47 style='width:35.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>27-Jan</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=44 style='width:33.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>9:55</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> <td width=253 style='width:190.0pt;background:#F1F4F7;padding:0in 0in 0in 0in; height:11.25pt'> <p class=MsoNormal><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif"; color:#444444'>Reuters/Michigan Consumer Sentiment Index</span></u><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal style='line-height:15.0pt'><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'><br> It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.&nbsp; Just leave it to me, I monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.&nbsp; <o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td valign=top style='background:#F4F4F4;padding:0in 15.0pt 7.5pt 15.0pt'></td> </tr> <tr style='mso-yfti-irow:5;mso-yfti-lastrow:yes'> <td valign=top style='background:#F4F4F4;padding:0in 15.0pt 1.5pt 15.0pt'> <h2 style='margin-top:0in;line-height:17.0pt'><span style='font-size: 11.5pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; font-weight:normal'>Quote of the week:<o:p></o:p></span></h2> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 align=left width=200 style='width:150.0pt;border-collapse:collapse; mso-yfti-tbllook:1184;mso-table-lspace:2.25pt;mso-table-rspace:2.25pt; mso-table-anchor-vertical:paragraph;mso-table-anchor-horizontal:column; mso-table-left:left;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes'> <td valign=top style='padding:3.0pt 7.5pt 0in 0in'> <p class=MsoNormal style='line-height:15.0pt'><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'><img border=0 width=16 height=16 id="_x0000_i1034" src="http://www.isysholdings.com/mbsratewatch/nl/images/quote.png" alt=" "><o:p></o:p></span></p> </td> <td valign=top style='padding:0in 15.0pt 0in 0in'> <p class=MsoNormal style='line-height:16.0pt'><span style='font-size: 10.5pt;font-family:"Arial","sans-serif";color:#ED5C28'>More buyers coming into the market mean additional benefits for the overall economy. When people buy homes, they stimulate a lot of related goods and services <o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal style='line-height:15.0pt'><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'>NAR President Moe Veissi <o:p></o:p></span></p> </td> </tr> </table> </td> <td width=200 valign=top style='width:150.0pt;background:#E4E4E4; padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:355.5pt'> <td style='padding:5.25pt 15.0pt 0in 15.0pt;height:355.5pt'> <h2 style='margin-top:0in;line-height:17.0pt'><span style='font-size: 11.5pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; font-weight:normal'>Brought to you by:<o:p></o:p></span></h2> <p class=MsoNormal style='line-height:15.0pt'><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#579B12'><img border=0 id="_x0000_i1035" src="http://www.isysholdings.com/mbsratewatch/nl/Bowen/Main.jpg"><br> </span><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#4F81BD'>Jonathan Bowen</span></strong><b><span style='font-size: 10.0pt;font-family:"Arial","sans-serif";color:#4F81BD'><br> </span></b><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#444444'>Branch Manager</span></strong><b><span style='font-size: 9.0pt;font-family:"Arial","sans-serif";color:#444444'><br> </span></b><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#444444'>Office: 800-394-5252<br> Cell: 401-829-1929<br> <a href="mailto:jbowen@envoymtg.com">jbowen@envoymtg.com</a> <br> <br> Envoy Mortgage<br> 89 Mussey Road<br> Scarborough, ME 04074<br> <br> <br> <br> <img border=0 id="_x0000_i1036" src="http://www.isysholdings.com/mbsratewatch/nl/EHO.jpg"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1;mso-yfti-lastrow:yes'> <td style='padding:0in 15.0pt 3.75pt 15.0pt'></td> </tr> </table> </td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes;height:6.0pt'> <td width=400 valign=top style='width:300.0pt;background:#F4F4F4; padding:0in 0in 0in 0in;height:6.0pt'> <p class=MsoNormal align=right style='text-align:right;mso-line-height-alt: 0pt'><span style='font-size:1.5pt;font-family:"Arial","sans-serif"; color:#777777'><img border=0 width=8 height=8 id="_x0000_i1037" src="http://www.isysholdings.com/mbsratewatch/nl/images/borderSidebarBottomRight.png"><o:p></o:p></span></p> </td> <td width=200 style='width:150.0pt;background:#E4E4E4;padding:0in 0in 0in 0in; height:6.0pt'></td> </tr> </table> </div> </td> </tr> <tr style='mso-yfti-irow:4'> <td valign=bottom style='background:#E4E4E4;padding:0in 0in 0in 0in'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size: 1.5pt;font-family:"Arial","sans-serif";color:#777777'><img border=0 width=600 height=3 id="_x0000_i1038" src="http://www.isysholdings.com/mbsratewatch/nl/images/topLinksBorder.png"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td style='background:#E4E4E4;padding:11.25pt 15.0pt 7.5pt 15.0pt'> <p class=MsoNormal align=center style='text-align:center;line-height:15.0pt'><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#444444'>Copyright © 2012 Powered by <a href="http://www.MBSauthority.com">www.MBSauthority.com</a> <br> You are currently signed up to receive my newsletters to Unsubscribe, please click on the following link: <a href="mailto:jbowen@envoymtg.com">jbowen@envoymtg.com</a> <o:p></o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=180 style='width:135.0pt;border-collapse:collapse;mso-yfti-tbllook:1184; mso-padding-alt:0in 0in 0in 0in;border-spacing: 0'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td style='padding:0in 0in 0in 0in'></td> </tr> </table> </div> </td> </tr> <tr style='mso-yfti-irow:6;mso-yfti-lastrow:yes'> <td valign=top style='padding:0in 0in 12.75pt 0in'> <p class=MsoNormal style='mso-line-height-alt:0pt'><span style='font-size: 1.5pt;font-family:"Arial","sans-serif";color:#777777'><img border=0 width=600 height=15 id="_x0000_i1039" src="http://www.isysholdings.com/mbsratewatch/nl/images/borderBottoma.png"><o:p></o:p></span></p> </td> </tr> </table> </div> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><o:p></o:p></span></p> </td> </tr> </table> </div> <p class=MsoNormal><img border=0 id="_x0000_i1040" src="http://officeclip.mbsauthority.com/crm/publish/trackEmailOpen.aspx?id=YXpzZGRlcXNhZGQ0ODQ0ODg="></p> </div> </body> </html>