Racing returns to the Oceanport oval for the 2010 season. 

Monmouth Park Racetrack
Oceanport Ave, Oceanport

Saturday, May 22.    Gates will open at 11:30 a.m. and first post is set for 12:50 p.m.

http://www.monmouthpark.com/News.aspx?id=2921

Mark Your Calendars… The 25th Annual Beach Sweep On April 24, the nonprofit Clean Ocean Action marks a quarter century of keeping our beaches, rivers, lakes and streams clean and free of debris–with a big springtime event that takes place at over 60 locations statewide, including the Asbury Park  and Point Pleasant boardwalks.

The goal of the Beach Sweeps is to reduce and eliminate sources of litter.  The Beach Sweeps events are more than people picking up trash from beaches.  This program builds community support for solutions, as well as raises awareness about the negative impacts of litter on wildlife and the ocean. 

Volunteers are needed all over; go to www.cleanoceanaction.org to register and find out more about this project.

The “Gray Barn” will feature two live animal shows with an environmental message.  The Eyes of the Wild troupe will put on a fun presentation called “What Big Teeth You Have!” which will show how Earth’s incredible creatures have adapted to survive the circle of life.

Stop into the “Red Barn Theatre” to listen to some Folk-Rock Music by popular bands!

Admission, Parking, Crafts, Tours and Barn Shows are all free!

For more information on this Festival and other events and features of Bayonet Farms check out their website at http://www.bayonetfarm.org/

If you are looking for something to do this upcoming weekend, there will be a Spring Fling weekend beginning at 11 a.m. on Saturday April 10 until Sunday April 11.  Among the many activities, you can attend workshops on how to incorporate antiques into arts or crafts.  Carla Gizzi and Plum Cottage will also be hosting workshops.  Check out the website for more information on these events as well as the individual dealer sales.

http://www.monmouthantiqueshoppes.com/upcomingEvents.html

(Photo courtesy of Red Bank Antiques Center)

Why not list in time for the NJ Open House Weekend coming up on April 10 and 11th?

Buyers can call your Realtor to get a list of the open houses and take advantage as well. Any questions on listing or buying feel free to call me, 732-687-1343.   Climb down off that fence now!   www.realstorynj.com/openhouseweekend

Of course, we are partial to the Monmouth County beaches, but to be fair….  there are 48 wonderful shore communities represented, from Sandy Hook to Cape May……. let’s get the vote out now    http://www.njtoptenbeaches.org/

Courtesy of Lynn Woodin, Coldwell Banker Home Loans
I’ve been watching very closely how the Federal Reserve has been purchasing Mortgage Backed Securities (MBS) and I thought I would give you a little color on that today.  Since the inception of the program in January 2009, the Fed has spent $1.19 trillion in the MBS market.  That’s 95.6% of the $1.25 trillion that was allocated, which is scheduled to run out in March 2010. This leaves the Fed $55 billion left to spend over the next 6 weeks.
 
The goal of the Fed’s program was to purchase MBS at below market rates in order to provide support to the housing market.  They did this by purchasing large blocks of MBS thus keeping stability in the market and driving down interest rates.   In this respect the program has been a success and we have enjoyed very low and very stable interest rates for the last year.
 
So what happens now?  The Fed is relying on private investors to come into the market at the end of March and purchase billions of dollars of mortgage backed securities in order to keep rates stable.  We are by definition a free market economy based on the Father of Economics, Adam Smith’s invisible hand driving the market.   I believe in a free economy and when it comes to the mortgage rates, it is critical that private investors step in to fill the void.  I get that.
 
But let me ask this.  Where are the private investors now?  If the rate of return was high enough investors would be clamoring for them now and undercutting the government for the access to these investments today.   Unfortunately, that’s not the case and in order to entice those investors, MBS valuations will have become less expensive relative to benchmark Treasuries.  When that happens, mortgage rates will increase.  
 
It’s basic supply and demand economics.  The country has a constant supply of mortgages that need to be purchased.  Investors need to purchase those loans.  If the government has had to buy over a trillion dollars of those loans in the last year the message is clear that the private sector needs a greater rate of return.  How does an investor get a greater rate of return?  Interest rates have to rise to get investor demand to buy the loans.
 
So what should you do with this information?  How can your buyers benefit from this information?  If you believe in the logic I presented, then your buyers are under the gun to get locked in on an interest rate very soon.  But what if they haven’t located a property to purchase?  That’s where I come in.  We are one of the only lenders offering the ability for the customer to cap their rate at today’s rates for the next 90 days while they look for a property.  Have your buyers call me and ask about Pre Purchase Rate Protection (PPRP) today.  You have insurance to protect your car.  You have insurance to protect your health.  You can even buy vacation insurance.  Shouldn’t your buyers know about a service that protects them from looming rising rates?  Best of all the program won’t cost them any extra out of pocket money.  Give me a call and let’s schedule some time for me to explain this great program to you and your buyers.

For mortgage information, contact Lynn Woodin @ Lynn.woodin@mortgagefamily.com