Tuesday, July 14, 2020

Local Resources

Take a look at some of the great things Prior Lake and Burnsville have to offer. These resources are designed to help you move and get settled, and to acquaint you with the area after your move.

Do you know of a resource that would be perfect for this page? Suggest it here.
Real Estate Services
Trademark Title - With Trademark Title, You can work with the experienced closer, Jackie Frechette, who I have been working with the last 15 years! And you can order title online!

Tax Information
First-time homeowners - Publication 530 (2007), Tax Information for First-Time Homeowners 
Homeowner deductions information - Frequently Asked Tax Questions And Answers
How to report moving expenses - Publication 521 (2007), Moving Expenses 
Selling your home - Sale of Your Home, IRS TAX TIP 2008-54
Relocation Links

US State Departments of Education - see the list of all 50 states
Official City Websites - find area info websites across the world!

USPS' Movers Guide - help for planning and executing your move
Area Information

Burnsville Information - research local area info, stats, and events
Anoka County - County Information
Blue Earth County - County Information
Carver County - County Information
Dakota County - County Information
Goodhue County - County Information
Hennepin County - County Information
Le Sueur County - County Information
Ramsey County - County Information
Rice County - County Information
Scott County - County Information 
Washington County - County Information
Wright County - County Information
State of Minnesota Websites
Minnesota Attorney General - The Minnesota Attorney General's Office answers questions and takes complaints on a variety of consumer concerns.
Minnesota Department of Commerce - Our mission is to ensure equitable commercial and financial transactions and reliable utility services, investigating and resolving consumer complaints, advocating the public's interest before the Public Utilities Commission, and administering various state programs. 
Minnesota Department of Corrections - Our mission is: To hold offenders accountable and offer opportunities for change while restoring justice for victims and contributing to a safer Minnesota. 
Minnesota Department of Economic Security - Minnesota WorkForce Centers (WFCs) provide the tools, resources and services needed for job search, career planning and training needs.
Minnesota Department of Employee Relations - Making a positive impact on state managers and employees, for the benefit of all Minnesotans
Minnesota Department of Finance - The mission of the Department of Finance is to ensure the integrity and sound use of the state's fiscal resources.
Minnesota Department of Labor and Industry - The department's mission is to ensure Minnesota's work and living environments are equitable, healthy and safe.
Minnesota Department of Natural Resources - Our mission is to work with citizens to conserve and manage the state's natural resources, to provide outdoor recreation opportunities, and to provide for commercial uses of natural resources in a way that creates a sustainable quality of life.
Minnesota Department of Public Safety - The Minnesota Department of Public Safety is committed to protecting citizens and communities through activities that promote and support prevention, preparedness, response, recovery, education, and enforcement.
Minnesota Department of Revenue - The Minnesota Department of Revenue manages the state's revenue system. We administer 28 different taxes, collecting over $12 billion annually. This money funds education, local government aid, property tax relief, social service programs, highways, and other state programs and operations.
Minnesota Department of Transportation - Helping Minnesotans travel safer, smarter and more efficiently
Minnesota Governors Office - Governor Tim Pawlenty 
Minnesota Secretary of State - Welcome to the Minnesota Secretary of State website. We hope you will find it to be a useful and informative resource. 
Minnesota Tourism Office - Explore Minnesota's many destinations North, South, East, and West.
Official Minnesota Website - Find everything you need to know about the state of Minnesota
School Information - free school profiles
State dept. of education - school reports, statistics, demographics....
State Colleges and Universities
Bemidji State University - Public, founded in 1919 with a current enrollment of over 5,000 students from 44 states and 40 foreign countries
Metro State University - Metropolitan State University is a comprehensive urban university committed to meeting the higher education needs of the Twin Cities and greater metropolitan population
Minnesota State University - Mankato - Minnesota State University, Mankato promotes learning through effective undergraduate and graduate teaching, scholarship, and research in service to the state, the region and the global community
Minnesota State University - Marshall - The mission of Southwest Minnesota State University is to provide high quality liberal arts, professional, and technical programs at the undergraduate and graduate level
Minnesota State University - Moorhead - The mission of Minnesota State University Moorhead is to foster excellence in teaching and learning. We develop knowledge, talent, and skills for a lifetime of learning, service, and citizenship
Saint Cloud State University - St. Cloud State University is committed to excellence in teaching, learning, and service, fostering scholarship and enhancing collaborative relationships in a global community
University of Minnesota - Crookstone - At the University of Minnesota, Crookston, you have access to affordable, U of M degrees in a private campus setting where faculty and staff know your name and invest in your success
University of Minnesota - Duluth - UMD serves northern Minnesota, the state, and the nation as a medium-sized comprehensive university dedicated to excellence in all its programs and operations
University of Minnesota - Morris - As one of five campuses of the University of Minnesota, the University of Minnesota, Morris (UMM) offers the best of both in the world of higher education,a small, close-knit campus complemented by the power of a world-renowned research University system
University of Minnesota - Rochester - The University of Minnesota Rochester (UMR), through a partnership with the Minnesota State Colleges and Universities, extends upper division undergraduate and post-baccalaureate degree programs to people in southeastern Minnesota
University of Minnesota - Twin Cities - The University of Minnesota has been a statewide resource that makes a significant impact on the economy, society, and culture of Minnesota. Through its land grant mission teaching and learning, research and discovery, public engagement it has been dedicated to advancing knowledge and serving as the partner for the public good
Winona State University - Provide high quality undergraduate and graduate programs that respond to economic, environmental and social challenges, and that serve as a durable foundation for the acquisition of the knowledge, skills, habits and capabilities of a well educated person
Private Colleges and Universities
Alfred Aldler Graduate School - The Mission of the Adler Graduate School is to provide Adlerian and non-Adlerian instruction to train professional counselors and therapists to be practitioners 
Augsburg College - To nurture future leaders in service to the world by providing high quality educational opportunities, which are based in the liberal arts and shaped by the faith and values of the Christian church
Bethany Lutheran College - Bethany Lutheran College, owned and operated by the Evangelical Lutheran Synod, is a private, residential, liberal arts college committed to the teachings of the Bible as set forth in the Lutheran Confessions
Bethel University - Bethel University provides exceptional Christian higher education by integrating a broad choice of strong academic programs with a vital spiritual life and purpose
Capella University - The mission of Capella University is to extend access to high quality degree programs for adults who seek to maximize their personal and professional potential
Carleton College - Carleton College is an independent and highly selective liberal arts college with a diverse and exceptionally able student body, a talented faculty whose first priority is teaching, and a continued commitment to the liberal arts
College of Saint Benedict - The mission of the College of Saint Benedict and Saint John's University is to provide the very best residential liberal arts education in the Catholic university tradition
College of Saint Catherine - The College of St. Catherine educates women to lead and influence. Founded by the Sisters of St. Joseph of Carondelet in 1905, the College integrates liberal arts and professional education within the Catholic traditions 
College of Saint Scholastica - Shaped by the Catholic Benedictine heritage, The College of St. Scholastica provides intellectual and moral preparation for responsible living and meaningful work
College of Visual Arts - Programming at the College of Visual Arts fulfills the college's mission to "educate men and women to explore opportunities and develop the skills and confidence necessary to become accomplished artists in the dynamic world of art and design
Concordia College - Mission, To influence the affairs of the world by sending into society thoughtful and informed men and women dedicated to the Christian life
Concordia University - Concordia is a Christian liberal arts university, one of 10 owned and operated by The Lutheran Church-Missouri Synod
Crossroads College - Crossroads College serves Christ and His church through academic excellence in a Christ-centered education, by developing Christian leaders who impact the world for Christ, and by providing resources that strengthen churches and enrich the community
Crown College - The mission of Crown College is to provide a biblically based education for Christian leadership in The Christian and Missionary Alliance, the church at large, and the world.
Dunwoody College of Technology - The mission of Dunwoody is to provide leading-edge technological education and service to a diverse population of learners preparing for and practicing in business and industry
Gustavus Adolphus College - Gustavus Adolphus College is a church-related, residential liberal arts college firmly rooted in its Swedish and Lutheran heritage. The College offers students of high aspiration and promise a liberal arts education
Hamline University - Hamline University recognizes its pioneering spirit and roots in the inclusive traditions and values of the United Methodist Church
Macalester College - Macalester is committed to being a preeminent liberal arts college with an educational program known for its high standards for scholarship and its special emphasis on internationalism, multiculturalism, and service to society
Minneapolis College of Art and Design - The Minneapolis College of Art and Design (MCAD) has been creating art on the cutting edge for well over a century. MCAD provides students the instruction they need to grow along with the freedom critical to fostering their individual creativity
North Central University - North Central University is a Christ centered Pentecostal school with a commitment to academic excellence that prepares students to fulfill biblical models of leadership and ministry throughout the world
Northwestern College - Northwestern College integrates the educational philosophy of faith, learning and living through two focuses, higher education and media 
Oak Hills Christian College - Oak Hills Christian College offers a Bible based education that helps students develop a Christ centered worldview and a heart for loving God and serving others
Pillsbury Baptist Bible College - The purpose of Pillsbury Baptist Bible College is to prepare students to be thoroughly furnished unto all good works through a program of biblical, general, and professional studies that integrate the doctrinal and ecclesiastical heritage of independent Baptist churches
Saint Mary's University - Enriched by the Catholic, Lasallian heritage, Saint Marys University of Minnesota awakens, nurtures, and empowers learners to ethical lives of service and leadership
Saint Olaf College - St. Olaf, a four-year college of the Evangelical Lutheran Church in America, provides an education committed to the liberal arts, rooted in the Christian Gospel, and incorporating a global perspective
University of Saint Thomas - Inspired by Catholic intellectual tradition, the University of St. Thomas educates students to be morally responsible leaders who think critically, act wisely and work skillfully to advance the common good
Walden University - Walden University provides a diverse community of career professionals with the opportunity to transform themselves as scholar practitioners so that they may transform society
William Mitchell College of Law - We serve the law. We teach it, study it, practice it, and work to make it just. This is our mission
Community Colleges
Anoka-Ramsey Community College - Anoka Ramsey Community College, with campuses in Coon Rapids and Cambridge, has been a leading provider of higher education and training in the north suburban area of Minneapolis & St. Paul and East Central Minnesota since 1965
Century College - Your college is a learning centered community committed to providing quality lifelong education opportunities for a diverse citizenry
Fond du Lac Tribal and Community College - The mission of Fond du Lac Tribal and Community College is to provide higher education opportunities for it's communities in a welcoming, culturally diverse environment
Hibbing Community College - Hibbing Community College is a community and technical college located in northern Minnesota. This college serves a large rural area and offers a variety of career and transfer programs
Inver Hills Community College - Inver Hills is a comprehensive community college committed to continuously improving student understanding and capabilities that help students lead purposeful lives, contribute to a vital social and economic community, and pursue lifelong learning.
Itasca Community College - Itasca Community College provides accessible academic and career related education which contributes to the social and economic health of the region, empowers learners to meet or exceed their expectations, and fosters critical thinking and civic and global engagement. 
Lake Superior College - Lake Superior College provides high quality, affordable higher education that benefits diverse learners, employers, and the community 
Mesabi Range Community and Technical College - Mesabi Range Community and Technical College provides high quality education resulting in rewarding employment, lifelong learning, and the enriched lives of our students and community
Minneapolis Community and Technical College - Our mission is to provide high quality, lifelong learning programs. We offer a spectrum of academic programs, including certificates, diplomas and associate degrees
Minnesota State Community and Technical College - To Provide accessible education with vigor and integrity to diverse learners, preparing them for dynamic learning, living, working, and serving
Minnesota West Community and Technical College - Minnesota West Community and Technical College is dedicated to serving the varied educational needs of our diverse populations in affordable, accessible and supportive settings
Normandale Community College - As an urban community college serving primarily the southwest metropolitan region of the Twin Cities, Normandale prepares students for full participation in our diverse communities, creates pathways to other college programs, and builds community connections
North Hennepin Community College - North Hennepin Community College is committed to educating a diverse community of learners to maximize their intellectual, creative and leadership potential
Northland Community and Technical College - Northland Community and Technical College is dedicated to creating a quality learning environment for all learners through partnerships with students, communities, businesses, and other educational institutions
Rainy River Community College - Begin your journey to the career of your choice by earning a degree, diploma or certificate at RRCC. Then GO TO WORK or TRANSFER to complete a major. Transfer is a sure thing within Minnesota
Rochester Community and Technical College - Rochester Community and Technical College provides accessible, affordable, quality learning opportunities to serve a diverse and growing community
Saint Paul Community and Technical College - We offer comprehensive opportunities for learning including technical, general and career education that enhances personal knowledge, advances economic opportunity and benefits a diverse population, business industry labor and the community
Vermilion Community College - Vermilion offers a personal learning environment. Our 20:1 student teacher ratio enables our instructors to know you on a first name basis. Students can also participate in the many athletic, intramural, outdoor and student life activities offered by our faculty and staff
Technical Colleges
Alexandria Technical College - Alexandria Technical College provides access to learning for careers and for life
Anoka Technical College - We are committed to continuous quality improvement for our instructors and staff to ensure you receive a quality education. Our instructors also enjoy a close relationship with their students through small class sizes and lab-focused instruction
Central Lakes College - Central Lakes College is a full service, comprehensive community and technical college. We offer a mix of technical college and community college programs and courses from campuses in Brainerd and Staples
Dakota County Technical College - The mission of Dakota County Technical College is to provide collegiate level education for employment in occupational fields other than those requiring a baccalaureate degree
Hennepin Technical College - Hennepin Technical College¿s mission is to provide quality technical education needed for employment in an ever changing global work environment
Mesabi Range Community and Technical College - Mesabi Range Community and Technical College provides high quality education resulting in rewarding employment, lifelong learning, and the enriched lives of our students and community
Minneapolis Community and Technical College - Our mission is to provide high quality, lifelong learning programs. We offer a spectrum of academic programs, including certificates, diplomas and associate degrees
Minnesota State College - Southeast Technical - Minnesota State College Southeast Technical is dedicated to providing education for employment, skill enhancement, and retraining. The primary focus is to anticipate and meet the educational and training needs of students and employers
Minnesota State Community and Technical College - To Provide accessible education with vigor and integrity to diverse learners, preparing them for dynamic learning, living, working, and serving
Minnesota West Community and Technical College - Minnesota West Community and Technical College is dedicated to serving the varied educational needs of our diverse populations in affordable, accessible and supportive settings
Northland Community and Technical College - Northland Community and Technical College is dedicated to creating a quality learning environment for all learners through partnerships with students, communities, businesses, and other educational institutions
Northwest Technical College - Northwest Technical College integrates the value of work with the educational experience to develop resourceful lifelong learners with knowledge, skills, and attitudes to secure rewarding careers and satisfying lives in an increasingly technologically focused, globally interdependent, multicultural society
Pine Technical College - Our mission is to provide superior education and services that enhance the communities we serve
Rochester Community and Technical College - Rochester Community and Technical College provides accessible, affordable, quality learning opportunities to serve a diverse and growing community
Saint Cloud Technical College - St. Cloud Technical College is located in one of the fastest growing communities in Minnesota. The college offers 100 career majors that can be completed in two years or less
Saint Paul Community and Technical College - We offer comprehensive opportunities for learning including technical, general and career education that enhances personal knowledge, advances economic opportunity and benefits a diverse population, business industry labor and the community
South Central College - South Central College provides comprehensive higher education for employment and continuous learning to promote individual growth and economic development
National Weather Service - Government Internet Service Home page. The starting point for official governemnt weather forecasts, warning, and meteorological products for forecasting ...
The Weather Channel - Free local weather & alerts always on your desktop! Get instant access to The Weather Channel forecasts. Get it FREE. Urgent storm alerts ring your phone ...
UM Weather - The University of Michigan at Ann Arbor's weather lab is among the pioneers of online weather products
Weatherbug - Live weather forecasts, including Doppler radar, storm alerts, and local weather reports 
Weather Underground - Weather forecasts for the US and the world with a fast, easy to use interface. Includes weather maps, graphics and radar images.
Google Earth - Beta - Google Earth combines satellite imagery, maps and the power of Google Search to put the world's geographic information at your fingertips - Free Download
Google Map - maps, driving directions, road trip planner....
Mapquest - maps, driving directions, road trip planner....
Utility Companies
Directv - All digital satellite tv and internet provider
Dish Network - All digital satellite tv provider
MediaCom - High Speed Internet, Digital and Cable TV, and digital phone service
Time Warner Cable - Cable tv, high speed internet, and digital phone service
Dakota Electric - Dakota Electric Association is a member-owned, nonprofit electric utility serving parts of Dakota, Goodhue, Scott, and Rice counties, just south of the Twin Cities. Serving more than 95,000 members, Dakota Electric is the second-largest electric cooperative in Minnesota and is ranked among the 20 largest electric distribution cooperatives nationally
MVEC - Minnesota Valley Electric Cooperative (MVEC) is a reliable power supplier to members in nine counties in Minnesota. These counties include; Blue Earth, Carver, Dakota, Hennepin, Le Sueur, Rice, Scott, Sibley and Waseca.
Xcel Energy - Start, transfer, stop your electrical service or view/pay your bills 
Center Point Energy - Competitive gas solutions for homes and large businesses. 
Frontier Communication - Innovative and reliable products and solutions. Phone service, High-Speed Internet, and long distance 
Integra Telecom - Providing commmunications network services, including internet access, voice services and long distance nationwide
Qwest - High-Speed Internet, Digital Voice: local and long-distance phone service,Digital TV, Wireless 
Local Sports
Minnesota Golf Courses - We think MinnesotaGolf.com is the only site you'll need to find that new course to play or to plan your next Minnesota golf getaway. Enjoy! 
Minnesota Gophers - University of Minnesota Sports
Minnesota Lynx - Check out our WNBA team
Minnesota State High School League - Minnesota State High School League, Click here to view the 2007 sports schedules. 
Minnesota Timberwolves - The Official site of the Minnesota Timberwolves.
Minnesota Twins - The Official Site of the Minnesota Twins. 
Minnesota Vikings - The best way to stay on top of Vikings news.
Minnesota Wild - Welcome to the State of Hockey, Minnesota Wild's Official Website
Saint Paul Saints - The Official Home of The St. Paul Saints
Amusement Parks - Search for Minnesota amusement parks
Art Galleries - Find Minnesotas finest art galleries
Casinos - A guide to Minnesotas casinos
Como Park Zoo and Conservatory - For over 100 years, Como Zoo and Marjorie McNeely Conservatory in St. Paul, Minnesota has charmed, educated and entertained millions of children and adults ...
Minnesota Historical Society - At the Minnesota Historical Society we've been collecting, preserving, and telling Minnesota stories for 150 years.
Minnesota State Fair - The Minnesota State Fair is one of the nation's largest and best-attended agricultural and educational entertainment events.
Minnesota State Parks Guide - Links to information on Minnesota's state parks, including maps, park fees, reservations, events and activities, and rules.
Minnesota Zoo - Apple Valley near Minneapolis and St. Paul. 2300 animals on 500 acres. General information, education program summary, webcams, a virtual tour of exhibits ...
Movie Theaters - Search for movies playing all around Minnesota
Museums - Your guide to all of Minnesotas museums. 
Music Scene - For musicians, fans and posers; a guide to local music everywhere. Support Your Local Scene(tm).
The Mystery Cafe - Interactive comedy murder mystery dinner theater for the general public, as well as corporate clients, either at our own venues or off-site.
Underwater World - The widest selection of exotic and rare marine fish, corals and invertebrates from tropical seas around the world.
Dining Guide - Your dining guide to the great state of Minnesota
Albertville Premium Outlets - Find savings of 25% to 65% every day from our unparalleled collection of designer and name brand outlet stores.
Bloomingdales - Shop online. Bloomingdale's. Like no other store in the world
Burnsville Center - Burnsville, Minnesota. Find over 150 specialty shops, services, and restaurants plus a great selection of department stores 
Eden Prairie Center - Visit Eden Prairie Center located in Eden Prairie, Minnesota for the best in shopping, entertainment and dining!
Gadzooks - handbag, belts, sunglasses, hat & scarves, small hair goods. earrings, necklaces, bracelets, rings. Womens · Mens · gift card · wish list 
GAP - There's more at Gap.com including Petites and Tall sizes, kids slim and husky sizes, and baby bedding. You'll also find your favorite T-shirts, jeans, ...
Hot Topic - Great products and accessories. Everything about the music and more! A national retailer specializing in music and pop culture based ...
JC Penny - Offering shoes, jewelry, apparel, home finishings, and toys. Includes a gift registry
Kohls - US department store chain, offering online shopping for clothing and household goods, plus a store locator, company information, and employment ...
Macy's - Shop online at the world's largest department store; an extraordinary assortment from all the best brands in fashion for him and her, everything for home, ...
Mall of America - The Mall of America in Bloomington, Minnesota has more than 500 specialty stores, 50 restaurants, 7 nightclubs and 14 movie theaters
Nordstrom - National department store offers products and brand name merchandise at their online store.
Old Navy - provides the latest fashions at great prices for the whole family. Shop Men's, Women's and Kids' departments, Womens Plus, and clothing for baby ...
Pac Sun - Shop PacSun for top skate & surf clothing for teens. Buy Roxy, Quiksilver, Hurley, Volcom, Element & Billabong. Latest fashion trends & largest selection 
Ragstock - New and Vintage Clothing. Great Prices. Huge Selection. Order online
Ridgedale Center - Visit Ridgedale Center located in Minnetonka, Minnesota for the best in shopping, entertainment and dining!
Sam's Club - Warehouse retail chain provides product information, store finder, and corporate profile
Sears - Shop Sears.com for Great Prices on Brand Name Appliances, Electronics & Computers, Craftsman Tools, Kenmore Appliances, Sears Parts, Home Fashions and more
Southdale Shopping Center - Whether you're seeking the latest fashion trends or looking for a unique gift, make Southdale Center your choice for everyday shopping
Target - Expect More, Pay Less at Target.com, the official Target online retail site. Shop the latest in Women, Men, Baby, Kids, Home, Bed+Bath, Furniture, Sports
Walmart - Visit Walmart.com, the official Wal-Mart online retail site. Shop the wide selection of items at Every Day Low Prices.
Zumiez - Carries gear, clothing and accessories for skateboarding and snowboarding.
News & Information
WCCO 4 - Local CBS affiliate
KSTP 5 - Local ABC affiliate
FOX 9 - Local FOX affiliate
KARE 11 - Local NBC affiliate
City Pages - Music, restuarants, movies, arts, news and classifieds weekly in Minneapolis and Saint Paul
Star Tribune - Online version of Minneapolis daily newspaper. Site features updated news stories, diversions, weather, archives.
Pioneer Press - The online version of the St. Paul Pioneer Press, a daily newspaper.
Local Radio Stations
93X - Twin Cities hard rock/alternative format station. Graphic-intensive site features station and programming information, live 'Net broadcast.
Cities 97 - Twin Cities light alternative format station. "Cities 97" web site features station and program information, live 'Net broadcast. "True To The Music."
KDWB - Twin Cities Top 40 contemporary hit music station. Site features station information, playlist, live 'Net broadcast, events. "Today's Best Music."
KFAN - Twin Cities sports/talk format station. Site features station and program information, live 'Net broadcast, station merchandise.
KS95 - Twin Cities Top 40 format station. "KS-95." Site features staff biographies, music and program information, and a live 'Net broadcast.
KSTP AM 1500 - A talk radio station that broadcasts nationally syndicated and local shows. Hear RealAudio broadcasts of local programs or read about the hosts.
KTIS - Northwestern College radio station in Minneapolis, features Contemporary Christian music and Bible teaching programs. Provides a live Internet audio stream.
KQRS - KQRS features Contemporary and Classic blend of rock from the 60's through the 90's. Personality-oriented for the lifestyle of adult listeners.
Minnesota Public Radio - Broadcasting a mix of talk and music. Operates a regional network of 34 stations (not all of which are in Minnesota) and is a major station-based producer of public radio programs.
WCCO - Twin Cities News/Talk format station. Site features station and personality information. "The Good Neighbor."

Monday, June 15, 2020

Re-post of Kristi Piatz Update

Inside Lending
Brought to you by Kristi Piatz

"Everyone has an invisible sign hanging from their neck saying, ‘Make me feel important.’ Never forget this message when working with people.”—Mary Kay Ash, American businesswoman 

The Mortgage Bankers Association pegged purchase applications up for the eighth straight week, coming in 13% higher than a year ago, noting “the recovery in the purchase market continues to gain steam.”
On a deep dive since March, Fannie Mae’s Home Purchase Sentiment Index finally turned higher in May, indicating consumer views are improving as the economy begins to show signs of recovery from the coronavirus crisis.
A Zillow statement said, “New for-sale listings are up 19.3% month over month” and “newly pending sales up 24.5% over the past month,” plus “traffic to for-sale listings…is up 51% from a year ago.”

SELLING SPREE... After recent gains, stocks sank steeply for the week. This was blamed on the Fed’s cautious outlook (nothing new), and the coronavirus (previously ignored), so the real reason was plain old profit-taking.
The big outcome of the Fed meet was no rate hike expected till at least 2023. As chair Powell put it, “We’re not even thinking about thinking about raising rates.” They’ll also keep buying bonds, so mortgage rates should stay low too.
The Fed may be cautious, but initial jobless claims fell for the tenth straight week and 2.5 million jobs came back in May, suggesting the economy bottomed then, making the COVID recession, though sharp, the shortest on record.
The week ended with the Dow down 5.6%, to 25,606; the S&P 500 down 4.8%, to 3,041; and the Nasdaq down 2.3%, to 9,589.
Profit-taking in stocks sent traders over to bonds. The UMBS 3.5% ended UP 0.11, at $105.47. The national average 30-year fixed mortgage rate barely rose in Freddie Mac's weekly Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW?... The number of single family home and condo flips in Q1 hit its highest level in 14 years. Gross profits gained too, although the return on investment slipped to 36.7%, still decent, but a nine-year low.

HOME BUILDING, RETAIL SALES SPIKE UP... The forecasts say May Housing Starts will be back up to a 1.1 million annual rate, Building Permits, more than 1.2 million. Analysts also expect Retail Sales to rebound, up 9.0% in May following their 16.4% April decline. 
NOTE: Weaker economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and higher loan rates.

Forecasting Federal Reserve policy changes in coming months... The Fed chair’s remarks after last week’s confab implied rate hikes will be off the table for a long while. We’ll see. Note: In the lower chart, a 0% probability of change is a 100% certainty the rate will stay the same.
Current Fed Funds Rate: 0%-0.25%
Jul 29 0.00%-0.25%
Sep 16 0.00%-0.25%
Nov 50.00%-0.25%

Probability of change from current policy:
Jul 29     0%
Sep 16     0%
Nov 5    0%

While our lives reopen to a “new normal,” it's a great time to pivot and try something new. If it doesn’t work out, you can always pivot again--as long as you do it for the right reason. 
Kristi Piatz
Kristi Piatz
Senior Loan Officer
NMLS #452537
Ask me about my free moving truck!
13963 W Preserve Blvd, Suite 200
Burnsville, MN 55337