The big day for Power Principles is FINALLY Here! Get your bonuses TODAY!

Hi All,

Today is the big day!  Just for buying my new book today, that is chock full Success Principles on Health, Wealth, Success and Happiness from America’s PremierExperts®, I’ll give you literally THOUSANDS OF DOLLARS worth of bonuses!

Just for purchasing the book today, and helping us get off to a great start, I’ve put together a huge bonus package for you!

Here is a link to buy the book for $19.95: http://www.amazon.com/Power-Principles-Success-Brian-Tracy/dp/0615369596/ref=sr_1_19?ie=UTF8&s=books&qid=1279159581&sr=8-19

And here is all the great stuff you’ll get JUST for buying it today!  BUT REMEMBER YOU MUST BUY THE BOOK AT AMAZON.COM TODAY!

– The ebook of America’s PremierExperts® last 2 best-selling books: Big Ideas for Your Business & Shift Happens (Valued at $39.98)

– Access to Nick Nanton’s famous Cracking the Celebrity Code presentation, complete with audio and transcripts (Valued at $197)

– A mortgage property appraisal by America’s Premier Mortgage Expert. ($450.00 Value)

– 3 months of Double Your Sales Coaching (Premium) program from InfusionSoft at www.DoubleYourSales.com (Valued at $450)

– FREE Membership in a revolutionary new program to help CEO’s attain their #1 priority for their business… Growth. Participant CEO’s will receive services free of charge that will empower them and provide them with the three key components for growth:

Consciousness: High end tools for detailed corporate, consumer, and competitive analysis

Edgepertise: Tools that will give you leading edge expertise required to grow.

Orchestrate: Tools to create high growth plans and the people to implement.

– A free 2 hour SWOT 3D analysis of your business. See how your business stacks up against customer expectations, competitive landscape, and industry standards. This process will show you what your ‘go-to-market’ strategy needs to be in order to successfully, and profitably, compete in your marketplace.

– Free credit repair consultation.  You will receive a secret on bumping your credit score within 30 days.  Learn how the system works in these easy steps and take control to a more profitable future. You will also receive secrets to saving thousands of dollars on your current expenses from bank loans to common yearly expenditures as well as information on bringing home more money in your paycheck immediately.  (Valued at $150)

1-hour consulting session with Kimberly Moore,  America’s Leading Small Business Expert on creating your Top Picks List of Action Items to increase value and profits in your business  – INCLUDING how to Put It Into Action!

– The eBook of Scot Ferrell’s latest book “What Men Don’t Get About Women” and 1 hour of coaching one-on-one with Scot via phone. ($350 dollar value)

– 2 Months of BreakingFreeBlog.com Gold Membership which will help you achieve the lifestyle and business you always wanted! (Valued at $194.00).

– A Free E-Book and audio cd on Baby Boomer Blunders and the Worlds of Money (Valued at $200.00)

– A Free E-course on how to get your first luxury real estate deal in 88 minutes! (Valued at $88.00)

– A FREE Financial CAT Scan worth $700 for everyone with over $250,000 in net worth

– A Free Ebook ” Dealing with the Grief of a Wrongful Death”

– 30 Day FREE Trial Membership to the CleanBid.com Janitorial Bidding Program*  *Offer valid for 1^st time members only

An ebook that tells the InfusionSoft story of entrepreneurship and success.

Free set up and one month free membership to www.MyMark.com ($344 Value).

Transcript of Ben Glass’ recent keynote on the many challenges that lawyers and small business owners face with their marketing (and what the really smart ones are doing to meet the challenges).  (Valued at $97)

A detailed special report on how to build a professional practice (Valued at $27)

Then just send your receipt to info@AmericasPremierExperts.com and you’ll get all the bonuses!

Just for purchasing the book today, and helping us get off to a great start, I’ve put together all of these great bonuses for you!

Here is a link to buy the book for $19.95: http://www.amazon.com/Power-Principles-Success-Brian-Tracy/dp/0615369596/ref=sr_1_19?ie=UTF8&s=books&qid=1279159581&sr=8-19

And you’ll get all that great stuff  JUST for buying the book today!  BUT REMEMBER YOU MUST BUY THE BOOK AT AMAZON.COM TODAY!

Here is the link one more time: http://www.amazon.com/Power-Principles-Success-Brian-Tracy/dp/0615369596/ref=sr_1_19?ie=UTF8&s=books&qid=1279159581&sr=8-19

Then just send your receipt to info@AmericasPremierExperts.com and they’ll send you access to all the bonuses!

Thanks for your support!  Enjoy the book!

Sincerely.

Michael McDevitt

P.S. – Here is a link to buy the book for $19.95: http://www.amazon.com/Power-Principles-Success-Brian-Tracy/dp/0615369596/ref=sr_1_19?ie=UTF8&s=books&qid=1279159581&sr=8-19

And you’ll get all the great stuff I mentioned above, JUST for buying the book today!  BUT REMEMBER YOU MUST BUY THE BOOK AT AMAZON.COM TODAY! Here’s the link one last time:

http://www.amazon.com/Power-Principles-Success-Brian-Tracy/dp/0615369596/ref=sr_1_19?ie=UTF8&s=books&qid=1279159581&sr=8-19

Existing Home Sales Exceed Expectations:

Sales of previously occupied homes surprised economists by beating economic and market estimates. According to the National Association of Realtors, June Existing Home Sales beat estimates by 190,000 units. The annualized rate came in at 5.37 million units vs. consensus estimates of only 5.18 million units.

This is the first reading since the housing tax credit has expired, so it is a positive sign that we surprised to the upside. The month-over-month numbers for June were actually down 5.1% but the year-over-year numbers showed an increase of 9%!

EU Bank Stress Tests:

Only 17 out of the 91 European Union’s banks failed their stress test. The ultimate goal of the stress test was to give the global markets more confidence in the EU. The results were released last week and so were the criteria.  No one expected the criteria to be so tough.

These tests ran a bank’s balance sheets through a series of worse case scenarios. A bank fails the stress test if its Tier-1 capital ratio is below 6% under two scenarios: Adverse scenario and adverse scenario plus sovereign risk. The adverse scenario assumes that the bank must face an economic climate that is so severe that it is only experienced once in 20 years. The same tests in the U.S. last year assumed a once in seven year possibility. These tests assumed a further decrease of 6% in unemployment from current levels and a 6% hike in interest rates from current levels.

What Happened to Rates Last Week?

Mortgage backed securities (MBS) lost -13 basis points last week which caused 30 year fixed rates to increase for both government and conventional loans.  We briefly saw our best pricing of the year on Wednesday but then lost -38 basis points from that level by Friday’s close as the stock markets started to make up some lost ground and we received better than expected Initial Jobless Claims Data, Existing Home Sales, and Leading Economic Indicators.

Why are so many people listing their houses now?

Once the tax credit expired (new contracts had to signed by April 30th) everyone expected that listings would go down.  But they haven’t…they have gone up.  With all of the negative media attention on housing it would be easy to consider that it is because the sellers are distressed in some way.  Maybe they lost their job or they are trying to sell the home before it goes into foreclosure.

But here is the real reason why listings are up:  Interest rates are at an all-time low.  Despite the constant bombardment of negative media coverage, the vast majority of existing homeowners are very credit worthy, live within their means and have stable income.  Experienced homeowners have seen interest rates in the 5’s, 6’s, and 7’s in the last several years.  And those that have owned homes for longer have seen double-digit interest rates.  So, they know that when interest rates are at an all time low – it is time to make a move.

The idea is that if they were ever going to move to a different school district, move up or down in size, etc. now is the time to do it.  Sure, they might get a little less for their house this year compared to what they might sell it for a couple of years down the road but that is more than offset by the huge savings in mortgage and interest payments.

This means that homebuyers also have attractive interest rates which is another good time to sell, because more people buy when interest rates are low.  Buyers are a little slower to “pull the trigger” on a sales contract because there is moderate amount of inventory around.  But many of these potential homebuyers already missed out on the tax credit window because they thought the government would keep extending it or maybe they just weren’t ready to enter the market yet.  Regardless that window of opportunity has shut.  Don’t miss this even bigger window of opportunity!

Mortgage rates can make a right turn at any second.  Mortgage rates are not low because of anything that the Federal Reserve, Treasury, or Obama administration is currently doing.  Mortgage rates are low because of global fear about the economy and financial system.  This causes banks and investors to hoard their cash and park it into nice, safe and boring mortgage backed securities.  You earn a very low interest rate in return for safety.  But the financial markets and the global economy will turn around, and when it does it will move mortgage rates up with it.

What Happened to Rates Last Week?

Mortgage backed securities (MBS) gained +19 basis points last week which caused 30 year fixed rates to decrease for both government and conventional loans.  Rate declined on fears of a U.S. double-dip recession.  Economic concerns help to push investors towards purchasing MBS as a way to earn low yields in exchange for safety that you cannot find in the stock markets.

President Signs 3-Month Extension of Tax Credit:

On Friday, President Obama signed a law giving home buyers three extra months of the wildly popular tax credit that gives first-time home buyers $8,000 and previous owners $6,500.  These only apply to primary residences.

The catch?  This still only applies to purchase contracts that were executed prior to the April 30th deadline.  This just gives those individuals extra time to close.  It does not enable today’s signed contracts to qualify.

Unemployment Rate Drops:

The Unemployment Rate unexpectedly dropped from 9.7% to 9.5% in June.  The very closely watched Non-Farm Payrolls grew 42,000 after stripping away the temporary Census workers hired by our government.

Even though the headline Unemployment Rate dropped, the financial markets did not welcome the news.  The private sector just barely held its head above water with very small job growth.  Many economists and traders believe the number was skewed lower by a large number of people no longer looking work.  Remember, the Unemployment Rate is a survey of those that are actively looking for work and can’t find it.

What Happened to Rates Last Week?

Mortgage backed securities (MBS) gained +42 basis points last week which caused 30 year fixed rates to decrease for both government and conventional loans.  Rate declined on fears of a U.S. double-dip recession.  Economic concerns help to push investors towards purchasing MBS as a way to earn low yields in exchange for safety that you cannot find in the stock markets.

MARKET SNAPSHOT 7/1/2010

Early activity this morning was soft for mortgage markets again; yesterday mortgage markets struggled while treasuries traded unchanged except for the 30 yr bond which saw buying to push its yield to a new low at 3.90%. Monday and Tuesday we saw strong buying of mortgages but yesterday and so far this morning there was no follow-through. Treasuries and mortgages are technically overbought as the stock indexes are oversold.

At 8:30 weekly jobless claims, expected to be generally unchanged, increased 13K to 472K, the level it hit two weeks ago. The four week moving average increased for the first time in awhile to 466.5K from 463.250K. There are 4.62 mil now receiving jobless benefits. The reason for the increase in claims according to the Labor Dept is seasonal with states cutting jobs at schools in the summer. That may be but jobs are not being created with the recent swing in the economic outlook from recovery to worries over a double dip as Europe’s economies slow and the banks in Europe remain strapped with debt. There was little market reaction to the claims report with the June employment report hitting tomorrow morning. The employment situation was more muddled this morning from the Challenger Report; it showed job cuts announced by U.S. employers fell in June. Planned firings dropped 47% to 39,358 from 74,393 in June 2009, according to figures released. It is the third straight month that announced reductions totaled less than 40,000. For the first half of the year, announced job cuts totaled 297,677, the lowest six-month tally since 2000.  We will leave that dichotomy to the green eye shade economists.

At 9:30 the DJIA opened -10, NASDAQ -6, S&P -1. 10 yr at 9:30 unchanged and mortgage prices -3/32 (.09 bp).

Next up; at 10:00, 3 data points. May construction spending expected to have declined 0.5%, was -0.2%. That is all the good news, the rest is bad. May pending home sales were expected to have declined 12.5%, they fell 30% and are down 16% yr/yr. More evidence in case anyone needed it that the housing sector is in depression. The June ISM manufacturing index and its components were not good either. The overall index was expected to have declined to 59.0 frm 59.7, as reported it fell to 56.2. The guts were also soft; new orders index fell to 58.5 frm 65.7 in May, prices fell on lower oil and deflation to 57 frm 77.5 and the employment index dropped to 57.8 frm 59.8. Any index reading over 50 is considered expansion so it is considered still a positive. The 10 yr note got a minor boost n the weak data but mortgages remain stressed; the DJIA fell to -60 on the knee jerk.

The remainder of the session will likely be quiet ahead of tomorrow’s June employment data; expectations are for job losses of 125K overall but private jobs up 105K; the unemployment rate at 9.8% from 9.7% in May. In May job gains were 431K but all of it census workers, now those jobs are over. We question the the estimates that private jobs will be up 105K markets are thinking, too high.