Bay Area Finance: Week 3, July 2009
Some news has surfaced that the Public-Private Investment Program, or PPIP, is spurring the market for both residential and commercial mortgage-backed securities. This program is one that I mentioned to you a couple of weeks ago in the July 9 edition of Weekend Wanderings where I described the formation of this partnership between the government and nine investment firms collaborating to buy the fabled “toxic assets” weighing down the portfolios of banks who own these securities. As the article mentions, a number of “bidlists” indicating investors’ desire to sell these securities were put into circulation in the market since the new program has encouraged legitimate buyers to surface. Now how does this market mumbo jumbo affect you? If there is strong demand for Mortgage-Backed Securities (MBS) in the financial markets, the price goes up on them and the yield goes down. When the yield on MBS goes down, so do mortgage rates. And that’s how it can affect you; and in fact, not just with better rates, but possibly with a general loosening of credit in general. This is what we’ve been hoping to see since September of ’07 when the subprime collapse kicked off the recession we’ve all been working through ever since. Keep an eye on the MBS market everyone. It’s a key indicator for us all.
If you’d like to learn more about the PPIP and MBS click here.
To contact me about financing your dream-home click here.
Weekend Wanderer’s Events
…finding the treasures in your town and beyond.
Two for This Weekend:
Hocus Refocused: The Magic of Chin-Chin in San Francisco From the website: “Chin-Chin, an “International Champion Magician” and S.F.’s 3-Time Magician of the Year, invites you to a thought-provoking journey sewn together with illusion, a vivid soundscape, dance, philosophy and imagination. Explore a world of magic seen through the eyes of a Chinese-Korean American. Discover the magic again!” It’s at Pier 39 on Saturdays and Sundays. Check it out at www.chin-chin.com
Castello Di Amorosa in the Napa Valley: If you’re ready to enter the medieval world of a truly authentic stone castle (which took 14 years to build stone by stone, by the way) and enjoy both the great wine and the great views from a hilltop in the northern Napa Valley you have found the place. Having just visited there myself, I can testify that the castle itself is stunning! With details seemingly asserting it was actually built a thousand years ago it is truly something to experience in our area. Please check it out at www.castellodiamorosa.com
Help Your Fellow Living Beings:
The College-Bound Foundation: From their website: “Our mission is to improve the educational performance and life choices of children from San Francisco public housing by pairing them with dedicated mentors, our Learning Coaches, and providing related support and enrichment activities. The cornerstone of our program is a one-to-one relationship between each child and a Learning Coach, beginning in the early years of elementary school and continuing through the child’s graduation from high school.” You can help, check out www.college-bound.org
Two Weekends from Now:
San Francisco Aloha Festival in The Presidio: Next Saturday is your chance to join the largest gathering of Pacific-Islanders of the year in Northern California. The festival taking place at the fair grounds of The Presidio will include music and dance, a canoe race, great island cuisine and activities for the kids. Enjoy the laid-back Aloha spirit and grab a little R&R in the island atmosphere. Admission is free too! Check it out at www.sanfranciscoalohafestival.org
Pic of the Week… from my own camera. 
“Frescoed Dining Hall at Castello Di Amorosa.”
Napa Valley, CA