Good afternoon,
The big news of the day was the jobs report, which was good,
meaning lots of new jobs.
The Dow gained 207 points and the 10 year treasury dropped
.09%. The MBS was down 69 bps today, and sitting on some technical resistance.
The Dow finished at 15,248 up from last week’s 15,115.
The 10 year treasury closed at 2.16%, same as last week’s
2.16%, which was the highest it has been since April 5 2012.
The dollar is at $1.30/Euro.
The attached rates are up as much as a half percent versus
two weeks ago. Not all are up that much, some aren’t up at all.
Your basic conforming 30 fixed is in the 4% ballpark.
I’d like to remind everyone that these are still
historically low rates.
Jumbo
We’ve got some new Jumbo products. One of them is 11% down,
single lien, to $1,250,000 in loan.
It has PMI, but it is pretty cheap PMI.
Nothing too quirky about it, as jumbo’s go.
Rates on the 5/1 are comparable to rates on Jumbo 30 fixed.
Wine
2011 Patient Cottat "Le Grand Caillou" Sauvignon
Blanc ($10.99 @ K&L Wines) I’ve recommended this in the past, and served it
at picnics. Good stuff.
“Sancerre at half the price! The Fournier family, with roots
as deep as their vines in this region, seem to be related to just about
everyone in some way. They've been farming and producing wines in Sancerre for
generations. We are pleased to have been offered this wine, yet again, at such
a great price. Soft, subtle mineral notes are wrapped up in aromatics of melon
and citrus. Clean, bright and refreshing, this is a perfect little Sauvignon
Blanc. Tropical fruit, citrus and spice aromas and flavors, with vibrant
acidity and minerality. Perfect for goat milk cheeses or seafood.”
2008 La Valentina, Spelt, Montepulciano d'Abruzzo - $18.99 @
The Wine Club
92 points The Wine Advocate
“ A more sophisticated side of Montepulciano emerges from
the 2008 Montepulciano d’Abruzzo Spelt. Sweet floral notes lead to dark red
berries and spices in this polished, gracious Montepulciano. La Valentina did a
great job with the 2008, a wine that shows the pure elegance and refinement
that Montepulciano is capable of. Sweet floral notes add lift on the finish. A
pretty, beautifully balanced, silky wine loaded with class, the Spelt should
drink well for the better part of the decade. Best of all, the Spelt is a
fabulous value. Anticipated maturity: 2014-2020”. - Wine Advocate, Antonio
Galloni
2011 Artezin Mendocino County Zinfandel ($12.99 @ K&L
Wines)
92 points Wine & Spirits: "(listed as a Best Buy)
Rustic in the best sense, this has the deep, resinous herb scent that's made
Mendocino famous. The tannins lend grit to the palate, along with layers of
flavor that fill the mouth completely even as the wine coasts along. Decant a
bottle while you marinate a butterflied leg of lamb for the grill." "
K&L Notes: Artezin is a Hess Family Estates label
focusing on, you guessed it, Zinfandel. Artezin Mendocino County Zinfandel is a
blend of sustainably farmed grapes from family-owned vineyards in the
ridgelines and benchlands of the Ukiah Valley--which has long been the secret
Zin pantry for big-name brands in Sonoma County.
2011 Balletto Estate Russian River Valley Pinot Noir ($21.99
@ K&L)
92 points Wine Enthusiast: "An exceptionally good
Pinot, from a winery that frequently gets overlooked, perhaps because they're
not charging an arm and a leg. The wine is light and silky in the mouth, with
alcohol well under 14%, and marked with crisp acidity and fine-grained tannins.
The flavors are classic pomegranates, rhubarbs and black cherries. Should
develop over the next 4-6 years. What a great value. Cellar Selection -S.H
"
K&L Notes: If you're a big fan of Russian River Valley
Pinot Noir, you've probably drunk wine from grapes that Balletto farms. They're
farmers first of all, who converted a thriving vegetable business into
vineyards at the turn of this century. They've got a no-nonsense approach, and
since they own the grapes, they've kept prices within everyday reach--but they
keep some of the best stuff for themselves. Balletto wines are popular in
Sonoma County's local markets for their price to quality ratio. This Pinot is
composed of small lots of grapes from vineyard in the southwestern Russian
River Valley area, and the as-yet-unofficial "Sebastopol hills" area:
36% Occidental Road, 36% Burnside Road, 14% Mill Station, 6% Sexton Hill, 4%
Pierre's and 4% BCD. From Balletto's vintage notes: "This ruby-colored
Pinot Noir has an intense aromatic profile that begins with equal parts bright
fruit (dark cherry, tart rhubarb, floral violets) and savory elements of cola,
cardamom and coffee. Then, there's a touch of dark toast and forest-floor
earthliness that round out the aromas and give it extra depth. The smells are
complex and ever-changing in the glass over time."
2011 Terredora di Paolo, Fiano di Avellino DOCG - $17.99 @
Wine Club – I’ve been recommending wines from this producer for years, and
their 2006 Aglianico is still among the best value wines I’ve ever bought, and
I bought a lot of it. Sadly, it is all gone. Fiano is a rare white grape that
produces a fun wine when it works. The only local producer I know of calls it
the best grape you’ve never heard of.
95 points Decanter Magazine, reviewer Tom Maresca
“ Delightful hazelnuts and pear fruit on the nose and
palate, fine racy acidity and good body.”
Add Antonio Galloni's glowing words, and you get a complete
picture of this outstanding wine.
"Juicy apricots and peaches are some of the many notes
that flow from the 2011 Fiano di Avellino Terre di Dora. A rich, textured wine,
the 2011 is built more on the fruit than on some of the more varietal notes
that are often present, but the wine’s textural elegance is impossible to miss.
Shades of tropical-infused fruit wrap around the viscous finish. Anticipated
maturity: 2013-2014."
$17.99
Greg Vanslow
Mortgage Planning Specialist
Princeton Capital
Telephone (650) 917-4263 | Mobile (650)
537-7905 | Private Fax (408) 335-1176
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