NMLS 338105

1 (866) 861-5708


   NMLS 337855



New Home Purchase
Purchase Basics, Qualification, Loan Calculators (How much home can you buy?)

Refinance Basics, Loan Calculators

Free Consultation



Alternative Mortgage Sources is an independent loan brokerage owned and operated by Broker/Owner Beth Hoffman since 1986. Beth has earned a reputation for "demystifying the loan process" while delivering superior service to over 2,500 clients throughout the state of California.

Alternative Mortgage Sources is a full service mortgage broker offering expertise in every area of mortgage lending...from purchases to refinancing. We have access to a full range of mortgage sources to find the right loan — with the best rates, terms and costs — to meet our clients' unique needs. But that's just the beginning. Throughout the lending process, we provide regular loan updates and progress reports so clients always know the status of their loan.

Beth Hoffman, dba Alternative Mortgage Sources,
CA Dept. Of Real Estate Real Estate Broker, DRE # 00685309
NMLS #337855/NMLS #338105


Q3 Productivity Registers Largest Decline Since 1960

07-Dec-21 09:22 ET

10-Year: - 2/32 1.46%   US/JPY: 113.66  EUR/US: 1.1242


Data Recon

  • The revised Q3 Productivity and Unit Labor Costs report showed productivity being revised down to -5.2% (Briefing.com consensus -4.9%) from the advance estimate of -5.0%. That is the largest decline in productivity since the second quarter of 1960. Unit labor costs were revised up to 9.6% (Briefing.com consensus 8.2%) from 8.3%.
    • The key takeaway from the report is the connection between weakening productivity and rising costs, which isn't a good combination for company profits.
    • Output increased 1.8% (versus prior 1.7%) and hours worked increased 7.4% (versus prior 7.0%). The unit labor cost increase resulted from hourly compensation increasing 3.9% (from 2.9% prior) and productivity decreasing 5.2% (versus 5.0% prior).
    • From the third quarter of 2020 to the third quarter of 2021, nonfarm business sector labor productivity decreased 0.6% (versus -0.5% prior). That's the lowest four-quarter rate since the fourth quarter of 1993.
  • The October Trade Balance Report showed a narrowing in the deficit to $67.1 billion (Briefing.com consensus -$66.8 billion) from a downwardly revised $81.4 billion (from $80.9 billion) in September, with exports up $16.8 billion and imports up $2.5 billion from September levels.
    • The key takeaway from the report is the uptick in both exports and imports, which is a good sign of increased economic activity on a global basis. Exports to China increased $2.8 billion and exports to the European Union increased $1.6 billion. Exports of industrial supplies and materials increased $6.4 billion.
    • The real trade deficit narrowed to $97.6 billion, which was 6.2% less than the Q3 average. That will factor favorably in Q4 GDP forecasts.

Yield check:

  • 2-yr:   +2 bps to 0.66%
  • 3-yr:   +3 bps to 0.94%
  • 5-yr:   +3 bps to 1.24%
  • 10-yr: +2 bps to 1.46%
  • 30-yr: +2 bps to 1.78%

Bond Market Update

Prop. 19 passes, but questions about California property tax measure remain

Same-sex spouses can now get Social Security Survivor Benefits