Investors heard the opening bell Wednesday but they must not have heard the Macy's news. The retailer lost $59 million in the first quarter. And the Labor Department apparently hasn't been to the gas station lately. It claims the rate of price increase consumers pay for stuff is slowing down.
The Dow ended the trading day up 65.71 points to close at 12,897. The Nasdaq also closed up 1.58 points at 2,496.
More homeowners fell behind on their mortgage payments in the last month. Figures from RealtyTrac show more than 243,000 homes received at least one foreclosure related filing in April. The number is up 65% from the same month last year and up four percent since March.
Nevada, Arizona, California and Florida are among the hardest hit states. More than one million home foreclosures are forecast this year.
He played for Howard Schnellenberger at U of L, then won a super bowl ring with the 49ers, and Wednesday is back in Louisville.
Klaus Wilmsmeyer punted for more than 16,000 yards in pro football, today he's working to get customers the best possible score on their mortgage.
"Back in the pro days we had a blow horn go off in camp at 5:30 or 6 AM, we worked until ten or eleven o'clock at night. I've carried that over to my current career," said Wilmsmeyer.
You'll remember Klaus Wilmsmeyer as a Louisville Cardinal who had a 6 year career in the National Football League including a Super Bowl with the 49ers. Today Klaus is the CEO of Eagle Nationwide Mortgage. "Kicking taught me to be consistent and that's one other I've carried over in my business, be consistent with my customers. Be fair, this way everybody knows they're being treated the same."
Klaus has worked in the mortgage and banking industry for nearly ten years. "Right now the business is still excellent rate wise, we're still at historic lows, rates have been in the fives and lowers sixes, there's been alot of change though. Fannie Mae and Freddie Mac has implemented some new rules that your rate will be dictated by your score, so score is important."
Your credit rating has never been more important because of the sub prime mortgage mess. Perhaps second most important is making sure you know what you're getting in a mortgage.
"Business is still good it's just a matter of working with the right people with integrity and telling people you're gonna do what your gonna do, give them a good faith estimate so they know what to expect, you'll close more loans and get more referrals that way. I try and be a little creative and do things for the customers so they're happy and at the end of the day when you receive a phone call two or three days later from a friend or family member and they mention your name, you know you've done a good job and that feels good," said Wilmsmeyer.
Klaus had many feel good moments on the football field; as a kicker he retired with a quarterback ranking more like Peyton Mannings because he completed the only pass he ever threw. "Well when you're one for one you get a good chance of having a good rating. I was with the Saints I believe and I think it was against the Dolphins one of the teams I ended up playing for, a fake punt, completed for 18 yards, that's how you get the 118, you get the 100 percent plus the yardage."
To catch up on Klaus Wilmsmeyer football career and get a quick lesson on mortgages, you can check out his website, www.EagleNationwideOnline.com. That link can also be found by going to our homepage and clicking newslinks.
For nearly three in ten households, don't even bother trying to call them on a house phone. They only have a cell phone or seldom if ever take calls on their traditional phone.
The federal figures showed in the second half of last year, 16% of households only had cell phones, while 13% also had landlines but got all or nearly all their calls on their cells. Underscoring the rapid growth, in early 2004 just 5% had only cell phones.
If you're calling someone under age 30; about a third of them only have cell phones.