Mortgage markets improved last week as news from the Federal Reserve, the U.S. economy, and Europe combined to spur new demand for mortgage-backed bonds. Continue reading
What Mortgage Rates Are Doing This Week : January 30, 2012
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Rates Improve! A Simple Explanation Of The Fed Statment Today
The Fed Funds Rate has been near zero percent since December 2008. To be fair, on Jan 13th we saw rates at their lowest mark in over a year, only to see them deteriorate over the last week and a half. With the Fed news today, we are seeing a marked improvement – but not to the levels we saw January 13th.
For the third consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1 vote, objecting only to the language used in the Fed’s official statement.
What Mortgage Rates Are Doing This Week : January 23, 2012
Data was strong across all categories last week.
- Home Resales :Existing Home Sales rose 5%
- New Homes : Single-Family Housing Starts rose 4%
- Builders : Home Builder Confidence rose to a 5-year high
- Jobs : Jobless claims fell to lowest level since April 2008
- Inflation : CPI remained in balance Continue reading
Will Home Values Rise in 2012?
The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. Here in Sacramento, the hit has been much larger (30% to 50%). And while some areas have fared better as compared to others, in general, home values are down. Continue reading
Mortgage Payments Fall 12% Since February 2011
This is for my good friend Mark! We were at a year-end get-together (aka Drinking beer at the pub) with my rowing crew and he kept reminding me that rates are dropping. Thank you Mark! As mortgage rates drop, so do housing payments. It’s a good time to consider refinancing your home, or making an offer on a new one. Mortgage payment affordability has never been so high in history. Continue reading