For the fifth consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member, Richmond Federal Reserve President Jeffrey Lacker, dissented in the 9-1 vote.
The Fed Funds Rate has been near zero percent since December 2008. It is expected to stay near-zero through 2014, at least. Continue reading
Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac. As a mortgage lender in Sacramento, and living in a state that has been hit hard by massive equity losses, this news is promising.
In December 2011, the number of foreclosure filings nationwide fell 9 percent from the month prior. Not since November 2007 has foreclosure activity been this sparse across the country.
The drop does not appear to be seasonal, either. Continue reading
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
As 2011 comes to a close, I pose the question I asked 9 months ago, should you buy or keep renting? It is a question I hear almost daily from first time homebuyers and those who lost homes when the housing bubble burst. Well, I have some good news!
