Mortgage markets improved last week on stronger-than-expected economic data and safe haven buying. The holiday-shortened trading week amplified what should have been modest gains into large ones. Conforming mortgage rates dropped by about a quarter-percent last week, dropping them near their best levels of the year — and of all-time. Oddly, mortgage rates are falling… Continue Reading
Monthly Archives: November 2009
The Home Price Index Shows Home Values Increasing. Case-Shiller Agrees.
It’s official — home prices are no longer in free fall. According to the Federal Housing Finance Agency, the Home Price Index posted its first quarterly increase since 2007 last quarter. The news was reported Tuesday. The Home Price Index is an interesting metric. It’s huge in its scope, accounting for every home sold in the country that… Continue Reading
Existing Home Sales Blow Past Expectations
Another month, another piece of evidence that the housing market is in recovery. Existing Home Sales surged in October as the nation’s homebuyers took advantage of low mortgage rates, low list prices, and, for some, a generous tax credit. Home resales are 23 percent higher versus a year ago and home supply is down to 7 months nationwide…. Continue Reading
What’s Ahead For Mortgage Rates This Week : November 23, 2009
Mortgage markets worsened last week on a mixed bag of economic data. Inflation data came in soft, but so did the start of the holiday shopping season. For the first time in a month, mortgage rates worsened last week, adding roughly 0.125 percent on conforming fixed-rate products, and a little bit more on ARMs. Despite rates… Continue Reading
Should You Consider A 15-Year Fixed Mortgage?
For today’s home buyers and homeowners that can manage the higher monthly payments, 15-year fixed rate mortgage rates look attractive as compared to comparable 30-year products. The 15-year/30-year interest rate spread is near its 5-year high. Despite lower rates, however, homeowners opting for a 15-year fixed mortgage should be prepared for its higher monthly payments. This is… Continue Reading
Housing Starts Are Down And Why It’s Terrific News For Sellers
A “Housing Start” is a home on which construction has started and, for the 4th straight month, nationalsingle-family housing starts held steady last month. When the demand for homes grows faster than the number of homes for sale, prices increase. As recent home sales data confirms, buyers currently outpace sellers and one consequence of this is… Continue Reading
Alert: Missing Dog in Gilbert Area
This was forwarded to me from a Realtor that I work with. If you see this dog, the contact info is below. Please Cross Post****** ______________________________________________________________ Good Morning Everyone. One of my co-workers dogs was accidentally let out of her yard last night around 7pm. ( 11/17/09 ) The dog is a young male red… Continue Reading
2010 Conforming Loan Limits Announced
A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac. Each year, the government sets the maximum allowable loan size for a conforming mortgage, based on “typical” housing costs nationwide. Loans in excess of this amount are typically called “jumbo”. While home prices increased from… Continue Reading
Doug Lazovick Explains Deed Street to Realtors in Phoenix Today
Doug (@deedstreet) spoke to a group of Realtors today at Realty Executives in Ahwatukee. Deed Street is going to to be huge in how Real Estate professionals use Twitter and Social Media in their marketing and connecting efforts…. Continue Reading
Bill Risser Spreading the Good Word of Social Media
Today at Realty Executives in Ahwatukee, Bill Risser (@billrisser) and Paul Guenther (@mytitleguypaul) from Chicago Title gave an intro presentation to Realtors that are interested in exploring Twitter as a tool for their business. Among the people were myself (@shollenback), Nick Bastian (@raillife), Doug Lazovick (@deedstreet), and Alberto Madrid (@albertomadrid)… Continue Reading