Social Media Bootcamp for Realtors a Success

January 14, 2010

Today was the first ever Social Media Bootcamp for Real Estate Professionals put on by Bill Risser and Paul Guenther from Chicago Title Gilbert.
The Realtors that attended this camp had an extensive list of homework that they had to complete before they were given the location of the venue. The idea was that we [...]

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What’s Ahead For Mortgage Rates This Week : January 11, 2010

January 11, 2010

Data was sparse through 2010’s first trading week last week, setting the stage for a week of momentum trading.
In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn’t last long.
Rates improved Monday and Tuesday as an oversold market corrected itself to better price points.  Then, in anticipation of the December [...]

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Looking At The 2010 Predictions For Housing Markets And Mortgage Rates

January 5, 2010

2010 is just a few days old and already the “experts” are making predictions for the year.
Housing calls and mortgage rate predictions run the gamut:

Home prices will fall in 2010
Home prices will rise in 2010
Mortgage rates will rise in 2010
Mortgage rates will rise by a lot in 2010

Given how varied their outlooks, it’s [...]

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What’s Ahead For Mortgage Rates This Week : January 4, 2010

January 4, 2010

Mortgage markets were relatively flat last week during holiday-shortened trading.  After starting the week with a Monday surge higher, mortgage rates settled down thorough Tuesday and remained somewhat flat into the early-close for New Year’s Eve.
However, as compared to the 4-month low posted post-Thanksgiving, conforming mortgage pricing has now worsened by more than 300 basis [...]

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What’s Ahead For Mortgage Rates This Week : December 21, 2009

December 21, 2009

Mortgage markets improved last week as pricing followed a roller coaster-like pattern. After touching a 6-week high Tuesday, rates rallied to weekly lows Thursday, and then jumped back higher Friday.
Despite the improvement last week overall, mortgage pricing remains significantly worse from the all-time lows set in late-November.
Oddly, last week’s most prominent mortgage-related story wasn’t the [...]

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Housing Starts Jump; Home Sellers Lament.

December 18, 2009

Housing Starts jumped last month as builders got back to business.  It’s a telling sign for the economy, but bad news for next season’s sellers.
With more homes coming online, home prices may be slow to rise nationwide.
A “Housing Start” is a privately-owned home on which construction has started. In November, starts rose by nearly 9 percent [...]

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A Simple Explanation Of The Federal Reserve Statement

December 17, 2009

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy “has continued to pick up”, that the jobs markets is getting better, and that housing market has shown “some signs of improvement” lately.
It’s the fourth straight [...]

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Fannie Mae Gets Tough(er) On Borrowers. Again.

December 16, 2009

Fannie Mae raised the bar for mortgage applicants this past weekend.  Getting approved for a home loan just got harder.
In its official announcement, Fannie Mae says the updates minimize long-term lending risks.  If that’s the case, this won’t be the last guideline change Fannie Mae makes — especially with loans defaulting at an above-normal clip.
The [...]

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The Federal Reserve’s Relationship To Mortgage Rates

December 15, 2009

The Federal Open Market Committee meets today for the last time in 2009.  It’s a 2-day meeting and the Fed is expected to leave the Fed Funds Rate near 0.000 percent.
But that doesn’t mean mortgage rates won’t change.
See, a major misperception among the public is that the Federal Reserve sets mortgage rates. That’s false.  Mortgage rates [...]

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What’s Ahead For Mortgage Rates This Week : December 14, 2009

December 14, 2009

Mortgage markets worsened for a second consecutive week last week amid debt default concerns and stronger-than-expected economic data. Dollars left the bond market and mortgage rates suffered.
After re-reaching an all-time low December 1, mortgage rates have since rolled back to mid-November levels.
Rates are still low right now. Just not as low.
And meanwhile, last week’s big story [...]

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