Is the Stimulus Working?
This week, those beliefs could be shaken to the core — specifically because of Friday’s jobs report.
It’s no secret that the economy is growing.  Housing is improving, banks are re-capitalizing, and businesses are making capital investment.  However, employment is lagging.
More than 4 million jobs have been lost this year and the unemployment [...]

Rates Continue to Fall Even as the U.S. Dollar Weakens
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 [...]

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 backs a mortgage bound for [...]

What’s The Real Estate Market Doing?
Do you ever wonder how our real estate market is here in Des Moines? Unfortunately, we spend a lot of time listening to how rough things are in other cities around the country, but too often we don’t really consider what our real estate climate is like.
I’m a fan of [...]

Home Inventories Haven’t Been This Low in Nearly 3 Years
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 [...]

Lock in Your Rate, This Could Be a Bumpy Week
This week, though, because a heavy data calendar is combining with a holiday-shortened trading week, rates aren’t likely to stay as tame.

Monday: Existing Home Sales
Tuesday: Consumer Confidence, Home Price Index, Fed Minutes
Wednesday: New Home Sales, Personal Income and Outlays

Each of these data points are market-movers by themselves. [...]

Rates Rose For the First Time in a Month
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 [...]

Pay More Per Month but Save Money in the Long Run
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 [...]

Home Prices Are Up Already in Some Neighborhoods
A “Housing Start” is a home on which construction has started and, for the 4th straight month, national single-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 [...]

Loan Limits Haven’t Changed Since 2006
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 [...]