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 [...]

More positive signals from housing — home values are still on the rise. According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October. Prices are up in 4 of the last six months.

It’s not only the real estate markets that differ from town to town — the Cost of Living does, too. Insurance costs, tax bills and just plain, day-to-day living will dent a household budget differently depending on where that household is.

Momentum Could Swing Either Way this Week
This week is again holiday-shortened so expect the same low-volume, high-volatility trading as last week.  There’s few data releases save for Tuesday’s Case-Shiller Index. Therefore, watch for momentum trading in either direction.
Markets close early Thursday and re-open Monday, January 4, 2010.  If you need to lock a rate, make [...]

The holiday-shortened week marked the third out of 4 during which rates worsened and last week’s action happened to be especially harsh. Monday’s action was the worst for rates since July, for example. Tuesday’s was only slightly less worse. Today, conforming, 30-year fixed mortgage rates have reached at a 15-week high — well off the lows set in early-December.

Existing Home Sales surged 7-plus percent in November, posting its largest number of recorded sales in 33 months. Sales volume is up 44% higher versus last year. It’s another example of the housing market in recovery.

Between now and January 4, 2010, be prepared for big swings in mortgage pricing from day-to-day. Shopping for a mortgage could be a challenge.

Holiday Week Could Swing Rates in Either Direction
Debt concerns should remain in focus this week. Furthermore, there’s a bevy of domestic data that could swing rates in either direction, too.  Most notably, watch for Tuesday’s housing data, Wednesday’s inflation data, and Thursday’s consumer confidence data. Each can be a powerful influence on rates.
There will be [...]

Markets Expected the “No Change” Vote
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 most influential one.
On Wednesday, the Federal Open [...]

Housing Starts Posted the Highest Number in 12 Months
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 [...]