15-Year Fixed Rate Mortgages Look Cheap Compared To Comparable 30-Year Fixeds

March 25, 2011

If you’ve ever explored the idea of using a 15-year fixed rate mortgage for your home, the math is in your favor today. Talk to your loan officer before rates start rising.

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New Home Sales Fall To a New Recorded Low

March 24, 2011

Sales of newly-built homes plunged 17 percent to an seasonally-adjusted, annualized 250,000 units in February, and the supply of new homes rose to 8.9 months in February — a 1.5 month jump from January. But there’s more to the story.

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10 U.S. Cities With The Biggest Rent Increases in 2010

March 23, 2011

The average apartment vacancy rate is 6.6% nationwide, down from 8.0% last year, and the number of occupied apartments rose by more during Q4 2010 than during any comparable period of the last 10 years. It’s a major reason why rents are up 2.3%.

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Existing Home Sales Dropped In February

March 22, 2011

Existing Home Sales fell 10 percent last month, according to a report from the National Association of REALTORS®.

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Rates *May* Move Lower Again This Week

March 21, 2011

Here’s Why You Shouldn’t Bet on it: In general, when there’s inflation in the U.S. economy, mortgage rates rise. This is because inflation devalues mortgage bonds, the underlying security on which mortgage rates are based. So, last Tuesday, the Federal Open Market Committee met and in its post-meeting press release, the group said inflation pressures […]

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Des Moines Home Buyers Took Advantage of Lower Rates Again Last Week

March 21, 2011

Last week marked the 5th straight week through which mortgage rates improved. It’s the longest such streak since August 2010 and, this week, rates may run lower again. You may not want to gamble on it, though.

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Great News For Sellers — Housing Starts Were Down In February!

March 18, 2011

Home prices are based on supply and demand and overall home supply looks headed for a fall. Sellers are poised to regain negotiation leverage.

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Home Builders Optimistic About this Spring’s Housing Market

March 17, 2011

According to the monthly Housing Market Index as published by the National Association of Homebuilders, after 4 straight months of reading 16, March homebuilder confidence ticked 1 point higher to 17. It’s the highest confidence reading in 10 months.

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What Did the Fed Have to Say Today?

March 15, 2011

Today, for the second straight meeting, the Federal Open Market Committee voted unanimously to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent. The vote was 10-0.

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Volatile Rates Ahead This Week

March 14, 2011

Watch Out!  The Market Could Move in Either Direction. The biggest news on tap this week is the Federal Open Market Committee’s 1-day meeting, scheduled for Tuesday. The Fed is expected to leave the Fed Funds Rate near 0.000 percent, but that doesn’t mean that mortgage rates won’t change. The FOMC’s post-meeting press release will […]

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