Job Growth is Key to Our Economic Future

February 4, 2010

On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as “the jobs report” and it swings a big stick on Wall Street. Especially now — many analysts believe job growth is tightly linked to the future of the U.S. economy.

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Expect a Strong Spring Market Based on the Pending Home Sales Index

February 3, 2010

A Pending Home Sale is a home that is under contract to sell, but not yet sold. It’s a figure compiled by an industry group using sales data from over 100 regional listing services and more than 60 large brokerages around the country.

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So, What Is a Shortsale?

February 2, 2010

A “Short Sale” is when a home seller sells his home for a lesser amount than what is owed on his mortgage, and the mortgage lender agrees to accept the lesser amount in lieu of a full payoff.

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Job Reports are Key to Rate Locking This Week

February 1, 2010

Inflation Is Part of Mortgage Rate Movement First, we start this week with key inflation information (whoa, that rhymed!).  When inflation runs higher, it’s usually bad for mortgage rates.  Inflation is expected to be tame though.  Last week, the Fed made several shots at this in its meeting press release last week.  That said, inflation […]

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Last Week’s Data Came with Surprising Results, Lower Rates

February 1, 2010

In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week’s data and domestic story lines, it’s surprising that rates actually fell.

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National Home Prices are at Their Highest Since February 2009

January 29, 2010

Reporting on a two-month lag, the government said home values rose 0.7 percent in November. National home prices are at their highest point since February 2009. But before we look too much into the FHFA’s Home Price Index, it’s important that we’re cognizant of its shortcomings; the most important of which is its lack of real-time reporting.

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What Did the Fed Statement Say Anyway?

January 27, 2010

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 strengthen”, that the jobs markets is getting better, and that financial markets are supportive of growth.

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Actions Don’t Always Speak Louder Than Words

January 27, 2010

The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It’s the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. Here is a rate-locking strategy for you.

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As Expected, Home Sales Plummeted in December

January 26, 2010

Just one month after from blowing away Wall Street, December’s Existing Home Sales hit the skids, shedding nearly 17 percent and falling to a 4-month low. Don’t be alarmed, though. It was expected.

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Rates Could Creep Back Up This Week

January 25, 2010

A Lot is Going On This Week First, on Monday, the December Existing Homes Sales report will be released.  The report is expected to be extremely weak as compared to November.  This is because of a combination of factors including: The initial tax credit expiration date of November 30, 2009 Sharply rising mortgage rates throughout […]

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