One Key to Moving is Knowing the Cost of Living in Your New City

December 29, 2009

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.

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Another Vacation Week this Week, Expect More Volatility

December 28, 2009

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 […]

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Rates Worsened Quickly Last Week, Reaching a 15 Week High

December 28, 2009

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.

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Home Prices Likely to Rise as Inventories Continue to Plummet

December 23, 2009

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.

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When It’s A Holiday Week, Mortgage Rate Shoppers Should Be Extra Vigilant

December 22, 2009

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.

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Plenty of New Data to Come Out, Despite the Short Week

December 21, 2009

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 […]

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Last Week’s Roller Coaster Ride Ended with Improved Markets

December 21, 2009

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 […]

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New Housing Starts are Good for Buyers, Bad For Sellers

December 18, 2009

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 […]

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Fannie Mae Raised the Bar. Again.

December 16, 2009

It’s Not Getting Any Easier to be Approved for a Home Loan 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 immediate changes are major. The first pertains […]

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Today’s FOMC Statement Simplified

December 16, 2009

Worst of Recession is Likely Behind Us 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 […]

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