Home Sales in Des Moines Have Surpassed 2008’s Numbers

December 15, 2009

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 […]

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The Federal Reserve and It’s Tie to Mortgage Rates

December 15, 2009

Wall Street Sets Mortgage Rates, Not the Federal Reserve The Federal Open Market Committee meets today for the last time in 2009.  It’s a 2-day meeting and the Fed is expected to leave the Fed Funds Rate near 0.000 percent. But that doesn’t mean mortgage rates won’t change. See, a major misperception among the public […]

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Mortgage Rates Will Rely Heavily on FOMC’s Final Meeting of Year

December 14, 2009

FOMC to Meet for Final Time of 2009 on Wednesday This is one of the last remaining pieces in the economic recovery puzzle.  Job growth, of course, is another, and both will be in focus this week as the Federal Open Market Committee meets for its final 2-day meeting of the year.  The FOMC isn’t […]

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Mortgage Markets Worsened Again Last Week, Rates Suffered

December 14, 2009

Retail Sales Should Concern Mortgage Applicants Mortgage markets worsened for a second consecutive week last week amid debt default concerns and stronger-than-expected economic data. Dollars left the bond market and mortgage rates suffered. After re-reaching an all-time low December 1, mortgage rates have since rolled back to mid-November levels. Rates are still low right now. […]

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Higher Mortgage Rates Ahead as Economy Figures to Rebound in 2010

December 11, 2009

Today’s Retail Sales Predict Rates & Affordability for Next Year Versus October, November’s ex-auto sales were up by more than 1 percent. Analysts expected the increase, but not an increase of this magnitude. “Ex-auto” means that motor vehicles and parts are excluded from the data. Home values are increasing in many parts of the country and […]

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Foreclosures Down for the 4th Straight Month

December 10, 2009

Activity Still Dominated by Small Set of States Since peaking in July 2009, national foreclosure activity has dropped through 4 consecutive months.  On a month-to-month basis, November’s foreclosure activity fell another 8 percent.  However, national foreclosure activity continues to be dominated by a minority of states. As reported by RealtyTrac.com, more than half of November’s […]

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An Easy Way to Increase Your 2009 Mortgage Interest Tax Deduction

December 8, 2009

If Eligible, Take Advantage! For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid. Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their January 2010 mortgage payment before the end of the year. By paying in 2009, the mortgage interest paid can be applied against […]

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Rates Expected to Rise Again This Week

December 7, 2009

Rates Tend to Rise Faster Than They Fall Last week was a bad week to not be locked in. Unfortunately, this week may not be much better.  Without much data due for release, momentum should lead mortgage rates higher. Amid a few confidence surveys and a speech by Fed Chairman Bernanke, the biggest news on […]

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Markets Worsened & Rates Jumped Last Week

December 7, 2009

What Caused the Rise? Mortgage markets finally reversed course last week, selling off with fury and causing prices to plummet.  When bonds prices fall, rates rise. The action broke a multi-week winning streak, much to the disappointment of rate shoppers everywhere. Rate hikes came in stages. First, early in the week, mortgage bonds fell out […]

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Mortgage Rates Are on the Rise

December 4, 2009

Unemployment Number Begin to Decline This morning’s jobs report is causing mortgage rates to rise, capping a week during which rates have already jumped 3/8 percent off all-time lows. The government’s November Non-Farm Payrolls report reinforced the notion that the recession is nearly over, if not over already. Just 11,000 jobs were lost last month — much fewer […]

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