Home Prices Improving in Most U.S. Markets

October 28, 2009

Real Estate is Local For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It’s the first time in 3-plus years that the benchmark housing index has shown such strength. According to a Case-Shiller Index spokesperson, “The rate of annual decline in home price values continues to improve.” It’s […]

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$8,000 Tax Credit Expiration? Or Extension for Des Moines?

October 27, 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 Buyer’s Market is Ending as Home Supplies Continue to Fall

October 27, 2009

Multiple Offer Situations Are Becoming More Common The national housing supply fell to a 2-year low last month, according to the National Association of Realtors®. At the current sales pace, existing home inventories would sell out in 7.8 months — 30 percent faster versus November 2008. For a 10-month window, that’s a major housing supply […]

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Consider Locking Your Rate Before Rates Rise Much Further

October 26, 2009

The Time to Float Has Passed The volatility should continue into this week, too. With little data and no Fed speakers, look for mortgage rates to move with the market’s momentum. Lately, momentum has been pulling rates higher so if you’re floating a rate and trying to time a bottom, the chances are good that […]

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After 3 Weeks of Rates Rising, Last Week Ended Unchanged

October 26, 2009

Shopping For Rates is Difficult in a Volatile Market On most days, lenders issued multiple rate sheets with the trend putting rates higher in the morning, and lower in the afternoon. Overall, mortgage rates were unchanged on the week. It broke a three-week streak through which mortgage rates rose. Rates remain roughly one-half percent higher […]

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Home Values Edged Lower in August

October 23, 2009

Home Values are Down for First Time Since April The Federal Housing Finance Agency’s Home Price Index report shows values down by 0.3 percent from the month prior — the index’s first down month since April. The Home Price Index is based on the value of homes financed via Fannie Mae or Freddie Mac and, in this […]

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Gas Prices and Mortgage Rates Go Hand in Hand

October 22, 2009

The Weakening U.S. Dollar Forces Rates Up With crude oil at its highest levels since October 2008, retail gas is up 8 cents per gallon this week. It’s bad news for home buyers and mortgage rate shoppers.  The same force that’s driving oil higher is linked to rising mortgage rates. We’re talking about the weakening U.S. Dollar […]

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Housing Starts Have Risen in 8 Out of 9 Months This Year

October 21, 2009

What is a Housing Start? A “Housing Start” is a home for which the foundation has been excavated and, considered alongside other key market metrics, September data suggests that the housing market has stabilization is complete. Momentum in housing is overwhelmingly positive: Homes under contract are soaring National home supplies are way down Home values are up in a lot of […]

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What Are the Changes to the New Good Faith Estimate?

October 20, 2009

It’s Longer Yet Simpler to Understand The new Good Faith Estimate makes its debut January 1, 2010. Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it to be simpler for homeowners and home buyers to understand than the former version. By most accounts, Congress will meet this goal.  The new […]

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Mortgage Rates Should Continue to Rise

October 19, 2009

Multiple Factors Contribute to Mortgage Rates This week, rates could move higher still.  There are an unusually large number of key economic reports including on housing and inflation, plus a handful of speeches from key Federal Reserve members. With each positive announcement, mortgage rates should rise. You Can Stay Updated! I’ll be following things as they […]

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