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Understanding the Fed Statement – January 28th, 2009

January 28, 2009

What’s The Fed Up To? Today, The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged. The Fed Funds Rate (FFR) remains within a target range of 0.000-0.250 percent. Talking Points of Today’s Statement In today’s press release, the FOMC reiterated most of the key points from its December 2008 statement, including: […]

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Rates May Be Falling, But How Are The Costs?

January 27, 2009

Headlines Speak to the Masses More big headlines about mortgage rates falling to an all-time low. Just last week, Freddie Mac published its weekly mortgage rate survey and found that the “average” mortgage rate is now 4.96 percent. This is the lowest rates have been reported since the survey started in 1971. Looking Beyond the […]

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Mortgage Market and Rate Forecast – Week of January 26th, 2008

January 26, 2009

It’s a Short and Quiet Week This week, markets hope to calm down. There’s a handful of economic news releases including Existing Home Sales, New Home Sales and consumer confidence surveys that will help paint a clearer picture of the economy. However, the Federal Reserve’s 2-day meeting should steal a lot of the spotlight. The […]

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Mortgage Market and Rate Recap – Week of January 19th

January 26, 2009

Rates Moved Higher Last Week, But Not Because of What You Think Last week, mortgage rates rose for the second week in a row. They’re now measurably higher than the low point set 3 weeks ago. Don’t worry though, this isn’t permanent. For mortgage rate shoppers, though, last week’s most important stories were not last week’s most […]

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Des Moines Iowa Real Estate Market Recap – Week of January 12th, 2008

January 22, 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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Why Your 5.00% Mortgage Rate Could Potentially Be 3.6%

January 20, 2009

Homeownership Has It’s Advantages An often mentioned benefit of homeownership is its tax benefits. However, like most IRS-related topics, understanding how the benefits work is not always crystal clear. In general, homeowners are entitled to two home-related tax deductions — one for annual mortgage interest paid, and one for real estate tax bills paid. Not […]

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Mortgage Market and Rate Forecast – Week of January 19th, 2008

January 19, 2009

It’s a Short and Quiet Week It’s another holiday shortened week. Markets are closed on Monday in honor of the Martin Luther King holiday. It’s also a quiet week when it comes to scheduled economic reports being delivered. Just Because It’s Quiet Week Doesn’t Mean Things Can’t Move Quickly Earnings season continues this week, so […]

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Mortgage Market and Rate Recap – Week of January 12th

January 19, 2009

It’s Earnings Season! Last week saw the start of earnings season for the fourth quarter of 2008, and this is likely to be one earnings season everyone hopes passes quickly. The banking sector was in the spotlight all week. Citigroup reported an $8.29 Billion loss, completing its worst year ever since its inception in 1812. […]

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Bad Economic News Can Be GOOD For Mortgage Rates

January 16, 2009

Bad News Happens After a very weak holiday shopping season, annual retail sales declined in 2008. Interestingly enough, It marks the first annual Retail Sales decline since the government started tracking it 40 years ago. It also confirms that the U.S. economy is suffering through a deeper recession than we previously thought. Consumers pulling back […]

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