Archive for November, 2016
Mortgage News – Nov 18, 2016
Mortgage rates rose as markets prepare for expected economic growth and anticipated inflation under the Trump administration. Inflation can bring higher rates. Fed Chair Janet Yellen’s comments this week support the idea of a Fed policy rate hike in December. Economists almost unanimously agree a hike is coming. Also supporting a possible Fed policy rate […]
Mortgage Market Snapshot – Nov 16, 2016
With the anticipating of rate increase, the number of re-fi jumped up 2% month-over-month. Average FICO score is now 731 which is the all time high. Although the days to fund/close is 48 days, most new purchase loan got closed in 30 days while re-fi took longer, about 60 days, so the average is 48 […]
ARMLS RENT Check™ – Oct, 2016
After all RENT Check indicators turned to RED last month, we got some good news for you as the down turn stopped at the median lease as well as month total number of closed rental. Both of them gained some positive ground in the month of Octover. In the meantime, the average lease just dropped […]
Mortgage News – Nov 11, 2016
Markets worldwide reacted to Trump’s victory, causing mortgage rates to rise. The reaction was to his proposed economic policies, not his political agenda. Initially markets were expected to react negatively to Trump’s win. Instead stocks rallied and bond yields skyrocketed on early belief that inflation will follow. The Fed is now overwhelmingly expected to raise […]
Owning vs Renting
Owning a home has great financial benefits. Because of this, more and more experts are growing concerned about the ramifications of a falling homeownership rate. Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. What […]
ARMLS RENT Check™ – Sept, 2016
All RENT Check indicators turned to RED last month. Median Lease: $1,295 – Decreased from $1,325 previous month. Average Lease: $1,477 – Decreased from $1,499 previous month. Avg. Days on Market: 30 – Increased from previous 28 days. Rent Check Quotient™: 3 : 10 – Remain flat as 3 : 10 last month. Closed Rental: […]
Mortgage News
The Fed voted not to raise policy rates at this week’s meeting, but did signal that they may raise rates at December’s meeting if economic improvement continues. Jobless claims were up slightly, but layoffs were at a 5-month low. A strong non-farm payroll report could fuel speculation that the Fed will raise rates in December. […]
Housing News – Nov 4, 2016
Although construction spending was down slightly in September, most of the drop was nonresidential. Spending on residential construction was up 0.5% for the month. Mortgage purchase applications were down slightly from the previous week, but were up 9% compared to the same week in 2015. First-time buyers represent 35% of homebuyers overall, according to a […]
