The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent. The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the economy may still be contracting, but that it’s [...]

The Federal Reserve adjourns from its two-day meeting this afternoon. It’s one of 8 scheduled meetings each year for the Federal Open Market Committee. Like all FOMC get-togethers, the purpose of the meeting is to discuss financial and economic conditions in the U.S., and to make new policy to stimulate or retard economic growth, when [...]

Monday, mortgage markets improved with news of new Swine Flu cases. It’s a classic example of Safe Haven buying and today’s rate shoppers will see the benefits. Mortgage rates improved about 0.125 percent Monday. It’s not an official term, but “Safe Haven buying” describes the trading patterns in which large numbers of investors move money [...]

Last week, like the 3 weeks prior, mortgage markets were all over the place from day-to-day. But, also like the 3 weeks prior, when the week ended Friday, rates were right back where they started from Monday. For the 4th straight week, mortgage rates started and ended the week essentially unchanged. Whether or not this [...]

The days of rock-bottom housing prices may be reaching an end. According to the National Association of REALTORS, the number of Existing Home Sales fell by a modest 140,000 units last month. It’s the fifth straight month in which home sales straddled the 4.5 million mark. The national housing inventory is down 900,000 from its [...]

If falling home values is what prompted Fannie Mae and Freddie Mac to tighten mortgage guidelines in 2007 and 2008, America’s mortgage applicants may get their long-awaiting loosening within the next 18 months. According to a government report, the values of homes financed with conforming mortgages rose for the third straight month in February. This [...]

Check out these two quotes: Interesting to note that when the National Media reports positve news as opposed to negative what are we to think?

Check out these two quotes: Interesting to note that when the National Media reports positve news as opposed to negative what are we to think? Let’s look at the CBS Quote and one line in particular: “For all those reasons, there’s really never been a better time to go shopping for real estate.” NBC Today [...]

National real estate data helps economists identify trends in the housing market. It shapes policy and influences markets. For active home buyers and home sellers, though, national real estate data is irrevelant. This is because national data says nothing for the factors determining home prices in any given zip code. See, national real estate news [...]

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