Recent Articles
Pending Home Sales Index Posts Second Best Month Since April 2010
After 3 consecutive months of growth, the housing market appears to have eased a bit in December. According to the National Association of REALTORS®, December's Pending Home Sales Index slipped 4 percent from the month prior. The index measures … [Read More...]
A Simple Explanation Of The Federal Reserve Statement (January 25, 2012)
Wednesday, the Federal Reserve's Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The Fed Funds Rate has been near zero percent since December 2008. For the third … [Read More...]
The Federal Reserve Meets Today : Mortgage Rates Expected To Move
The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of 8 scheduled meetings this year. The FOMC is a designated, rotating, 12-person committee within the Federal Reserve, led by Federal Reserve Chairman Ben … [Read More...]
Existing Home Sales Approach Bull Market Territory
The housing market finished 2011 with strength, and is carrying measurable momentum into 2012. According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December's Existing Home Sales climbed … [Read More...]
What’s Ahead For Mortgage Rates This Week : January 23, 2012
The outlook for the U.S. economy improved last week, taking the mortgage bond market with it. For the first time this year, conforming mortgage rates rose throughout Maine from one week to the next. Data was strong across all categories last week. … [Read More...]
Behind The Housing Starts Headlines, The Story That Matters
When it comes to housing data, sometimes you have to look past the headlines. December's Housing Starts data offers a terrific illustration of why. Each month, the Census Bureau tallies Housing Starts for the month prior. A "housing start" is a home … [Read More...]
Housing Goes “Green”
Housing Goes "Green" Wherever you turn these days, it seems that someone is talking about "Green", or "Leadership in Energy and Environmental Design (LEED") certified buildings, and "Zero Energy Homes." Each of these share a commitment to reduced … [Read More...]
Home Builders See More Sales, Higher Prices Ahead
Homebuilder confidence is soaring. For the fourth straight month, the National Association of Homebuilders reports an increase in its Housing Market Index. The index climbed 4 points to 25 this month -- its second … [Read More...]
Foreclosure Filings Fall To 49-Month Low
Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac. In December 2011, the number of foreclosure filings nationwide fell 9 percent from the month prior. Not since November 2007 has foreclosure activity been … [Read More...]
What’s Ahead For Mortgage Rates : Week Of January 17, 2012
Mortgage markets gained last week, picking up momentum into the weekend. Global demand for mortgage-backed bonds helped push mortgage rates to new lows, and closing costs eased somewhat, too. According to Freddie Mac's weekly mortgage rate survey, … [Read More...]
Will Home Values Rise This Year?
Will your home gain value over the next 12 months? Nobody can know for sure, of course, but should recent housing trends continue, there's concrete cause for optimism. The housing economy has suffered since 2007, knocking home values down nearly 20% … [Read More...]
Fed Minutes Show An Improving U.S. Economy Threatened By The Eurozone
The Federal Reserve has released the minutes from its most recent Federal Open Market Committee meeting. The Fed Minutes are a detailed meeting recap; the companion piece to the more brief, more well-known press release. As a comparison, the minutes … [Read More...]
Home Affordability Set To Worsen On Thursday’s Retail Sales Data
Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers in Maine, it may also lead to higher mortgage rates later this week. Thursday morning, the … [Read More...]
Lock Your Mortgage Rate : New Loan Fees Expected Within Days
Starting soon, nearly all home buyers and refinancing households throughout Maine and nationwide will pay higher mortgage loan fees. Congress has made it law. 13 months ago, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job … [Read More...]
What’s Ahead For Mortgage Rates This Week : January 9, 2012
Mortgage markets improved last week, pushing mortgage rates in Maine lower for the second straight week. Conforming fixed and adjustable-rate mortgage cut new, all-time lows, and FHA mortgage rates did the same. In a holiday-shortened trading week, … [Read More...]
