August 2008 
There are 3 blog entries for August 2008.
Weekly Eugene Oregon Real Estate Mortgage Rates Update
Saturday, August 30th, 2008 at 1:04am. 559 Views, 6 Comments.
The GDP (Gross Domestic Product), the widest measure of our national economy has seen a revision this morning that indicates that the economy is growing faster than previously thought. However, the growth is directly tied to the stimulus package checks that hit consumers during the 2 nd quarter. So, it remains to be seen what the economy will do over this quarter and next. You know what they say about statistics.
I want to take a moment to clarify the information regarding the $7,500 tax credit for first time homebuyers that I spoke of in the last edition of my weekend report. First let me tell you that this was a bill passed in Congress, and signed into law in July, called the “Housing and Economic Recovery Act of 2008. Let me put this in bullet…
Mortgage Rates Holding Steady For Oregon Home Buyers
Friday, August 22nd, 2008 at 10:00pm. 534 Views, 6 Comments.
As you can see below, rates haven't changed much in the last week. There have been a few reports out that were favorable to the bond market, and would have pushed rates lower, but the reports that have indicated that the threat of inflation still weighs heavy on the minds of investors, has prevented that from happening. Mortgage rates are still great though.
You may have seen information on the new $7,500 tax credit available to first time homebuyers. Essentially it is a tax credit worth 10% of the home's sale price up to $7,500. It can be taken on homes purchased between 4/9/08 and 7/1/09. It is designed to get first time homebuyers energized. But understand that this is a tax credit, not upfront money. So, it remains to be seen whether or not…
Weekly Oregon Mortgage Rates Update - Florence Oregon Real Estate Broker
Friday, August 1st, 2008 at 8:26pm. 599 Views, 5 Comments.
July's employment report was released this morning. It showed that unemployment rose to a four year high of 5.7%. However, it also reported that just 51,000 jobs were lost during the month. I say “just”, because analysts were expecting 75,000 jobs lost. Either way the figures point to continuing weakness in the economy.
The Federal Reserve has another meeting next week, but it's not expected to change the short term rates at this time. As I've mentioned before, they're in a difficult spot. They would like to lower the short term rate to stimulate the economy, but the threat of inflation is too great to risk it right now.
Speaking of stimulus; the checks that were received back in May and June have now been cashed and spent. They did stimulate…
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