April 2009 
There are 3 blog entries for April 2009.
Oregon Mortgage Rates: Weekly Update - Lane County - Eugene
Sunday, April 26th, 2009 at 3:34pm. 475 Views, 8 Comments.
Mortgage rates for 15 and 30 year fixed loans stayed the same this week. However, the ARM rates got substantially better. That may mean that the investors in MBS (mortgage-backed securities) are loosening up a bit, and are more willing to take on these loans. Of course the guidelines are still very strict, but ARMs can be a great option for certain situations, especially in Jumbo loans.
The Commerce Dept released their report on Durable Goods Orders, (products that are intended to last more than 3 years), this morning, and it showed a decline in the orders of .8%. While this doesn't seem like a good thing, the analysts were predicting a drop of 1.5%. So, the report is better than expected, and certainly open to “spin”.
Also, reported today was the…
Eugene Oregon - Have We Hit Rock Bottom
Friday, April 17th, 2009 at 11:54pm. 491 Views, 10 Comments.
Mortgage rates are still about the same as last week, as shown below. Obviously rates are not the problem! Nor have they been for many months; actually 7+ years if truth be told, but then after a while it all becomes relative. There are most likely some buyers out there who are waiting for that “perfect storm” where interest rates, and home prices, bottom out; everything goes crazy and they finally put their hook in the water.
I hope you are telling your clients that hitting that point in time is like crabbing on the Bering Sea; Good Luck! You have to really know what you're doing, and be willing to suffer the consequences.
There are so many awesome buys out there right now that they need to be in this market if they are at all interested,…
Eugene Weekly Mortgage Update - Eugene Oregon Home Loan News
Saturday, April 4th, 2009 at 12:10am. 639 Views, 6 Comments.
Mortgage rates have inched up just slightly, as noted below. The Labor Dept reported 663,000 jobs lost in March, which should have rallied the bond market and pushed rates lower. However, that number was less than had been anticipated, so it was seen as a plus by investors. After yesterday's stock rally the S&P 500 is up 23% since March 9 th when it hit a 12 year low.
Stocks were not really affected today by the jobs report because employment is always a ”lagging indicator”. As the economy starts to turn and regain some strength, employment is usually last to recover. Investors also seem to be saying that they hold out some real hope that the steps being taken by the government will actually work. Again, it's a change in attitude that will bring about…
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