Eugene Oregon 
The Eugene Oregon Insider - Real Estate & More
There are currently 15 blog entries related to this category.
Eugene Oregon Mortgage Rates Lower Again This Week
Saturday, October 3rd, 2009 at 8:14pm. 242 Views, 8 Comments.
Oooohhhhhhh, the rates are soooo low right now, as shown below. But obviously it's not the rates that are keeping the buyers away. More likely it's the unemployment rate that makes them nervous. I certainly can't blame them!
The national unemployment rate moved from 9.6% to 9.8% with this morning's Labor Dept report for the month of September. Of course, the buyers in this area are looking at an unemployment rate much higher here in Lane County and the state of Oregon . So, it makes sense that they're nervous about taking on any major debt at this time. However, for those who feel secure in their jobs, this is an excellent time for them to either purchase for the first time, or move up to the home they wanted three years ago, but were priced out of…
Eugene Oregon - First Time Home Buyer To Take Advantage Of Low Mortgage Rates
Saturday, September 5th, 2009 at 8:38pm. 269 Views, 4 Comments.
Mortgage rates are lower this weekend than last, as shown below. They hit another good low on Wednesday, and held through Thursday, but have increased somewhat today.
The employment data came in early this morning, and showed the unemployment rate at 9.7%, up from 9.4% last month.That's not a big surprise. Nor is the fact that the number of jobs lost during August is down from what was expected. What this basically means is that we are losing jobs at a lower rate than before. (Not great, but not bad either). The other side of that, ie; the unemployment rate, will most likely continue to increase for a time while companies figure out what they can live with in terms of the necessary people to meet production demand. That number is always lower going…
Eugene Oregon - Mortgage Rates Steady - Giving Buyers More Time
Monday, July 6th, 2009 at 12:12am. 380 Views, 12 Comments.
Mortgage rates were a little worse earlier this week, but with the jobs report that came out this morning the bond market has made some gains as stocks take a dive. The rates below are just slightly higher than last Friday, but with the sour economic news they are likely to trend a little lower into next week.
This is as good a time as any to remind you that, although some of the lender's turn times are getting better, a 30 day contract close is still too optimistic. Remember, the lenders with the very best rates are more likely to have extended underwriting times. It's your buyer's loan officer's job to provide them with the best rate, and you with accurate information on closing times. I take that job very seriously.
I'll be available by my cell…
Eugene Oregon - Mortgage News
Sunday, June 28th, 2009 at 1:58pm. 340 Views, 4 Comments.
Rates are little better today over last Friday, as shown below. The stock markets aren't as happy as they were last week, and the FOMC meeting I referred to in last Friday's email didn't seem to make much of an impact. Therefore, the bond market is doing better as of now. The auctions of long term government debt were well received earlier this week, which again helped the bond market make some gains.
That's it in a nutshell, but I'd like to talk about a couple of rumors and reports out there in medialand that buyers may be asking you about. A possible $15,000 tax credit for all buyers, not just first-timers has been proposed, but is definitely not even close to being approved. When I tried to calculate what that would cost the government in revenue…
Mortgage Rates Climb For Second Straight Week
Saturday, June 13th, 2009 at 8:12pm. 417 Views, 5 Comments.
Yes! Rates are up from last Friday, but they are down from earlier this week. The Bond market took a pretty good beating from a few of the economic reports that came out, indicating that things might be getting better. But, the big hurt was that several of the foreign buyers of US debt
( US debt is in fact our bond market), indicated that they had little confidence in our ability to repay that debt. So, China , Russia , the European market, etc said they “may not” invest in our bond market. This drove the price of bonds down, and likewise, mortgage rates up.
Is this starting to make sense to you in how it all works? After all, when the sub prime implosion hit, the banks no longer wanted to buy mortgage backed securities, and most of them actually…
Eugene Mortgate Rates Up This Week
Saturday, June 6th, 2009 at 12:22am. 320 Views, 6 Comments.
Not a good week here in loan land! (See rates below). The bond market has taken some pretty big hits all this week, due primarily to investors taking advantage of the profits to be gained from the great run up in bond pricing over the past few weeks. The investors have sold off their bonds at higher prices and have moved these assets to the stock market. Please understand that there is far more to it than that, but in laymen's terms that's essentially what is taking place.
The other side of that equation is the stock market making some gains.This is happening because many of the economic reports coming in are indicating the presence of that proverbial light at the end of the tunnel, as far as the recession is concerned. However, that light may, in…
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…
Eugene Mortgage News - Mortgage Rates
Monday, March 30th, 2009 at 12:49am. 304 Views, 1 Comments.
Mortgage rates look similar to last week at this point, as noted below. However, the mortgage backed securities have gained some strength today, and are not necessarily affected by the general bond market numbers. Both consumer spending and consumer confidence numbers came in higher toady, but higher after record lows doesn't hold a lot of water. The truly good news is that the Federal Reserve purchased the most MBS this past week, and has had a significant impact on overall mortgage rates. It has done this by allowing more funds to be available for mortgage lending instead of sitting dormant in the banks asset accounts waiting for bailout funds. It's all good.
The other great news I'm seeing is that the government's loan modification program is…
Eugene Oregon Real Estate | 2008 Homes Sold Statistics
Saturday, January 3rd, 2009 at 3:11am. 643 Views, 0 Comments.
It's that time of year to look at Eugene and Lane County, Oregon real estate sales statistics for 2008. These statistics gathered from RMLS include all Lane County except Florence Oregon real estate sales statistics because Florence has such different demographics which include the majority of new residents are higher-aged, no children at home, lower house hold income patterns, yet a relatively high percentage of cash-paying home buyers as well as other market characteristics not shared with Greater Lane County. In 2004 Florence was named the #1 place to retire in the United States, so based on these very different housing trends we will look at all other Lane County homes sold separately.
For this study the Eugene real estate market including the…
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