Tagged : Mortgage rates 
There are currently 7 blog entries matching this tag.
Friday Update - Mortgage Rates Steady - Home Buyer Tax Credit Extended
Friday, November 6th, 2009 at 8:32pm. 1344 Views, 0 Comments.
As shown below mortgage rates are about the same as last Friday. Seems you're seeing that on a fairly consistent basis over the last few months. The employment report was issued this morning by the Labor Dept, and it came in even worse than expected. Unemployment is up to 10.2% nationally which is the worst since April of 1983, also in that report were figures that show worker productivity was up substantially. This means that if the GDP grew in the last quarter as it was reported, then it was done with fewer workers than before. We'll skip the actual stats because the concept is very evident.
If companies can run at full or increased capacity with fewer workers, they are not going to start hiring new workers until they absolutely have to in order to…
Eugene Oregon Mortgage Rates Lower Again This Week
Saturday, October 3rd, 2009 at 8:14pm. 747 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…
Lane County Oregon - Mortgage Rates Remain Steady
Sunday, August 23rd, 2009 at 9:16pm. 1180 Views, 0 Comments.
Mortgage rates are the same as last week, as shown below. This mornings release of the existing home sales figures, which was the highest in two years, coupled with Fed Chairman Ben Bernanke's comments have pushed the bond market down, but once again we're seeing a knee jerk reaction to positive economic news. I suspect that things will settle again next week when the naysayers have their say.
I'm sure you've heard a lot of grumbling about the new rules governing the mortgage industry. It will go on for some time, but the reality is that we will simply have to work with it until “they” figure out the changes are not actually helping the consumer at all. In the meantime you need to know there can and will be delays in turn times for closings. Things…
Eugene Oregon - Mortgage Rates Lower This Week
Saturday, August 15th, 2009 at 10:03pm. 697 Views, 1 Comments.
Okay! Rates are better today after being higher earlier in the week. You'll see the rates below, but I wanted you to note that the 5/1 ARM is now showing an “Interest Only” rate. I've found this to be somewhat useful for the executive types that are breezing into town and don't plan on staying in the home for long, but want a nice showy place for social functions. God bless ‘em. :)
Also, as I've mentioned before, I don't usually attach anything to my posts. However, the attached article (PDF File) is from the Harvard Law and Policy Review, and could give you a bit of insight into why foreclosures, and more importantly, short sales, are so hard to deal with. The article is entitled “Modifications of Mortgages in Bankruptcy”, which I realize…
Eugene Oregon - Mortgage News
Sunday, June 28th, 2009 at 1:58pm. 550 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…
Eugene Oregon - Have We Hit Rock Bottom
Friday, April 17th, 2009 at 11:54pm. 806 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. 925 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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