Archive for April, 2009
Fed Open Market Committee April 28th
Release Date: April 29, 2009
For immediate release
Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower. Household spending has shown signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit. [...]
What’s Ahead For Mortgage Rates This Week : April 27, 2009
Last week, like the 3 weeks prior, mortgage markets were all over the place from day-to-day.
But, also like the 3 weeks prior, when the week ended Friday, rates were right back where they started from Monday.
For the 4th straight week, mortgage rates started and ended the week essentially unchanged.
Whether or not this is good [...]
Finding Yourself In A Multiple-Offer Situation? You’re Not Alone.
The days of rock-bottom housing prices may be reaching an end.
According to the National Association of REALTORS, the number of Existing Home Sales fell by a modest 140,000 units last month. It’s the fifth straight month in which home sales straddled the 4.5 million mark.
The national housing inventory is down 900,000 from its July 2008 [...]
A Few Reasons Why Now May Be The Least Expensive And Easiest Time To “Go FHA”
Shopping for low mortgage rates is a game of luck.
Some days, mortgage rates are favorable. Other days, they’re not. And while you can sometimes make an educated guess about where rates might be headed, you’re not always going to guess right.
Even the experts get it wrong more often than they’d like.
But some parts of [...]
What’s Ahead For Mortgage Rates This Week : April 13, 2009
For the second week in a row, mortgage markets started the week strong and then ended with a fizzle. In the holiday-shortened week, rates were exactly flat overall.
There wasn’t much economic data to move rates last week, incidentally. The market’s up-and-down action was largely based on two events:
A reputable analyst said banking-sector optimism may be premature
Wells Fargo reported [...]
How To Know If Your Adjustable Rate Mortgage Will Adjust Lower
When conforming mortgages adjust, they’re often tied to an interest rate index called LIBOR.
LIBOR is an acronym for London Interbank Offered Rate. But what LIBOR stands for isn’t as important as the role it plays.
LIBOR is an interest rate at which banks borrow money from each other. Therefore, when banks feel the banking system as [...]
April 15 Is 1 Week Away And 27 Million Taxpayers Have Yet To File. If You’re One Of Them, Here’s Some Tax Tips.
There are 138 million taxpayers in the United States and, according to the IRS, 20 percent of them file their taxes within 7 days of April 15. In a holiday-shortened week, that means that 27 million people had better get a move on.
And while a portion of this year’s last-minute filers will file with storefront operations like [...]
