Archive for September, 2009
Should You Lock Your Mortgage Rate In Advance Of Tomorrow’s Federal Reserve Announcement?
The Federal Open Market Committee starts a 2-day meeting today in Washington.
The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets.
Consider locking your mortgage in advance of the press release.
The FOMC meets 8 times annually and its adjournments are among the biggest market-movers [...]
The Housing Market Index Reaches A 16-Month High
According to home builders around the country, the housing market is looking good.
Each month, the National Association of Home Builders releases its Housing Market Index report, a survey meant to “take the pulse of the single-family housing market”.
Respondents report on three facets of their business, each series weighted and averaged:
How are market conditions today?
How do [...]
Ben Bernanke Leaves Clues About The Future Of Mortgage Rates
On the 1-year anniversary of the Lehman Brothers collapse, Fed Chairman Ben Bernanke said Tuesday that the “recession is very likely over at this point”.
His comments were supported by a Retail Sales report for August that was much better-than-expected.
Equities improved on the day, mortgage markets worsened, and home affordability suffered.
The days of ultra-low mortgage rates [...]
Using 401(k) Funds For A Downpayment? First, Consider The Tax Implications.
As downpayment requirements increase, anecdotally, home buyers are tapping 401(k) plans for extra cash.
Classified as a ”hardship withdrawal”, loans against your retirement funds can be cheap and simple.
There’s no credit check or approval process
There’s only a small set of paperwork
Money can be available in as little as a day
But just because you can get access to [...]
