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Aug 26

Mortgage Rates Bounce Off All-Time Lows; The Start Of A Trend?

August 26, 2011 By 2 Comments
mortgagerates

Low mortgage rates are terrific -- if you can get them. One week after posting its lowest mortgage rate in 50 years, Freddie Mac reports that the 30-year fixed rate mortgage rose by an average of 7 basis points nationwide this week to 4.22%. To get the rate, you'll pay an average of 0.7 "points". This week's rise in the 30-year fixed rate mortgage pulled rates off their all-time lows so either you locked last week's rock-bottom rates, or you missed it. Mortgage rates are rising. As a … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , , ,
Aug 11

Strong Job Growth In July Trumped By Credit Downgrade

August 11, 2011 By Leave a Comment
emp-report

More Americans are getting back to work. The latest Non-Farm Payrolls survey from the Bureau of Labor Statistics shows that 117,000 net new jobs were created in July, thumping analyst estimates and surprising Wall Street investors. In addition, May and June's originally-reported figures were both revised higher: May 2011 was revised higher by 28,000 jobs June 2011 was revised higher by 28,000 jobs The national Unemployment Rate slipped to 9.1 percent. The jobs report's strong … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: , , , , , , ,
Aug 03

A Mortgage Rate Strategy For July’s Jobs Report

August 3, 2011 By 1 Comment
3mo-jobgrowth

  At 8:30 AM ET Friday, the Bureau of Labor Statistics will release the July 2011 Non-Farm Payrolls report. Mark it in your calendar. If you've been watching mortgage rates fall to new all-time lows this week and fear a mortgage rate reversal, Friday could be the day. The monthly Non-Farm Payrolls data can swing a big stick in mortgage markets. More commonly called "the jobs report", Non-Farm Payrolls details the U.S. workforce, providing sector-by-sector analysis of workforce, … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , ,
Jul 29

Pending Home Sales Rise For 3rd Straight Month

July 29, 2011 By 1 Comment

Buyers are writing contracts at a furious pace nationwide. On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month to reach its highest level since March. A "pending home sale" is a home under contract to sell, but not yet closed. The forward-looking Pending Home Sales Index is up 11 percent from its low of the year, according to the National Association of REALTORS®, and well ahead of its rolling 6-month average. Unfortunately, national data isn't … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , ,
Jul 27

New Home Supplies Keep Shrinking; Prices Pressured Higher

July 27, 2011 By Leave a Comment

Home builders are slowly reducing inventory. According to Census Bureau data, the number of new homes slid 1 percent from May. On a seasonally-adjusted, annualized basis, home buyers bought 312,000 newly-built homes last month. It's the third straight month of falling sales and the headline data casts the DC housing market in a negative light. Upon closer inspection, however, the numbers appear quite strong. First, sales are down marginally. Total units sold have dropped just 2 … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , ,
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