M Squared Real Estate - Joshua Oliver

Apr 29

What’s Ahead For Mortgage Rates This Week – April 29, 2013

April 29, 2013 By Joshua Oliver Leave a Comment

Mortgage rates fell again last week and are again near record lows. According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago. The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent. Low mortgage rates are helping homeowners with refinancing and are boosting housing markets as more buyers can qualify for mortgage loans. Home … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Consumer Confidence, Economy, Fannie Mae, Federal Housing Finance Agency, Federal Open Market Committee, Financial News, Freddie Mac, Friday, mortgage rates, National Association of Realtors, U.S. Housing Market

Feb 25

What’s Ahead For Mortgage Rates This Week: February 25th, 2013

February 25, 2013 By Joshua Oliver Leave a Comment

A quiet past week in economic news caused mortgage rates to worsen slightly. This week, however, will be packed with economic reports which may have an impact on interest rates going forward. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from 3.53 percent to 3.56 percent with borrowers paying 0.8 in discount points and all of their closing costs. The average rate for a 15-year fixed rate mortgage was unchanged from last week at 2.77 … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Consumer Price Index - CPI (CPIS), Economic calendar, Freddie Mac, Inflation, Mortgage loan

Jan 03

Post-Fiscal Cliff, Mortgage Markets Turn Attention To Jobs Data

January 3, 2013 By Joshua Oliver Leave a Comment

Mortgage rates moved higher Wednesday up congressional leaders voted to avoid the "Fiscal Cliff". Mortgage-backed securities (MBS) fell as investors bid up stock prices. Confidence among investors and consumers typically causes mortgage rates to rise. That's what happened Wednesday. For Thursday and Friday, expect jobs data to dictate where District of Columbia mortgage rates are headed. The Federal Reserve has said that the national Unemployment Rate will dictate future monetary … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Federal funds rate, Federal Reserve System, Friday, Jobless claims, Jobs, Mortgage loan, Unemployment, Unemployment Rate, Wall Street, washington dc

Dec 19

Homebuilder Confidence Rises For 9th Straight Month

December 19, 2012 By Joshua Oliver Leave a Comment

The National Association of Home Builders (NAHB) released its Housing Market Index (HMI), showing another monthly gain -- its ninth in a row. The HMI -- a gauge of homebuilder confidence -- rose 1 point to 47 in December 2012, lifting the index to its highest levels since April 2006. Readings under 50 indicate unfavorable housing conditions for builders. Readings over 50 signal "good" conditions. Coincidentally, the last time that the HMI read above 50 was April 2006, too. The Housing … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: HMI, Housing Market Index, NAHB

Dec 04

How To Maintain Adequate Homeowners Insurance Coverage

December 4, 2012 By Joshua Oliver Leave a Comment

In the aftermath of Hurricane Sandy, stories have emerged of homeowners whose hazard insurance coverage was too low to cover the damage to their respective properties. Unfortunately, this scenario is common among U.S. homeowners, and is not just limited to damage from natural disasters. Homeowners in DC and nationwide are often woefully under-insured against catastrophe in its many forms. Whether you're buying a home, or own one already, revisit your hazard insurance policy choices and … [Read more...]

Filed Under: Neighborhood News Tagged With: Condominium, Cover version, Dwelling Coverage, Financial Services, Home insurance, Homeowners Insurance, Insurance, Insurance policy, Liability Coverage, Natural disaster, Real estate broker

Nov 13

When It Pays To Refinance Your Mortgage — Literally

November 13, 2012 By Joshua Oliver Leave a Comment

To refinance a mortgage means to pay off your existing loan and replace it with a new one. There are many reasons why homeowners opt to refinance, from obtaining a lower interest rate, to shortening the term of the loan, to switching mortgage loan types, to tapping into home equity. Each has its considerations. Lower Your Mortgage Rate Among the best reasons to refinance is to get access to lower mortgage rates. There is no "rule of thumb" that says how far rates should drop for a … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Adjustable-rate mortgage, Closing Costs, Fixed interest, Fixed rate mortgage, Home equity, Loan, Loan Term, mortgage, Mortgage loan, Refinance, Refinancing

Oct 24

Home Supplies Drop To Multi-Year Low

October 24, 2012 By Joshua Oliver Leave a Comment

As the third quarter closed, home resales showed considerable momentum nationwide. The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago. An "existing home" is a home that's been previously occupied; a resale. The reading marks the second-highest tally of the year -- second only to August 2012 when 4.83 million homes were sold on a … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Existing Home Sales, Existing Home Supply, foreclosure, NAR, National Association of Realtors, real estate, Real estate pricing, Sales, September, U.S. Housing Market, washington dc

Oct 16

Buyers Win 6.6 Percent Increase In Purchasing Power

October 16, 2012 By Joshua Oliver Leave a Comment

Mortgage rates in District of Columbia continue to troll near all-time lows, boosting the purchasing power of home buyers statewide. According to Freddie Mac's most recent Primary Mortgage Market survey, the average 30-year fixed rate mortgage is now 3.39 percent nationwide, just three ticks off an all-time low. At the start of last quarter, 30-year fixed rate mortgage rates averaged 3.62 percent. One year ago, they averaged 4.12%. When mortgage rates are falling, they present DC home … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Buyer, Fixed rate mortgage, Freddie Mac, Market research, Mortgage loan, mortgage rates, Purchasing Power, U.S. Housing Market, washington dc

Oct 05

Fed Minutes Detail QE3 Discussion; Mortgage Rates Down

October 5, 2012 By Joshua Oliver Leave a Comment

The minutes from the Federal Reserve's September Federal Open Market Committee meeting were released Thursday. The Fed Minutes detail the discussions and debates which shaped the central banker's launch of its third round of qualitative easing since 2008. The minutes also give Wall Street insight into future monetary policy. At 6,987 words, the Fed Minutes provides a level of detail that was unavailable via the FOMC's post-meeting press release, a documen that, by contrast, ran 562 … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Ben Bernanke, Central Bank, Economic, Fed Minutes, Federal Open Market Committee, Federal Reserve System, FOMC, QE3

Sep 26

Home Price Index Shows Values Rising 3.7% From One Year Ago

September 26, 2012 By Joshua Oliver Leave a Comment

Tuesday, the Federal Home Finance Agency's Home Price Index (HPI) showed home values rising 0.2% on a seasonally-adjusted basis between June and July 2012, and moving +3.7% on an annual basis. Home values have not dropped month-to-month since January of this year -- a span of 6 months. For today's home buyers and sellers throughout DC , though, it's important to recognize on what the HPI is actually reporting. Or, stated differently, on what the HPI is not reporting. The Home Price … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: District of Columbia, Fannie Mae, Federal Housing Administration, Federal Housing Finance Agency, FHFA, Freddie Mac, Home Price Index, House price index, HPI, Price index, washington dc