Minutes of the Federal Open Market Committee recently released may have a significant impact on mortgage rates going forward. One significant development from the meeting suggests that the present quantitative easing program may be modified in the near future.
A devastating tornado hit a suburb in Oklahoma yesterday with wind speeds of up to 200 mph killing adults and children. The tornado raced through the suburb of Moore and ripped through two elementary schools. The tornado touched down near 3:00pm with just a 16 minute warning. Government Sponsored Enterprise Fannie Mae published its monthly [...]
Looking ahead, economic news for this week includes the Existing Home Sales report for April with an expectation of 5.00 million homes sold on a seasonally-adjusted annual basis against the March tally of 4.93 million homes sold.
Also set for release on Wednesday are the Federal Open Market Committee (FOMC) Minutes for the meeting held April 30 and May 1.
In economic news, the Commerce Department reported that durable goods orders for April rose 3.3%, beating consensus estimates of 1.6%. The previous month was revised to -5.9% from -6.9%. Durables are orders for long lasting manufactured goods such as aircraft and washing machines. Excluding transportation, orders rose 1.3%, which also beat consensus estimates of 0.5%. [...]
The foreclosure front received some good news today as Lender Processing Services (LPS) reported that the number of Americans in the foreclosure process continues to decline as the housing markets recover, down almost 25% in the past year. LPS went on to say that total delinquency for loans 30 days or more past due, but [...]
Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes.
Big changes may be ahead for the mortgage markets. Today, the head of the Mortgage Bankers Association stated today that he feels that federal policy makers should merge the Mortgage Backed Securities issued by Freddie Mac and Fannie Mae in an effort to begin replacing the Government Sponsored Entities (GSEs) and coming up with one [...]
If you are thinking about doing an FHA refinance or considering buying a home with a low down payment and using an FHA (Federal Housing Administration) loan to do it, then you should act now. On June 3, FHA borrowers will be required to pay for mortgage insurance for the entire life of the loan. [...]
Video and Transcript of “Avoiding Foreclosure”: If you are facing the prospect of a foreclosure, knowing a few tips could save you and your credit score from a lot of headaches. Stay in touch with the mortgage company and do not ignore past due notices. Mortgage companies usually want to avoid foreclosure as much as [...]
Other Recent Posts
Emortgages.com was delighted to be a trophy sponsor at Petaluma’s 2013 Salute to American Graffiti. This event is an annual celebration of American Graffiti, classic American cars, cruising the “main drag”, rock ‘n roll music and the “happy days” of the ‘50s and early ‘60s. We gave the task of choosing our trophy winner to [...]
Flowerbeds can be a very attractive addition to any |**CITY % CITY**| home — if you have the time to set up and maintain them. Flowerbeds donât necessarily require a profusion of costly flowers that need to be fertilized, mulched, covered during severe weather and possibly re-planted on a yearly basis.
It can be very difficult to determine what your property is worth in the current marketplace, because you are biased by what the property is worth to you. These emotions can get in the way of impartially evaluating a property and often cause sellers to overprice their home.
This week the economic calendar is light with readings on the housing sector the highlight. Existing and New Home sales will be released this week and comes after Housing Starts fell 16.5% in April. The fall in starts was due largely in part to a plunge in apartment construction. The summer driving season unofficially kicks [...]
Going green is not just a new trend; it is a way of life that benefits not only the environment, but also your health â and your pocketbook.