Archive for September, 2009
The Case-Shiller Shows Home Prices Are Still On Their Way Up
September 30th, 2009 categories: Buyers, General, Market Trends, Sellers
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Fannie Mae Passes New, Tougher Mortgage Guidelines
September 29th, 2009 categories: Buyers, General, Market Trends, Sellers
Getting approved for a mortgage is about to harder.
For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines.
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The Extension Cord Idea You’ve Been Waiting For
September 28th, 2009 categories: Buyers
The traditional, 6-socket surge protector is a ubiquitous product in American homes.
It also happens to be rife with design flaws, the most glaring of which is the socket layout.
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A Simple Explanation Of The Federal Reserve Statement (September 23, 2009 Edition)
September 23rd, 2009 categories: Buyers
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
It also reiterated plans to support the mortgage market to the tune of $1.5 trillion.
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Home Prices Rise Again In July
September 23rd, 2009 categories: Buyers, Market Trends, Sellers
As reported by the government, home prices are rising nationwide, up 0.3 percent in July.
Furthermore, versus November 2008, the Home Price Index has clawed back to unchanged.
The housing market appears to be holding its own
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Should You Lock Your Mortgage Rate In Advance Of Tomorrow’s Federal Reserve Announcement?
September 22nd, 2009 categories: Buyers, General, Market Trends
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 of the year.
The Fed’s post-meeting press release is a direct look into the mind of the Federal Reserve and Wall Street is looking for clues anywhere it can find them.
After its August 2009 meeting, the FOMC said in its press release:
- Financial markets have improved, relative
- Household spending remains constrained
- Although weak, the economy is “leveling off”
Since then, however, credit risks have lessened on Wall Street, consumer spending have shown signs of life and Fed Chairman Ben Bernanke said the recession is “very likely over”.
This is why tomorrow’s FOMC press release is so important. Markets don’t expect the Fed to raise or lower the Fed Funds Rate, but they do expect the Fed to shed light on its next series of moves.
If the Fed alludes to inflation and stronger growth ahead, mortgage rates should rise. By contrast, reference to slower growth ahead should help keep rates steady.
The FOMC is expected to leave the Fed Funds Rate within its target range of 0.000-0.250 percent — the lowest it’s been in history. However, it’s what the Fed says Wednesday that will matter more than what the its does.
If you’re floating a mortgage rate or wondering if the time is right to lock, the safe approach is to lock prior to 2:15 PM ET Wednesday.
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How To Maintain A Lawn In The Fall
September 21st, 2009 categories: General, Sellers
Lawn care needs change with the season. How your cut it, how you water it, and how you feed it depends on the weather and the forecast.
In the video above from YouTube, the gardening expert clearly covers how to maintain a lawn in the Fall.
- Why to keep leaves off the grass at all times
- How to set your watering schedule
- How to set a mowing schedule
We also learn why it’s important to fertilize.
With October’s cooler temperatures on the way, it’s time to start planning for Fall. This 150-second video covers important ground. It’s far from comprehensive with respect to lawncare, but it is a terrific start.
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Housing Starts Slip, But Don’t Think The Recovery’s Been Halted
September 18th, 2009 categories: Buyers, General, Market Trends
Housing Starts on single-family homes took a step backwards last month, falling month-over-month for the first time since January.
A “housing start” is new home on which construction has started.
Don’t let the slowdown fool you, however – the housing market’s recovery is still very much underway.
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The Housing Market Index Reaches A 16-Month High
September 17th, 2009 categories: Buyers, General, Market Trends
According to the country’s home builders, the housing market is looking good.
Each month, the National Association of Home Builders releases its Housing Market Index report, a survey geared at taking “the pulse of the single-family housing market”.
Respondents report on three facets of their business, each series weighted and averaged:
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Ben Bernanke Leaves Clues About The Future Of Mortgage Rates
September 16th, 2009 categories: Buyers, General, Market Trends
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.
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