The Federal Reserve adjourns from a scheduled, 2-day meeting today. It’s one of 8 scheduled Fed meetings for 2010. Upon adjournment, Fed Chairman Ben Bernanke & Co. will release a formal statement to the market. In it, the Fed is expected to announce “no change” in the Fed Funds Rate. Mortgage rates, however, WILL change.
Existing Home Sales rose in March, as expected. U.S. homebuyers closed on 7 percent more homes as compared to February.
Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent. Mortgage rates are rising this afternoon.
A Housing Start is a new home on which construction has started and, over the last 6 months, home builders are averaging one half-million starts per month. This marks the highest 6-month average since 2008 and a reading one-fifth percent better from 12 months ago. Revisions to prior data have all been higher, too.
More than 60 percent of U.S. homes are “over-assessed”, says an industry trade group. It causes homeowners to pay more in property taxes than they otherwise should have to. You might be one of them. Have you considered fighting it?
Each week, government-led Freddie Mac publishes a weekly mortgage rate survey based on data from 125 banks across the country. According to this week’s results, the relative rate of a 5-year ARM is extremely low versus its 30-year fixed-rate cousin.
This Sunday I will be hosting an open house at 1811 Swinford in West Knoxville just off Northshore. This an outstanding 4 bedroom home that is all brick exterior. The seller has done a bunch of… read more →
Part 6 The Knoxville Short Sale Packet “Working With The Negotiator“ In my last post we talked about part 5 “Getting the packet to the lender”. Today we are going to cover working with the negotiator.… read more →
Part 5 The Knoxville Short Sale Packet “Getting The Packet To The Lenders” In my last post we talked about part 4 “About The Buyer”. Today I’m going to cover getting the “Short Sale Packet To… read more →