First, the good news. The housing market received a serving of good news last week, as New Home Sales reportedly rose 17.5% in December to come in better than expectations.
Monday, January 31, 2011
"A house is not a home unless it contains food and fire for the mind as well as the body." - Benjamin Franklin.
Last week, the housing market received some food and fire for the mind, but not everyone was at home with the news.
First, the good news. The housing market received a serving of good news last week, as New Home Sales reportedly rose 17.5% in December to come in better than expectations.
First, the good news. The housing market received a serving of good news last week, as New Home Sales reportedly rose 17.5% in December to come in better than expectations.
Monday, January 24, 2011
"Bet your bottom Dollar?" These days the more appropriate question is: Where is the bottom of the Dollar?
Let’s take a look at why... and what this could mean for home loan rates!
1. Some of the Dollar’s drop is attributed to the recent strength in the Euro, which has gotten a boost from some positive stories of late, like Spain and Portugal's ability to sell debt in the Bond market without crisis. But the question is...have Europe's problems gone away? No - there will be more problems ahead for the region and as they emerge, we should see a reversal in the Euro's strength along with improvement in the US Dollar.
2. Another reason for the Dollar's weakness is the Fed’s Quantitative Easing
1. Some of the Dollar’s drop is attributed to the recent strength in the Euro, which has gotten a boost from some positive stories of late, like Spain and Portugal's ability to sell debt in the Bond market without crisis. But the question is...have Europe's problems gone away? No - there will be more problems ahead for the region and as they emerge, we should see a reversal in the Euro's strength along with improvement in the US Dollar.
2. Another reason for the Dollar's weakness is the Fed’s Quantitative Easing
Tuesday, January 11, 2011
Tax Deadline Extended! But What If You Need More Time?
This year, instead of your tax filing being due on Friday, April 15, you’ll have a few extra days to complete and file your taxes. That means your tax filing isn’t due until Monday, April 18, 2011.
The three extra days have been added because of Emancipation Day, which is a little-known Washington, D.C. holiday that celebrates the freeing of slaves in the district. The holiday actually falls on Saturday, April 16 this year, but will officially be observed on Friday, April 15. As a result, the IRS pushed the filing deadline to Monday, April 18 - since the tax code states that filing deadlines can’t fall on Saturdays, Sundays or holidays.
Still Need More Time?
If you need more time to file your taxes, you can submit Form 4868 for a six-month extension. You can learn more about extensions on the IRS website.
Problems Paying?
But what do you do if you’ve completed your tax returns
The three extra days have been added because of Emancipation Day, which is a little-known Washington, D.C. holiday that celebrates the freeing of slaves in the district. The holiday actually falls on Saturday, April 16 this year, but will officially be observed on Friday, April 15. As a result, the IRS pushed the filing deadline to Monday, April 18 - since the tax code states that filing deadlines can’t fall on Saturdays, Sundays or holidays.
Still Need More Time?
If you need more time to file your taxes, you can submit Form 4868 for a six-month extension. You can learn more about extensions on the IRS website.
Problems Paying?
But what do you do if you’ve completed your tax returns
"Whistle while you work." Snow White.
That’s something more people have been able to do lately, as the labor market continues to steadily improve. Here’s what December’s Jobs Report showed... and what it means for home loan rates.
Tuesday, January 4, 2011
The top 5 hits last week that Traders and Bond investors appeared to be singing... and why.
"Wild thing! You make my heart sing!" - By The Troggs. Traders found themselves singing one minute only to be screaming the next, as Bonds saw huge swings up and down of 100 basis points on multiple days last week.
Remember, home loan rates are based on Mortgage Bond prices, so huge swings in Bonds causes home loan rates to shift as well. This underscores why it’s so important to work with a knowledgeable professional who understands how interconnected the market is and can help homeowners lock in at the most opportune times.
To help make sense of the volatility, here’s a montage of the top 5 hits last week that Traders and Bond investors appeared to be singing... and why.
Remember, home loan rates are based on Mortgage Bond prices, so huge swings in Bonds causes home loan rates to shift as well. This underscores why it’s so important to work with a knowledgeable professional who understands how interconnected the market is and can help homeowners lock in at the most opportune times.
To help make sense of the volatility, here’s a montage of the top 5 hits last week that Traders and Bond investors appeared to be singing... and why.
Monday, December 13, 2010
"Where do we go from here?"
That question from Alicia Keys’ song is on the minds of many Americans, as they wonder where home loan rates are headed after the recent negative news for Bonds.
Last week, Congress was busy at work on negotiations to extend the Bush-era tax cuts. That news kept a lid on any improvement for Bonds and home loan rates, due to the prospect of an ever-increasing deficit.
And adding to the troubles for Bonds and home loan rates last week was news that inflation is growing in China... and growing fast. How does that impact us? Remember, it's a global economy, so Bond prices all over the world worsen on news of inflation, which is bad for home loan rates.
So the big question is: Will home loan rates go back down?
Last week, Congress was busy at work on negotiations to extend the Bush-era tax cuts. That news kept a lid on any improvement for Bonds and home loan rates, due to the prospect of an ever-increasing deficit.
And adding to the troubles for Bonds and home loan rates last week was news that inflation is growing in China... and growing fast. How does that impact us? Remember, it's a global economy, so Bond prices all over the world worsen on news of inflation, which is bad for home loan rates.
So the big question is: Will home loan rates go back down?
Monday, November 29, 2010
Step three in our Home Buyers series ~ Pre-Approval.
Get Pre-Approved For A Loan
Generally, it is recommended that you get pre-qualified for a loan before you start viewing homes with the serious intention of buying. The pre-approval process involves meeting with a lender and authorizing
them to examine your current financial situation and credit history. On the basis of this examination the lender will provide you with a document that details how much you can borrow to buy a home.
The benefits of pre-qualification include:
Generally, it is recommended that you get pre-qualified for a loan before you start viewing homes with the serious intention of buying. The pre-approval process involves meeting with a lender and authorizing
them to examine your current financial situation and credit history. On the basis of this examination the lender will provide you with a document that details how much you can borrow to buy a home.
The benefits of pre-qualification include:
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