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coto de caza: What's Ahead For Mortgage Rates This Week : December 7, 2009 - 12/07/09 11:42 AM
Mortgage markets finally reversed course last week, selling off with fury and causing prices to plummet.
When bonds prices fall, rates rise.
The action broke a multi-week winning streak, much to the disappointment of rate shoppers everywhere. Rate hikes came in stages.
First, early in the week, mortgage bonds fell out of favor as traders booked profits ahead of the November jobs report and as concerns over a Dubai Default waned.
Then, on Friday, when the jobs report was ultimately released, it showed a net loss of just 11,000 jobs in November and dip in the Unemployment Rate to 10.0 percent.
… (0 comments)
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coto de caza: Falling Unemployment Rate Leads To Higher Mortgage Rates Today - 12/04/09 09:40 AM
This morning's jobs report is causing mortgage rates to rise, capping a week during which rates have already jumped 3/8 percent off all-time lows.
The government's November Non-Farm Payrolls report reinforced the notion that the recession is nearly over, if not over already.
Just 11,000 jobs were lost last month -- much fewer than analysts had expected -- as the Unemployment Rate fell to 10.0%.
If it seems strange to be talking economic recovery while Americans are still losing jobs -- 7.2 million since 2008 -- remember that data always needs context.
See, analysts view employment figures as a lagging indicator for the economy. This is because business owners … (1 comments)
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coto de caza: Pending Home Sales Data Forecasts Higher Home Values Next Month - 12/02/09 03:03 PM
When a home seller accepts a contract on an MLS-listed property, the property's status changes from "Active" to "Pending".
This means the home is scheduled to sell, but not yet sold.
Each month, the National Association of Realtors® tallies the number of pending homes and publishes the data as the Pending Homes Sales Index report.
In October, for the 9th straight month, the index gained. It's the longest such streak in Pending Home Sales history.
Because a "pending" home sale is just a contract between buyer and seller, it's not as important to the economy as actual home sales. However, the Pending Home Sales Index can … (0 comments)
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coto de caza: Higher Home Prices Ahead, Says The Pending Home Sales Index - 11/02/09 05:36 PM
The housing market continues to steam forward.
As reported by the National Association of Realtors®, the Pending Home Sales Index posted its 8th consecutive monthly gain in September.
It's the longest winning streak in the history of the index and Pending Home Sales are now at their highest levels since December 2006.
A Pending Home Sale is a home under contract to sell, but not yet closed. It's the precursor to an Existing Home Sale.
Trade group data shows that nearly 80 percent of "pending" homes close within 2 months. The majority of those remaining close within months 3 and 4.
When … (1 comments)
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coto de caza: Claim yourself on Technorati! - 07/08/09 12:08 PM
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Register, then follow the intructions. You should find this helpful. Good luck with it!
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… (0 comments)
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coto de caza: With The Year Half-Over, How Accurately Did Economists Predict 2009? - 06/30/09 09:56 AM
At the start of the year, the "experts" made a lot of predictions about the U.S. economy and what to expect in 2009.
Some said housing would riseSome said housing would fallSome said mortgage rates would riseSome said mortgage rates would fallAnd nobody predicted just how big the government's stimulus package would be.
Now, on June 30, with the year officially half-over, it's as good a time as any to remember that people are much better at interpreting the past than predicting the future. Economists can make educated guesses about the future, but they're guesses nonetheless.
It's like watching the Weather Channel. … (0 comments)
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coto de caza: In Another Good Sign For The Housing Market, Builders Are Clearing Out Their Inventory - 06/26/09 11:15 AM
If you only saw the headlines this week, you may have missed another positive sign in the housing market.
According to the Census Bureau, the supply of newly-built homes for sale fell to 10.2 months in May, its lowest level in 10 months.
Unfortunately, the New Homes Sales story wasn't positioned as a positively by the press. Instead, the most common headline on the data read "New Home Sales Dip 0.6%" with many journalists referring to the figures as "weak" or "disappointing".
Only, that's not completely true.
See, one of the nice elements of the monthly New Home Sales report is … (0 comments)
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coto de caza: A Simple Explanation Of The Federal Reserve Statement (June 24, 2009 Edition) - 06/25/09 12:46 AM
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent.
The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion.
In its press release, the FOMC noted that the U.S. economy is not slowing with the same speed versus just two months ago and that financial markets, in general, are improving.
These are two signs that the country may be emerging from recession, if it hasn't already.
The news isn't all good, however. The Fed made a point to highlight the potential hazards the … (0 comments)
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coto de caza: 3 More Signs Of A Strengthening Housing Market - 06/24/09 10:19 AM
The housing market got another dose of good news yesterday.
According to the National Association of REALTORS, the number of homes sold in May increased for the third straight month and the national housing supply fell by 5 months.
Furthermore, first-time home buyers are accounting for nearly one-third of the market activity.
But, before we declare a bottom in housing, it's important that we remember the First Rule of Real Estate:
All Real Estate Is Local
National housing statistics like Existing Home Sales are painted with a very broad brush. They lump disparate locales such as San Francisco and Seattle into one sample set and … (0 comments)
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coto de caza: The Number Of Homes Under Contract Soar In April. Are Buyers Losing Their Negotiation Leverage? - 06/03/09 04:39 PM
The number of homes under contract to sell soared in April, climbing nearly 7 percent nationwide versus a month ago.
It's the third straight month in which the Pending Home Sales Index gained and the biggest monthly jump since October 2001, the month prior to the end of the Early 2000s Recession.
A "pending" home sale is one that's under contract to close, but has yet to do so.
The Pending Home Sales Index is an imperfect statistic because not every home under contract makes it to closing, but the data can a reliable indicator of home buyer activity.
It's not tough … (0 comments)
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coto de caza: On A Monthly Basis, Home Values Look Better Than Press-Reported Annual Figures - 05/27/09 11:43 AM
Each month, researchers measure home values in 20 large U.S. cities, then compile their findings in a report called the Case-Shiller Index. It's a popular measurement of housing health across the country, but it's far from perfect.
As 3 examples:
It gives more weight to expensive homes than inexpensive ones Its sample set includes just 37 states of 50 states Real estate isn't a "national" market -- it's local All that said, however, the data is still important. The Case-Shiller Index helps identify broader trends in housing and it's widely believed that the economy won't recover until the sector starts … (0 comments)
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coto de caza: How The "Fed Minutes" Can Change Mortgage Rates And Home Affordability - 05/21/09 03:03 PM
Mortgage rates fell after the Federal Reserve released its April 28-29, 2009 meeting's internal notes Wednesday.
Officially known as "Fed Minutes", the report is an in-depth account Federal Reserve's last get-together, detailing the discussions and decisions that create our country's monetary policy.
It's the lengthy companion to the Federal Reserve's brief, post-meeting press release.
For comparison's sake, the Federal Reserve's April 29 announcement contained 383 words. The minutes of that same meeting held 5,754 words. The extra words offer extra details about what the next monetary steps might be for the nation's policymakers.
This is a big deal to markets because … (0 comments)
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coto de caza: Housing Starts Are No Longer Falling, Another Positive Signal In Housing - 05/20/09 12:24 PM
A "housing start" is a new home on which construction has started and, for the fourth straight month, single-family home construction remained flat in April.
For the battered housing market, this is the latest in a series of signals that a long-awaited turnaround is coming.
The number of homes under contract to sell are rising The national housing inventory is down by nearly 1 million from March 2009 Home values are rising, according to a government report The current plateau in Housing Starts may indicate that builders are more confident in the economy, and that Americans are, too. Especially in light of … (0 comments)
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coto de caza: Mortgage Guidelines Show Signals Of A Thaw - 05/15/09 10:26 AM
Getting approved for a home loan isn't getting easier, but it doesn't appear to be getting much more difficult, either.
In its quarterly survey to member banks, the Federal Reserve asked senior bank loan officers whether "prime" residential mortgage guidelines had tightened in the last 3 months.
Nearly 50 percent of banks said guidelines tightened last quarter, a much lower figure than during all of 2008 and a signal that mortgage lending may be turning a corner.
Guidelines remain restrictive, however.
Versus 18 months ago, lenders subject would-be borrowers to all of the following:
Higher minimum credit score thresholds Larger minimum … (0 comments)
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coto de caza: For The Second Month In A Row, Foreclosures Are Concentrated In 3 States - 05/13/09 09:15 AM
For the second month in a row, the country's foreclosure activity was dominated by a small number of states.
As shown by the latest stats from RealtyTrac.com, more than half of the country's foreclosure actions from April were concentrated in just 3 states:
California Florida Nevada Those 3 states are home to but 19 percent of the U.S. population.
No matter in which state you live, however, it's important to understand the far-reaching ramifications of foreclosures.
Although real estate is local, mortgage lending is not. Fannie Mae and Freddie Mac insure loans in all 50 states and when those mortgages go into default, the government entities often take losses. … (0 comments)
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coto de caza: Pending Home Sales Rise In March -- Another Sign That Housing Is Recovering - 05/05/09 12:49 PM
For the second consecutive month, the number of homes under contract to sell increased -- further evidence that housing markets may have already bottomed.
As reported by an industry trade association, the Pending Home Sales Index rose by 3-plus percent last month.
A "pending" home is one that's under contract but has yet to close. This is one reason why the Pending Home Sales Index is an imperfect statistic.
Just because a home is under contract doesn't mean it will actually sell. A lot can go wrong between the date of agreement and the date of closing. Deals fall apart all the time. But, … (0 comments)
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coto de caza: Ceiling Fan Settings : Clockwise In Winter, Counter-Clockwise In Summer - 05/04/09 10:44 AM
With the start of May comes warmer temperates. But just because the mercury's rising doesn't mean your energy bills have to.
This quick Weather Channel video shows how a ceiling fan can cool a 78-degree room by up to 6 degrees and reduce the costs of running an HVAC unit. The key is to have the fan's blades rotating in the right direction.
When the heating system is on, blades should rotate clockwise When the air conditioning is on, blades should rotate counter-clockwise By changing a ceiling fan's blade rotation, a homeowner can push heat back into circulation to warm a … (0 comments)
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coto de caza: The Decline In Home Values Slowed In February, Says Case-Shiller. Probably in March and April, Too. - 05/01/09 10:08 AM
The Case-Shiller Index is a popular reporting tool for the nation's home prices. Each month, researchers measure home values in 20 large cities, compile their findings, and then publish them to the public.
The Case-Shiller Index is not a perfect measurement by any means. It gives more weight to expensive homes than inexpensive ones, for example, and its sample set includes just 37 states. But that doesn't diminish its importance to the housing sector.
Because the Case-Shiller Index comes from the private sector, it's an excellent counter for the U.S. government's home value reporting tool -- the House Price Index.
In this … (0 comments)
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coto de caza: Explaining What The Federal Reserve Did In Plain English (April 29 2009 Edition) - 04/29/09 08:28 PM
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent. The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion.
In its press release, the FOMC noted that the economy may still be contracting, but that it's not happening with the same speed as in prior months. Household spending is stabilizing and financial markets are "easing".
Nevertheless, threats to the recovery are everywhere with the following items on the Fed's short list:
The growing ranks of unemployed workers The reduction of housing wealth … (0 comments)
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coto de caza: What The Federal Reserve's Meeting Today May Mean For Mortgage Rates - 04/29/09 09:24 AM
The Federal Reserve adjourns from its two-day meeting this afternoon. It's one of 8 scheduled meetings each year for the Federal Open Market Committee.
Like all FOMC get-togethers, the purpose of the meeting is to discuss financial and economic conditions in the U.S., and to make new policy to stimulate or retard economic growth, when necessary.
The Federal Reserve's main tool for reaching this goal is the Fed Funds Rate.
When the Fed lowers the Fed Funds Rate, growth is stimulated. When the Fed raises it, growth is slowed. The Fed has other tools at its disposal, of course, but the Fed Funds Rate is … (0 comments)
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Bob Phillips, CDPE, SFR South Orange Co., CA
Coto de Caza,
CA
More about me…
Realty ONE Group
Address: 25910 Acero, #100, Mission Viejo, CA, 92691
Office Phone: (949) 643-2100
Cell Phone: (949) 887-5305
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