Distressed Homes Now Selling At A 20 Percent Discount - 05/20/11 01:35 PM
Distressed Homes Now Selling At A 20 Percent Discount
 
The housing market recovery stalled last month. At least temporarily.
According to the National Association of REALTORS®, Existing Home Sales slipped 1 percent in April from the month prior, falling to 5.05 million units on a seasonally-adjusted, annualized basis. The reading is exactly in-line with report's 6-month average which also reads 5.05 million units.
The data may appear "average", but there's another angle to consider. 
In April, as compared to March, the supply of existing homes for sales spiked. At the current pace of home sales, it would now take 9.2 months … (0 comments)

Building Permits Fade Faster Than Expected - 05/18/11 01:33 PM
Building Permits Fade Faster Than Expected
 
Single-family housing starts dropped by 21,000 units in April on a seasonally-adjusted annual basis.
The Housing Starts report measures the number of homes on which new construction "broke ground". It's tracked by the U.S. Department of Commerce which releases new data monthly.
Single-family housing starts fell 5 percent as compared to March 2011, and 30 percent as compared to April one year ago. 
The figures were worse than what Wall Street expected. For just the second time in 2 years, monthly single-family housing starts dropped below 400,000 units. In addition, single-family Building Permits fell in April … (1 comments)

Rising Retail Sales Threaten Low Mortgage Rates - 05/16/11 02:32 PM
Rising Retail Sales Threaten Low Mortgage Rates
 
Another day, another piece of evidence that the U.S. economy is expanding.
Thursday, the Census Bureau released the April Retail Sales report. Excluding cars and auto parts, retail receipts rose for the 10th straight month and, at $321 billion, reached an all-time high.
Retail sales account for roughly half of consumer spending, and roughly one-third of the economy overall.
For home buyers and rate shoppers in Hobe Sound , the sales figures have positive and negative implications.
On the positive side, more retail sales suggests more confidence in the U.S. economy. This can spark … (0 comments)

Conforming ARMs From 2004-2006 Are Adjusting To 3 Percent - 05/11/11 12:27 PM
Conforming ARMs From 2004-2006 Are Adjusting To 3 Percent
 

When a mortgage applicants chooses an adjustable-rate mortgage over a fixed-rate one, he accepts a risk that - at some point in the future - the mortgage's interest rate will rise. Lately, though, that hasn't been the outcome.
Since mid-2010, conforming mortgages have adjusted below their initial "teaser" rate consistently, giving homeowners in Florida and nationwide reason to ride their respective adjustable-rate mortgages out.
For example, this month, conforming 7-year and 5-year ARMs are adjusting near 3.011 percent based on the most common loan terms of 2004-2006. It's because of … (0 comments)

Geopolitics Have Mortgage Rates Poised To Change - 05/04/11 11:08 AM
Geopolitics Have Mortgage Rates Poised To Change
 
Among the most challenging aspects of shopping for a mortgage is how rates change constantly. It's hard to pin them down.
For example, in 2011, mortgage rates have expired every 3-and-a-half hours, on average. That's fast.
There's two main catalysts for changing mortgage rates.
The first can be grouped as "scheduled events"; the planned release of market data which includes the Existing Home Sales report, or a scheduled government statement such as when the Federal Open Market Committee meets. When the outcomes of these event-types either exceed, or fall short, of Wall Street's expectations, mortgage … (1 comments)

 
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Carl Rizzuto

Hobe Sound, FL

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Keller Williams Realty

Address: 4455 Millitary Trail Suite 100, Jupiter, FL, 33458

Office Phone: (561) 296-8420

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