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real estate holly springs: Commodities Market and Rates - 04/18/08 03:36 PM
I'm Still on the prowl for lower mortgage interest rates... If you've read this blog before, you know that I think George Soros is one of the smartest guys in the room.  Goerge was back in the news today helping me understand what happened to rates this week!
According to Bloomburg, "Billionaire George Soros said the boom in commodities is still in a "growth phase'' after prices for oil, wheat and gold rose to records.
"You have a generalized commodity bubble due to commodities having become an asset class that institutions use to an increasing extent,'' Soros said today at an … (5 comments)

real estate holly springs: History is Being Made in Mortgage Lending - 03/06/08 12:23 PM
If you are interested in purchasing a home - you want to know what rates are doing - and what you should watch, right?  Well, for the last 20 years I've been telling people it's pretty easy to figure out what's going with rates, because we are in a cyclical business that THRIVES on bad news in the Economy.  I tell folks, "it's like a hospital - business is good - everybody's sick.  Look for bad news in the economy to drive rates lower."  (because very few of my clients are looking for a HIGHER interest rate).
So let's test that … (6 comments)

real estate holly springs: Why I think Rates Will Go UP! - 01/11/08 04:40 PM
So the Fed announced that they are thinkin' about maybe lowerin' their rate at the end of the month. That's nice.
Here's My Concern With It...  They are lowering rates because the housing market is still tanking in many areas of the country (not mine thank goodness!) and that means fewer taxes collected... it's a BIG DEAL, don't get me wrong.
But just because the Fed lowers by .75%... Do not get sucked into believing that mortgage interest rates will go below 5.5%! How soon we forget! FANNIE AND FREDDIE are starting to add their "special fees" to borrowers with less than 680 credit score!  … (8 comments)

real estate holly springs: The Day Before the Labor Report! Yippee! - 01/03/08 10:58 AM
For over 15 years, I've considered the First Friday of every month a special day... Labor Report Day! (I even went to Washington and WATCHED THEM deliver the numbers one time!  It's sad - I have no life.)
ANYWAY - so now the THURSDAY BEFORE THE First Friday is a BIG DAY!!  The ADP Employment Report for December showed that the private sector created 40,000 new jobs.  This is down significantly from November's revised number of 173,000 jobs.  Even after factoring in approximately 25,000 new government jobs created, the ADP Report signals that tomorrow's Jobs Report could come in at 65,000.  This is essentially in line with leading economist … (4 comments)

 
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Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

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