Weekly Mortage Update: week of May 14, 2012 - 05/14/12 11:41 AM
Mortgage markets worsened slightly last week as positive U.S. economic news overshadowed growing concerns for the Eurozone's future. Political and economic issues continue to weigh on Greece and Spain, and it's still unknown how France's new President will change that nation's fiscal direction. 
Conforming mortgage rates in Arizona edged higher on the week overall.
Last week was light on economic data, but the figures released suggest an improving U.S. economy.
For example, the Bureau of Labor Statistics reported 3.7 million job openings nationwide this past March, marking the highest amount since July 2008. Voluntary separations (i.e. "quit jobs") increased, too -- … (0 comments)

Scottsdale Arizona Home Prices on the Upswing - 05/04/12 10:46 AM
Home prices started the year on an upswing. 
According to the Federal Home Finance Agency's Home Price Index, home prices rose by a seasonally-adjusted 0.3 percent between January and February 2012. The index is up 0.4% over the past year, offering a counter-story to the Case-Shiller Index's assertion that home values are sinking.
Last week, Standard & Poor's Case-Shiller Index said home values had dropped more than 3 percent in the prior 12 months. 
As a home buyer or seller in Scottsdale , data showing "rising home values" or "falling home values" may be of interest to you, but we can't forget that … (1 comments)

What current mortgage guidelines mean for borrowers - 05/01/12 12:22 PM
Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom.
Last quarter, by a margin of 3-to-2, more banks tightened residential mortgage lending standards for "prime borrowers" than did loosen them.
A "prime borrower" is defined as one with a well-documented credit history, high credit scores, and a low debt-to-income ratio. The insight comes from the Federal Reserve's quarterly survey of its member banks.
Last quarter, of the 54 responding banks :
0 banks tightened mortgage guidelines considerably 3 banks tightened mortgage guidelines somewhat 49 banks left guidelines basically unchanged 2 banks eased mortgage … (0 comments)

 
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John Reising

Scottsdale, AZ

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AmeriFirst Financial, Inc.

Address: 15111 N. Pima Rd., Suite 110, Scottsdale, AZ, 85260

Office Phone: (480) 289-7600

Cell Phone: (480) 221-9721

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