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nh home buying mortgage manchester: NH Home Buyers and Sellers - What's Ahead This Week - 02/08/10 01:23 PM
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates in NH improved for the 4th consecutive week.
Mortgage rates are now at a 6-week low but probably shouldn't be. It underscores just how important global events can be to U.S. mortgage markets.
For example, corporate earnings continue to improve and key elements of the economy are strengthening. Even the Federal Reserve acknowledges this. In most circumstances, that would be a boon for the stock markets and bond markets would … (0 comments)
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nh home buying mortgage manchester: NH Home Buyers and Sellers - Pending Home Sales Predicts A Stronger Spring Market - 02/03/10 08:10 AM
The Pending Home Sales Index rose slightly in December, climbing 1 percent from November. A Pending Home Sale is a home that is under contract to sell, but not yet sold. It's a figure compiled by the National Association of Realtors® using sales data from over 100 regional listing services and more than 60 large brokerages around the country. Because each pending sale is a true measure of sales activity, the Pending Home Sales Index is purported to be the most reliable forward-looking indicator for housing. Recent data supports this hypothesis. After Pending Home Sales plunged 16 percent in November, Existing … (0 comments)
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nh home buying mortgage manchester: NH Loan Info - What's Ahead This Week - 02/01/10 08:04 AM
In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week's data and domestic story lines, it's surprising that rates actually fell.
The Federal Reserve said the economy continues to strengthen Consumer Confidence pushed to a 2-year high 4th Quarter domestic output exceeded Wall Street's expectations Usually, events like these draw money away from the bond markets and into the stock markets and Wall Street preps for better corporate earnings. The movement pressures mortgage rates to rise. Last week, however, different stories trumped the headlines including a report from Standard & Poor's that said … (0 comments)
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nh home buying mortgage manchester: NH mortgage shoppers: The Fed Announcement's Out! - 01/27/10 03:00 PM
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The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy “has continued to strengthen”, that the jobs markets is getting better, and that financial markets are supportive of growth.
There was no mention of the housing market's strength. The last 3 statements from the Fed included that specific verbiage.
It’s the fifth straight statement in which the Fed spoke … (2 comments)
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nh home buying mortgage manchester: Looking Back And Looking Ahead : May 27, 2008 - 05/27/08 02:25 PM
The market optimism that had pushed mortgage rates lower since late-March reversed last week on ever-rising oil prices and a bleak outlook from the Federal Reserve.
When gas prices reached $3.93 Friday, it re-ignited inflation concerns and inflation, you'll remember, is the enemy of mortgage rates.
As expected, mortgage rates spiked into Friday's market close.
Markets were closed for Memorial Day but re-open this morning with traders feeling apprehensive about mortgage market investments. There are many reasons to park money elsewhere, after all.
The U.S. dollar is trolling near all-time lows against the Euro Oil markets are returning incredibly high rates … (0 comments)
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nh home buying mortgage manchester: The Counties In Which Home Prices Are Rising - 05/15/08 09:15 AM
When real estate news is reported on television or in the papers, it's usually told as a national story. Unfortunately, stories like these aren't helpful for everyday Americans because real estate is not a national market.
Real estate is local.
The graph above was used by Fed Chairman Ben Bernanke in a speech to Columbia Business School earlier this week. Using data from conforming mortgage fundings, it shows the change in home prices from year-to-year on a county level.
Any county not in red increased in value.
In other words, contrary to what reporters tell us, real estate is retaining … (0 comments)
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Kevin Wallace
Manchester,
NH
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Merrimack Mortgage Company
Address: 406 Riverway Place, Bedford Commons, Bedford, NH, 03110
Office Phone: (603) 668-8197
Cell Phone: (603) 475-4512
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