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Banks Resume Tightening Mortgage Guidelines - 11/11/11 04:58 PM
With Halloween behind us, retailers are in the Holiday Spirit. Businesses know that consumers spent a median $556 on holiday gifts last year and they want this year to be just as strong.
That's why it's barely November and, already, Black Friday ads clog our mailboxes and the airwaves. Retailers want our dollars and they're offering great deals to early shoppers.
There's one discount a smart shopper should think twice, however -- the ever-present "Open A Charge Card Today And Save 15%" promotion. In the short-term, deals like this will save money.
Over the long-term, however, opening a charge card could cost … (1 comments)
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What's Ahead For Mortgage Rates This Week : November 7, 2011 - 11/07/11 01:31 PM
Mortgage markets improved last week as optimism for a Greek Bailout program faded, triggering a global flight-to-quality assets. Fear of a Eurozone rift outweighed positive economic remarks from the Federal Open Market Committee and an in-line U.S. jobs report.
Although the Federal Reserve said the economy had "strengthened somewhat", a statement backed up by Friday's Non-Farm Payrolls data which -- with revisions -- met analyst expectations, concern that Greece may not receive its aid caused mortgage to fall.
Conforming mortgage rates dropped Monday and Tuesday, pushing rates to near their lowest levels of the year. Rates remained low through Friday.
According to … (0 comments)
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The Most Expensive ZIP Codes In The Country (2011 Edition) - 11/04/11 03:01 PM
In the housing market, amenities and location have as much to do with a home's value as the everyday forces of supply-and-demand. Whereas the latter causes home values to rise and fall over time, the former creates a starting point for said values.
Where you live -- and the features of your home -- determine your home's price range. Naturally, homes in some areas are consistently higher-valued than homes in others.
Using data compiled by real estate market data firm Altos Research, Forbes Magazine presents America's 10 most expensive ZIP codes. California and the New York Metro area dominate the list.
Alpine, NJ … (0 comments)
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Financing Smart Home Improvements - 11/04/11 02:53 PM
You've found a great home, but it's a bit rough around the edges and you're on a limited budget. That leads to a number of questions: How much will the necessary upgrades and repairs cost? How much value will they add to the home? How are you going to pay for all this? Whether you are upgrading to a larger home in a neighborhood you've always loved, downsizing to a smaller home now that the kids are out of the house or even moving to a new state, don't let a house that you love get away just because it needs … (0 comments)
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A Simple Explanation Of The Federal Reserve Statement (November 2, 2011 Edition) - 11/02/11 02:29 PM
Wednesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.
The vote was nearly unanimous, with just one dissenting voter. There were 3 dissenters at each of the FOMC's last two meetings.
In its press release, the Federal Reserve presented an improved outlook for the U.S. economy, noting that since its last meeting in September, there's new evidence that the economy "strengthened somewhat" in the third quarter.
One example cited is that consumer and business spending continues to rise while inflationary pressures on the economy remain modest. This indicates … (0 comments)
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More Risk To Home Affordability : Friday's Jobs Report - 11/02/11 02:24 PM
Within the next 48 hours, mortgage rates may get bouncy. The Federal Open Market Committee will adjourn from a 2-day meeting and October's Non-Farm Payrolls report is due for release.
Of the two market movers, it's the Non-Farm Payrolls report that may cause the most damage. Rate shoppers would do well to pay attention.
Published monthly, the "jobs report" provides sector-by-sector employment data from the month prior. It's a product of the Bureau of Labor Statistics and includes the national Unemployment Rate.
In September, the economy added 103,000 jobs, and job creation from the two months prior was shown to be … (0 comments)
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Make Your Mortgage Rate Strategy : The Federal Reserve Starts A 2-Day Meeting - 11/01/11 02:07 PM
The Federal Open Market Committee begins a scheduled, 2-day meeting today, the seventh of its 8 scheduled meetings this year, and the eighth Fed meeting overall.
The FOMC is a 12-person sub-committee within the Federal Reserve. It's the group responsible for setting the nation's monetary policy and is led by Federal Reserve Chairman Ben Bernanke.
The FOMC's most well-known role is as the steward of the Fed Funds Rate. This is the overnight rate at which U.S. banks borrow money from each other. The Fed Funds Rate is a unique, "banking" interest rate, and should not be confused with consumer interest rates, a category which … (0 comments)
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Michael Haigh
Burlingame,
CA
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W J Bradley / The Michael Haigh Team
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