Here is a copy of John Schutze's weekly newsletter, be sure to check out the rates!

This morning...according to the government, 95,000 jobs were lost in September. Economists expected a net loss of only 5,000.  The silver lining is that private sector jobs grew by 64,000, but with huge government layoffs (mostly local govt's) the net number was 95,000 total lost. This is a positive for the private-sector, but still trailed expectations.

 More good news for rates...this week, lots of news chatter was focused on the possibility that the Fed might dump more money into the economy. It's being referred to as QE-2 (Quantitative Easing - Round 2.) The gov't wouldn't likely purchase mortgage bonds like the previous program. It's more likely they will purchase Treasury Bonds, however this action would help keep mortgage rates at their current lows or push them lower. I'll keep you posted!

Have a great weekend!

Current rates:

30 Year Fixed:                                3.875   % WOW!!!

15 Year Fixed:                        3.5       %

USDA 30 Year:                        4.5       % 

FHA 30 Year                            4.0       %

FHA 5/1 ARM                          3.25     %      

VA 30 Year:                             4.25     %

5 Yr ARM                                 3.0       %

Jumbo 30 Year Fixed:            5.125   %

Jumbo 5 Yr ARM:                    4.25     %

30 Year Home Equity:            4.125   %

TDHCA Bond 77 (5% DPA)             5.4       %  (TDHCA Website)

TSAHC (3% DPA)                                5.25     %  (TSAHC Website)

Your rate could be higher! It depends your credit score, cash on hand, income and other factors, contact a lender to find out what your rate will be.

Rates Courtesy of John Schutze

...Too bad that a lot of potential buyers don't care!

30 Year Fixed:                        4.125   %

15 Year Fixed:                        3.75     %

USDA 30 Year: (It's BACK!)      4.75     % 

FHA 30 Year                            4.25     %

FHA 5/1 ARM                          3.5       %      

VA 30 Year:                             4.375   %

5 Yr ARM                                 3.25     %

Jumbo 30 Year Fixed:            5.25     %

Jumbo 3 Yr ARM:                    3.75     %

30 Year Home Equity:            4.375   %

TDHCA Bond 77 (5% DPA)             5.5       %  (TDHCA Website)

TSAHC (3% DPA)                                5.25     %  (TSAHC Website)

Your rate could be higher! It depends your credit score, cash on hand, income and other factors, contact a lender to find out what your rate will be.

Rates Courtesy of John Schutze

  Here's a fun website that can help you find out. What you do is you give your opinion of several different pictures of rooms that all have different design styles, at the end the site will tell you what your style is.

Sproost says my interior design style is:

50% Rustic Revival
25% Nantucket Style
25% Wine Country Style

Click here: http://sproost.com/

That is if the Senate OKs it. I'm getting a headache!

Click here for the story: http://www.inman.com/news/2010/06/29/house-oks-extension-tax-credit-closing-deadline

That's two loan officers who have recently given information that was not 100% accurate, or have not followed up when the news changed. Loan officers, you don't look bad when you have to go back on what you previously said, instead you look like someone who puts the needs of others ahead of your desire to look like the expert.

Good luck everyone!

Although a local loan officer send me an email assuring me that it had been passed, (now I remeber why I stopped using her), it did not pass, it was attached to another bill which was killed, so your buyers still have close by tomorrow.

I hope everything works out for everyone!

30 Year Fixed:                        4.375   %

15 Year Fixed:                        3.75     %

FHA 30 Year                            4.5       %

FHA 5/1 ARM                          3.75     %      

VA 30 Year:                           4.625   %

5 Yr ARM                               3.375   %

Jumbo 30 Year Fixed:            5.5       %

Jumbo 5 Yr ARM:                    4.625   %

30 Year Home Equity:            4.625   %

TDHCA Bond 77 (5% DPA)       5.74     %  (TDHCA Website)

TSAHC (3% DPA)                    5.25     %  (TSAHC Website)

USDA 30 Year:                        Pending New Funds

Your rate could be higher! It depends your credit score, cash on hand, income and other factors, contact a lender to find out what your rate will be.

Rates Courtesy of John Schutze

  Kyle, TX has really grown over the past year. With the opening on the Seton Hospital came a new Lowes, Walgreens, and an AT&T Store with more to come. Across I35 is a new Kohls and a Target, plus other shops, making the intersection of FM 1626 and I35 THE place to do your shopping in Kyle, H.E.B. Plus has been there for several years already but the addtions of the other stores really heated things up.

  Some changes to how the lanes are set up has made getting around a lot easier, the access road in between 1626 and 967 is now a one way with two northbound lanes, so that pile up at Bebee is not as bad, plus there are two left turn lanes southbound on the I35 access at FM 1626, so you don't have to plan on waiting for two traffic light cycles before you can make your turn.

I have noticed that there are not as many foreclosures and short sales on the market in Kyle at the moment, this most likely is because of the recent increase in buyers due to the tax credit, prices are still low so it's still time buy in the Kyle area, Plum Creek prices have increased so hurry up before you can't qualify. I suspect that another influx of foreclosures is on the way so potential home sellers in that area should not try to list their properties for more money at this time, plus with all of those recent sales of foreclosures, your properties won't appraise for more than the recent average anyway.

After all of this growth it still relatively easy to park in the downtown area, especially if you want a piece of Key Lime Pie from The Texas Pie Company.

Here is a list of home builders that are still building in Kyle:

Meritage Homes (Plum Creek)

DR Horton (Brookside, Four Seasons Farm, Kensington Trails)

KB Home (Plum Creek, Waterleaf)

Mainstreet Homes (Post Oak)

Harvest Homes (Woodlands Park)

The Austin Chamber of Commerce just posted Austin's ranking, Check out the story below:

Friday’s release of May 2010 payroll jobs numbers by the Texas Workforce Commission and U.S. Bureau of Labor Statistics saw Austin improve on the return to year-over-year job growth begun in April. Three other large metros also have positive growth in May, but Austin’s was the greatest rate of increase.

Click here for rest of the story...

Courtesy of the Austin Chamber of Commerce.