Economy
The Federal Reserve announced that it would continue its accommodative monetary policy as long as inflation is in check and the unemployment rate is above 6.5%. What this means for the housing market is that mortgage rates will remain extremely low through 2013. The President of Minneapolis Fed believes that the target for the unemployment rate should be further down to 5.5%.... Read more.
Property Market
CoreLogic Market Pulse report highlights increased home prices and reduced delinquencies through 2012 with a prediction that the housing market is poised for a recovery in 2013. The company’s Home Price Index representing nationwide prices in November 2012 increased by 7.4% on a year-over-year basis which is the biggest increase since May 2006. There is further positive news from the research firm: More than 1.3 million borrowers moved into positive equity through the second quarter of 2012. Home Sales at $0-100,000 and $200,000+ show improvement with a steady rate for the properties in $100,000-200,000 range.... Read more.
Interest Rate
Freddie Mac weekly fixed averages for 30 years and 15 years remain steady at 3.38% and 2.66%.
There is the right timing for any investment to reap maximum benefits, and all economic measures indicate that it is ‘now’ for real estate investment.... Read more.
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