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Mortgage Market Guide Monthly – Views You Can Use

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Mortgage and Lending with America’s Mortgage Solutions | The Christian Penner Mortgage Team NMLS# 368289

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Views You Can Use 2015

Mortgage Market Guide Monthly - Views You Can Use

 
  IN THIS ISSUE...
     
  "Stormy weather ... keeps rainin' all the time." Billie Holiday. Cold fronts and storms through much of the country persisted in slowing the economic recovery, but will we see signs of thaw? Scrape the frost from your screen one last time and get a fresh view of this news and more, including: If you have any questions or would like to discuss your unique situation, please call or email today. And feel free to forward this newsletter to friends, family members and coworkers who may find it helpful!  
 
  Housing's Slippery Slope
     
 
March may roar in like a lion, but March's New Home Sales were more of a whimper as they unexpectedly fell by 11.4 percent. This was in stark contrast to February's figures—which had returned the strongest performance in seven years. Unfortunately, the harsh winter that froze construction activity in January and February may not thaw performance for April's and May's sales figures. On a brighter note, Existing Home Sales in March surged just over 6 percent from February—the largest monthly increase since December 2010. Sales are also up over 10 percent from a year ago. Lawrence Yun, the National Association of REALTORS® chief economist, noted, "After a quiet start to the year, sales activity picked up greatly throughout the country in March." Also of note, Fannie Mae released its April 2015 Economic and Housing Outlook, revealing that economic activity slowed in the first quarter, largely due to West Coast port disruptions and difficult weather patterns gripping much of the Northeast. This was also reflected in the first reading for first quarter 2015 Gross Domestic Product (GDP), which fell to an anemic 0.2 percent. Now that spring has arrived, it will be important to see if economic activity blooms along with the weather. Don't forget that home loan rates continue to remain very attractive, making now a great time to consider a home purchase or refinance. Please let me know if you have any questions!
 
 
  What to Watch: Producer Price Index (PPI)
     
 

Inflation at the wholesale level has the potential to negatively impact Bonds and home loan rates if it begins to rise. Here's a breakdown of what you need to know and watch in the coming months. What is the Producer Price Index report? PPI reports on a group of indexes covering sellers of manufacturing, mining, agriculture and electric utilities. It measures the average change in prices of these goods and services over time. What's happened recently? The Labor Department reported that PPI fell by -0.8 percent from March 2014 to March 2015, due to declining oil and fuel prices. This was in stark contrast to the +2.1 percent recorded year-over-year back in May 2014. What's the bottom line? Inflation is a Bond's worst enemy as it erodes the purchasing power of a Bond's future cash flows. And since home loan rates are tied to Mortgage Bonds, it can cause home loan rates to rise if Bonds worsen. In this case, inflation was weak, which helped to lift prices throughout the Bond markets and keep home loan rates at low levels.

I'll continue to monitor all housing and economic reports closely. If you have any immediate questions, please call or email today.

 
 
  Budget-friendly Summer Vacations
     
 

Summer vacation is right around the corner, making it a great time to start planning. Look no further for low-cost, flexible vacation ideas! Day Tripper? Yeah! If you're on a tight budget or have less time, full and half-day trips make for great getaways. Shorter excursions are also easier if you have very young children. Beaches, parks and light hiking trails are only a few examples of inexpensive half-day getaways.

Try planning out your summer on TripAdvisor, or contact the Chamber of Commerce of your chosen destination to discover more activities. The Long, Long Weekend. The cost of weekend trips can vary dramatically, so this vacation benefits people who place a premium on time. To help compare costs of flying versus driving, you can use Google Maps to plot the driving distance and estimate the cost for gas and meals on the road. Then check the cost of plane tickets and a rental car. If you do decide to drive to your destination, use GasBuddy or a similar smartphone app to save on fuel. Also, remember that travel is seasonal so if you head to an opposite destination than the crowds, you could save big. Talk to the Pros. Travel agencies are worth a look because they offer all-inclusive deals, and can save you both time and legwork in planning all the details. You can also cut costs on extended vacations by organizing a group vacation—the bigger the group you bring to a travel agent, the better deal you will get. If you want to do it yourself, a travel-planning app like Tripit is a great way to keep track of all the details.

Whatever kind of vacation you choose, planning ahead ensures that you can relax and unwind once you arrive at your destination—and that is priceless!

 
 
  Q&A: Get Next Year's IRS Refund This Year
     
 

QUESTION: Do I have to wait an entire year to get my tax refund?

ANSWER: According to the IRS, the average tax refund in 2014 was $3,116, and it's expected to rise to $3,295 in 2015. That means millions of people over-withhold more than $270 dollars from their paycheck every month. So if you received a refund this year—and you expect your financial situation and income to remain about the same—here is how you can receive the cash now, rather than a refund later. Have your most recent paystub handy, then visit the IRS Withholding Calculator and follow the simple step-by-step instructions. The result will tell you how many Federal withholdings you need in order to balance your refund. Take that result to your payroll department at work and update your W-4 form accordingly. Even though you won't get a lump sum refund next year, you will get more cash out of your hard-earned paycheck, leaving more for your monthly budget and savings!

 

 

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Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: Cell/Text: (561) 373-0987

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