David's Blog

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Mortgage and Lending - Bay Equity - Bay Equity NMLS #76988
My blog will try to provide you insights into mortgage lending, my prospectives into the real estate market and general information. I provide this based upon my 39+ years in the real estate, building and now for the past 23 years the mortgage industry.

ARCHIVED BLOG POSTS

2010 

Home builder confidence held firm this month, according to the National Association of Home Builders' monthly Housing Market Index. September's reading of 13 equaled a 17-month low. The HMI is on a 1-100 scale. A value of 50 or better indicates "favorable conditions" for home builders. Broken do...
09/30/2010
For the 17th straight month, the Case-Shiller Index reports that home values are rising across the United States. As compared to June, July's prices were up by 4 percent. However, despite the improvement, July's Case-Shiller Index showed weaker as compared to prior months. In June, just 3 cities...
09/30/2010
Existing Home Sales rebounded last month after a lackluster July. New Home Sales data, by contrast, did not. After an upward revision to July's data, New Home Sales remained unchanged at 288,000 units in August. It marks the second-lowest number of units sold in a month since 1963, the year gover...
09/30/2010
Mortgage markets improved last week as markets digested a bevy of data from the housing sector, plus the scheduled Federal Open Market Committee meeting.  In back-and-forth trading, conforming mortgage rates in Minnesota bottomed out Wednesday before rising through Friday's afternoon close. Rates...
09/30/2010
Sales of existing homes in recovered in August, perhaps the result of a post-tax credit normalization. As compared to July, Existing Home Sales rose 8 percent in August, buoyed by falling interest rates and slow-to-rise home prices. There's lot of "good deals" out there and home buyers in Minneap...
09/28/2010
The number of single-family Housing Starts rebounded in August, climbing 4 percent from July's 14-month low. A "Housing Start" is defined as a home on which construction has started and the August increase represents 18,000 single-family units nationwide. If you only read the headlines, however, ...
09/23/2010
Today, in its 7th meeting of the year, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged.  The Fed Funds Rate remains at a historical low, within a Fed's target range of 0.000-0.250 percent. In its press release, the FOMC said that the pace of economic recovery ...
09/21/2010
The Federal Open Market Committee adjourns from its 6th scheduled meeting of the year today, and 7th overall. Upon adjournment, Federal Reserve Chairman Ben Bernanke will release a formal statement to the market. In it, the Fed is expected to announce "no change" to the Fed Funds Rate. Currently,...
09/21/2010
Mortgage markets were highly volatile, yet relatively unchanged last week in back-and-forth trading on Wall Street. Global investors are grappling with the state of U.S. economy and unable to discern whether it's growing, or slowing. As an real-world illustration, the government's August Retail S...
09/21/2010
Visit msnbc.com for breaking news, world news, and news about the economy Is it better to rent a Minneapolis home, or to buy one? The answer may not be as clear-cut as you think. In this balanced, 3-minute joint interview from NBC's The Today Show, you'll hear the case for both sides. From the pr...
09/21/2010
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