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

2012 

The market for newly-built homes remains strong. As reported by the U.S. Department of Commerce, 372,000 new homes were sold in July on a seasonally-adjusted, annualized basis. A "new home" is a home that can be considered new construction. July's New Home Sales report highlights what today's buy...
08/29/2012
Home resales climbed 2% last month as the housing market continues its measured, steady recovery. According to the National Association of REALTORS®, Existing Home Sales rose to 4.47 million units in July on a seasonally-adjusted, annualized basis. An "existing home" is a home that cannot be clas...
08/23/2012
The market for newly-built homes remains strong. As reported by the U.S. Census Bureau, July featured 502,000 single-family housing starts nationwide on a seasonally-adjusted, annualized basis, marking the fourth straight month during which single-family starts posted north of one-half million. T...
08/20/2012
Mortgage markets worsened for the third straight week last week as the U.S. economy showed new signs of expansion, and as little new news came from Europe. August has been a rough month for rate shoppers. Since the start of the month, mortgage rates in Maple Grove have climbed steadily and are no...
08/19/2012
According to Freddie Mac's weekly Primary Mortgage Market Survey, for the third straight week, the 30-year fixed rate mortgage rate rose, this time tacking on 3 basis points on a week-over-week basis to 3.62%, on average, nationwide. The 3.62% mortgage rate is available to mortgage applicants wil...
08/18/2012
Should you lease a new car, or should you buy one? Like most financial questions, the answer depends on your situation. For some people, leasing a car presents distinct economic advantages. For others, buying a car is the way to go. Here's the important highlights: Leasing allows you to drive a c...
08/15/2012
Mortgage markets worsened last week as the investors moved back into risk-taking mode. Better-than-expected economic data in the U.S. plus a general feeling that the ongoing Eurozone issues will be soon be resolved (or lessened) contributed to a second straight week of rising mortgage rates. One ...
08/13/2012
80 U.S. metropolitan markets are showing "measurable and sustained growth" this month, according to the National Association of Homebuilders' Improving Market Index. It's good news for the economy and good news for housing. The NAHB's Improving Market Index is meant to identify U.S. markets in e...
08/09/2012
Planning to make a late-August purchase closing? Keep an eye on your calendar. The last Friday of this month coincides with Labor Day Weekend, which may make for a complicated, end-of-month closing. If you're planning to close on, or around, August 31, 2012, plan ahead. Leaving anything to the pr...
08/07/2012
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday. The vote was nearly unanimous. Only one FOMC member, Richmond Federal Reserve President Jeffrey Lacker, dissented in the 9-1 vote. The Fed Funds Rate has...
08/01/2012
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