interest rates: The Happenings In A Reverse Mortgage - 04/15/14 10:14 AM
When you're looking for ways to supplement your retirement income, there are a number of different options to consider. A reverse mortgage is becoming a more popular and more common way to provide income when your retirement savings don't leave enough to live on.
But with all the information out there, how do you know what happens in a reverse mortgage and whether it's a good option for you?
What Is A Reverse Mortgage?
A reverse mortgage essentially reverses the typical actions of a mortgage. Instead of making payments on your home, you receive payments against your home's equity. The amount … (0 comments)

interest rates: Are Interest Rates On The Rise - What's The Next Move? - 04/02/14 08:06 AM
As the federal reserve continues to taper quantitative easing measures, financial experts project mortgage interest rates will climb in the next two years. Could this be the much awaited ray of light at the end of the proverbial tunnel for builders and investors or will it drive hesitant home buyers to dig in and shelter in place?
Homeowners who are vacillating between refinancing for a lower interest rate and staying the course may find the time has come to make a decision.
Shrinking unemployment numbers and rising retail sales figures signal that the economy is improving. Even if no one is … (0 comments)

interest rates: The Federal Open Market Committee Holds Steady With MBS Investments - 07/02/13 05:57 AM
The Federal Open Market Committee (FOMC) of the Federal Reserve decided to continue its current policy of quantitative easing (QE) based on current economic conditions. The Fed currently purchases $40 billion in mortgage-backed securities (MBS) and $45 billion in Treasury securities monthly.
Objectives for the QE program include:
Keeping long term interest rates, including mortgage rates, low Supporting mortgage markets Easing broader financial conditions FOMC repeated its position of evaluating QE policy based on inflation, the unemployment rate and economic developments.
Members of the FOMC determined that keeping the federal funds rate between 0.00 and 0.25 percent until the following conditions … (1 comments)

interest rates: Fed Meeting Statement Points To Continuing Low Interest Rates - 05/02/13 08:15 AM
Wednesday's Federal Open Market Committee (FOMC) statement indicates the Federal Reserve's commitment to keeping long term interest rates and inflation under control.
The Fed will continue monitoring inflation, but does not expect inflation to rise more than 0.50 percent above its target rate of 2.00 percent over the next one to two years.
Ongoing monitoring of inflation and unemployment, as well as developing economic news, will guide the Fed in its future determinations concerning policy for its present iteration of quantitative easing (QE3).
Currently, the Fed purchases $85 billion of treasury securities and mortgage –backed securities each month with the goal … (0 comments)

interest rates: Fed Meeting Statement Reveals Good News For Real Estate - 03/21/13 04:39 AM
The Federal Reserve's statement after yesterday's Federal Open Market Committee (FOMC) meeting left no doubt as to the Fed's dual commitment to keeping long term interest rates down and encouraging economic growth. No changes to the Fed's current bond-buying program were made during today's FOMC meeting.
The Fed's monthly purchase of $85 billion in bonds and MBS works by boosting bond prices, which typically helps with keeping mortgage rates lower.
The Fed reaffirmed its position that it will not withdraw or reduce monetary easing until the unemployment rate is substantially lower.
Unemployment Rate Improving Nationally:
Fed predictions for the national unemployment … (0 comments)

interest rates: Surprisingly Strong Jobs Report May Affect Mortgage Rates - 03/13/13 04:35 AM
Last week's jobs report -- a combination of the Department of Labor's Non-farm Payrolls Report and Unemployment Rate -- provided investors and job seekers with unexpected good news. Job growth for February handily exceeded most economists expectations of 160,000 by adding 236,000 new jobs.
According to the Bureau of Labor Statistics, employment increased in business and professional services, construction and healthcare:
Business and professional services added 73,000 jobs Construction added 48,000 jobs. Of these, 17,000 jobs were for residential construction. Healthcare added 32,000 jobs Since September, construction employment has risen by 151,000. This increase in construction jobs may point to a … (2 comments)

interest rates: 30-Year Fixed Rate Mortgage Drops To All Time Low - 3.49% - 09/23/12 09:08 PM
For the first time in 9 weeks, mortgage rates have made new lows.
According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage rate fell 6 basis points to 3.49% this week, tying the all-time low set in late-July. The 15-year fixed rate mortgage also dropped, moving to 2.77%. This, too, marks an all-time low.
The Federal Reserve’s plan to pressure mortgage rates down may be working.
However, depending on where you live, your access to these all-time rates may be limited. This is because the Freddie Mac “published rate” is a national average based on … (0 comments)

interest rates: 30-Year Fixed Rate Mortgage Rates Fall To 3.62% Nationwide On Average - 07/06/12 10:25 PM
30-year fixed rate mortgage rates made new, all-time lows once again this week.
According to Freddie Mac's weekly mortgage rate survey of more than 125 banks nationwide, the average 30-year fixed rate mortgage rate fell 4 basis point to 3.62% nationwide.
The rate is available to conforming, prime borrowers. A "prime" mortgage applicant typically has excellent credit, verifiable income, and at least 25% equity in their home.
And, it's not just the 30-year fixed rate mortgage that made new lows in this holiday-shortened week, either. The 15-year fixed rate mortgage did, too, falling 5 basis points to 2.89%, on average.
Today's low rates … (2 comments)

David Kosmecki (Bay Equity) Rainmaker large

David Kosmecki

Osseo, MN

More about me…

Bay Equity

Address: 20965 South Diamond Lake Rd, Rogers, MN, 55374

Office: (763) 519-1100

Mobile: (763) 519-1100

Email Me




RSS 2.0 Feed for this blog