Friends and Clients -- Mortgage rates have again done the incredible by dropping close to their recent records lows. Rates have fallen partly due to the government's announcement that they’re ending a widely-loathed fee. The Federal Housing Finance Agency is abandoning its 0.5% fee on refinances. Zillow economist Matthew Speakman said the fee "artificially increased the average mortgage rate." The average 30-year fixed-rate mortgage is currently at 2.78%, which is cheaper than it’s been since February 18, when the average was 2.81%. The average rate on 15-year fixed-rate mortgages also dropped from 2.22% to 2.12%. The recent decline in rates is also partly due … (1 comments)
Friends and Clients -- I hope you and your loved ones are staying safe and healthy. COVID-19 continues to dominate every aspect of our lives, both here in the U.S. and across the globe, and even though it can be difficult to stay up to date with the latest changes, it is my goal to keep you informed. Here are a few updates about how the coronavirus continues to impact the economy and the housing market: More companies are adapting to the pandemic economy in creative and unorthodox ways. This article from the World Economic Forum lays out why and how some companies … (1 comments)
Friends and Clients -- I hope you and your loved ones continue to stay safe and healthy. The coronavirus continues to dominate every aspect of our lives, both here in the United States and across the globe, and even though it can be hard to stay up to date with the latest changes, it is my goal to keep you informed. Here are a few updates about how COVID-19 continues to impact the economy and the housing market: According to MarketWatch, requests for mortgage forbearance increased 1,896% nationwide from March 16 to March 30. The CARES Act requires servicers to provide forbearance to … (1 comments)
Friends and Clients -- The good times might be coming to an end. Yes, the economy is currently roaring along. The stock market is at an all-time high, unemployment is near record lows, and inflation is minimal. And yet, this might be the last party before the crash. A recent Wall Street Journal poll of 73 economists found that the majority believe a recession is coming in 2020. Active homebuyers echo these predictions, with 70% expecting the recession to come in the next several years. And it's not just predictions. The growth of home values has slowed or decreased nationwide over the last year, and home … (0 comments)
economy: 2008 Economic Stimulus Package - Yay or Nay?
- 03/19/08 05:10 PM
I didn't write this blog to provide people with the details concerning the stimulus package. So if that 's what your looking for check out the link below. http://www.irs.gov/newsroom/article/0,,id=177937,00.html A more appropriate title should be "My .02 on the stimulus package". I recently read this quote and it really got me thinking... "We believe the economic stimulus package bill that Congress sent to the president today is strong legislation that will quickly impact the nation's families and economy," said NAR President Richard Gaylord. I totally agree with Richard Gaylord. It will "quickly impact the nation's families and economy". But is quick the right answer?Not to go off on a tangent but I … (2 comments)
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