home loan: Green Living: Water Saving Tips For Spring
- 04/12/14 03:05 AM
Water is the planet’s most precious resource. Access to clean water is a privilege that, unfortunately, many people still take for granted. By utilizing new water efficiency technologies and age-old conservation methods, we can help preserve the water supply for future generations. Cutting down on consumption whenever possible is something that everyone can do to live a little greener. Making Sure Your Home Holds Water The first stop on your journey to save water is to ensure your home is free of water leaks. Make your way through your home, and properly shut off the water at all fixtures and faucets. … (1 comments)
home loan: Today's Economics in a Nutshell - 04/12/2014
- 04/12/14 02:50 AM
Corporate earnings season is in bloom with two banking giants reporting their numbers Friday. Wells Fargo reported earnings per share of $1.05 versus the 97 cents expected fueled by lower loan losses and declining expenses. The nation's largest bank, JPMorgan, reported that per share earnings came in at $1.26 compared to the $1.40 that was expected. Earnings season is defined as the months of the year in which a majority of quarterly corporate earnings are released to the public. Inflation at the wholesale level unexpectedly rose in March as clothing retailers, grocers and wholesalers of chemical goods. The Producer Price Index … (2 comments)
home loan: Mortgage Rates: Float or Lock? 04/12/2014
- 04/12/14 02:45 AM
With this week's move higher we can see that the 4% coupon is nearing levels hit only twice this year. We will continue to float, but very cautiously. Rate sheets are favorable, be careful for today's view doesn't give us any clear signs. Seeing this formation after an uptrend doesn't mean you can sit back and take a vacation; for it does show indecision for the 4% coupon.
MARKET WRAP: Mortgage Bond prices rallied this week as Stocks were pressured on heavy selling as investors evaluated valuation levels against economic growth uncertainty. The major Stocks indexes had declines between … (1 comments)
home loan: Today's Economics in a Nutshell - 04/11/2014
- 04/10/14 09:47 PM
The labor markets continue to improve as the sector rebounds from the harsh winter weather. The Labor Department reported Thursday that weekly initial jobless claims declined by 32,000 in the latest week to 300,000, near a seven-year low. Claims are now down 14% compared to a year ago, and down 21% compared to same week two years ago. Claims could drop even further due to an expected upturn in the U.S. economy in the second quarter. Freddie Mac reported that the average rate for a 30-year fixed conventional home loan fell to 4.34% in the latest week compared to 4.41% in the … (0 comments)
home loan: Reverse Mortgage: How it Works
- 04/10/14 09:40 PM
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 supplement your income. 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 you are loaned is dependent on your age, your home’s … (1 comments)
home loan: Today's Economics in a Nutshell - 04/10/2014
- 04/09/14 10:04 PM
The Mortgage Bankers Association (MBA) reported Wednesday that its Market Composite Index, a measure of total loan application volume, fell by 1.6% in the latest week for its 4th straight weekly decline. The refinance index fell 5% and is at its lowest level since the end of 2013. In addition, the refinance share of mortgage activity fell to 51% of total applications to its lowest level since July 2009. The purchase index rose by 2.7% as the spring buying season gets underway. Corporate earnings season kicked off yesterday with Alcoa reporting a profit decline due to a drop in aluminum prices … (0 comments)
home loan: 4 Smart Questions To Ask Before Refinancing Your Mortgage
- 04/09/14 09:52 PM
1) Do I Have Enough Equity To Get A Mortgage? Equity is the difference between what your home is currently worth and what you owe on it. A Home worth $250,000 and you have a mortgage for $225,000 means you have $25,000 in equity. It also means that will need a loan for approx. 90% LTV (loan to value). If you have equity, that’s 1 step toward being able to qualify for a refinance. BUT…even if you do not…even if you owe more on your home than what it is worth there are 4 programs that will enable you to take … (0 comments)
home loan: Today's Economics in a Nutshell - 04/09/2014
- 04/08/14 10:08 PM
The National Federation of Independent Business (NFIB) reported Tuesday that its small business optimism index rose 2 points to 93.4. The gains reversed the declines seen in February, but has failed to breach the 95 level that has capped the Index during the economic recovery. 6 of the components improved, 2 were unchanged and 2 were lower. A spokesman for the NFIB said "the economy is at least crawling forward and not heading in reverse." The spring home buying season is underway and recent data has showed that the housing market has softened a bit. However, Fannie Mae released its National Housing Survey for … (0 comments)
home loan: Tax Deductions In Your Home? 4 Places to Look
- 04/08/14 10:02 PM
Paying your income taxes each year leave your wallet a bit thin? There may be money hiding in your home that lessens your tax burden. Here are four places to look: 1. Home-Office Deduction If you work from home, you could qualify for a home-office deduction. Taking the deduction can be a bit complicated; so many people who qualify don’t claim the exemption. An estimated 26 million Americans have home offices, but only 3.4 million claim them on their tax return. Perhaps that’s why the Internal Revenue Service attempted to simplify the process in 2013. The write-off takes into account depreciation, … (1 comments)
home loan: Mortgage Rates: What’s Ahead This Week – April 7, 2014
- 04/06/14 11:07 PM
Last week’s economic news included readings on February construction spending and multiple reports on employment data. Private sector employment was higher in March, but The Bureau of Labor Statistics reported that Non-Farm Payrolls for March fell short of expectations. According to Freddie Mac, mortgage rates ticked upward. Employment And Unemployment News ADP’s payrolls report for March was higher than February’s reading, with 191,000 new private sector jobs added. In February, 178,000 jobs were added. February’s reading originally showed 138,000 new jobs added. While analysts were confident that private-sector employment was showing signs of stability, the U.S. Bureau of Labor Statistics swamped … (0 comments)
home loan: Instant Facelift for Your Home: Wallpaper Is Back!
- 04/06/14 10:22 PM
Though it can be an entirely different story for a trend shift in the opposite direction, which then requires you to get out the soaking bucket and scraping tool, wallpaper coming back into style is a home décor blessing for many. Wallpaper is back in – in a big way! – and it’s making your dreams of accomplishing a fashionable living space come true much faster and easier than you could have imagined. Quite frankly, wallpaper can do the “fashionable home” trick to virtually any room in your house, adding that touch of warmth and personality you’ve so far only seen … (5 comments)
home loan: Millenials Have Great Homebuying Tools Available To Them
- 04/05/14 11:48 PM
The economy seems to be finally turning, and home loan interest rates are still historically low. Real estate values are starting to climb as well, all of which makes for a growing opportunity for new homeowners to get into the market before it gets too expensive again. Millennials Don’t Seem To Be On Board They represent the next generation of homebuyers, but a number of barriers can seem to be smack in the way, discouraging many. Yet there are ways around these issues. According to the Boston Globe, only 32 percent of Millennials are homeowners in 2014, either with a … (0 comments)
home loan: Mortgage Rates: Float or Lock? 04/06/2014
- 04/05/14 11:37 PM
CLOSING TECHNICAL SIGNAL: We will recommend floating into the weekend. MARKET WRAP: A not too hot, not too cold March Jobs Report sent Stocks higher at the open, but closed lower while Bonds drifted higher throughout the session. Employers added 192K jobs last month, just below the 195K expected, while the Unemployment Rate remained steady at 6.7% with the previous 2 months revised higher by a total of 37K. The 4% coupon rose by 47bp to end at 104.16. As mentioned, Stocks declined - the Dow lost 159.84 points to 16,412.71, the S&P 500 declined by 23.68 points to 1,865.09, … (0 comments)
home loan: Today's Economics in a Nutshell - 04/06/2014
- 04/05/14 11:32 PM
The employment picture got a little clearer Friday after the Labor Department reported that there were 192,000 new jobs created in March, which was just below the 195,000 that was expected. The harsh winter weather kept job creations low in December, January and early February averaging 144,000 per month. Now that spring is in the air, employers may begin to ramp up hiring efforts. The March Jobs Report also revealed that the Unemployment Rate held steady at 6.7% as more people tried to enter the labor force. The Labor Force Participation Rate (LFPR), which measures the proportion of working-age Americans who … (0 comments)
home loan: Today's Economics in a Nutshell - 04/03/2014
- 04/02/14 10:11 PM
The job markets improved in March after dismal job creations in December, January and early February. ADP reported that private employers added 191,000 jobs in March, which was below the 215,000 expected and up from the 178,000 created in February. ADP said that businesses with more than 1,000 employees added the most jobs last month. Layoffs at U.S. companies were down nearly 18% in March from February and down 30% from the same month a year ago. The Mortgage Bankers Association (MBA) reported Wednesday that its Market Composite Index, a measure of total loan application volume, fell by 1.2% … (0 comments)
home loan: Interest Rates On The Rise – What’s Your Next Move?
- 04/02/14 10:04 PM
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)
home loan: Today's Economics in a Nutshell - 04/02/2014
- 04/01/14 10:13 PM
Home prices continue to rise, due in part to a tight supply of available homes for sale. CoreLogic, a real estate data provider, reported that home prices, including distressed sales, rose by 12.2% from February 2013 to February 2014. This represents 24 consecutive months of year-over-year increases. From January to February, there was a 0.8% gain. However, prices are still nearly 17% below the peak, which was set in April 2006. National manufacturing held steady in March from the prior month as reported by the Institute for Supply Management (ISM). The ISM Index came in at 53.7 versus the 54.0 expected … (1 comments)
home loan: Today's Economics in a Nutshell - 04/01/2014
- 03/31/14 09:03 PM
Fed Chair Janet Yellen said Monday that the recent recovery in the U.S. economy still feels like a recession to many Americans, which is reason for the Federal Reserve to keep its "extraordinary" stimulus program intact for some time to come. Ms. Yellen went on to say that the number of people who voluntarily quit their jobs is noticeably below levels before the recession. In economic news, the March Chicago PMI business report showed a big drop to 55.9 recorded this month from the 59.8 registered in February. It was the lowest reading since last August. The declines were seen both … (1 comments)
home loan: What’s Ahead For Mortgage Rates This Week – March 31, 2014
- 03/30/14 11:51 PM
Last week’s economic news includes several reports about housing markets. New Home Sales and Pending Home sales reports suggest that the national housing market continues to grow, but at lower rates. Regional readings varied and suggested that winter weather was a negative influence on affected markets. In a press conference held on March 19 Federal Reserve Chair Janet Yellen said that severe winter weather had interfered with the Fed’s ability to get a clear reading on economic developments. The Case-Shiller 10 and 20-City Home Price Indices for January showed year-over-year growth of 13.50 and 13.20 percent respectively. The 20-City Home Price … (0 comments)
home loan: Mortgage Rates: Float or Lock? 03/29/2014
- 03/29/14 05:39 AM
After Friday's lock alert, we will float into the weekend as the 4% closed near support at the 200-day Moving Average. MARKET WRAP: Another day of range bound trading for Mortgage Bonds closing modestly lower, despite tame inflation data and the lowest reading on Consumer Sentiment (80.0) since November. The 4% coupon fell by 19bp to end the session at 103.97. Stocks had a volatile session - the Dow rose by 150 at the height of the day only to give up most of the gains midday before ending higher by the close at 4pm ET. The … (0 comments)
Water is the planet’s most precious resource. Access to clean water is a privilege that, unfortunately, many people still take for granted.
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