mortgage rates: How Homes Got More Affordable Because Unemployment Rates Rose - 05/24/08 04:57 AM
For the third month in a row, the economy shed jobs, suggesting that the U.S. is in a recession. March's monthly loss of 80,000 jobs is the largest since March 2003 and follows January and February's losses of 76,000 each. The weak data is edging mortgage rates lower as we head into the weekend. The connection between poor jobs data and today's falling mortgage rates is a little bit strained, but worth discussing. It all comes down to expectations. Prior to today, there was an expectation that the Federal Reserve's recent rate cuts would over-ignite the economy sometime this Summer. The … (0 comments)

mortgage rates: In 2008, Home Loans Are One Day Cheap And The Next Day Expensive - 05/12/08 08:49 AM
When mortgage rates change rapidly, it's a fiscal challenge to shop for a home and/or home loan. Lately, mortgage rates have been especially volatile, mirroring the wild moves of the stock market. Here's how up-and-down stock markets have been in 2008: Through last week, the S&P 500 Index changed more than 1 percent per day on 28 separate days. This represents 52 percent of all trading days and is the most volatile measurement since 1938. Mortgage financing is impacted by stock market changes because when money flows into stocks, it tends to come from bond markets. And, when money leaves stocks, … (0 comments)

mortgage rates: The Small Statistic Within Consumer Confidence That Didn't Show Up On The News - 05/12/08 08:27 AM
Consumer Confidence fell to its lowest point in three years and anybody who watches the evening news can understand why. Each day, news programs barrage Americans with tales of economic woe and American Opinion is largely shaped by the media. After enough time, the reporting becomes a self-fulfilling prophecy. But, in the Consumer Confidence report, there was a choice piece of data that isn't getting reported by the news programs and it's a rather important piece. Although fewer consumers expect to buy automobiles and appliances over the next six months, those with plans to buy homes is actually higher by 14 … (0 comments)

mortgage rates: What's Your After-Tax Mortgage Rate? - 05/12/08 08:20 AM
Many homeowners are entitled to two major tax deductions -- one for annual interest paid on a home loan, and another for real estate tax bills paid to government. Calculating your approximate tax credit is basic: Add mortgage interest paid and real estate taxes paid together Find your marginal tax rate Multiple your tax bracket by the sum of Step 1 So, for a homeowner that paid a combined $13,000 in mortgage interest and real estate taxes last year, and who is in the 28% marginal tax bracket, a tax credit of $3,640 may be due from the IRS. This credit … (0 comments)

 
Mike Rosen (Provident Team Real Estate)

Mike Rosen

Leesburg, VA

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Provident Team Real Estate

Address: 20130 Lakeview Center Plaza, Suite 430, Ashburn, VA, 20147

Office: (571) 302-4000

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