Shannon Odom's (smodom) Blog

Mortgage and Lending - Northeast Bank - NMLS ID 509649



No doubt you’ve heard that mortgage rates are low. They’re lower than they’ve ever been in history.  The news is everywhere. Just check out some of these headlines from the last 24 hours: Mortgage rates set new lows for the 6th straight week (Reuters) Mortgage rates fall again; 30-year fixed at ...
For the second consecutive month, U.S. consumer confidence is plunging. July's official reading is its lowest since July of last year and the figures run in stark contrast to just two months ago, when the index touched a multi-year high. According to The Conference Board, July's figures are refle...
Standard & Poors released its Case-Shiller Index Tuesday. On a seasonally-adjusted basis, between April and May 2010, home prices rose in 19 of Case-Shiller's 20 tracked markets.  It's the second straight month of strong Case-Shiller findings. Also, May's numbers are a mirror-image of February's...
After a down month in May, the sales of newly-built homes appears back on track. As published by the Census Bureau, June’s New Home Sales report showed: A 24 percent sales volume increase from the month prior A 2-month drop in the supply of newly-built home There are now just 210,000 new homes f...
Mortgage markets worsened for the first time in 6 weeks last week. Investors were pleased with corporate earnings reports and the European bank stress tests results.  Stocks gained on the news, and bonds lost. Mortgage rates rose last week, but only slightly. Rate are still hovering near their lo...
Consistent with most post-home buyer tax credit housing news, the National Association of Realtors® says Existing Home Sales eased lower last month. An "existing home" is a home that cannot be considered new construction. The 5 percent drop in sales from May to June was expected, but a closer loo...
The New York Times ran an important story this week concerning pregnancy and mortgage approvals. Titled "Need a Mortgage? Don't Get Pregnant", the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing. NBC's The Today Show picke...
Single-family Housing Starts eased lower last month, falling by 0.7 percent from May, or 3,000 units nationwide. A “housing start” is a home on which construction has started. June’s Housing Starts data is somewhat soft and may partially explain why home builder confidence dropped to its lowest ...

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