inflation: December’s Job Report : Good For Home Affordability - 01/07/11 02:13 AM
On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report.
More commonly called “the jobs report”, the government’s data include raw employment figures and the Unemployment Rate.
The jobs report hit the wires at 8:30 AM ET today. It’s making big waves in the mortgage market and may help home affordability for buyers in Bangor this weekend, and would-be refinancers across Maine.
For this month, and for the rest of 2011, employment data will figure big in mortgage markets.
7 million jobs were lost in 2008 and 2009. Fewer than one million jobs were … (0 comments)

inflation: The Fed Minutes Keep Mortgage Rates On Hold (For Now) - 01/05/11 01:14 AM
The Federal Reserve released its December 14 meeting minutes Tuesday afternoon. There wasn’t much there to disturb mortgage markets, thankfully.
The “Fed Minutes” is an official recap of the most recent meeting of the Federal Open Market Committee. It’s published 8 times annually, 3 weeks after the FOMC adjourns.
The Fed Minutes is similar to the meeting minutes released after a corporate conference or condo association gathering in that they provide additional details about the conversation and debate that occurred between meeting attendees.
The Fed Minutes are a lengthy companion to the Federal Reserve’s brief, more well-known, post-meeting press release. But, whereas … (1 comments)

inflation: What’s Ahead For Mortgage Rates This Week : December 20, 2010 - 12/20/10 01:11 AM
Mortgage markets worsened again last week as belief in a U.S. recovery and concerns for inflation took hold on Wall Street.  Conforming mortgage rates rose in Maine for the 6th straight week.
According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage is 0.66% higher this week as compared to rates on November 11, but loan originators will tell you that figure is understated.
Real mortgage rates — mortgage rates available to everyday homeowners and buyers in Belfast are up by as much as a full percentage point since November, and loan costs are rising, … (1 comments)

inflation: What’s Ahead For Mortgage Rates This Week : November 22, 2010 - 11/22/10 01:22 AM
Mortgage markets worsened last week as the U.S. dollar gave up ground in currency markets, and inflation concerns mounted. In response to the events, conforming mortgage rates in Maine rose for the third straight week.
Mortgage rates have now climbed by as much as half-percent since the start of the month, and Freddie Mac reports average loan fees to be higher, too.
The 7-month rally in rates may be nearing its end. The 30-year fixed rate mortgage is at a 4-month high after reaching an all-time low just 3 weeks ago.
The abrupt change in rates makes for an interesting … (2 comments)

inflation: What’s Ahead For Mortgage Rates This Week : November 15, 2010 - 11/15/10 03:54 AM
In a holiday-shortened trading week, mortgage markets tanked last week, casting doubt on whether the bond market’s 7-month bull run will continue. Fears of inflation caused conforming mortgage rates to rise in Maine.
Last week marked the first sizable mortgage rate increase over the course of 7 days since April.
The biggest reason why rates rose last week was because of concerns that the Federal Reserve’s latest round of stimulus will devalue the U.S. dollar.
The Fed pledged an additional $600 billion to the bond markets two weeks ago and, to meet this obligation, the group will have to, quite literally, … (1 comments)

inflation: Fed Minutes Edge Mortgage Rates Higher - 10/13/10 02:19 AM
The Federal Reserve released its September 21, 2010 meeting minutes Tuesday afternoon. Mortgage rates in Maine are slightly higher today.
It’s unwelcome news for this season’s home buyers, and existing homeowners with plans to grab lower rates. Mortgage rates made new lows last week and may have reached a turn-around point.
The “Fed Minutes” is published 8 times annually, and is the official meeting recap for the Federal Open Market Committee. Similar to the meeting minutes released after a corporate conference or condo association gathering, the Fed Minutes details the conversation and debate between meeting attendees.
Minutes are the lengthy companion … (1 comments)

Shannon Odom (Northeast Bank)

Shannon Odom

Bangor, ME

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Address: 21 Main Street, Suite 203, Bangor, ME, 04401

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