minnesota: July 14th Market Update: Yelling about Yellen
- 07/16/14 01:23 AM
Good Morning,
I HAVE TO TYPE THIS IN ALL CAPITAL LETTERS TO MAKE IT SOUND LIKE I’M YELLING. Now that I’m done with that, let’s reassure you that there is no reason to really yell, the word play is something I couldn’t resist.
Janet Yellen, The Federal Reserve Chair who took over for Ben Bernanke this year had a nice little chat with Congress on the state of the economy yesterday. The core of the conversation is that the economy is moving in the right direction but still needs Federal Support. Currently, Quantitative Easing, the main lynch … (1 comments)
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minnesota: July 9th Market Update: How's your business?
- 07/09/14 01:09 AM
Good Morning,
Rates have remained fairly stable. This is both a good and bad thing. On the plus side, the buyers I’m working with right now love low rates and let’s be honest, who doesn’t?
Here’s the bad thing: With interest rates being predicated on supply and demand, rates holding on this lower end, means there is lower demand for mortgages and talking with several Realtors, it seems to correlate that the demand for home buying this spring and summer is much more stagnant than originally anticipated.
How is your business this summer? Are you seeing … (1 comments)
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minnesota: April 30th Market Update: C'mon May flowers, where are you!?!
- 04/30/14 02:28 AM
Good Morning,
I’m going on record with this. When we hit 60 degrees for the first time again, I’m breaking out the Sandals in celebration. Wow, what a long, cold spring this has turned out to be. It seems to be affecting the housing market as well.
Media as a whole is quick to position the latest poor report on GDP (Gross Domestic Product) as bad weather affected. I can see it both ways. I see the slow Twin Cities housing market and make the assumption that few people like to move or look at houses, or even peak … (0 comments)
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minnesota: April 16th Market Update: Heartbleed Bug
- 04/16/14 01:51 AM
Good Morning!
You may or may not have heard about the Heartbleed Bug that’s affecting the internet right now.
I find a need to keep on top of this information because, like many working in real estate and financial services, there is a lot of client information at risk if someone gained access to my accounts. The most crucial data is not at risk, mind you, but it’s amazing what can be done with names, addresses and phone numbers too.
For those of you that want to take an extra step to be safe and haven’t, I’d … (0 comments)
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minnesota: March 19th Market Update: Yelling about Yellen
- 03/19/14 02:48 AM
Good Morning!
Once again Rates are holding steady. The big news today is that Janet Yellen will have her first policy making meeting this afternoon after taking over for Ben Bernanke as the head of the Federal Reserve.
With the emotional nature of reaction, it’s good know what many analysts are expecting going into today’s meeting: http://money.cnn.com/2014/03/17/news/economy/yellen-fed/index.html?iid=HP_LN
Big changes or unexpected actions from this general guideline could shift the market up or down. Only time will tell with the meeting coming at 1PM Central today. Personally, I’m not expecting a big shift in the mortgage market but anything … (0 comments)
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minnesota: March 5th Market Update: Sick kids and the home market.
- 03/04/14 11:56 PM
Good Morning!
Ah, I remember it like it was just yesterday. My 1 year old was spending every other week teething and then getting a cold turned into an ear infection , rinse and repeat. I believe remembering this is called PTSD. Then a couple years flew by as I acclimated to sleeping regularly.
So, sitting at home with my son yesterday in the midst of his turn at this blessed phase of life…did I say, blessed? Scratch that. In this cyclical nature of a little snot factory lumbering his first month of steps and lovely diseases onto … (0 comments)
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minnesota: February 26th Market Update: Polar Vortex and home sales.
- 02/26/14 12:05 AM
Good Morning!
Yep, it’s cold. It’s winter, so I guess it’s to be expected. Let’s move on.
There is some worry that the housing sector has seen its best leap forward come and go already. Frankly, I don’t buy it. With this debilitating weather throughout the country, home sales are still rising. That’s good news as we have not even seen the spring market yet.
The main fear isn’t the an expected slowdown in home sales, but more so, a flat line in home prices. The main argument being that mortgage rates will be rising and … (0 comments)
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minnesota: February 19th Market Update: More Tapering to come?
- 02/19/14 12:23 AM
Good Morning!
Interest rates remain steady from last week and a lot of this has to do with what is to come later this afternoon. The Federal Reserve’s meeting minutes will be released at 1pm central today. Both the stock and the bond market seem stalled at the moment leading most of us to believe that investors are waiting on word from the Federal Reserve.
What most are expecting to hear is based on the Quantitative Easing policies and additional advice on tapering down this program.
What Minnesotan’s are waiting for, is tapering of the continued snowfall. … (0 comments)
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minnesota: November 20th Market Update:
- 11/20/13 12:41 AM
So Matt, what happened last week? I didn’t see a Market Update??
Good question Matt, and I’ll be happy to answer that question. Unfortunately we had a respiratory infection making its way through the family. Everyone is happy and healthy now, albeit still sleep deprived so I’m back at full steam in the office.
In the two weeks since my last update, rates have remained virtually identical and in the holiday season, I would expect them to be a little less volatile from day to day. I’ll spare you the details. Let’s talk Holidays!
Every year … (1 comments)
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minnesota: November 6th Market Update: Holiday Greed?
- 11/05/13 11:37 PM
Good Morning,
Did you see this? Kmart’s Thanksgiving schedule? Wow. I remember being in highschool and working in fast food when everyone scrambled to switch shifts to leave the day before Thanksgiving for family travels. There was always a few poor souls that were going to be stuck telling their folks that they couldn’t get the day off of work, forcing the entire family to revamp their plans. I couldn’t fathom the conversations about who would be forced to work on Thanksgiving day! I’m a big believer that the holiday’s should be a right. We spend enough time away from … (0 comments)
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minnesota: October 30th Market Update: Here comes Halloween!
- 10/30/13 02:30 AM
Good Morning,
Interest rates are continuing to trickle a little lower. Today’s investing seems to be based on the Federal Reserve speaking today and whispers that tapering of Quantitative Easing will be announced. If the whispers are to be believed, then this will be a short term timeframe for lower rates but I’m not expecting a monumental change. It really appears that we have just postponed the slow climb upwards.
In the meantime, my wife has decided that tonight is the official trial run for the kids costumes. We head over to her folks for the annual candy grab. … (0 comments)
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minnesota: October 23rd Market Update: World Series Anyone?
- 10/23/13 01:28 AM
Good Morning,
Any interest in watching this year’s World Series? I know many baseball fans who don’t want to watch the same teams battle for another trophy. Personally, I’d like to see an underdog in the mix but I also appreciate the perfection and will to win that both of these teams carry. It will be a battle of who wants this more, which is what I always hope to see in any sport as opposed to the ‘don’t screw up’ mentality….and with the snow out my window right now, baseball is the only thing that will help me remember … (0 comments)
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minnesota: October 16th Market Update: More debt talk AND PUDDLES!
- 10/16/13 01:19 AM
Good Morning,
I’ll keep this short this week. I’m sure most of us have heard just about enough about the debt ceiling. In case you do want to catch up on the potential issues at the end of today I’d go HERE.
Rates have been remaining low with the outstanding concerns of this standoff in congress but one thing to note for any borrowers that are still waiting to lock into interest rates, everything we are hearing from analysts today is take the better safe than sorry approach and lock in before any announcements shift the market. There … (1 comments)
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minnesota: October 9th Market Updates: I couldn't be a politician.
- 10/09/13 01:44 AM
Good Morning,
I honestly didn’t expect to be talking about the government shutdowns effect on the mortgage market this week. I was hoping that the stubborn children in Washington could act as appropriately as my 3 year old when she realizes that her tactics aren’t solving anything. No party sway here, I think the American people as a whole are quickly realizing that it’s politician’s as a whole and their lack of concern for people in general are causing this issue.
So, how will this affect mortgages?
First off any one looking to get approved for … (1 comments)
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minnesota: October 2nd Market Update: Government Shutdown and interest rates?
- 10/02/13 02:28 AM
Good morning!
Now that we’re officially in October my mind is firmly on baseball and watching the Twins in the playoffs…2010 was a great season. I may have to watch some clips while we continue to struggle in the present.
Interest rates have been holding pretty steady since the announcement from the Federal Reserve that there would be no immediate tapering with Quantitative Easing. So, what does the government shutdown mean for interest rates??
Right now, not much. If the shutdown lasts for an extended period of time, we could see rates start to lower even further as … (0 comments)
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minnesota: September 25th Market Update: The results are in!
- 09/24/13 11:49 PM
Ah, fall in Minnesota. The crisp cool air, the start of the leaves turning color and for most of my friends in their mid thirties or a little further in life, the welcome relief of school starting J My kids are a few years off from that stage so I plan on just enjoying their young energy (as much as coffee will allow) before that next step. I must be a born and raised Minnesotan though. I spend my evenings and weekends in sandals and will until the snow flies.
Wait a minute, I had a point here in … (1 comments)
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minnesota: September 18th Market Update: The Fed will Taper, won't they?
- 09/18/13 12:24 AM
Good morning!
Will the Fed Taper off their quantitative easing (QE) policy and if so, how aggressively? That’s the big question that everyone is asking today. HERE is a great article that goes over what is once again as well as the expectations for what we should be seeing when the Federal Reserve releases their statement today.
Many of my clients are asking me: what will happen to interest rates and the short answer is that we can’t ever be sure. The longer answer is a bit more complex as much of this boils down to expectation over the … (0 comments)
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minnesota: September 11th Market Update: Never Forget
- 09/11/13 02:30 AM
Good Morning,
You will see rates have remained stable over the past week and instead of details I always like to share stories on this date.
I was driving to work 12 years ago when the first plane hit, stuck on the highway I was wondering to myself if this was real or a ‘war of the world’s’ radio hoax. In the office with my coworkers, we watched the second hit and the ensuing coverage.
Within an hour, we were all on the way home to be with friends and family.
The first call I … (1 comments)
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minnesota: September 4th Market Update:
- 09/04/13 01:53 AM
Good Morning,
Rates are up a little from last week and the main talk throughout the markets is really no different than you are probably seeing in the local news: Syria.
It’s a complicated subject and I’m sure there is not a 100% correct answer to the situation. If we have the means to stop human suffering should we be obligated to act? Will our actions help the situation or escalate it? How do we choose when and where to intervene? Why Syria but not Somalia? What is the cost of inaction? What is the line between war … (2 comments)
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minnesota: August 28th Market Update: There is NEVER one interest rate.
- 08/28/13 02:03 AM
Good Morning!
I wanted to take this hot and steamy summer day to do two things. First, I fully plan on staying inside and avoiding the state fair on a 95 degree day. Second, I wanted to take a brief sabbatical from talking about the markets and instead offer a little insight to how I go about my business with both homebuyers and homeowners looking to refinance.
One of the first questions I’m always asked is: What is your interest rate? Then: What are your closing costs?
It’s important to note, that there is NEVER one single interest … (0 comments)
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