Daily Forecast Update: New Home Sales, Mortgage Applications Share Today at 11:34am August 26, 2009By Lawrence Yun, Chief EconomistDaily Forecast Update NAR's monthly official forecast as of August 4th GDP Q2: +1.6% GDP Q3: +1.5% GDP Q4: +2.5% Unemployment rate by the end of 2009: 10.5% Average 30-year fixed mortgage rate by the end of 2009: 5.6% What does today's data mean for REALTORS® and consumers? The housing market has clearly turned for the better. The buyer psychology is evidently shifting from "why buy now when I can buy later" to "do not miss out on a once-in-a-lifetime drop … (1 comments)
tucson loan officer: New inventory likely to hit nationwide?? Give me the Maalox...
- 08/24/09 10:07 AM
As of today, over 9% of all home loans are delinquent!! This is outrageous and must be helping sales of Maalox and Tums. Unemployment is at 7.4% nationally with over 5 million people being out of work for over 6 months. If only 10% of all delinquencies turned into short sales or foreclosures, this would add over 69 billion dollars worth of new inventory. The sad part for many people is that they have given up on saving their homes as they are upside down. Let's hope that the number is not close to the 10% level... If not, I may … (2 comments)
tucson loan officer: How to tell is eggs are bad...
- 08/23/09 02:11 PM
This is another one of my silly posts but it really works. Before you toss out any eggs, usually around the date on the carton, fill a pot with water. If the eggs float, toss them out. If not, cook and enjoy! My wife still does not trust this method but it does work!! … (12 comments)
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