spirit messingham: Mortgage Rates for Tucson, AZ October 7th, 2016 + Market Commentary
- 10/07/16 07:03 AM
Mortgage bond prices finished the week lower which put upward pressure on rates. Rates were near neutral the beginning on the week but fell mid-week. The employment data was mixed. ADP payrolls showed the economy added 154K jobs in September. Economists expected the creation of 171K jobs. Weekly jobless claims printed at 249K and continuing claims, a summation of all receiving benefits, at 2,025K. Expectations were for claims at 265K and continuing claims at 2,062K. The heavyweight employment report came in along the same lines as the ADP data. The Unemployment rate was 5% vs. the expected 4.9%. Payrolls rose 156K … (0 comments)
spirit messingham: Tucson, AZ Mortgage Rates 10/1/16
- 10/01/16 04:47 AM
Mortgage bond prices finished the week near unchanged which kept rates basically flat. Rates improved Monday morning as news out of the Eurozone focused on Deutsche Bank and legal proceedings with the U.S. government. There was flight to safety buying of U.S. debt instruments as a result. That unwound a bit toward the end of the week as news reported a possible settlement that would reduce the payment from $14B to around $5.4B. The data was mixed. Final GDP rose 1.4% in the 2nd quarter versus an expected reading of 1.3%. Weekly jobless claims were better than expected. Personal income rose … (0 comments)
spirit messingham: Tucson AZ Mortgage Rates + Market Commentary
- 09/23/16 02:07 PM
Mortgage bond prices finished the week higher which helped rates fall. There was some seesaw trading but within a relatively narrow ahead of the Fed meeting Wednesday. The Fed reduced growth projections for this year and mortgage bond prices rose which pushed rates lower Wednesday afternoon and into Thursday morning. The data was mixed. Housing Starts were 1142K versus the expected 1186K. Weekly jobless claims printed at 252K and continuing claims, a summation of all receiving benefits, at 2,113K. Expectations were for claims at 262K and continuing claims at 2,143K. Existing home sales printed at 5.33M units versus the expected 5.5M … (0 comments)
spirit messingham: Mortgage Rates for Tucson, AZ 9/17/16 + Market Commentary
- 09/17/16 01:47 AM
Mortgage bond prices finished the week near unchanged which kept rates steady. There was some seesaw trading but within a relatively narrow margin as the possibility of a Fed rate hike in the short term waxed and waned. Fed Governor Lael Brainard made dovish remarks which surprised traders who were prepared for a signal of a rate hike. Producer prices were unchanged versus the expected 0.1% increase. The core, which excludes volatile food and energy prices, rose 0.1% as expected. Retail sales fell 0.3% versus the expected 0.1% decrease. Consumer prices rose 0.2% slightly higher than the expected 0.1% increase. The … (0 comments)
Mortgage bond prices finished the week near unchanged which kept rates steady. There was some seesaw trading but within a relatively narrow margin as Fed officials continued to discuss rate increases. Fed Vice-Chair Fischer said the economy was near full employment. Consumer confidence was expected at 97 but came in at a 101.1 reading.
ADP employment increased 177K versus the expected 170K increase. Weekly jobless claims were 263K versus the expected 265K. Productivity fell 0.6% versus the expected 0.5% decrease. ISM Index was a weaker than expected 49.4. Analysts looked for a mark of 52. Unemployment was 4.9% and payrolls increased … (0 comments)
spirit messingham: Tucson AZ Mortgage Update for August 26th, 2016 + Market Commentary
- 08/26/16 07:11 AM
Mortgage bond prices finished the week near unchanged holding rates steady. New home sales printed at 654K versus the expected 580K. Existing home sales printed at 5.39M versus the expected 5.54M units. According to the FHFA Housing Price Index, housing prices rose at a 5.6% annual rate in the previous 12 months. The monthly gain was 0.2% which was near expectations. Federal Reserve Chair Yellen spoke at the Jackson Hole Symposium. The gathering is sponsored by the Federal Reserve Bank of Kansas City and focuses on important economic issues that face the U.S. and world economies. She provided no clear indication … (0 comments)
spirit messingham: Tracking the Closing Disclosure (CD) from the Lender
- 08/26/16 06:00 AM
With TRID, loan borrowers are not allowed to sign closing documents until 3 days after they have received and signed the Closing Disclosure (CD) from the lender. If a borrower signs the Closing Disclosure on a Tuesday, then the borrower can sign loan documents on Friday. The day the CD is signed counts as the first day but Sundays and holidays do not count.
Ask your lender to be notified when the CD is sent to the borrower so that you can make sure the borrower signs the CD in a timely manner. This will increase the chances of on-time closings.
Setting expectations … (1 comments)
spirit messingham: 8.19.16 Mortgage Update Tucson, AZ
- 08/20/16 04:48 AM
Mortgage bond prices finished the week lower which pushed rates higher. Rates started the week higher and ended the week higher with only a slight reprieve Thursday. The NAHB Housing Index was higher than expected. Housing starts were 1211K versus the expected 1180K. Consumer prices were relatively in check. The core rose 0.1% versus the expected 0.2% increase. Industrial production rose 0.7% versus the expected 0.3% increase. Fed members appeared to prep the financial markets for a rate hike this year. New York Fed President Dudley and San Francisco President Williams both talked about a rate hike and Williams said the … (0 comments)
spirit messingham: Tucson Votes for 7th Historic City Landmark in Colona Solana
- 08/11/16 01:24 AM
Newest city of Tucson National Historic Landmark right here in our historic subdivision of Colonia Solana (there are 7 in the entire city). Interesting enough, not our first one in Colonia Solana, as the El Con Water Tower is also a City National Landmark. The Voorhees-Pattison House can be seen at the corner of Randolph Way and E Via Golondrina across the street from Randolph Park on the way to Reid Park.
After a year of work and public meetings the City of Tucson Mayor and Council voted unanimously to create our 7th Historic Landmark: the 1929 Voorhees-Pattison House, designed by renowned … (0 comments)
spirit messingham: Mortgage Rates Rates for July 29th 2016 + Market Commentary
- 07/30/16 03:03 AM
Mortgage bond prices finished the week slightly higher which put downward pressure on rates. Rates were flat the beginning of the week amid some stock weakness. Stronger than expected data Tuesday caused rates to bump higher. New home sales printed at 592K versus the expected 560K. The strong housing data was countered by weaker than expected manufacturing data Wednesday morning. Durable goods orders fell 4%. Economists expected orders to fall 1%. The Fed kept rates unchanged as expected. The odds of a Fed rate hike before the end of the year fell to around 28%. Q2 GDP was 1.2%. Economists expected … (0 comments)
Mortgage bond prices finished the week slightly lower which put upward pressure on rates. Rates were flat the beginning of the week amid mixed data. The NAHB Housing Index was 59 versus the expected 60. Housing starts were 1189K. Analysts looked for a reading of 1170K. Rates worsened Thursday morning in response to better than expected jobs data. Weekly jobless claims were a lower than expected 253K versus the anticipated 265K. The Philadelphia Fed business conditions index was down 2.9 versus the expected positive 5.0. This countered some of the selling pressure from the jobs data but we were still negative. … (0 comments)
Mortgage bond prices finished the week lower which put upward pressure on rates. Rates were flat the beginning of the week amid no data and some stock strength. The global stock rally continued and rates eventually pushed higher. The Treasury auctions were weaker than normal as the flight to quality influx of funds into U.S. debt instruments tapered off. Producer prices rose 0.5% and the core value, which excludes the volatile food and energy costs, rose 0.4%. The figures were expected to rise 0.3% and 0.1% respectively. Weekly jobless claims printed at 254K and continuing claims, a summation of all receiving … (0 comments)
This program is available for only the city of Tucson and South Tucson. Here are the basics:
Income limit: $92,984 annual income Sales price limit: $371,936 maximum Debt ratio: 45% maximum Minimum credit score : 640 Max LTV: 95% Down payment assistance: 10% of sales price up to maximum of $20,000. 0% interest, no payments, forgiven after 5 years Loan type: Conventional, 30 year fixed rate, owner occupied Reduced mortgage insurance cost Eligible properties: existing single family, townhouses or eligible condos Buyers do not need to be first time homebuyers … (0 comments)
spirit messingham: Interest Rate Update:Labor Statistics + Global Market Uncertainly
- 07/08/16 06:13 AM
In today’s economic news the US Bureau of Labor Statistics released its latest data on the health of our nation’s employment. The unemployment rate rose from 4.7% to 4.9% while Non-Farm Payrolls surged by an unexpected amount of 287K. This was the largest increase since October of 2015. May was revised to show an increase of 11K from the originally reported figure of 38K and April was revised to show a gain of 144K from 123K. Average Hourly Earnings increased by .1%. The Labor Participation Rate was 62.7. The latest data helped to reduce concerns following last month’s very weak report … (0 comments)
spirit messingham: Non-Borrowing Spouse When Applying for a Loan
- 07/08/16 03:42 AM
Borrowers are allowed to buy in their sole and separate right even though they may be married. In a community property state such as Arizona, if the spouse is not going to be on title, the spouse will be required to sign a disclaimer deed at Title.
Some married borrowers will apply for the mortgage loan on their own but have their spouse on title. This is commonly done when the non-borrowing spouse has unacceptable credit or a much lower credit score than the spouse. It can also happen when the spouse is a foreign national without a social security number.
In either … (5 comments)
spirit messingham: 7/1/16 Mortgage Rates: Bond Prices Push Rates Lower
- 07/01/16 09:24 AM
Mortgage bond prices finished the week higher which pushed rates lower. Rate movements were limited most of the week but most of the positive improvements came early in continuation of Brexit fallout the week before. The U.S. economy grew at a 1.1% the first quarter which was as expected. Consumer confidence was a strong 98.0 versus the expected 93.1 reading. Personal income rose 0.2%, spending rose 0.4% and core PCE inflation rose 0.2%. That data was near expectations and did not move rates. A slight stock recovery Wednesday erased some of the earlier MBS gains. Rumors of the ECB expanding their … (0 comments)
Recently, we handled a purchase where the initial cost of the flood insurance premium was $5,800 a year. The buyer chose to pay for an elevation certificate that cost $800 and the flood insurance premium dropped to $1,600 per year. Bids can change from provider to provider. Reprenting a buyer recently he received a bid for $3800. Suggested another bid and it came back $920 for … (1 comments)
spirit messingham: Open House Historic Sam Hughes Central Tucson 6/26/16 1-4pm
- 06/25/16 02:16 AM
Please join Spirit Messingham, Central Tucson specialist for an open house to the public Sunday 6/26/16 from 1-4pm. New lower price. Please call listing agent, Central Tucson specialist Spirit Messingham at (520) 471-6900, if you would like to view this or any property for sale in Tucson, AZ. Stunning 1926 mud adobe bungalow on spacious R2 corner lot located in the heart of Sam Hughes, walking distance to U of A w/ No HOA. Recently renovated with authentic red oak hardwood flooring, Carerra marble counters, recessed lighting, new fixtures, ceiling fans, lighting, wood doors, fresh paint inside & out. Updated plumbing & … (6 comments)
spirit messingham: Weekly Mortgage Rate Summary Tucson, AZ 6/17/16
- 06/17/16 07:49 AM
Mortgage bond prices finished the week higher which pushed rates lower. Rate movements were limited most of the week but the Fed meeting Wednesday afternoon and data Thursday resulted in a drop. Retail sales increased 0.5% and were relatively in line with estimates. Industrial production fell greater than expected. Producer prices rose 0.4% and the core rose 0.3%. These figures were higher than expected. Consumer prices were very close to estimates with an increase of 0.2% and a core increase of 0.2%. The Fed made no rate changes. Weekly jobless data was higher than expected. Claims came in at 277K versus … (0 comments)
spirit messingham: Public Safety in Central Neighborhoods-Tucson AZ
- 06/13/16 06:16 AM
In the past few weeks we’ve seen an uptick in crimes of opportunity in several midtown neighborhoods. In response, Steve Kozachik's had a few different neighborhood meetings focused on public safety and how to protect your property. There are some really easy steps you can take to harden your target. Some of those include reinforcing your door frames, using deadbolts, installing a 190 degree viewer in your door, securing your AC units from the inside, trimming shrubbery – adding some cactus around windows, video-taping or otherwise marking your valuables with your driver’s license number, and posting a notice to would-be burglars that your stuff is marked. TPD makes several … (0 comments)
Third generation, full-time licensed Realtor, putting my clients' needs first. I work with all of my client's one on one, taking pride in the quality work and services I provide. In the top 1% of all Tucson Realtors by sales volume 2012 - 2015. I have the experience, passion and knowledge to help with your residential real estate needs. Call (520) 471-6900 for a free and no obligation consultation.
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