Apex Home Loans

Are You Wasting $471 Per Month On Your Mortgage?

2012-03-07T06:08:00.001-08:00

According to Freddie Mac's weekly mortgage rate survey, for 13 straight weeks, the average 30-year fixed rate mortgage has held below 4.000% for mortgage applicants willing to pay up to 0.8 discount points plus a full set of closing costs. These are the

Home Affordability Reaches An All-Time High

2012-03-06T05:56:00.001-08:00

Home affordability moved higher last quarter, boosted by the lowest mortgage rates in history, a rise in median income, and slow-to-recover home prices throughout MD and the country. According to the National Association of Home Builders, the quarterly Home

What's Ahead For Mortgage Rates This Week : March 5, 2012

2012-03-05T06:12:00.001-08:00

Mortgage markets worsened last week as the U.S. economy continued to show that it's in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same. In a congressional testimony Wednesday, Chairman Bernanke suggested that new, Fed-led stimulus

FHA To Raise Mortgage Insurance Premiums April 1, 2012

2012-03-02T05:58:00.001-08:00

Beginning April 1, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers throughout Rockville and the country. It's the FHA's fourth such increase in the last two years. Beginning April 1, 2012, upfront mortgage

Case-Shiller Index Shows Home Values Rising In Detroit

2012-03-01T05:56:00.001-08:00

Standard & Poors released its December 2011 Case-Shiller Index this week. The report is the most widely-cited, private-sector metric for the housing market. The index aims to measures change in home prices from month-to-month, and from year-to-year, in select U.S.

Pending Home Sales Rise To 22-Month High

2012-02-29T05:58:00.001-08:00

The housing market appears headed for a strong spring season. After a brief setback in December, the Pending Home Sales Index resumed its climb in January, posting a 2 percent gain over the month prior. The data puts pressure on Washington, DC home buyers. This is

New Home Supply Falls To 5.6 Months

2012-02-28T06:09:00.001-08:00

The new construction market rolls on. As foreshadowed by February's Homebuilder Confidence survey, which rose to a 4-year high, the Census Bureau reports new homes are selling more quickly than builders have built them, lowering the national "home supply" to levels

What's Ahead For Mortgage Rates This Week : February 27, 2012

2012-02-27T06:36:00.001-08:00

Mortgage markets improved in a holiday-shortened week last week, drawing mortgage rates lower throughout Washington, DC and nationwide. Few new economic releases reached the markets, but those that did suggested recovery -- especially with respect to housing and

Existing Home Sales Climb To A 20-Month Record

2012-02-23T06:02:00.001-08:00

January's home resales moved to a 20-month high -- additional evidence that the nation's housing recovery is underway. According to the National Association of REALTORS®, the January 2012 Existing Home Sales showed 4.57 million units sold last month on a

Foreclosure Filings Down 19 Percent In One Year

2012-02-22T06:05:00.001-08:00

Foreclosure filings fell 19 percent last month versus one year ago, says foreclosure-tracking firm RealtyTrac. It's yet one more signal that the U.S. housing market may have already climbed off its bottom. According to RealtyTrac, a "foreclosure filing" is any one

What's Ahead For Mortgage Rates This Week : February 21, 2012

2012-02-21T08:25:00.001-08:00

Mortgage markets worsened last week as the Eurozone moved closer to a bailout agreement with Greece, and the U.S. economy displayed more signs of growth. In response, mortgage rates climbed last week. Rate shoppers should not be surprised that rates ticked north.

Housing Starts Stay Strong; Building Permits Rise.

2012-02-17T06:07:00.001-08:00

The housing market has carried forward its year-end momentum. According to the Census Bureau, on a seasonally-adjusted, annualized basis, January's Single-Family Housing Starts crossed the half-million unit marker for the second straight month. This hasn't happened

Homebuilder Confidence Returns To Pre-Recession Levels

2012-02-16T06:09:00.001-08:00

New construction buyers in Bethesda , look out. The nation's home builders are predicting a strong 2012 for new home sales. It may mean higher home prices as the spring buying season approaches. For the sixth straight month, the National Association of Homebuilders

With Retail Sales And Consumer Confidence Rising, Home Prices Are Expected To Follow

2012-02-15T06:12:00.001-08:00

The U.S. economy continues to show signs of a rebound. According to the Census Bureau, Retail Sales climbed to $329 billion last month on a seasonally-adjusted basis, excluding automobiles. January's data marks the 18th time in 19 months that Retail Sales rose, a

Fewer Jobless Claims Suggests Higher Home Prices Ahead

2012-02-14T06:10:00.001-08:00

Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they're right, the housing market is ripe for a boost. It spells good news for Rockville home sellers and may mean the end of bargain-basement prices for buyers. Since

What's Ahead For Mortgage Rates This Week : February 13, 2012

2012-02-13T06:42:00.001-08:00

Mortgage markets were mostly unchanged last week as Greece -- once again -- was front-of-mind for Wall Street investors. The nation-state is attempting to avoid a debt default, and has been attempting to avoid default since May 2010. Early in the week, Greece reached

What's Ahead For Mortgage Rates This Week : February 13, 2012

2012-02-13T06:31:00.001-08:00

Revamped HARP : Unlimited Loan-to-Value And Same Great Rates

2012-02-10T06:00:00.001-08:00

The government's new, revamped HARP program is 6 weeks from release. Homeowners in MD and nationwide are gearing up to refinance. HARP is an acronym. It stands for Home Affordable Refinance Program. HARP is the government's loan product for "underwater homeowners".

Quick Tips : Boost Your Credit Score For Better Mortgage Rates

2012-02-09T05:58:00.001-08:00

Credit scores play a huge role in today's mortgage market -- larger than at any time in recent history. Blame it on the high default rates of the last half-decade. Lenders are reserving their lowest rates for the customers most likely to make on-time

Federal Tax Deadline Extended To April 17, 2012

2012-02-08T06:02:00.001-08:00

Traditionally, federal income taxes must be filed with the IRS on, or before, April 15 each year. The date has become such a part of U.S. culture that many people simply call it "Tax Day". This year, however, for the 3rd time in 7 years, your federal income taxes

Lock An Instant 13% Savings On Your Monthly Mortgage Payment

2012-02-07T05:58:00.001-08:00

Falling mortgage rates make owning a home more affordable. Mortgage rates are directly tied to monthly mortgage payment so as mortgage rates drop, so does the cost of home-ownership. It's a money-saving time to buy a home in Rockville -- or to refinance one.

What's Ahead For Mortgage Rates This Week : February 6, 2012

2012-02-06T06:22:00.001-08:00

Mortgage markets worsened last week as domestic job growth surprised Wall Street and the Eurozone moved yet one more step closer to reaching a lasting Greece sovereign debt solution. Conforming mortgage rates in DC rose on the news, although you wouldn't know it from

Banks Start To Loosen Up In Underwriting

2012-02-03T05:58:00.001-08:00

After a half-decade of tightening mortgage guidelines, banks are starting to "loosen up". The Federal Reserve conducts a quarterly survey of its member banks and, last quarter, not a single responding bank reported having tightened its mortgage guidelines for prime

Home Affordability Threatened By Friday's Jobs Report

2012-02-02T05:55:00.001-08:00

This week, once more, we find mortgage rates are on a downward trajectory. Conforming mortgage rates have returned to near all-time lows. After Friday morning's Non-Farm Payrolls report, however, those low rates may come to an end. It's a risky time for MD home

Case-Shiller Index Says Detroit And Washington DC Lead The Market

2012-02-01T05:58:00.001-08:00

Standard & Poors released its November 2011 Case-Shiller Index this week. The index measures the change in home prices from month-to-month, and year-to-year, in select U.S. cities. According to the data, for the second straight month, home values fell in 19 of the

Supply Of New Homes At 6.1 Months Nationwide

2012-01-31T05:57:00.001-08:00

New Home Sales slowed into the New Year but the market for newly-built homes remains strong. For home buyers in DC and nationwide, December's New Home Sales report is yet one more signal that the housing market recovery may be underway. According to the Census

What's Ahead For Mortgage Rates This Week : January 30, 2012

2012-01-30T06:20:00.001-08:00

Mortgage markets improved last week as news from the Federal Reserve, the U.S. economy, and Europe combined to spur new demand for mortgage-backed bonds. Conforming mortgage rates rallied from Wednesday through Friday's close, ending the week near all-time lows set

Pending Home Sales Index Posts Second Best Month Since April 2010

2012-01-27T06:00:00.001-08:00

After 3 consecutive months of growth, the housing market appears to have eased a bit in December. According to the National Association of REALTORS®, December's Pending Home Sales Index slipped 4 percent from the month prior. The index measures the number of homes

A Simple Explanation Of The Federal Reserve Statement (January 25, 2012)

2012-01-25T10:05:00.001-08:00

Wednesday, the Federal Reserve's Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The Fed Funds Rate has been near zero percent since December 2008. For the third consecutive month, the

The Federal Reserve Meets Today : Mortgage Rates Expected To Move

2012-01-25T05:58:00.001-08:00

The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of 8 scheduled meetings this year. The FOMC is a designated, rotating, 12-person committee within the Federal Reserve, led by Federal Reserve Chairman Ben Bernanke. Members of

Existing Home Sales Approach Bull Market Territory

2012-01-24T05:58:00.001-08:00

The housing market finished 2011 with strength, and is carrying measurable momentum into 2012. According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December's Existing Home Sales climbed by 120,00 units overall

What's Ahead For Mortgage Rates This Week : January 23, 2012

2012-01-23T06:26:00.001-08:00

The outlook for the U.S. economy improved last week, taking the mortgage bond market with it. For the first time this year, conforming mortgage rates rose throughout MD from one week to the next. Data was strong across all categories last week. Home Resales :

Behind The Housing Starts Headlines, The Story That Matters

2012-01-20T05:59:00.001-08:00

When it comes to housing data, sometimes you have to look past the headlines. December's Housing Starts data offers a terrific illustration of why. Each month, the Census Bureau tallies Housing Starts for the month prior. A "housing start" is a home on which

Home Builders See More Sales, Higher Prices Ahead

2012-01-19T05:57:00.001-08:00

Homebuilder confidence is soaring. For the fourth straight month, the National Association of Homebuilders reports an increase in its Housing Market Index. The index climbed 4 points to 25 this month -- its second four-point gain since October. With home sales

Foreclosure Filings Fall To 49-Month Low

2012-01-18T05:57:00.001-08:00

Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac. In December 2011, the number of foreclosure filings nationwide fell 9 percent from the month prior. Not since November 2007 has foreclosure activity been this sparse across

Friday's Jobs Report Represents A Big Risk To Low Mortgage Rates

2011-12-01T07:06:00.001-08:00

Have you been floating a mortgage rate? It may be time to lock. At 8:30 AM ET Friday, the government's Bureau of Labor Statistics will release its November Non-Farm Payrolls report. Better known as "the jobs report", the monthly Non-Farm Payrolls figures provide

New Home Supplies Fall To An 18-Month Low

2011-11-29T06:03:00.001-08:00

If you plan to buy of new construction in MD sometime in 2012, don't expect today's low prices. Like everything in housing of late, the market for newly-built homes appears to be stabilizing and, in some markets, improving. As foreshadowed by this month's strong

What's Ahead For Mortgage Rates This Week : November 28, 2011

2011-11-28T06:23:00.001-08:00

Mortgage markets worsened slightly last week through a bouncy, holiday-shortened trading week. Markets were closed Thursday for Thanksgiving and re-opened only briefly Friday. As in past weeks, though, economic, political, and financial news from the Eurozone

Conforming Loan Limits Unchanged For 2012

2011-11-25T05:57:00.001-08:00

A conforming mortgage is one that, literally, conforms to the mortgage guidelines as set forth by Fannie Mae and Freddie Mac. Conforming mortgage guidelines are Fannie's and Freddie's eligibility standards; an underwriter's series of check-boxes to determine

More Sales, Less Inventory : Home Prices Headed Higher?

2011-11-23T05:59:00.001-08:00

The housing market continues to signal that a broad rebound is underway. In October, despite sparse home inventory, the number of properties sold increased 1.4% nationwide. According to data from the National Association of REALTORS®, on a seasonally-adjusted,

Maximum FHA Loan Limits Restored To $729,750

2011-11-22T05:59:00.001-08:00

After a brief return to lower, pre-2009 levels, FHA loan limits have been restored. As signed into law last Friday, maximum FHA loan limits are -- once again -- as high as $729,750. The move creates additional mortgage financing possibilities in more than 650 U.S.

What's Ahead For Mortgage Rates This Week : November 21, 2011

2011-11-21T06:17:00.001-08:00

Mortgage markets went unchanged last week as Wall Street traded on new debt stress within the Eurozone, and stronger-than-expected economic data here at home. Rates moved very little from Monday to Friday and the storyline's not expected to change much this week for

Housing Starts Rising; New Construction Turns The Corner?

2011-11-18T05:58:00.001-08:00

Another day, another signal that the market for newly-built homes is improving. Single-Family Housing Starts rose to a seasonally-adjusted, annualized 430,000 units in October – a 4 percent increase from September and the highest reading in 3 months. A "Housing Start

Homebuilders Getting Optimistic; Higher Home Prices Ahead?

2011-11-17T05:59:00.001-08:00

Homebuilder confidence continues to rise. Just two months after falling to a multi-month low, the Housing Market Index surged again in November, climbing another three points to 21. It's the second straight month that the HMI posted a 3-point gain, catapulting the

Government Releases Additional HARP Guidance For Underwater Homeowners

2011-11-16T05:55:00.001-08:00

Tuesday, Fannie Mae and Freddie Mac unveiled lender instructions for the government's revamped HARP program, kick-starting a potential refinance frenzy across VA and nationwide. HARP stands for Home Affordable Refinance Program. The updated program is meant to give

Foreclosure Filings Climbing; 4 States Account For Half Of Nationwide Activity

2011-11-15T05:57:00.001-08:00

Foreclosed homes are a hot market throughout VA -- and supplies are ramping up. According to foreclosure-tracking firm RealtyTrac, October's foreclosure filings rose 7 percent to 231,000 filings nationwide. A "foreclosure filing" is any one of the following

What's Ahead For Mortgage Rates This Week : November 14, 2011

2011-11-14T06:00:00.001-08:00

Amid a dearth of new U.S. economic data, Eurozone developments led mortgage markets down in last week's holiday-shortened trading week. Mortgage rates across DC worsened slightly, increasing week-over-week for the first time in a month. Freddie Mac reports the

Banks Resume Tightening Mortgage Guidelines

2011-11-10T05:57:00.001-08:00

As part of its quarterly survey to member banks nationwide, the Federal Reserve asked senior loan officers whether last quarter's "prime" residential mortgage guidelines have tightened, loosened, or remained as-is. A "prime" borrower is defined as one with a

This Holiday Season, Think Twice Before Saving 15 Percent At The Register

2011-11-09T05:59:00.001-08:00

With Halloween behind us, retailers are in the Holiday Spirit. Businesses know that consumers spent a median $556 on holiday gifts last year and they want this year to be just as strong. That's why it's barely November and, already, Black Friday ads clog our

Tips For Maximizing Your Home's Appraised Value

2011-11-08T06:04:00.001-08:00

A home appraisal is an independent opinion of your home's value, performed by a licensed home appraiser. Appraisals are part of the traditional home purchase process, and lenders require them for most refinances, too. Appraisers are trained professionals. First, they

What's Ahead For Mortgage Rates This Week : November 7, 2011

2011-11-07T05:57:00.001-08:00

Mortgage markets improved last week as optimism for a Greek Bailout program faded, triggering a global flight-to-quality assets. Fear of a Eurozone rift outweighed positive economic remarks from the Federal Open Market Committee and an in-line U.S. jobs report.

The Most Expensive ZIP Codes In The Country (2011 Edition)

2011-11-04T06:02:00.001-07:00

In the housing market, amenities and location have as much to do with a home's value as the everyday forces of supply-and-demand. Whereas the latter causes home values to rise and fall over time, the former creates a starting point for said values. Where you live --

A Simple Explanation Of The Federal Reserve Statement (November 2, 2011 Edition)

2011-11-02T10:31:00.001-07:00

Wednesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was nearly unanimous, with just one dissenting voter. There were 3 dissenters at each of the FOMC's last two

A Mortgage Rate Strategy Ahead Of Friday's Jobs Report

2011-10-06T06:03:00.001-07:00

Mortgage rates are prepped to make big moves in the next 36 hours. Is it time for you to call in your rate lock? Friday, at 8:30 AM ET, the Bureau of Labor Statistics will release the Non-Farm Payrolls report for September. Issued monthly, the "jobs report" offers

Home Values Rose For the 4th Straight Month

2011-10-05T06:01:00.001-07:00

The government is confirming what the private sector has already shown -- home values are on the rise. The Federal Home Finance Agency's Home Price Index shows home values rose 0.8% in July. July marks the fourth straight month that home values climbed and the

Conforming Loan Limits Drop In High-Cost Areas

2011-10-04T06:05:00.001-07:00

For homeowners in high-cost areas nationwide, conforming and FHA loan limits have dropped by as much as 14 percent. Effective October 1, 2011, the temporary mortgage loan limits that allowed for non-jumbo loan sizes of up to $729,750 are no longer. $729,750 is above

What's Ahead For Mortgage Rates This Week : October 3, 2011

2011-10-03T06:35:00.001-07:00

Mortgage markets deteriorated last week as optimism for a Greek rescue package increased, and as U.S. consumers showed that, despite falling income levels, spending will not be slowed. As reported by the government, household income dropped in August, falling 0.1

Despite Low Rates, Pending Home Sales Slip In August

2011-09-30T06:05:00.001-07:00

Despite the lowest mortgage rates of all-time, home buyers are slowing the pace at which they're buying homes. According to the National Association of REALTORS®, on a seasonally-adjusted basis, the Pending Home Sales Index fell 1 percent in August. The Pending Home

Case-Shiller Index : 85% Of Tracked Cities Showed Home Price Improvement In July

2011-09-29T06:11:00.001-07:00

Standard & Poors released its monthly Case-Shiller Index this week. The Case-Shiller Index measures home price changes from month-to-month, and year-to-year, in 20 select U.S. cities. It also reports a "national" index; a composite of the values in said cities. The

New Home Sales Figures Better Than Reported

2011-09-28T06:04:00.001-07:00

According to the Census Bureau, the number of new homes sold slid for the fourth straight month in August, easing 2 percent from July. On a seasonally-adjusted, annualized basis, home buyers bought 295,000 newly-built homes last month. August marked the lowest new

Existing Home Sales Jump; Home Supplies Falling

2011-09-27T06:18:00.001-07:00

Are home resales rebounding? According to the National Association of REALTORS®, Existing Home Sales rose 8 percent in August from the month prior, and 19 percent as compared to August of last year. "Existing homes" are homes that are previously owned; ones that

What's Ahead For Mortgage Rates This Week : September 26, 2011

2011-09-26T06:25:00.001-07:00

Mortgage markets improved last week as the Federal Reserve provided new market stimulus and the Eurozone continued to grapple with Greek's sovereign debt issues. Conforming mortgage rates fell in VA last week overall, dropping for the second straight week. For rate

Building Permits Rising Nationwide; Housing Starts To Follow

2011-09-23T06:04:00.001-07:00

Single-Family Housing Starts fell for the second consecutive month, dropping to a seasonally-adjusted, annualized 417,000 units in August 2011. A "Housing Start" is defined as a home on which ground has broken. We shouldn't put too much faith in the findings, however

A Simple Explanation Of The Federal Reserve Statement (September 21, 2011 Edition)

2011-09-21T12:12:00.001-07:00

Wednesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was 7-3 -- the second straight meeting at which the FOMC adjourned with as many 3 dissenters. Prior to that last

A Simple Explanation Of The Federal Reserve Statement (September 21, 2011 Edition)

2011-09-21T11:59:00.001-07:00

The Fed Adjourns At 2:15 PM ET Today : What It Means For Mortgage Rates

2011-09-21T06:05:00.001-07:00

The Federal Open Market Committee adjourns from a two-day, scheduled meeting today, the sixth of 8 scheduled meetings this year, and the seventh Fed meeting overall. The FOMC is a designated, 12-person committee within the Federal Reserve, led by Fed Chairman Ben

What's Ahead For Mortgage Rates This Week : September 19, 2011

2011-09-19T06:05:00.001-07:00

Mortgage bonds worsened last week as Eurozone default fears eased abroad, and expectations for a domestic stimulus increased. Mortgage rates rose for the first time in three weeks last week, pushing conforming and FHA mortgage rates in VA off their all-time,

Choosing A 15-Year Fixed Rate Mortgage Over A 30-Year Fixed Rate Mortgage

2011-09-16T06:04:00.001-07:00

It's not just 30-year fixed rate mortgages that are posting all-time lows these days. The 15-year mortgage has been plunging, too. If you've ever considered a 15-year loan term, it's a terrific time to talk to your lender. According to Freddie Mac's weekly mortgage

Annual Foreclosure Filings Down For 11th Straight Month

2011-09-15T06:03:00.001-07:00

On an annual basis, foreclosure filings fell last month. As compared to August 2010, last month's foreclosure filings dropped 33 percent. "Foreclosure filing" is a catch-all term, comprising default notices; scheduled auctions; and bank repossessions. The study was

Capitalize On Low Interest Rates In Overlooked Places

2011-09-14T06:04:00.001-07:00

It's no secret. Rates are low right now. And, it's not just mortgage rates, either -- all types of rates are scraping rock-bottom. Borrowing rates, lending rates and savings rates are at or near their all-time lowest levels. As a homeowner in Rockville ,

Adjustable-Rate Mortgages Starting To Adjust Higher

2011-09-13T06:04:00.001-07:00

For the first time in a year, homeowners with adjusting mortgages are facing rising mortgage rates. The interest rate by which many adjustable-rate mortgages adjust has climbed to its highest level since September 2010, and looks poised to reach higher. This is

What's Ahead For Mortgage Rates This Week : September 12, 2011

2011-09-12T06:02:00.001-07:00

Mortgage markets improved last week as a weakening Eurozone and questions about the U.S. economy sparked a global flight-to-quality. Conforming and FHA mortgage rates improved for the second week in a row. The storylines should sound familiar by now. They are the

Home Affordability Still Tops Nationwide

2011-09-09T06:01:00.001-07:00

Home affordability slipped slightly last quarter, dragged down by rising mortgage rates and recovering home prices in DC and nationwide. The National Association of Home Builders reports a Q2 2011 Home Opportunity Index reading of 72.6. This means that nearly 3 of 4

After A Pause, Mortgage Guidelines Resume Tightening

2011-09-08T06:03:00.001-07:00

Mortgage guidelines appear to be tightening with the nation's largest banks. In its quarterly survey to senior loan officers nationwide, the Federal Reserve uncovered that a small, but growing, portion of its member banks is making mortgage approvals more scarce for

As Jobs Tally Fades, Mortgage Rates Fall

2011-09-07T06:01:00.001-07:00

The U.S. economy is no longer adding new jobs. Last Friday, in its monthly Non-Farm Payrolls report, the Bureau of Labor Statistics reported that the U.S. economy added exactly zero new jobs in August as the national Unemployment Rate held steady at 9.1 percent.

What's Ahead For Mortgage Rates This Week : September 6, 2011

2011-09-06T06:14:00.001-07:00

Mortgage markets improved last week on a weak jobs report, expectation for new market stimulus, growing evidence of a global economic slowdown. Rates were especially volatile, too, with the long Labor Day Weekend looming. Overall, conforming mortgage rates in MD

Home Values Rose In June 2011

2011-09-02T06:00:00.001-07:00

Has housing turned the corner for good? The June 2011 Case-Shiller Index reading posted strong numbers across the board, with each of the index's 20 tracked markets showing home price improvement from May. Some markets -- Chicago and Minneapolis -- rose as much as

With The Jobs Report Looming, Mortgage Rates May Rise

2011-09-01T06:02:00.001-07:00

If you're shopping for a mortgage rate, today may be a good day to lock one down. That's because Friday morning, the Bureau of Labor Statistics will release its Non-Farm Payrolls report for August 2011. The "jobs report" tends to have a big influence on mortgage

Fed Minutes : Fed Considered Additional Stimulus In August

2011-08-31T06:03:00.001-07:00

The Fed publishes meeting minutes 8 times annually -- three weeks after each scheduled Federal Open Market Committee get-together. The Fed Minutes summarizes the FOMC meeting. The Federal Reserve released the minutes from its August 9, 2011 Federal Open Market

Pending Home Sales Slip In July; Creates Buyer Opportunity

2011-08-30T06:06:00.001-07:00

After 3 straight months of gains, the Pending Home Sales Index slipped 1 percent in July. The monthly report is published by the National Association of REALTORS® and measures the number of home under contract to sell nationwide. The Pending Home Sales Index is

What's Ahead For Mortgage Rates This Week : August 29, 2011

2011-08-29T06:38:00.001-07:00

Last week was another volatile week for mortgage rates. Wall Street alternately sought risk and shunned it, causing mortgage-backed bonds to rise and fall rapidly. There was a lot to move markets, too, including banking concerns across Europe, inflation figures

Mortgage Rates Bounce Off All-Time Lows; The Start Of A Trend?

2011-08-26T06:20:00.001-07:00

Low mortgage rates are terrific -- if you can get them. One week after posting its lowest mortgage rate in 50 years, Freddie Mac reports that the 30-year fixed rate mortgage rose by an average of 7 basis points nationwide this week to 4.22%. To get the rate, you'll

Ranking The Best Places To Live In The U.S. (2011 Edition)

2011-08-25T06:33:00.001-07:00

CNNMoney recently released its Best Places To Live 2011 list. The annual survey is based on data from Onboard Informatics. Using Quality of Life factors such as education, crime and "town spirit", and focusing on towns with between 8,500 and 50,000 residents, the

New Home Supplies Remain Flat; Builders Not Over-Extending

2011-08-24T06:17:00.001-07:00

Sales of newly-built homes slipped in July, falling 1 percent as compared to June. Home buyers closed on a seasonally-adjusted, annualized 298,000 units, the lowest reading since February. The supply of new homes, however, remained flat. July's 6.6 months of supply

Existing Home Sales Slip In July

2011-08-23T06:15:00.001-07:00

Home resales slipped in July. According to the National Association of REALTORS®, Existing Home Sales nationwide fell to 4.67 million units on a seasonally-adjusted annualized basis last month. It's the fourth straight month below the 5 million mark, and the report's

What's Ahead For Mortgage Rates This Week : August 22, 2011

2011-08-22T06:41:00.001-07:00

Mortgage markets improved again last week, pushing mortgage rates in VA to an all-time low; lower than the lows set last November, even. Last week's low mortgage rate drivers are primarily European. Joining the debt concerns that have dogged Europe since March, a

Mortgage Rates Don't Move With The Fed Funds Rate

2011-08-19T06:05:00.001-07:00

Last week, at its 5th scheduled meeting of the year, the Federal Open Market Committee voted to leave the Fed Funds Rate in its target range near zero percent. The Fed Funds Rate has been near zero percent since December 2008 and, in its official statement, the FOMC

What Perks Does Your Favorite Credit Card Offer?

2011-08-18T06:13:00.001-07:00

Last week, the Federal Reserve pledged to leave the Fed Funds Rate near 0.000 percent until at least mid-2013. For credit card holders in DC who carry a monthly balance, this is good news. Because of the Fed's call, credit card rates are unlikely to rise

Housing Starts Tick Lower; Building Permits Tick Higher

2011-08-17T06:11:00.001-07:00

Single-Family Housing Starts fell to a seasonally-adjusted, annualized 425,000 units in July, according to the Census Bureau. A "Housing Start" is defined as a home on which construction has started and ground has broken. Furthermore, Single-Family Housing Starts

Homebuilders Expect A Soft Winter Housing Market

2011-08-16T05:58:00.001-07:00

Two months after posting their worst confidence reading of 2011, home builders say they foresee no improvement in the immediate- or medium-term market for new homes nationwide. In August, for the second straight month, the Housing Market Index read 15. The HMI is a

What's Ahead For Mortgage Rates This Week : August 15, 2011

2011-08-15T06:24:00.001-07:00

Mortgage markets improved again last week. The combination of global economic uncertainty plus a dour outlook from the Federal Reserve pushed mortgage bonds to highs for 2011, and drove mortgage rates below their all-time lows. Bonds were volatile, driven by the

Foreclosures Sink To 4-Year Low

2011-08-12T06:03:00.001-07:00

Foreclosure activity continues to slow. According to RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings nationwide fell 35 percent as compared to July 2010, a statistic suggesting that the housing market continues to improve. "

Strong Job Growth In July Trumped By Credit Downgrade

2011-08-11T06:06:00.001-07:00

More Americans are getting back to work. The latest Non-Farm Payrolls survey from the Bureau of Labor Statistics shows that 117,000 net new jobs were created in July, thumping analyst estimates and surprising Wall Street investors. In addition, May and June's

A Simple Explanation Of The Federal Reserve Statement (August 9, 2011 Edition)

2011-08-09T12:02:00.001-07:00

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was 7-3 — the first time in 5 meetings that the nation's Central Bank was non-unanimous and the first time since

What's Ahead For Mortgage Rates This Week : August 8, 2011

2011-08-08T07:17:00.001-07:00

Mortgage markets were especially volatile last week, taking rate shoppers in MD on a roller-coaster ride. The week's news schedule was full. It included debt ceiling debates, jobs figures, and ongoing maneuverings within the Eurozone. Each story a material impact on

Mortgage Rates Make New 2011 Lows

2011-08-05T06:04:00.001-07:00

Mortgage rates in VA plunged to new 2011 lows this week. According to Freddie Mac's weekly Primary Mortgage Market Survey, the national, average 30-year fixed rate mortgage fell to 4.39% this week -- the lowest 30-year fixed reading since November 18, 2010. The

Closing At The Start Of September? Watch Out For Labor Day.

2011-08-04T06:02:00.001-07:00

Home sales have heated up, according to the National Association of REALTORS®. More homes are going under contract this summer than went during the winter or spring seasons. Many of these homes are scheduled for late-August/early-September closings. If your home is

A Mortgage Rate Strategy For July's Jobs Report

2011-08-03T06:05:00.001-07:00

At 8:30 AM ET Friday, the Bureau of Labor Statistics will release the July 2011 Non-Farm Payrolls report. Mark it in your calendar. If you've been watching mortgage rates fall to new all-time lows this week and fear a mortgage rate reversal, Friday could be the day.

What Will The Debt Ceiling Agreement Do To Mortgage Rates?

2011-08-02T05:59:00.001-07:00

The United States is projected to reach its legal $14.294 trillion debt limit today. The limit was set by Congress February 12, 2010. The U.S. Treasury may not issue new debt beyond the debt ceiling. Since April 2011, Congress has debated ways to remain below the

What's Ahead For Mortgage Rates This Week : August 1, 2011

2011-08-01T06:09:00.001-07:00

Mortgage markets improved last week as the U.S. debt ceiling debate continued on Capitol Hill. Bonds traded in a range Monday through Thursday before breaking higher Friday morning. 30-year fixed conforming mortgage rates improved in DC last week, falling to levels