The President of the Federal Reserve Bank of Kansas City thinks “it’s time” for the U.S. central bank to raise short-term interest rates to reflect solid improvements in the economy. The current level of near zero short-term rates, set at emergency levels to deal with...
She mentions that payments at $72 higher on a $200,000 loan, which, in higher-priced areas, translates to $288 higher on a $800,000 mortgage.
We've been enjoying a statistical exuberance that is somewhat misguided. The latest Case-Shiller Index was the March reading, which includes sales data from the previous two months too. Our recent local data has been looking strong as well, with both April and May...
Shiller takes a shot at Californians in the video below: The U.S. Federal Reserve should consider lifting interest rates sooner rather than later to tackle speculative bubbles in the housing and stock markets, Nobel Prize-winning economist Robert Shiller told CNBC on...
Last week we saw the recent NSDCC sales history - how does it compare to previous years? Here are the sales stats from the first four months of each year, going back to the beginning of the 2-out-of-5-year capital-gains tax exclusion - which helped trigger the ensuing...
We have significant turbulence in the bond market this week, and most think it can't get any worse. The jobs report tomorrow will probably dictate the next movement, but for now the 30-year mortgage rates are around 4%. If rates go above 4%, is it nervous time? Not...
Mortgage rates are known to rise without much notice - if any! From MND: http://www.mortgagenewsdaily.com/consumer_rates/469946.aspx Mortgage rates are having a rough couple of weeks. Yesterday saw rates approach the previous 2015 highs set on March 6th. Today's...
The NSDCC sales count for April exceeded last year's number, and prices were slightly higher too. But the rate of price change has slowed considerably, and if rates bump significantly higher, we should see the market stall out. NSDCC Sales for April Year # of Sales...
Yesterday some Wells Fargo guys urged the Fed to raise rates: http://www.mortgagenewsdaily.com/04132015_fed_monetary_policy.asp Today Wells reported they made $49 billion in home loans in 1Q15, which is 36% higher than last year:...
A big difference between today and the bubble years is the type of financing being used. Back when the Tan Man was pushing exploding ARMs, more than 70% of the buyers took him up on it - today, more than 80% are choosing a fixed rate mortgage: Plus, those who get...
