Statistics Don't Sell Homes - You Do

Last week, the Federal Reserve raised its funds rate by a quarter of a point - and mortgage rates shrugged off the news and decided to head lower rather than going higher. As you've read in these pages before, this shouldn't be a surprise. The movement of mortgage rates is based on much more than what the Fed does or doesn't do, not to mention that the markets anticipate these kinds of moves and "bake them in" before they happen (and this hike was previously telegraphed). What happens to mortgages in the long term remains to be seen because of those other factors and the Fed's policymakers pro...

June 15th, 2017 Statistics Don't Sell Homes - You Do

Keeping Sellers Happy

Today's sellers can be anxious about what the market will hold. Once a homeowner has made the decision to sell, though, they are ready for you to lead them through to the end. Today's sellers expect to be involved in the selling process. They stay up-to-the-minute in every other aspect of their life and accept nothing less from you. They get Facebook updates on the latest activities of their friends. Family members instant message and email them with news and questions. CNN and other media outlets post the latest real time news from around the globe. They can even get the latest news and even...

June 15th, 2017 Keeping Sellers Happy

The Weekly Mortgage Commentary

This extremely busy week brings us the release of six pieces of economic data that are relevant to mortgage rates along with a couple of Treasury auctions. However, the theme of the week will be Fed-related with an FOMC meeting, economic forecasts and a press conference with Fed Chair Janet Yellen mid-week. With this much important data and these Fed events coming in the same week, there is little doubt that we will have an active week for the financial and mortgage markets. The two relevant Treasury auctions will take place Monday and Tuesday. 10-year Treasury Notes will be sold Monday while ...

June 12th, 2017 The Weekly Mortgage Commentary

Three Important Responsibilities Home Buyers Have

The American dream of owning a home is something everyone should have if they want it. You should be able to live where you want and enjoy the features of your environment that help you relax, entertain, play, and do more of the things you enjoy without the restrictions imposed by a landlord. You can own a pet, build a treehouse, paint the walls your favorite color, and play music and videos as loud as you like without disturbing your neighbors. That’s the essence of the dream — independence. For most first-time buyers, it’s better to accept that for dreams to come true, you ...

June 8th, 2017 Three Important Responsibilities Home Buyers Have

The Weekly Mortgage Commentary

This week is very light with only two pieces of monthly or quarterly economic data that are relevant to mortgage rates and they both come Monday morning. None of this week's data is considered to be highly important, meaning that we may see a relatively calm week for mortgage rates if comparing to last week. Revised 1st Quarter Productivity and Costs data will be posted early Monday morning. This data measures employee output and employer costs for wages and benefits. It is considered to be moderately important because it helps us measure wage inflation. Many analysts believe that the economy ...

June 5th, 2017 The Weekly Mortgage Commentary

Inspect Yourself - Prepping Your Home for Inspection

You wouldn't go on a first date or an important job interview with a stained shirt, un-coiffed hair and not having brushed your teeth. The same rules apply when you are selling your house, especially when it comes to the inspection. The buyer's inspector is getting paid to ensure that your house has no defects and to find them if they exist. While there will always be something he or she finds that you didn't expect or know about, you can be one step ahead of the game - and avoid the "big surprises" - by performing your own pre-sale preparations for the inspector's knock at your door. Cut the...

June 5th, 2017 Inspect Yourself - Prepping Your Home for Inspection

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