ARCHIVED BLOG POSTS
2012
In Washington, D.C. today, the Federal Open Market Committee (FOMC) begins a 2-day meeting, its fifth of 8 scheduled meetings this year. Mortgage rates are expected to change upon the FOMC’s adjournment. Rate shoppers and home buyers of Minneapolis would do well to be alert. The Federal Open Ma...
07/31/2012
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Another week, another new low for mortgage rates. According to Freddie Mac’s weekly Primary Mortgage Market Survey, the 30-year fixed rate mortgage rate fell 3 basis ...
07/24/2012
Home resales slipped more than 5 percent last month, putting a damper recent housing market enthusiasm. According to the National Association of REALTORS®, Existing Home Sales fell to 4.37 million units in June 2012 on a seasonally-adjusted, annualized basis. This is 250,000 fewer home sales per...
07/20/2012
Single-Family Housing Starts Rise For 4th Straight Month New construction housing is in a post-recession rally. As reported by the Census Bureau, on a seasonally-adjus...
07/19/2012
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Home Purchasing Power Jumps To New Highs With mortgage rates down to all-time lows, you can buy a lot more home for your money. Home affordability is at an all-time high. According to last week’s Freddie Mac mortgage rate survey, the average 30-year fixed rate mortgage has dropped to 3.62% nati...
07/11/2012
30-year fixed rate mortgage rates made new, all-time lows once again this week. According to Freddie Mac’s weekly mortgage rate survey of more than 125 banks nationwide, the average 30-year fixed rate mortgage rate fell 4 basis point to 3.62% nationwide. The rate is available to conforming, prime...
07/06/2012
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Homes are going under contract at a quickening pace. In May, for the second time in 3 months, the Pending Home Sales Index crossed the 100 barrier, stretching to 101.1. A “pending home sale” is a home under contract to sell, but not yet sold. Statistically, the Pending Home Sales Index reading is...
07/03/2012
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Bob Elliot
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