Monthly Archives: January 2010

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy “has continued to strengthen”, that the jobs markets is getting … Continue reading →

The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It’s the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. As is customary, upon adjournment, the Fed … Continue reading →

Just one month after from blowing away Wall Street, December’s Existing Home Sales hit the skids, shedding nearly 17 percent and falling to a 4-month low. Don’t be alarmed, though. The plunge was expected. And not just because Pending Home … Continue reading →

Conforming and FHA mortgage rates improved last week on the combination of weaker-than-expected economic data and new anti-banking rhetoric from the White House. The S&P 500 shed nearly 4 percent in its worst weekly showing since October 2009 as all … Continue reading →

A “Housing Start” is a privately-owned home on which construction has started. It’s an important gauge of housing health because it tracks new housing stock nationwide. In December 2009, starts fell by nearly 7 percent. The news is mildly disappointing … Continue reading →

Securing an FHA mortgage is about to get more expensive. In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group’s portfolio risk while … Continue reading →

November 6, 2009, Congress voted to extend and expand the First-Time Home Buyer Tax Credit program. There’s 100 days left to claim it. The expiration date of the up-to-$8,000 tax credit has been pushed forward to spring, requiring homebuyers to … Continue reading →

Mortgage markets showed little conviction last week, carving out just a narrow trading channel. There was very little data on which for markets to move, leaving mortgage rates momentum-bound. Luckily for rate shoppers, mortgage rate momentum was favorable. Rates were … Continue reading →

Mortgage rates are dropping this morning on weaker-than-expected Retail Sales data from December. Lower rates means more bang for your home-buying buck. Excluding motor vehicles and parts, December’s “ex-auto” sales receipts were down roughly $500 million from November. Analysts had … Continue reading →

Like real estate, it appears that foreclosure activity is a local phenomenon, too. As reported by RealtyTrac.com, more than half of all foreclosure-related activity in 2009 came from just 4 states: California Florida Arizona Illinois More than 1.4 million filings … Continue reading →