Mortgage Refinance Trends: New Wave Spurs 6-Week High Demand.
It looks like there’s a “mini-wave” of mortgage refinancing that’s been pushing the rate of applications up to a six week high. But the home buyer tax credit doesn’t expire until the end of April, and that doesn’t apply to refinancing anyway, so why the rush?
The rush may be due to the anticipated end to [...]
New Home Sales Down 7.6% In December.
According to this article from the AP, new home sales fell 7.6% last month.
The Commerce Department said December sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December.
It’s mildly surprising given that the home [...]
3 Ways to Know the Economy is Ready to Rebound.
1. Business sentiment is up!
When business sentiment is up, employers hire. When people get jobs, they have more income and buy more stuff. It’s that simple. Watch for the Institute for supply management’s (ISM) latest Non-Manufacturing ROB report
You want to see an index of 50 or more, that stays for a couple of months. As [...]
5 Reasons Why a Home is (Still) a Great Investment.
Ryan over at the Debt Reduction Formula blog asks the age old question of Rent or Buy. He’s looking for opinions on a specific scenario - a choice between buying house A or renting house B.
Few people would have argued that buying a home was a bad investment during 2005-2006, but with the [...]
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