• Characterized by bright colors, woven fabrics and handcrafted pieces, southwestern-style decorating takes influences from Native American, Spanish and Mexican art. Whether you live out west and want your home to reflect your surroundings, or you simply want to incorporate colorful or handmade items into your existing decor, here are some tips to help you...

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  • A new phenomenon is affecting the mortgage and real estate industries. People who bought a home or refinanced in the last few years have such a ridiculously low mortgage rate that they don’t want to move and have to accept a new mortgage with a higher rate. But the reality is that these people...

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  • This post is for all the gardeners out there! This time of year, we’re excited about combining our love of gardens with our love of prize giveaways. Whether you’re new to the gardening game or have years of experience in the backyard, this contest is for you.

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U.S. Home Sales Jump Due to Home Prices Declining and Mortgage Rates Dropping

U.S. Home Sales Jump Due to Home Prices Declining and Mortgage Rates Dropping

GREAT article on Bloomberg today that we absolutely have to share with our readers. The third straight year of average declining U.S. home prices is creating a boost in home sales. Plus, mortgage rates are currently back down near historic low levels and home buyers are rushing to take advantage of this double whammy (lowest mortgage rates in a generation + lowest home prices in years). This is all happening despite home prices that continue to decline. I know this discouraging fact all too well. The home I bought in May 2009 has supposedly already lost (on least on paper) more than 10% of its value since I purchased it. And I paid 30% less than the previous owners paid just three years earlier (despite them doing several very nice updates during that time). Regardless, new (and used) home buyers are taking advantage of great prices and great mortgage rates. Very smart of them, if you ask me. Here’s a quick summary of the main points of the article on Bloomberg: Lower home prices driving sales Fear that mortgage rates will rise helping to motivate folks Median prices at the lowest level since 2002 Prices are 31% lower than the 2006 peak Job market gaining “some” traction Home price bottom…is near Here’s a little bit directly from the article: “The third decline in U.S. home prices in three years is driving a pickup in sales as bargain hunters rush to buy before mortgage rates rise, even as values may slump…

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Fed Releases January Consumer Credit Numbers Today – Market Update

Fed Releases January Consumer Credit Numbers Today – Market Update

Bonds are opening down from Friday’s close ahead of this week’s Treasury auctions, and as the market continues to closely watch the escalating situation in Libya. Following last week’s heavy economic data which depicted an improving economy, this week’s calendar is light. Today, the Fed will release the January consumer credit numbers, and on Friday, the February Retail Sales report will be released.

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Mardi Gras:  Fun Facts and Ways to Celebrate in The Big Easy or at Home

Mardi Gras: Fun Facts and Ways to Celebrate in The Big Easy or at Home

In a departure from the topics I normally write about here in Quicken Loans Mortgage News, I wanted to share some interesting and timely information about something I’ve always been fascinated with – the celebration of Mardi Gras. Check out a little bit of Mardi Gras history as well as tips on enjoying festivities whether you are in New Orleans or your own home.

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Freddie Mac Reports Mortgage Rates Drop for 3rd Straight Week!

Freddie Mac Reports Mortgage Rates Drop for 3rd Straight Week!

Great news for home buyers or those waiting to refinance. Mortgage rates are down and now is the time to take advantage of a lower payment! The Wall Street Journal reported this week on Freddie Mac’s weekly survey of mortgage rates, showing rates in a decline for the third straight week.  Here’s a bit from the article: “Mortgage rates eased again last week, with long-term rates continuing their decline from the current-year high set three weeks ago, according to Freddie Mac’s (FMCC) weekly survey. Rates had seen a recent rise, hitting their highest level since April last month. They had slumped most of last year as Treasurys had declined amid economic uncertainty. The rates generally track the yields, which move inversely to Treasury prices.” Read the full article on the Wall street Journal blog. If you’re one of the people waiting for rates to come back down, your day has come. Act now or you might be sorry!

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