This week the Federal Housing Finance Agency released new figures on housing prices. Find out which states have house prices lower than they have in the past.
In economic news yesterday, two home index reports were released – the S&P Case Shiller along with the Home Price index. Both reported modest value gains. Today, we have another home index report of the new home sales number at 10 a.m. The report is expected to also show an increase of 3.4%, adding to the jump in March.
The Today Show’s financial editor, Jean Chatzky, had some advice for people thinking about getting a home refinance and potential first-time home buyers. Chatzky mentions that although mortgage rates have the potential for dropping even further this summer, you should act now to lock in low mortgage interest rates.
U.S. Treasuries are higher today as concern Europe’s debt crisis is spreading and tensions between North and South Korea boost demand for safe assets. Also, the treasury will be conducting the first of this week’s auction packages with today’s 2-year note auction.
You may need to put some work into your house before it lives up to its full potential. Before you start knocking down walls, make sure you are aware of the renovation’s return on investment.
Rates improved last week on continued global economic uncertainty, the passing of the financial reform bill by the Senate and the move by Germany to limit short selling. Some of the key economic releases slated for the week include April’s new and existing home sales, April’s durable goods, along with a total of $113 billion of Treasury auctions.
Memorial Day is fast approaching and that means summer is just around the corner. For those of us who are veterans or personally know veterans who have passed away, this day is extra special. My own grandfather fought in WWII, making this day a sobering reminder of the sacrifice he and his fellow countrymen made to protect our country.
With interest rates near historic lows many people are ready to buy their first home. Being prepared for what’s to come will help make the process easy and painless.
Yesterday, U.S. Treasuries and mortgage bonds rallied throughout the day. Meanwhile, the Dow closed -376 points and the S&P closed -43 points. Mortgage bonds are slightly higher again this morning over concerns that the European debt crisis could slow the global economic expansion.
Quicken Loans now offers a 100% loan-to-value refinance on VA loans. This is great news for veterans who want to refinance 100% of their home’s value to enjoy today’s extremely low rates.