We can show you the advantage of buying versus renting. Why spend more money each month to rent when you can spend less and own your own home. Call Mike and Melody @ 770-888-9269 and let them show you how to get more for less.
Prices seem to be creeping back up and so are mortgage rates. There has never been a better time to buy a home. Resales are priced below replacement cost. We are looking at homes that cost $600,000 to build that are selling for under $400,000. Less expensive homes that sold for $175,000 4 years ago are selling under $125,000. This is not such good news if you bought 4 years ago and need to sell but it is great news if you are looking to buy. Contact us and we will help you find the perfect home.
Mike & Melody Vanderhoff
"Your Bridge to Success"
770-888-9269
May 23, 2011
Mortgage markets were unchanged last week, despite improving on four of five days. Economic data was worse-than-expected almost across the board, but neither FHA nor conforming mortgage rates budged.
Instead, markets grappled with the just-released Fed Minutes which weighed heavily on investors and on Wall Street.With the release of the minutes, it’s increasingly clear that the Federal Reserve will end its support for bond markets on schedule in June, and that a Fed Fund Rate hike is possible within the next 12 months.
Not surprisingly, the date of the Fed Minutes release — Wednesday — was the singular “down day” for mortgage markets last week.
After falling for 4 straight weeks, mortgage rates appear to have troughed. This week they could rise, and there’s no shortage of data on which for bonds for trade.
•Tuesday : New Home Sales; Speeches from Fed’s Plosser and Bullard
•Wednesday : Durable Goods; FHFA Home Price Index
•Thursday : GDP; Initial Jobless Claims
•Friday : Core PCE; Pending Home Sales; Consumer Sentiment
There’s other forces on markets, too. First, there are 3 bond auctions — a 2-year, a 5-year, and a 7-year. Weak demand for any of the three will lead mortgage rates higher.
And, second, this is a holiday week. Memorial Day is next Monday and, with the 3-day weekend ahead, expect large numbers of Wall Streeters to skip out on Friday (and likely part of Thursday, too). As the week concludes, therefore, bond volume will thin, amplifying mortgage rate movement — up or down.
If you’re shopping for a mortgage, it’s a good time to look at locking in. As the week progresses, mortgage rates should become less predictable and more volatile.
Children’s Healthcare of Forsyth
410 Peachtree Parkway, Suite 300
Cumming, GA 30041
Along with a facility tour, this family-friendly event will include:
Face painting and a moonwalk for the kids
Wellness screenings for scoliosis, asthma and body mass index (BMI)
A chance to meet Hope & Will, the healthcare mascots
A tour of their critical care vehicle
Food & Drinks
Children’s Healthcare of Forsyth will provide specialized care & outpatient services, including:
Fracture care
Immediate care
Orthotics & prosethetics
Pediatric specialty care
Rehabilitation
Sports medicine
X-Ray & Lab services
Stay Connected with Children’s:
For more information on this awesome facility
coming to our neighborhood,
visit
www.choa.org/forsythLabels: childrens health, your real estate agent
Mortgage markets worsened overall last week for the first time in 5 weeks.
Better-than-anticipated economic data plus dwindling concerns for Greece’s sovereign debt combined to a spark a bond sell-off. Conforming mortgage rates moved higher as a result.
Rate shoppers were hit especially hard last Tuesday.
At Monday’s close, conventional fixed- and adjustable-rate mortgages were posting their lowest levels of 2011, but by Tuesday’s market close, rates had climbed as much as 0.250 percent across the board. In some cases, more.
The spike highlights how quickly mortgage rates can change in a recovering economy, and why “floating” a rate can be costly.
This week, mortgage rates figure to be equally volatile. There’s a large set of market-changing data planned for release, and several Fed members have planned public appearances, including a 9:00 AM ET, Monday morning kickoff from Fed Chairman Bernanke.
•Monday : Bernanke speech; Homebuilder Confidence Survey
•Tuesday : Housing Starts; Building Permits
•Wednesday : FOMC Minutes
•Thursday : Existing Home Sales
In addition, Thursday brings a second rate shopper-risk.
The Initial Jobless Claims will be released at 8:30 AM ET and it will be closely watched by Wall Street. Initial claims are sharply higher since the end of April and investors believe the jobs market is key in a sustained economic recovery. If the data shows that initial claims receded, mortgage rates are expected to rise in response
Labels: alpharetta homes for sale, cumming homes for sale, current mortgage rates
