Pending Home Sales Data Shows Great Deals On Homes Are Getting Harder To Find

Posted by on Jun 3, 2010 in Blog, Buyers, First Time Home Buyers, Home Values, Market Updates, The Economy | 0 comments The Pending Home Sales Index shot higher in April as low mortgage rates and a soon-to-expire federal tax credit spurred home buying across the county. A “pending home sale” is a home that’s under contract to sell but not yet closed. Region-by-region, April’s pending home sales varied versus March’s data: Northeast Region: +29.5% Midwest Region : +4.1% South Region...
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How Strong is Your Mortgage Commitment NOW? New ‘Loan Quality Initiative’ in place today….

Posted by on Jun 1, 2010 in Blog, Buyers, Mortgage Guidelines, The Economy | 2 comments The following is a Guest Blog from Rick Scherer of the Bank of Canton. In in my opinion, Rick is one of the best in the industry.  My clients love working with him and I am so honored to have him as a contributor on my blog! :)   ~Nikki As of today, June 1st 2010 Fannie Mae is starting its Loan Quality Initiative which  requires all lenders who sell mortgages to them on the secondary...
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Should You Refinance Your Mortgage?

Posted by on May 27, 2010 in Blog, Mortgage Rates, The Economy | 0 comments Because of strife in Greece, Spain and North Korea, conforming mortgage rates are back to all-time lows. They’re at levels not seen in 50 years. For homeowners that missed the Refi Boom of November 2009, it’s a second chance. In this well-presented, 3-minute video from NBC’s The Today Show, you’ll get tips getting low rates and choosing the best time to lock in. Some...
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Home Supplies Tick Higher, Creating An Opening For Today’s Home Buyers

Posted by on May 25, 2010 in Blog, First Time Home Buyers, Home Values, Sellers, The Economy | 0 comments Sales of existing homes rose in April, buoyed by an expiring home buyer tax credit and exceptionally low mortgage rates. As compared to March, April’s Existing Home Sales rose by 410,000 units nationwide — the second straight month of large gains. An “existing home” is a home resold by a prior owner (i.e. not new construction). It’s a solid report for housing...
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Foreclosure Activity Slows For The First Time In Several Years

Posted by on May 13, 2010 in Blog, Buyers, First Time Home Buyers, Home Values, Market Updates, The Economy | 0 comments The national foreclosure rate is finally falling. According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010. 2 percent may not seem like much, but it’s the first time in the history of the RealtyTrac report that the annual foreclosure rate has dropped. To be sure, foreclosure rates remain elevated —...
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Markets Ignore The April Jobs Report And It’s Good News For Mortgage Rates

Posted by on May 7, 2010 in Blog, Buyers, First Time Home Buyers, Home Values, Market Updates, Mortgage Rates, The Economy | 0 comments On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls report.  More commonly called “the jobs report”, Non-Farm Payrolls is a major market mover. The number of working Americans is directly tied to the health of the economy which, in turn, drives the stock and bond markets. In general, when jobs numbers improve, it’s good for stocks and bad for...
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