This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let's walk through what happened as we approach the Fed Meeting next week. "Bringin' on the heartache, Can't you see?, Can't you see?" Bringin' on the Heartbreak? Def Leppard. SVB Failure and Rates It's important to remember that bonds enjoy bad news,...
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This is from one of lenders I work with, Chris Maxwell from Bank of Albuquerque. You can reach him at: 505-804-3191/cmaxwell@bankofalbuquerque.com National Real Estate News Bottoming out Existing home sales for January 2023 fell (a very modest) 0.7% MoM to an annualized pace of 4,000,000 units. That was the 12th straight month of decline. But look at the chart: it's bottoming. Existing home...
Dave Stevens on understanding this housing market 5 things loan originators need to remember December 5, 2022, 9:51 am By David Stevens, CMB I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. And while my more recent roles were more senior in stature, my mind tends to think like I did when I was a top loan originator in Denver back in...
I haven't posted much lately as the news for home buying seemed to always be bad. While it is true interest rates are going up it is not all bad. Here is some information I received from a lender at Bank of Albuquerque. It seemed to make sense to me, so I wanted to pass it on. The number one question that we are all getting is "Should I buy a home right now or wait?" It's a very valid question...
At the end of September, gasoline prices were 25.6% higher than a year ago, well above the overall inflation rate. Frankly, the best way to save on gasoline is to use less of it. To do this, studies show that the single biggest factor that affects your vehicle’s fuel economy is how you drive. Here are some fuel-saving driving tips along with other advice from experts that can reduce your visits to those...
This is an article from EPOCH Times. It gives great advice for Homebuyers to look at when purchasing a home. Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family...
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