Sunday, September 30, 2012


Mortgage rates hit record low, AGAIN!

NEW YORK (CNNMoney) -- Mortgage rates again fell record low levels this week, as the Federal Reserve's decision to buy billions in home loans for the foreseeable future continued to lower costs for would-be home buyers.
Mortgage finance backer Freddie Mac's weekly survey showed the average 30-year fixed-rate mortgage fell to 3.40% from 3.49% the previous week, which had matched the previous record low set in July
The fixed-rate 15-year mortgage also hit a record low of 2.73%, down from the previous record of 2.77% a week earlier.
The Fed announced Sept. 13 that it would be buying $40 billion in mortgage-backed securities each month for the foreseeable future. The idea of the purchases, popularly known as QE3, is to spur economic activity by pumping more cash into the economy and driving down rates. Those taking out new home loans, either to purchase or refinance, will be among the first beneficiaries of the Fed's policy.
Read the rest of the article here and let us know how we can help you with your purchase of a home!

-Daniel Barli, Esq.


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Monday, September 3, 2012


Home prices signal recovery may be here


CNN - "A sharp boost in home prices during the spring could signal a recovery in the long-suffering U.S. housing market, according to an industry report issued Tuesday.
The S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, climbed 6.9% in the three months ended June 30 compared to the first three months of 2012.
"We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change," said David Blitzer, a spokesman for S&P, in a statement. "The market may have finally turned around."
Read the rest of the article here.
This is GREAT news and would really be a boost for our economy. Don't hesitate to let us know how we can help you with your purchase of sale.
-Daniel Barli, Esq.

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