Tagged with housing market
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Economy Slow to Improve
Bonds and mortgage backed securities had a rocky week last week ending with a hammering on Friday believed to be caused by Bernanke’s comments that the economy continues to improve although it is happening very slowly. Bernanke also indicated that the Fed is ready to step in with more quantitative easing if necessary. Some experts [...]
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Upper End Brings on New Broker
Upper End Properties, one of Saint Louis’ rising real estate companies, is excited to announce the addition of one of St. Louis’ rising real estate stars; Joshua R Corson. For the past 10 years, Josh has been primarily engaged in real estate development and consulting. Most notable was his involvement in the development of The [...]
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How Bad Could it Really Be?
I was at lunch the other day with an executive from one of Saint Louis’s largest publicly held corporations who recently relocated to Saint Louis. We were talking about the economy and how much the landscape has changed in so many different industries. I knew he was eventually going to get around to real estate because that [...]
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Trouble for the Housing Market
The treasury will be borrowing about $102 billion worth of 2 yr, 5 yr and 7 yr notes or roughly $2 billion less than it borrowed last month. July existing home sales are due out and are expected to be down roughly 13% while new homes sales are actually expected to have increased 3%. Existing [...]
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The 3 L’s
The first rule of real estate used to be the 3 L’s….Location, Location, and Location. In a declining market such as this we might think about dumping this old phrase and adopting a new first rule comprised of 3 new L’s. In my opinion these would be Listen, Learn, and Let Go.
Listen to the economic [...] -
Economy in Recovery???
At the Federal Open Market Committee Meeting last week, the Fed came about as close as it could to assessing the near future of the nation’s economy as declining by stating “The pace of recovery is likely to be more modest in the near term than had been anticipated.” During the meeting, the Fed indicated [...]
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Mortgage Rates Continue to Drop as Jobs Continue to Disapear
More bad news came for the economy last week. 131K jobs were lost in the month of July even as private jobs showed an increase of 71K. If that pace holds, it could take as long as seven years just to get back the 8.5 mil jobs that have already been lost. Weekly jobless claims [...]
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An Uncertain Economy Keeps Mortgage Rates Down
Uncertainty about the pace of the economic recovery pushed mortgage rates down to another record low this week. The economic outlook is for slower than normal economic growth with low inflation, which is favorable for mortgage rates. The risks of a “double dip” recession and deflation also increase demand for relatively safer investments such as [...]
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Mortgage Rates Continue to Hold As New Home Sales are on the Rise
Mortgage rates held relatively steady last week despite an increase of roughly 7 basis points on the 5 year and 10 year treasury notes. A majority of the rate market activity recently has been in treasuries with mortgage rates remaining surprisingly stable. The stock market remains confined to a wide trading range with many large [...]
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Increase in Mortgage Bonds Leads to Lower Interest Rates
Last week proved to be another great week for the mortgage bond markets.
30 year conventional bonds increased 69 basis points, 30 year FHA bonds increased 100 basis points and 15 year conventional bonds increased 84 basis points. Overall these bond price increases led to a decrease in mortgage rates of approximately 8 basis points on [...]Categories: Real Estate, Upper End Properties