Weekly Mortgage Review

Week of January 27, 2013

Mortgage rates began moving upward last week with optimistic news regarding the labor market and some good new coming out of Europe. Weekly claims for unemployment spent a second week in the 330K range, reaching a 5-year low. In Europe, the European Central Bank (ECB) announced that banks were moving to pay back loans from an ECB program faster than expected. While the Eurozone crisis is certainly far from over, the announcement pulled significant money out of safe-haven, US treasuries and helped drive mortgage rates upward, at the end of the week. This week is a deluge of important economic data for markets to digest. In addition to the first estimate for the 4th quarter’s GDP, Consumer Confidence, the ISM’s Manufacturing Index, and December’s employment data, we also have a Federal Reserve meeting this week. The Fed is not expected to make any policy moves at this meeting, With rates experiencing some updraft from last week, more positive economic news this week may very likely help push mortgage rates even higher. 

2012 Review

2012 Real Estate Review

2012 was a GREAT year for the real estate market. Home prices finally stopped declining, some markets have even seen growth! Interest rates remained low to help home buyers get in to homes and keep us moving in the right direction. Short sales, bank owned and HUD homes still plague most areas but are not over running the markets as seen in past years. Home owners were able to sell their homes as a reasonable price and still buy a home at a great interest rate! I WAS ABLE TO GIVE MY CLIENTS BACK OVER $10,000 WITH MY COMMISSION SHARING PROGRAM JUST LAST YEAR! If you haven't heard about this program, where have you been? Here are the basics; all of the home buyers I work with are able to earn up to 1% of the purchase price of there home back at closing. So, if you were to buy a home at $175,000 I would cut you a check for $1,750! I cannot think of a better way to start in a new home than that. I also offer different incentive programs for listing your home with me as well. 2012 was truly a great year but 2013 already looks to be much better! If you have any real estate related questions please don't hesitate to contact me at 801.699.8176 or Realtorthompson@gmail.com