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Update from Damian Cook, Brayden Capital Home Loans...

The U.S. housing market has shown increased stability in home sales during 2011 compared to the previous year. Home prices are up 18% since their low in February. Signs of recovery remain mixed in the economy-employment and GDP came in less than expected while the strong points were in consumer confidence and new home starts.

The debt ceiling has been raised without any drastic changes to occur immediately. Although this prevents a sudden shock to a weakening recovery, over the next year and a half, experts anticipate considerable changes in how the government spends and collects money. The good news is that the government remains solvent and will be able to pay its bills without major disruptions. Meanwhile, buyers continue to benefit from historically favorable buying conditions, and sellers are encouraged by increased market stability.

For the first time in a year, home prices are up year-over-year and month-over-month. This marks only the fourth time that prices have increased since June 2006. Home prices rebounded 8.9% in June with median home prices rising to $184,300. This is 0.8% above the year-ago level. Median home prices remain close to 2003-2004 levels. The combination of low prices and historically low interest rates means that home affordability is extremely favorable.

If you need a fantastic loan officer, we highly recommend Damian Cook:

Brayden Capital Home Mortgage | Damian Cook | 770-512-3420

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