
Half of people surveyed by Relocation.com moved to improve their living situation. This is a huge improvement from last March when the majority of people moved due to the recession.
•26% moved to live in a bigger or better home
•24% moved into a better neighborhood
•12% moved to be closer to family or friends
•9% moved into an area with a lower cost of living
•6% moved due to a change in marital status
•3% or less for each of the following: school, job loss, retirement, or foreclosure
For Further Questions feel free to contact us.To check Your Local Market Data go to Your Market Snapdshot For further information about Metro Atlanta. orIf you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Metro Atlanta go to http://www.servingdouglasvillehomes.com

On August 20, the first phase of the credit card bill that was approved in May took effect.
Key changes in the way credit cards work include:
1.Customers will now receive 45 days notice,
up from 15 days, before interest rates increase. 2.The minimum balance due can increase by no more
than two times the percentage that it previously has been. 3.Bills must be mailed 21 days, up from 14 days,
before the payment is due.
The balance of the bill's provisions will become effective in February. Until then, consumer advocates' concerns center around credit card issuers continuing to increase rates, lower credit limits, decrease rewards programs, and close inactive accounts. Credit card companies reaffirm these actions are not due to legislation but decreasing credit scores.
This bill intends to help consumers control credit and unknown expenses. As consumers consider buying or selling a home, knowing monthly expenses becomes increasingly important in understanding how much they can afford and are comfortable spending on housing.
For Further Questions feel free to contact us.To check Your Local Market Data go to Your Market Snapdshot For further information about Metro Atlanta. orIf you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Metro Atlanta go to http://www.servingdouglasvillehomes.com

"Cash for Clunkers" began July 24 with such overwhelming demand that the program, originally set to expire November 1, burned through funding with amazing speed. In the first week alone, the incredible demand depleted the entire budget of $1 billion. A second round of $2 billion in funds extended the program's life by a few weeks, but the program ended on August 24 with no plans to revive or extend it.
The success of the program has put 690,000 new fuel efficient cars on the road and has saved jobs in the auto industry. In some cases it has even brought laid-off employees back to work. For example, GM announced plans to reinstate almost 1,400 employees and add overtime for a substantial number of existing employees.
The government's $8,000 first time-home buyer tax credit has also seen tremendous success with first-timers making up 30% of all buyers in July. First-time buyers made up as much as half of all buyers in earlier months this year. As the tax credit reaches its expiration, the government may take a similar approach as with the Cash for Clunkers program- declaring it a success and unwinding the program.
For Further Questions feel free to contact us.To check Your Local Market Data go to Your Market Snapdshot For further information about Metro Atlanta. orIf you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Metro Atlanta go to http://www.servingdouglasvillehomes.com
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For Further Questions feel free to contact us.To check Your Local Market Data go to Your Market Snapdshot For further information about Metro Atlanta. orIf you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Metro Atlanta go to http://www.servingdouglasvillehomes.com
Market Comment - Week of October 5th, 2009
Mortgage bond prices rose last week pushing mortgage interest rates lower. Consumer confidence came in weaker than expected helping rates rally Tuesday morning. The ADP employment release showed more job losses than expected. The employment report Friday morning confirmed the ADP payroll data indicating the US economy shed 263,000 jobs in September.
For the week, interest rates fell by about 7/8 of a discount point.
Another round of Treasury auctions hits the market this week. Solid foreign demand will help rates remain the same or improve. Signs that foreign demand is diminishing will not bode well for mortgage interest rates. Weekly jobless claims set for release Thursday will carry a bit more weight than usual due to the lack of other economic data.
|
Economic Factors |
|||
|
Economic Indicator |
Release Date Time |
Consensus Estimate |
Analysis |
|
3-year Treasury Note Auction |
Tuesday, Oct. 6, 2009 |
None |
Important. $39 billion of notes will be auctioned. Strong demand may lead to lower mortgage rates. |
|
10-year Treasury Note Auction |
Wednesday, Oct. 7, 2009 |
None |
Important. $20 billion of notes will be auctioned. Strong demand may lead to lower mortgage rates. |
|
Consumer Credit |
Wednesday, Oct. 7, 2009 |
Down $9.5 billion |
Low importance. A significantly larger than expected figure may lead to lower mortgage interest rates. |
|
Weekly Jobless Claims |
Thursday, Oct. 8, 2009 |
None |
Moderately Important. A measure of employment. Job weakness may help rates improve. |
|
30-year Treasury Bond Auction |
Thursday, Oct. 8, 2009 |
None |
Important. $12 billion of bonds will be auctioned. Strong demand may lead to lower mortgage rates. |
|
Trade Data |
Friday, Oct. 9, 2009 |
$33 billion deficit |
Important. Affects the value of the dollar. A falling deficit may strengthen the dollar and lead to lower rates. |
Professionals
Obtaining a mortgage is often a confusing task that can also lead to frustration. The reason for the confusion is due to the fact that mortgage financing is complex. The good news is that this complexity provides consumers with options and choices best suited to fit their needs.
Everyone's financial position is unique. Some people have large cash reserves that can be used for down payments while others want to get into a home with little or no money down. Credit ratings vary from person to person. In addition, future plans vary. Some people plan on staying in their home for the rest of their lives while others only plan on staying for a few years.
These facts alone make comparing your mortgage to your neighbor's based on rate alone a flawed endeavor, yet many people attempt to do so. Admittedly, everyone wants a good deal. Keep in mind that comparing rates is just one component of the entire mortgage. Other variables include the term, down payment requirements, income qualifications, credit ratings, reserve requirements, current debt, prepaid points, and many more.
A mortgage professional is able to take all of these variables that are unique to each individual and help a person obtain the mortgage loan that works best for their situation. The service they provide is time consuming and complex. However, the rewards of dealing with a professional carry forward throughout a borrower's life. Making wise financial decisions today helps to pave the way for a safe and secure future.
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