
Mortgage bond prices were only slightly higher last week, which kept mortgage interest rates in check, but up a bit due to unfriendly data today. There were rate improvements throughout the middle of the week tied to weaker than expected ADP employment figures. Unfortunately, a lot of those gains were erased Friday morning with the release of the employment report. Unemployment came in @ 8.3% which was better than the expected 8.5% mark. Payrolls increased 243k, which was considerably stronger than the expected 155k increase. Stocks rallied and MBS prices fell as a result.
Below are interest rates heading into the weekend:
Conventional Conforming (loan amounts $417K and below):
30 Year Fixed: 3.875% with 0 points
15 Year Fixed: 3.375% with 0 points
5 Year ARM: 2.75% with 0 points
Conventional Jumbo (loan amounts between $417K-$729,750)
30 Year Fixed: 3.875% 0 points
15 Year Fixed: 3.49% 0 points
FHA Conforming (loan amounts $417K and below):
30 Year Fixed: 3.75% 0 points
FHA Jumbo (loan amounts $417K-$729,750)
30 Year Fixed: 4.00% 0 points
USDA (100% financing):
30 Year Fixed: 3.75% 0 points
State/County Housing programs:
HOC/FHA 30 Year Fixed: 3.625% 0 points
HOC/FHA 30 Year Fixed: 4.00% 0 points (3%, 0% purchase assistance available)
CDA/FHA 30 Year Fixed: 4.00% 0 points ($5K, 0% purchase assistance available)
**All rates are subject to change at anytime without notice. Pricing is subject to qualifying.
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According to Punxsutawney Phil, who saw his shadow on Groundhog Day, there are six more weeks of winter ahead. With the potential for cold and inclement weather on the horizon, it is an opportune time to make sure the interior and exterior of your home are adequately prepared.
If you haven’t done so already, spend some time taking care of these winterizing tasks:
Heating a home is expensive, and you can keep costs down by caulking any cracks around windows and doors that let cold air in and heat escape. You should also be sure to clean or replace furnace filters to help your heating system run more efficiently and effectively.
Clear all debris from your gutters, even if you have a covered gutter system. Any leaves or other materials left in the gutters can freeze and damage the gutters themselves, and could also force freezing water up under your shingles and damage the roof.
Be prepared with everything you need in the event of a big snow storm. This includes tools for removing snow, such as a snow blower with a full tank of gas, shovels and a melting agent such as rock salt. No less important are items like extra blankets, warm clothing, and enough food and water to sustain your family in case of a few days of isolation.
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Rob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ Direct: (301) 213-7351 ~ Office: (301) 540-1330 x181 ~ Fax: (301) 601-0250 ~ E-Mail: Rob.Jeannie@gmail.com ~ www.HomesByRobandJeannie.com ~ We Work Twice As Hard For You!
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According to the National Association of Realtors (NAR), existing-home sales rose 5 percent in December and were 3.6 percent higher than in December 2010. This is the third consecutive month that existing-home sales have improved.
Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.”
Total housing inventory at the end of December dropped 9.2 percent to a 6.2-month supply at the current sales pace. Available inventory has trended down since setting a record in July 2007, and is at the lowest level since March 2005.
“The inventory supply suggests many markets will see prices stabilize or grow moderately in the near future,” Yun said.
Regionally, existing-home sales in the Northeast jumped 10.7 percent in December and are 3.3 percent above a year ago.
Search For Properties Like The Agents Do! Find Your Ideal Home With Our Free MLS Search Engine! Every Active Listing On The MLS In REAL TIME! Waste No More Time With Listings Which Are Under Contract Or Sold! Germantown Clarksburg Darnestown & More! ~ MD ~ DC ~ VA ~ WV ~ PA ~ DE ~ This is the way to shop for properties! Narrow your search by entering exactly the features you're looking for! We Can Also Put You On Our Automated MLS Search Which Will E-Mail You When Properties Matching Your Criteria Enter The System On Day Zero On The Market! No Cost Or Obligation! Never Miss Out On That Perfect Property Again!
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Rob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ Direct: (301) 213-7351 ~ Office: (301) 540-1330 x181 ~ Fax: (301) 601-0250 ~ E-Mail: Rob.Jeannie@gmail.com ~ www.HomesByRobandJeannie.com ~ We Work Twice As Hard For You!
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The beginning of a new year is always a time to reflect and consider goals and opportunities for the year ahead. As we begin 2012, there are many reasons for encouragement when it comes to the economy and real estate. If recent economic and real estate trends are any indication, 2012 will be a year when good things can happen not only for potential homebuyers and sellers, but for the country as a whole.
For example:
Existing-home sales rose again in November, and remain at levels above those of a year ago. What’s more, pending home sales also continued to gain in November, reaching the highest level in 19 months, an indication that there will be more future sales.
In November, sales of new single-family houses rose 1.6 percent from October and were 9.8 percent above November 2010. Additionally, housing starts surged to a one-and-a-half year high in November, and permits for future construction were the highest since March 2010.
In a sign that the overall economy is strengthening, U.S. employment has grown solidly for the past six months, generating 100,000 jobs or more in each month for the first time since April 2006.
The Conference Board’s Index of Leading Economic Indicators showed two months of solid gains, signaling that the economy was gaining momentum and the risks of a recession were receding, and its Consumer Confidence Index improved to levels seen in April 2011.
Search For Properties Like The Agents Do! Find Your Ideal Home With Our Free MLS Search Engine! Every Active Listing On The MLS In REAL TIME! Waste No More Time With Listings Which Are Under Contract Or Sold! Germantown Clarksburg Darnestown & More! ~ MD ~ DC ~ VA ~ WV ~ PA ~ DE ~ This is the way to shop for properties! Narrow your search by entering exactly the features you're looking for! We Can Also Put You On Our Automated MLS Search Which Will E-Mail You When Properties Matching Your Criteria Enter The System On Day Zero On The Market! No Cost Or Obligation! Never Miss Out On That Perfect Property Again!
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Rob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ Direct: (301) 213-7351 ~ Office: (301) 540-1330 x181 ~ Fax: (301) 601-0250 ~ E-Mail: Rob.Jeannie@gmail.com ~ www.HomesByRobandJeannie.com ~ We Work Twice As Hard For You!
Click Here To See Our Client Testimonials!
The new year provides an opportunity to start fresh and develop goals and resolutions for the coming year. Some people strive toward financial aspirations or a professional achievement, while others might choose to pursue a lifelong goal, such as owning a home.
If 2012 is the year to achieve your dream of homeownership, the following tips may be helpful:
Talk to the experts. Work with a real estate professional, lender and attorney who are familiar with the area in which you would like to buy a home. A real estate agent can provide you with expert knowledge about the local market, including information about community life and specific neighborhoods, and will be a useful resource throughout the entire process as he or she guides you from the initial search through closing on the purchase of your new home.
Be smart about financing. You may have savings allotted to cover your downpayment, but don't forget about other upfront expenses like closing and inspection costs. Look into the many programs available to help you reduce upfront costs. Also, get pre-approved as soon as possible to help you develop a budget, understand what price range you can afford and set realistic expectations.
Determine your preferences. Speak to your real estate agent and browse online for homes that meet your criteria. Many websites, including Weichert.com, allow you to see multiple photos, view school and neighborhood information and set up e-mail alerts to notify you of new listings. Before you begin looking at homes, be sure you have a clear idea of what your wants and needs are, as well as the price you are willing and able to pay.
Search For Properties Like The Agents Do! Find Your Ideal Home With Our Free MLS Search Engine! Every Active Listing On The MLS In REAL TIME! Waste No More Time With Listings Which Are Under Contract Or Sold! Germantown Clarksburg Darnestown & More! ~ MD ~ DC ~ VA ~ WV ~ PA ~ DE ~ This is the way to shop for properties! Narrow your search by entering exactly the features you're looking for! We Can Also Put You On Our Automated MLS Search Which Will E-Mail You When Properties Matching Your Criteria Enter The System On Day Zero On The Market! No Cost Or Obligation! Never Miss Out On That Perfect Property Again!
Click Here For Free MLS Access... HomesByRobandJeannie.com
Rob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ Direct: (301) 213-7351 ~ Office: (301) 540-1330 x180 ~ Fax: (301) 601-0250 ~ E-Mail: Rob.Jeannie@gmail.com ~ www.HomesByRobandJeannie.com ~ We Work Twice As Hard For You!
Click Here To See Our Client Testimonials!
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