Should I Float? Should I Lock? - Daily Update for Thursday, October 8, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Retail Sales came in much lower than last month but no where near as bad as expected.  This is resulting in very bad performance by bonds this morning..  Look for rates this morning to increase considerably from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond has dropped to the 200 day moving average. The bond is far from overbought status. I am recommending to    LOCK your best mortgage rate.  I ... 10/14/2009

2009    2008    % Change Total Sold Dollar Volume: $ 149,595,973 $ 155,954,854 - 4.08 % Average Sold Price: $ 225,976 $ 285,632 - 20.89 % Median Sold Price: $ 212,925 $ 266,000 - 19.95 % Total Units Sold: 662 546 21.25 % Average Days on Market: 133 141 - 5.67 % Average List Price for Solds: $ 255,230 $ 317,455 - 19.60 % Avg Sale Price as a percentage of Avg List Price: 88.54 % 89.98 %   The above chart is a comparison of home sales this September with September of 2008 in Prince Georges County Maryland.  Laurel Md real estate is located in Prince Georges County. As you can see, the trend of falling prices in Prince Georges home values continue.  Both the Average Sold Price of $225,976 and the Median Sold Price of $212,925, have fallen about 20 percent from last September.  This has bee... 10/12/2009

Should I Float? Should I Lock? - Daily Update for Thursday, October 8, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Little scheduled economic news occurred this week.  Today Initial Jobless Claims for last week were released coming in lower than expectations.  This should add to the Stock Market fervor going on in recent weeks.  Bonds have been holding their own attempting a foothold above the new developing ceiling.  Look for rates this morning to increase from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond h... 10/08/2009

Should I Float? Should I Lock? - Daily Update for Monday, October 5, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  With the Service Sector Index coming in slightly better than expected as well as higher than last month, this is allowing investors are moving forward with stocks and selling bonds to support their habit. Look for rates this morning to increase from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond having a tough time with its current resistance level. The bond being high in overbought status. I am re... 10/05/2009

Make the 203K rehab loan available to investors. A 203K or rehab loan is used by buyers of vacant homes to repair damage.   One of the best aspects of a rehab loan, is it allows the buyer to buy the property "as-is", with money included in the loan to make repairs on a property. This loan is ideal in this market, because of all the foreclosure properties.  Most foreclosures are in need of repair and are sold "as-is".  Many first-time home buyers may qualify for a loan on a foreclosure, but do not have the money to do any repairs.  Most banks will not lend money to a home needing extensive repairs unless the work being done is some how written into the contract. This is an issue many potential buyers of Laurel real estate are having to deal with. However, the worst part for first-time ho... 10/03/2009

Should I Float? Should I Lock? - Daily Update for Friday, October 2, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  An additional 263,000 jobs were lost last month - much worse than expected.  Unemployment rose to 9.8% right in line with expectations.  Hourly Earnings and Average Work Week were also both a bit lower than expected..  Look for rates this morning to improve from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond have broken through a resistance level but remains to be seen if it can maintain this due t... 10/02/2009

Should I Float? Should I Lock? - Daily Update for Thursday, October 1, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Personal Income and Personal Spending were both higher than expected.  Jobless Claims according to Uncle Sam were also higher than expected.  Personal Consumption and Expenditures for last month were in line with last month's numbers while the annual comparison was less than expected.  The national manufacturing index was below expectations and last months numbers though still in what is considered an expansion phase.  Look for rates this morning to improve from where they closed yesterday ... 10/01/2009

Should I Float? Should I Lock? - Daily Update for Wednesday, September 30, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  GDP came in a bit higher than expected though still showing a contraction of just under 1%.  ADP reported jobless lower than expected yet better than last month's reading. This along with yesterdays weaker than expected Consumer Confidence and the current selloff in the stock market is helping bonds to maintain its current mark near a key ceiling level. Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Tech... 09/30/2009

Should I Float? Should I Lock? - Daily Update for Monday, September 28, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  No economic news due out today.  Markets will be a bit slow (read volatile) due to the religious holiday.  Look for bonds to hold the gain eked out on Friday and rates to maintain their current level. Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond has satyed above the 200 day moving average and attempting to stay above support levels.  The bond is coming app... 09/28/2009

I just read an email from Remax.  The information was about extending the tax credit.  As many of you who are considering buying Laurel real estate know, the tax credit ends at the end of November. There is currently a big rush of buyers trying to purchase a home before the end of November. Most buyers who call me are well aware of the dead lines.  In addition, there are several other programs in Maryland that can be used with the $8000 tax credit.  The Down Payment On Your Dreamprogram in Prince Georges County Maryland.  In Anne Arundel County, there is the Mortgage Assistance Program.  Both of these programs offer buyers up to $20,000 in additional funds to buy a home. Even better, according to the email, each tax credit purchase pumps about $60,000 into the local econmy. If you want ... 09/27/2009

Should I Float? Should I Lock? - Daily Update for Friday, September 25, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Durable Good Orders came in surprisingly low - much lower than expected and lower than last month. New home Sales came in slightly lower than last month and below expectations.  Consumer Sentiment (a trailing indicator shows an uptick but this would be more based on the good news which has come out recently - which could be false). Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FN... 09/25/2009

Should I Float? Should I Lock? - Daily Update for Thursday, September 24, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Initial Jobless Claims for last week were released showing lower amounts than expected, i.e. more jobs being realized. Existing home sales came in weaker than otherwise expected. Look for rates to improve this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond has attempting to regain the 200 day moving average.  The bond is coming down from overbought status. I am recommending to    LOCK your best mortgage rate.   T... 09/24/2009

Should I Float? Should I Lock? - Daily Update for Wednesday, September 23, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Nothing major on the economic calendar until this afternoon when the Fed releases the results of their meeting.  It is still largely suspected the Fed will continue to do nothing as there have been no real signs of inflation nor a significant turnaround in the economy.  Even with these suspicions, bonds are holding their breath and sinking away from resistance levels back towards support levels. Look for rates to worsen this morning when rate sheets are released by Amerisave Mortgage Co... 09/23/2009

Should I Float? Should I Lock? - Daily Update for Monday, September 21, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  With no major news due out today, bonds are taking direction from stocks.  Currently bonds are looking to recover somewhat from Friday's drop, though hitting a bit of a rough time against the 200 day moving average. Look for rates to improve slightly this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond has bounced back above to the 200 day moving average.  The bond is coming down from overbought status. I am recomme... 09/21/2009

Should I Float? Should I Lock? - Daily Update for Friday, September 18, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  No scheduled reports due out today.  Yesterday, bonds rallied nicely due to an announcement from the Treasury Department in terms of next week's bond auctions. Look for rates to improve this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond has bounced back above to the 200 day moving average.  The bond is coming down from overbought status. I am recommending to    LOCK your best mortgage rate.   To learn why one shou... 09/18/2009

Should I Float? Should I Lock? - Daily Update for Thursday, September 17, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Jobless claims came in slightly lower than expected.  Building Permits were down though Housing Starts slightly up.  The Philadelphia Fed Index came in quite a bit higher than expected - signifying a good chance the economy is coming out the recession. Look for rates to remain steady this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond has bounced off a support level and attempting a rise back below to the 200 day... 09/17/2009

Should I Float? Should I Lock? - Daily Update for Wednesday, September 16, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Although Consumer Price Index came in slightly elevated, the core CPI came in right on target.  (The core strips away volatile reading such as auto and energy - remember the cash for clunkers program caused an spike in auto sales.) Utilization rose while Production came in level (hmmm). Look for rates have dropped a bit this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond fallen back below the 200 day moving aver... 09/16/2009

Should I Float? Should I Lock? - Daily Update for Tuesday, September 15, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Wow!  A major uptick in Retail Sales, the Producer Price Index and the Empire Index.  All of these in their various forms came in both higher than expected and higher than last months numbers.  All of this relates to a good outlook for the stock market but also a pop in interest rates today. Look for rates to go up this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond fallen back below the 200 day moving average.  T... 09/15/2009

Should I Float? Should I Lock? - Daily Update for Thursday, September 10, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Consumer Sentiment came in better than expected today.  Because the stock market is holding steady, the bond is rising nicely (interest rates falling). Look for rates to improve a bit this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond is holding nicely above the 200 day moving average.  The bond is high in th overbought status. I am recommending to    LOCK your best mortgage rate.   To learn why one should Float... 09/11/2009

Should I Float? Should I Lock? - Daily Update for Thursday, September 10, 2009 Here are the daily thoughts on interest rate floating or locking if you are asked by your clients.  As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.  Weekly Jobless Claims came in lower than expected.  The US trade imbalance rose $5 Billion more than expected.  Yesterday, the Treasury Auction came in quite nicely resulting in support of the bond at the 200 day moving average. Look for rates to improve a bit this morning when rate sheets are released by Amerisave Mortgage Corporation. Technically speaking - the FNMA 4.5% 30 year bond is holding above the 200 day moving average.  The bond is high in th overbought status. I am recommendi... 09/10/2009