A few months ago, it was widely believed that the Fed’s massive purchase of mortgage backed securities was keeping long-term interest rates artificially low in order to stimulate the economy. It’s been six weeks since the Fed stopped buying mortgage backed securities, and there is no sign that that the end of the purchase program [...]
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Constantly changing headlines involving the European financial crisis (Greece, possibly Portugal) along with the uncertainty of the stock market should make dollar denominated assets, i.e. Treasuries, Mortgage Backed Securities etc. appealing. These issues should be enough to limit or prevent mortgage rates from moving higher in the near future. St. Louis Mortgage Interest Rates – May 5, [...] Realtors, home buyers and sellers are rushing to complete sales agreements before the tax credit for home purchases expires this week; home buyers must have a deal by April 30 and close by June 30 to qualify for a tax break up to $8,000 for first-time home buyers and $6,500 for those moving to a [...] First-time homebuyers made up a record high share of sales in March, according to the latest Campbell Surveys poll of more than 1,500 real estate agents nationwide; First-time homebuyers accounted for 48.2% of all home purchases. The March uptick comes ahead of the extended tax credit deadline. Who Qualifies- First Time Home Buyer $8,000 Tax Credit The primary [...] First-time home buyers comprised an unprecedented 47 percent of the market last year according to a recently published report by the National Association of Realtors (NAR). NAR’s report, 2009 Profile of Home Buyers and Sellers, points to the federal tax credit and the historic affordability of housing as the most likely reasons first-time buyers scored [...] Interesting results from Fannie Mae National Housing Survey Fannie Mae released results of the Fannie Mae National Housing Survey, a comprehensive research project that surveyed more than 3,000 consumers to assess their confidence in homeownership as an investment, the current state of their household finances, their views on the U.S. housing finance system, and their overall [...] NEW FHA Policies Go Into Effect April 5th Applications for FHA-guaranteed mortgages exceeded an annual rate of 3 million in October; nearly triple the level in 2007. In 2006, when subprime and other Wall Street programs were at full speed, the annual rate for applications was less than 600,000. As a result the Federal Housing Administration [...] PLASTIC TAKES PRIORITY. Consumers are paying more attention to their credit card payments and making sure they are current according to a newly released report from TransUnion. The credit information management company analyzed 27 million anonymous consumer records randomly sampled during the six quarters from 2008 to 2009. Their selection criteria included consumers with at least [...] LAST CALL FOR HOMEBUYER’S TAX CREDITS! Prospects are scurrying to sell and/or buy homes before next month’s tax credit deadline.” “It’s been absolutely nuts, I have showings galore and contracts are coming in left and right,” commented one real estate agent. To qualify for the credit, buyers must have fully executed sales contracts in place by April [...] Last Friday’s suprisingly strong payroll figures likely reinforced for many investors that the next time the Fed makes a change to their monetary policy strategy-it will likely to raise short-term interest rates. The actual date of such an event may be months away-but an increasing number of “stronger than expected” economic reports are making it [...] Low foreclosures, stable home prices and affordability make eighth-ranked St. Louis a good bet for home buyers, according to a report released by Forbes.com last Friday. Forbes gathered data from the National Association of Home Builders and Wells Fargo’s Housing Opportunity Index (HOI). The index measures median home prices against median incomes. Additional data overlays included [...] When considering historically low interest rates, competitive home values along with the $8,000 First-Time Homebuyer and $6,500 Repeat Homebuyer Tax Credits, potential homebuyers still have a great opportunity. THE TIME TO ACT IS NOW. The Federal Reserve indicates it will stop buying mortgage-backed securities toward the end of the first quarter. Most mortgage experts believe that mortgage [...] More than 380 mortgage lending operations nationwide have ceased operation since 2006, according to the Mortgage Lender Implode-O-Meter website. However in spite of a tough and demanding economic market, Paramount Mortgage this week celebrated it’s 40 year anniversary! “Expect Excellence” has been our corporate motto and the driving force in our philosophy of providing exemplary customer service,” [...] There is time left for qualified buyers to take advantage of the 2009 First-Time Home Buyer’s $8,000 Tax Credit & Repeat Home Buyer’s $6,500 Tax Credit. Binding sales contract must be executed by April 30, 2010, the closing can be extended until June 30, 2010. The newly expanded first-time homebuyer and repeat homebuyer tax credit [...] FHA loans gained in popularity for borrowers as applications for FHA-guaranteed mortgages exceeded an annual rate of 3 million in October; nearly triple the level in 2007. In 2006, when subprime and other Wall Street programs were at full speed, the annual rate for applications was less than 600,000. As a result the Federal Housing Administration [...] The mortgage market will be besieged this week by a wave of worry…demand concerns related to Treasury auctions to the question about what happens if Fed Chairman Bernanke is not confirmed for another term… uncertainty seldom pushes rates lower. St. Louis Mortgage Rates – January 27, 2009 * 30-year fixed-rate mortgage 5.00% no points St. Louis mortgage rates this week remain unchanged on fixed rate loans this week but dropped slightly on ARM’s according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates – January 13, 2009 * 30-year fixed-rate mortgage [...] St. Louis mortgage rates this week bounced around a bit with 30 year fixed rate mortgages and ARM’s decreasing slightly while 15 year fixed rate mortgage rates increased according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates [...] St. Louis mortgage rates inreased again this week bringing 30 year rates above 5 percent according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates – December 30, 2009 * 30-year fixed-rate mortgage 5.25% no points St. Louis mortgage rates inched up slightly this week but remained at near record-lows according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates – December 15, 2009 * 30-year fixed-rate mortgage 5.00% no [...] St. Louis mortgage rates remained at near record-lows this week, with only the 30 year fixed rate mortgage rates increasing slightly, according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates – December 9, 2009 [...] St. Louis mortgage rates remained at near record-lows this week according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates - December 2, 2009 * Tweet This Post St. Louis mortgage rates remained at near record-lows this week according to St. Louis-based Paramount Mortgage Company. Lower interest rates, low prices and the extension and expansion of the home-buyer tax credit should be pretty tempting to buyers out there. St. Louis Mortgage Rates – November 25, 2009 * Tweet This Post |
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