November Housing Scorecard: Continued Signs of Stabilization in Prices and Affordability

RISMEDIA, November 24, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the November 2010 edition of the Obama Administration’s Housing Scorecard (http://www.hud.gov/scorecard). The latest housing figures show continued signs of stabilization in house prices and high home affordability due in part to record low mortgage interest […]

Week in Review – December 7, 2009

Last Week in Review “IT’S A RECESSION WHEN YOUR NEIGHBOR LOSES HIS JOB; IT’S A DEPRESSION WHEN YOU LOSE YOURS.” Harry S. Truman. Very true words indeed – and last week brought some market action when Fed Chairman Ben Bernanke discussed the recession, commenting that our economic recovery still faces “formidable headwinds.” As you can […]

Favorable News from the Fed

Favorable news from the Fed: weaker-than-expected economic data and strong demand for a record $112 billion in Treasury auctions helped mortgage markets this week. While the daily price movements were often large, mortgage rates ended the week just a little lower. The Federal Funds Rate As expected, the Fed made no change in the federal […]

Mortgage Rates Remain Nearly Unchanged

While weaker-than-expected economic data pushed mortgage rates lower last week, concerns about the coming supply of debt needed to pay for government programs moved mortgage rates higher this week, leaving rates nearly unchanged over the past two weeks. Mortgage Rates This week, the economic data had little impact, but mortgage rates moved higher for a […]

Now is the Time to Buy Asheville Real Estate

Take Advantage of Historic Low Interest Rates and the First-Time Homebuyer Stimulus Package Thanks to a Fed announcement which exceeded all expectations, it was a big week for mortgage markets. Mortgage rates ended the week down significantly, falling near the lows reached in January. The stock market and Treasury market also performed well during the […]

Homeowner Stability Initiative

Fears about the economy led to a stock market decline and pushed mortgage rates a little lower during the week. Even with Tuesday’s passage of the new $787 billion stimulus plan, economic growth forecasts from Wall Street economists and from the Fed were revised lower. Wednesday, President Obama announced the $275 billion Homeowner Stability Initiative, […]

Financial Stability Plan

Government announcements dominated the financial news this week. Updates on two major programs were favorable for mortgage markets, and mortgage rates fell modestly during the week. Financial Institution Assistance Plan The most highly anticipated news concerned Tuesday’s speech from Treasury Secretary Geithner on the financial institution assistance plan. This “Financial Stability Plan” involves multiple programs […]

Mortgage rate drops mean good news for Asheville Real Estate

CNN Money reported last week that mortgage rates have fallen to a 37-year low: Mortgage rates fell this week, with the 30-year fixed mortgage sinking to its lowest rate in 37 years as the Federal Reserve cut interest rates to historic lows. The article continued: “The decline was supported by the Federal Reserve announcement on […]