Best Mortgage and Home Loans » Economy

Enjoy Your Vacation This Year

admin — Mon, 28 Jun 2010 13:57:14 +0000

For the last several years many of us have been staying close to home because of the economic situation or just needing to stay and work. I know we have stayed close to home because of school and work schedules. However, this year we are actually going out of town for a family function and I have heard more people I know deciding to get out of town this year for their vacation.

I just wanted to wish all of you, whether you are staying in town or traveling a very safe and happy vacation. I hope you get to see family and friends who you have not seen in a while and have the time of your life. As you get older, and you can tell by my picture that I have done that, you realize how quickly time goes by and how often you have to spend time with those you would rather not and how much you long to spend time with those you have a blast with. This year, I hope you spend time with the blast people as much as possible and just enjoy your summer vacation to the hilt and have a great time!

How Employment and Unemployment Affects Interest Rates

admin — Wed, 13 Jan 2010 03:17:06 +0000

The December employment report came in relatively bond friendly. Though unemployment came in at 10% as expected; the payroll component showed job losses of 85,000 compared to the 35,000 losses that were expected by analysts. Though the mortgage bond market had a generally positive reaction to the report, improvements in rates were tempered by concerns for some of the revised data from prior months. Revisions to the November figures showed a 4000-job increase as opposed to the original 11,000-job decrease.

Employment numbers coupled with other fiscal factors impact interest rates, and while most would think that keeping interest rates as low as possible is the goal, ultimately, it is not. When the economy is rocking at a healthy pace, interest rates are around 8%. Currently, the Fed is doing quite a few things to keep rates low to get the housing market moving along because a healthy housing market, most of the time, is also needed to have a healthy economy. We will all have to wait and see if everything that has been done will actually work to restore jobs and a health economy.

Holiday Market Volatility

admin — Thu, 24 Dec 2009 04:44:31 +0000

Emotions and your weight are not the only things that are volatile during the holidays as we watch the different indicators in the market go up and down on a daily basis. One day inflation seems to be out of control in one sector to be brought back from the brink by another sector the very next day; and it doesn’t stop there. What most people don’t know is whether to worry or not. Well, I have always been told that worry never solves anything so I think that’s out as a choice.

What you are left with is market information, your situation and decision making. With these three things you should be able to forge ahead without feeling like you are out at sea without a paddle. If you need the latest information on the housing market and mortgages, I will be glad to share all that I know; if you would like someone to help you talk through your particular financial situation, I am happy to listen and help as I can and when you are ready to decide I will respect whatever decision you make. Just know that all markets go up and down and the rest is up to you!

Builders Are At It Again

admin — Tue, 17 Nov 2009 01:10:52 +0000

A sign went up in my East Nashville neighborhood about six months ago that a house was going to be built soon and we saw nothing but the sign. However, over the last two weeks, the builder is not only building on that lot but on two additional lots on the street. What that tells me is the market for new homes is good in Nashville, TN. What I know is the market for homes period is good in the Nashville, TN area.

While there has been much talk about bank owned properties and foreclosures and the great deals you can get, most of these homes need some much needed updating or tender loving care to get them to a good livable place. For those who either can’t afford the additional money for updating and repairs or just don’t want to go through the hassles, there are brand new homes and recently updated homes that are coming on the market every day. I know it because they are on my street.

The First Presidential Debate and the Economy

admin — Sat, 27 Sep 2008 15:43:56 +0000

After watching the debate last night I am hearing that there are a lot of people who came away with the same thoughts as I did. Neither one of the presidential candidates wanted to address the current economy situation, but really, who can blame them?

I’m in the mortgage business and I can tell you that we see changes almost everyday in regulations, programs or underwriting requirements so I’m sure there are changes everyday in the banking and investment world as well. With so many things moving at once it has to be a job to get your head around it all.

Both our candidates have been in positions to make laws, not study economies. In fact, most of congress is made up of attorney’s. There are very few businessmen and fewer, if any, economists. As someone close to me said last night, “I certainly hope they (the people in charge of making the decisions) know what they’re doing”. Let’s all hope so.