Keep winter from putting chill on home sales

Northwest winters can make it difficult for your home to look its best and attract other buyers who, like you, need to relocate in the winter. The following steps can help brighten your home and make it more appealing to potential buyers [Read more…]

Mortgage application volume hits 12-year low

Mortgage application volume hit a 12-year low last week, according to data released today.

The Mortgage Bankers Association’s Market Composite Index – a measure of mortgage application volume – fell 5.5% last week on a seasonally adjusted basis. On an unadjusted basis, the index fell 6% from the week prior. The seasonally adjusted Purchase Index was also down, falling 6% to its lowest level since December of 2012. [Read more…]

5 great tips for Property investors

The best property investors will always maintain that they’re playing a game of skill, not a game of chance. Whilst property price trends will always be completely out of their hands, there are plenty of steps that investors can take to improve their chances of making big profits on their portfolios.

Here are five tips to help investors ensure they choose a winning property. [Read more…]

12/12/2013 Mortgage Bond Market Activity

Everyday I wake up and the first thing I look at is how the Bond market is starting off and the direction it is moving.  Yes this could be a little odd to some people, but it helps me with my clients and my referral partners to stay in the loop of my industry.  I do the extra steps to make sure people look to me as an expert in my field and try to understand the direction of rates and whether or not to lock in .  Well some of you may wonder what exactly I am looking at, and below is exactly what I read.

 RateChartHistoricalNew

Current Trend Direction: Sideways

Advise Your Clients: Locking

Current Price of FNMA 4.0% Bond: $103.22, -9bp

Jobs – now you see ’em. Now you don’t. In the previous week, Weekly Initial

Jobless Claims fell to 298K, the lowest level since early September and most

likely influenced by the Thanksgiving holiday. But last week, claims surged by

68K to 368K and above the 315K expected, the highest level since early

October. The labor market recovery continues to be modest and uneven.

Throw in higher Retail Sales for November at 0.7% and above the 0.6%

expected and we have Mortgage Bonds indecisive and trading modestly lower.

On the heels of yesterday’s weak 10-Year Note $21B offering, the Treasury will

be unloading $13B 30-Year Bonds at 1:00pm ET. A sloppy auction could ding

Bonds again today.

In foreclosure news, RealtyTrac reported that foreclosure inventory fell by 15% from October to November and up 37% from a year ago. The foreclosure problem continues to improve from the abyss seen a couple of years ago. Foreclosure activity includes default notices, scheduled auctions and bank repossessions.

And this news from Elliot Eisenberg, Ph.D and member of MMG’s Expert Advisory Board –

The recent budget deal which reduces fiscal drag, along with improving employment numbers, the likelihood of faster growth in 2014 and the fact that long-term rates have adjusted to the idea that tapering will soon start, makes me peg the probability of a December taper at 25%, up from zero last month.

The Fed will couple any tapering announcement with a statement/policy reassuring markets that short-term rates will remain super-low. We love EE, but think chances of a taper next week are closer to zero.

Technically, the 4% Bond has slipped below support at $103.48 and looks headed towards the 103.06 level. G-fees, the Mel Watt confirmation, the Volker rule, the final HUD announcement, better Jobs report, fears of tapering…and couple that with the Head and Shoulders bear market pattern that we identified last week, and you have reason to continue locking, as the path of least resistance remains lower.

 

King County home-price gains lose some sizzle

The median price of a single-family home in November was up 7.5 percent from a year earlier. The number of homes for sale rose, but inventory remains tight [Read more…]

Home sales JUMP to highest level in 5 years!!

I have sure seen a ton of growth and sales happening in the Seattle and the Tacoma area marketplace over the last 12 months. So many of my clients have had to submit offers on 3-5 different  homes before their offer is accepted, and this is not on short sales! Homes are selling in less than 30 days and that includes time to process the loan. Values have also come up in our area so much that many people can sell their home with equity and get into another home in an area they desire more.

Make sure to contact me today to talk about getting pre-approved for your next home and ask me why the Listing agent Realtors  want to sell to a client working with a local bank and lender and not a National Lender such as your BIG 3 banks you see on every corner.

I found this article below and you may find this information useful.

Cheers;

Bruce [Read more…]

Selling a House? 5 Reasons You Should Do It Now

Many are talking about why now is a great time to buy a home. Today, we want to look at why it might also be an opportune time to sell your house. Here are the Top 5 Reasons we believe now may be a perfect time to put your house on the market. [Read more…]

Have you grabbed the refinancing opportunity?

Think the refinancing wave is coming to a halt? Not yet. Roughly 18% of all loans, or about 9.4m loans, are in a place to be refinanced, according to a report. [Read more…]

All page content by Bruce McLaughlin Eagle Home Mortgage 1029 East Main Puyallup WA 98372 NMLS 70081 253-651-5755 Contact me directly for any questions