28 Feb 2013
By Mark Feder

Existing Home Sales Rise As Home Inventory Shrinks

Housing Analysis
Home sales rose for the 11th consecutive month according to the National Association of REALTORS® Existing Home Sales Report for January. This is the first time this has occurred since the period between July of 2005 and May of 2006. National Average Home Price Up Over 12% Annually The national average home price in January was $173,600, which is 12.3 percent higher than for January 2012.  Calculated on a seasonally-adjusted annual basis, Existing Home Sales data is compiled using completed sales of single family homes, condominium units and co-ops. January's existing home sales rose by 0.4 percent to 4.92 million…
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27 Feb 2013
By Mark Feder

Is Downsizing The Next Big Trend In Homes?

Real Estate Trends
The real estate market has started to recover from the downturn over the last few years in many areas of the country, and more people are thinking about buying a new place to live. With this new energy in home buying, an interesting trend seems to be developing.   Instead of going for larger homes, which was an overwhelming trend in years past, many people are choosing micro-dwellings. What is a micro-dwelling? There are a number of different styles of micro dwellings being built.  This is a relatively new concept for homes in the United States and individual creativity abounds…
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26 Feb 2013
By Mark Feder

Fed Considers Future of Quantitative Easing

Federal Reserve
The Federal Open Market Committee (FOMC) released minutes from its January meeting last Wednesday, as it generally does three weeks following the most recent meeting.   The FOMC is a committee within the Federal Reserve System tasked with overseeing the purchase and sale of US Treasury securities by the Fed. The Federal Reserve makes key decisions regarding interest rates and looks to this committee for advice on how and when to take action. The Future Of Quantitative Easing One of the main topices that Fed leaders discussed was the future of its ongoing program of quantitative easing (QE). Currently, the…
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25 Feb 2013
By Mark Feder

What’s Ahead For Mortgage Rates This Week: February 25th, 2013

Mortgage Rates
A quiet past week in economic news caused mortgage rates to worsen slightly. This week, however, will be packed with economic reports which may have an impact on interest rates going forward. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from 3.53 percent to 3.56 percent with borrowers paying 0.8 in discount points and all of their closing costs. The average rate for a 15-year fixed rate mortgage was unchanged from last week at 2.77 percent with borrowers paying 0.8 in discount points and all of their closing costs. In…
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