Real Estate News: A Look at the Economy

In a recent blog post, New Penn Financial explains how the recent GDP estimates from the Fed relates to the housing market, ultimately making the bold claim, “The Fed is saying they want more interest rate increases. Right now, we don’t believe them.” Read the full article … [Read more...]

Mortgage Rates Make A Jump Higher!

Mortgage rates were on the rise last week, with fixed-rates making the biggest one-week leap so far this year, Freddie Mac reports in its weekly mortgage market survey. Fixed-rate mortgages are now at the highest level since the week ending May 1. More in Mortgage … [Read more...]

Mortgage Rates Reverse Course

Following two weeks of increases, average fixed-rate mortgages inched down this week, providing buyers some relief heading into the spring home-buying season, Freddie Mac reports in its weekly mortgage market survey. Freddie Mac recorded the following national averages … [Read more...]

Interest rate hikes slowing housing market

Sales of existing single-family homes slipped by 18 percent during the fourth quarter and by 16.6 percent in January year over year, according to the latest research by Fletcher Wilcox, vice president of business development for Grand Canyon Title Agency Inc. Rising … [Read more...]

Check out these January ARMLS Stats

As members of the Multiple Listing Service, we are privy to some great local statistics each month and I thought I would share this month's data as it gives a year in review perspective. COMMENTARY by Tom Ruff of The Information Market 2013: Year in Review The end … [Read more...]

Rates Hold Steady

Fed Holds Rate Steady as Inflation Worries Rise Wall Street Journal (06/26/08) P. A1; Reddy, Sudeep The Federal Reserve on June 25 ended its aggressive campaign of interest rate cuts, holding its target for the federal-funds rate-charged on overnight loans between … [Read more...]

"Once upon a time…"

Once upon a time (2005) in a peaceful sunny land not too far away (Arizona), Builders came and built homes.  Then the Builders got greedy.  All of them decided to increase prices. The people of Phoenix became afraid that there would be no homes left for their families, so … [Read more...]

Market Update

The numbers are in for February in the Phoenix metro area and there are some bright spots! While the number of homes sold continues to decline, the historical data shows this is not that unusual. The months supply of inventory is declining, a positive sign in this volatile … [Read more...]