Mortgage Rates Are Rising

For most lenders, you’d have to go back to late June in order to see  mortgage rates any higher than they were today, although several lenders did offer improvements as market conditions allowed in the afternoon.  Additionally, there really wasn’t much upward movement in rates from yesterday.  Rather, this is simply the culmination of a slow, steady move higher over the past 2 weeks.  For now, the worst side effect of this gradual movement is that it’s finally ...

Continue Reading →

Boomers Continue to Ignore Conventional Wisdom

Oh those Baby Boomers.  Even as they age they don’t retire, at least not from the public stage.  This week those over age 55 were the subject of Freddie Mac’s Insight report.

Freddie Mac Chief Economist Sean Becketti says the conventional wisdom is that Boomers, those born from the time World War II ended through 1964, are like Peter Pan, they refuse to grow older, not retiring but launching instead second and third careers, shunning senior centered communities in favor of ...

Continue Reading →

First-Time Buyers Are At It Again Home Sales Are Up Again

Sales of existing homes increased in June for the fourth consecutive month.  The National Association of Realtors® (NAR) said it was encouraged to see the month also bring a modest increase in the percentage of first-time homebuyers.

Sales of existing single-family homes, townhomes, condominiums, and cooperative apartments rose 1.1 percent from May to a seasonally adjusted annual rate of 5.57 million units.  Sales in May were at a rate of 5.51 million, a downward revision from the 5.530 million originally reported.  ...

Continue Reading →