The purchase of your first home is an important financial decision, one that requires a careful analysis of the total cost of homeownership. One aspect of the total cost of owning a home are the loan costs, which will impact the total cost of homeownership for years after the closing date. Fortunately, Massachusetts first-time home buyers have several mortgage programs to… Continue
Added by Rich Rosa on April 15, 2014 at 4:00pm —
The unemployment and payroll data released on Friday turned out to be the perfect news for the stock market. The numbers were very close to expectations. If the numbers had been stronger than there would have been concerns of the Fed ending its QE efforts, weaker numbers and the worry would have been of the economy not growing enough. The middle of road data helped the stock market rally and the bond market fell pushing rates higher.
We had seen rates drop both Wednesday and… Continue
Added by Anders L. Nilsson on June 10, 2013 at 6:48am —
Massachusetts exclusive buyer agent real estate firm Buyers Brokers Only, a member of the National Association of Exclusive Buyer Agents (NAEBA), is excited to announce the creation of a $1,000 scholarship program, Boston.com reported on May 15, 2013. Scholarships will be awarded to two individuals… Continue
Added by Rich Rosa on May 19, 2013 at 8:59am —
We had a busy week with many news releases and the Fed meeting ending Wednesday. There were no surprises in the Fed statement Wednesday. The market had hoped for stronger wording on the continuation of the QE bond buying and the possibility of expansion but the language was similar to that we saw after the last meeting. In the end there was little reaction in the markets though mortgage backed securities (MBS) gave up a little bit of earlier gains causing rates to tick up.
Added by Anders L. Nilsson on May 6, 2013 at 9:05am —
With little news, mortgage rates barely moved for the first four days last week.Friday's weaker than expected GDP data was favorable for mortgage rates, however,and caused rates to end the week a little lower.
GDP, which measures all the goods and services produced in the US, is the broadest measure of economic growth. First quarter GDP increased at a 2.5% rate, which was below the consensus forecast, but was up from 0.4% in the fourth quarter. Strength was seen in consumer… Continue
Added by Anders L. Nilsson on April 29, 2013 at 8:28am —
The stock market ran into some choppy seas last week and ended it with its worst weekly performance of the year. Meanwhile the mortgage backed securities (MBS) continued to enjoy smooth sailing. There was little reaction to news that stirred the equities market. Consumer Price Index (CPI) showed 1.9% yearly inflation which is right in line with the Fed’s target. This combined with moderate expectations for growth is providing fair winds for MBS to continue to enjoy a nice… Continue
Added by Anders L. Nilsson on April 22, 2013 at 9:18am —
Last week ended up being a bit of a dozy. Hard to compete with the rally and big news of the previous week. The big number this week was Retails Sales which showed a surprise decline of .4% from February to March.Still this is a number that the economist have been watching to see signs of the effects of the January tax increases. On the back of the weak Payroll number a week earlier there is a growing concern regarding the strength of the economy, again….
The FOMC Minutes from… Continue
Added by Anders L. Nilsson on April 15, 2013 at 9:46am —
All reports released on the jobs situation this week were on the weak side. The Thursday Jobless Claims number was the highest seen since November. On Friday the jobs report for March was released. The expectations were for 190K jobs to have been added but the actual number was less than half of that, 88K. Despite this the Unemployment Level fell to 7.6% but the drop of .2% was all attributed to people ceasing to look for a job and not as a result of people finding jobs. Jobs data like this… Continue
Added by Anders L. Nilsson on April 8, 2013 at 8:42am —
(PRBuzz.com) April 1, 2013 -- Westford, Massachusetts resident Erin Nielson recently joined exclusive buyer agent real estate brokerage Buyers Brokers Only, LLC as an associate broker.
Erin works from an office in Chelmsford, MA. She helps first-time home buyers and those experienced in purchasing …
Added by Rich Rosa on April 2, 2013 at 9:09am —
Europe continued to be the focus of the markets this week. There was finally a deal on a bailout for the Cyprus banks. Though the deal itself was viewed as positive (except I’m sure by the bank customers who can lose up to 80% of their money) concern continuous that the European Community will have a hard time continuing to bail its less fortunate members. Ongoing problems with forming a government in Italy, Europe’s 3rd largest economy, contributed further to concerns of the… Continue
Added by Anders L. Nilsson on April 1, 2013 at 1:38pm —
See below PMI story below as to how you can save big on home financing.
The focus of the markets took us for another trip to Europe this week. This time it is Cyprus that is making headlines as it needs help from the European Union. As usual when there is trouble somewhere there is a flight to safety, i.e. buying of US bonds. This bond buying helped keep rates in check this week. The Fed statement Wednesday talked about how the Fed plans to exit the from the current buying of… Continue
Added by Anders L. Nilsson on March 22, 2013 at 4:45pm —
We finished off another week with most economic news reports being better than expected. Weekly Jobless Claims dropped sharply, and Continued Claims declined to the lowest level since the middle of 2008. This kind of strong economic growth should support continued improvement in the housing market.
Inflation reports showed high top line numbers but that was mostly due to increase in gas prices. The Fed prefers to look at core inflation which excludes food and energy.… Continue
Added by Anders L. Nilsson on March 18, 2013 at 7:10am —
Last week’s employment data showed more people getting back to work. For the month of February the economy added 236K jobs vs. 170K expected. The Unemployment Rate showed a decline to 7.7% from the 7.9%, the lowest level in four years. This good news pushed the Dow Jones Stock Index to a new record high. On this economic and stock market strength there was a significant down turn in Mortgage Backed Securities (MBS) leading to higher rates.
Other recent economic news releases… Continue
Added by Anders L. Nilsson on March 11, 2013 at 8:54am —
After several weeks of steadily increasing rates we finally had a pull back this week. This came as a result of renewed concerns about Europe’s finances after the close results in the Italian elections. Core PCE inflation in the US, a number closely monitored by the Fed, showed only a 1.3% increase from a year ago. That is well below the Fed’s target. This supports the Fed members that want to continue the Quantitative Easing bond buying which continues to be the dominant factor controlling… Continue
Added by Anders L. Nilsson on March 4, 2013 at 6:54am —
There was no real surprise all week long. With all economic data reports coming in as expected and no surprises in the Fed Minutes. With that the market took a snooze. No major changes from a week ago.
The primary message that investors received from the highly anticipated Minutes from the January 30 Fed meeting was that Fed officials remain divided on the outlook for the Fed's MBS and Treasury purchase program. The Fed's current…
Added by Anders L. Nilsson on February 25, 2013 at 7:25pm —
The big news this week was Retail Sales. It is an important number because it makes up for such a larger piece of the overall economic pie. The number showed an increase of 2.2% for the 4th Quarter 2012. Not much of reaction in the financial markets since everybody is waiting to see what happens to this number in 2013. Consensus is that it will slow down because of the tax increases that took effect on January 1.
Though the US…
Added by Anders L. Nilsson on February 15, 2013 at 4:29pm —
Though much financial news is still focused on the European financial woes we are now back to a traditional pattern of stocks driving rates. Rates are now walking hand in hand with the stock market. When the stock market goes up so does rates. Stock market has been doing well lately and that means rates keep inching up. We are ½% higher on the Fannie Mae required net yield compared to the all time low set back in September. The market shows no signs revisiting those lows. If anything we are… Continue
Added by Anders L. Nilsson on February 11, 2013 at 6:07pm —
Although most New Hampshire home buyers are aware of their private mortgage options, few realize that the state’s New Hampshire Housing agency offers special loan and cash assistance programs. New Hampshire Housing has various public programs designed to help home buyers overcome common financial obstacles such as the down payment, credit requirements, high interest rates, closing costs and… Continue
Added by Rich Rosa on February 11, 2013 at 12:23pm —
A lot of good news from around the world helped stocks rally this week. Manufacturing reports in both Europe and China came in stronger and here in the US Jobless Claims number came in lower than expected for a 2nd week in a row. This made stock investors all giddy and they were selling bonds to put more money to work in the stock market. This selling of bonds, including Mortgage Backed Securities, pushed rates up during the week. Friday we had…
Added by Anders L. Nilsson on January 28, 2013 at 8:39am —
To keep up with the latest national, state and local real estate news and home-buying tips, please check out the Massachusetts Home Buyer Guide.
Added by Rich Rosa on January 12, 2013 at 7:13pm —