December’s Job Report : Good For Home Affordability
For this month -- and for the rest of 2011-- employment data will figure big in mortgage markets and for home affordability. Last week's release is the first big splash.
For this month -- and for the rest of 2011-- employment data will figure big in mortgage markets and for home affordability. Last week's release is the first big splash.
it's a fantastic time to be a Philadelphia home buyer where 66.3 percent of all new and existing homes sold in the third quarter were affordable
Mortgage rates would have been volatile this week. The presence of Labor Day just piles on. If you have a chance to lock something favorable and within your budget, consider doing it.
Today, in its first meeting in 5 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains within its target range of 0.000-0.250 percent.
According to the government, 431,000 jobs were created in May, but of those new jobs, 95.4 percent represented temporary staffing for the 2010 Census. Home affordability is improving on the report.
California, Florida, Arizona and Georgia accounted for more than half of all bank repossessions in March 2010. It's a disproportionate distribution of foreclosures. Together, the 4 states represent just 23 percent of the overall U.S. population.
In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group's portfolio risk while strengthening its overall financials. For consumers, the changes mean higher costs.
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