Thanks for visiting my blog! I'm an economic & political junkie and a Mortgage Advisor in Austin, TX, so I like to write about how these two arenas interplay. I love Austin, so you'll also read local area statistics and happenings. In an effort to keep it light-hearted during our turbulent times, perhaps some inspiring stories & funny stuff about the family :)
RECENT BLOG POSTS
Austin Mortgage Rates. Week of 12.28.09. Much like the rest of 2009, Austin mortgage rates were very volatile last week. Rates ended the week around where they began the week, which Freddie Mac estimates is around 5.14% nationally for conventional 30 year fixed rates. However, according to Fredd...
Austin Mortgage Rates. Week of 12-14-09. Austin mortgage rates ended last week approximately where they began. There was a slight worsening to rates on Tuesday when the Producer Price Index (PPI) was released and showed signs of inflation; luckily, Austin mortgage rates lowered to their lower le...
Austin Mortgage Rates: Week of 12-7-09. The national Freddie Mac 30-year fixed rate for the week of 12.07.09 was 4.81%, up approximately .125% from the previous week. Austin mortgage rates fall under Freddie Mac's southwest region's rate of 4.83%. Look to the right for Freddie Mac's interest ra...
We had some good news and bad news last week, let's start with the good! The national unemployment rate came in better than expected at 10%. Only 11,000 jobs were lost in November, much lower than the 125,000 expected loss, AND the fewest number of jobs lost since December 2007! While this is...
This week Housing and Urban Development (HUD) Secretary, Shaun Donovan, presented to Congress his plans to tighten FHA's lending standards. In his testimony to the House Committee on Financial Services, Donovan made it clear, FHA is NOT "the next subprime" despite the fact that FHA has fallen b...
As you've probably already heard, the $8,000 federal tax credit for first-time home buyers has been extended and expanded to include move-up buyers. While this is great news, the most common issue for a first time buyer still remains...How do I get the money needed for down payment on a home pur...
Time for another edition of my week in review! Rates are near this year's lows, and are having a tough time pushing any lower. As I've mentioned in previous posts, the Fed will be slowing down the purchase of mortgage-backed securities through 1st quarter 2010; so if you're on the fence about b...
I'm organizing an East Austin Open House Tour this Sunday from 1:00-4:00 PM. Its specific to Area 5 in Austin, and includes trendy, affordable homes and condos. Start at 2516 East 8th Street for your map and tour guides. Come show your support (and some GREAT homes) and stop by!
Rates opened up flat last Monday from the previous week. There was some upward pressure during the week with relief on Friday when the unemployment rate came in higher than expected. 190,000 jobs were lost in October, much higher than the $175,000 expected loss, putting our unemployment rate a...
You may've just heard that President Obama signed the extension of the $8,000 tax credit into law. There have been some other meaningful changes, including offering the tax credit to repeat buyers (up to $6,500) who have lived in their home at least 5 years, and an increase to the income limits....