Well another week and rates slide again, but why????
Well for the 4th straight week, we have seen rates below the 5.00%, mainly due to the unrest in the middle east and oil prices.
There are huge concerns that the Middle East could start crumbling even more, which would cause oil prices to spike, which could prevent our recovery to stall.
Even Saudi Arabia is concern and announced last week $13B in new social services, or in other words they will take all the oil revenue they receive for 1 hour.
Technically rates should of incrased this week, on Wednesday we saw the ADP employment numbers come in at 217,000 new jobs, and then today, we say the US Government numbers come in around 222,000 new jobs with unemployment going below 9% to 8.9% for the first time in over 2 years.
We also saw December's numbers revised to add another 58K jobs, and January revised from 36,000 jobs added to 63,000 jobs added.
Over all, rates should of increased, but they went down about .125 of a point this week, in late trading today. But this, like I said last week, is temporary, it will only last as long as oil prices remain high, which will probably last only as long as there is turmiol in the Middle East.
Get'em while they are low!
Home Prices for Treasure Valley
I blogged yesterday, very short, READ IT. CNN Money is predicting that Treasure Valley home prices will only decline 1% this year, and September 2011 to September 2012 they are expecting a 2.8% increase.
And in reviewing their numbers from the past, they have been pretty accurate.
Soooo
Interest rates at their lowest levels for 2011......
Home prices expected to rise.....
Sounds like the prime time to buy!!!!!
Ada County Home Owner's Exemption
Did you know you can file your Homeowner's exemption electronically!!!! And Ada County will email you back a confirmation!!!!
I have the form to download on my web site at:
http://www.375loan.com/Resources/New_Home_Owner_Checklist/
It is in the right side brown box.
Investors
Had a realtor helping investors purchase a home, they were going to purchase 1 home for $100,000 and put $50K down.
But after talking iwth them and the RE agent, they decided that instead of 1 home, why not purchase 2 homes and put $25,000 down on each home.
Putting 25% down is the sweet spot for mortgage rates.
The clients never thought of that, and figured they had to put more down in order to get the best rates. So clients are now searching for another home, and the RE agent is searching for another home.
Moral of the story, happy clients buying 2 homes.
Moral of the story for the RE agent, happy clients purchasing 2 homes!!!!
Don't Forget
If you ever need a flyer, just look to the right, I have FHA, RD etc... flyers that you can download and print off!!!