Rates
Another week and economic news has been ignored, as all the economic news this week should of raised rates, but instead we saw rate stay low. So what????
Well a majority of the reason for rate to remain stable this week is due to Japan. With the 3rd largest economy now pretty much in a shamble, and growing more dire each day, more and more people have sold off their bonds and commodities and flocked to Bonds.
This has caused interest rates to remain stable, maybe fallen just a little. So that makes most rates firmly in the high 4% range, with IHA having their FHA rate today at 4.55% (5.10 APR).
Like I said, most of the economic news this week was pretty good:
-NY Empire manufacturing index was up to 17.5 and increase over last months 15.43, which means that manufacturing in this district is growing, nice.
-February Housing starts were down 22.5% on an expectation of only be down 4.0%, ouch. But keep in mind this is a national number.
-February PPI or inflation at the producer level was low, the core was only up 0.2%, which was inline with expectations. This along with the CPI or Consumer Inflation, which was also in line, will prevent the Federal Reserve from raising rates to stem off any inflation worries, which will keep rates low.
-Weekly Jobless claims fell again, by 16,000, moving in the right direction.
-Phil Fed indes expected to be 28 was actuall a 43.4, higher the number, better the growth.
So with all of these items, interest rates remained pretty stable this week.
Housing recovery.
Well if you haven't heard, I think we are a housing recovery.
According to IMLS data, Ada County say it's 3rd month, yes 3, (isn't that a trend) months where sales have increased month over month, and 2 of those months were WINTER months!
According to IMLS data, Ada County was up 22% from last month and 15 % from Feb 2010. While home prices were up 9.5% in Ada and a Whopping 10.4% in Canyon County.
Idaho Statesman article link here!
Sales Tip
Wouldn't it be nice to call some of your clients, who maybe have just had birthday's this year, that are now Eligible for the Idaho Circuit Breaker Tax Break on their homes!!!
tax.idaho.gov/i-1052.cfm
And maybe say Hi, how are you doing, have any friends and family that need a home???
Worked for me, I just had a client, which I sent out a birthday card to on Monday, and they turned an age where they could apply for this GREAT program. And while I was on the phone with him, he gave me the name of his next door neighbor who needs to refinance his VA loan. PERFECT!
And if you are not sending out birthday cards to each of your clients every year, SHAME ON YOU!
Good info
1-Want to get off pre-qual mailing lists and quit having companies peek at your credit reports??
www.optoutprescreen.com
Federal Leave Me Along and my Credit Report Also list. I also have a link under my resources area, under Credit Repair!
2-Have you checked to see if State of Idaho owes you money, or someone has a refund for you but didn't get to you address.
I had a $150 Best Buy Rebate that for some reason never made it to my door. I check the STate of Idaho web site, filled out the paperwork, and found out that someone owed me $150. After a little more paperwork, I got a check for $150. FOUND MONEY!!!!
Link to Check is HERE
Did you know?
According to the US Census, there is 167,564 vacant home in Nevada!!!! Lets say 4 people per home, that is 607,256 people, or about 2/3 the population of IDAHO!