Rates
This week we almost saw a nice improvement in rates, and if it wasn't for Thursday and a stock rally, led by oil going under $100/barrel, we would of seen a .125 to .25 improvement in rates this week.
There really wan't much news about the economy this week, although today we say the CPI or inflation creep to its highest levels in 2 years.
The Government did sell off $72,000,000,000 in our debt this week, most of it was fairly well picked up, except for Thursday's auction of 30 year bonds, was kind of lame.
Trade deficit was higher than expected, but duh, oil is high.
Today, economist have been coming out saying the US economy isn't going to grow as much as once thought, this has caused the 10 year bond to once again fall, along with rates.
But the 10 year bond, chart to the right, just can't break that 3.14% barrier for some reason. And according to most traders, will take some tough news to break through.
Based on what we have seen, rates should dip into t he 4.375% today for your conventional 30 year fixed.
Signs of Life
Over the last 2 weeks, we have seen some pretty good signs of life:
30-60-90 day deliquencies are at their lowest level in 2 years.
Deliquencies on Credit Cards are a 36 month low.
Foreclosure notices are a 5 month low.
Home prices in Ada & Canyon County increasing.
More and more neighborhoods are cycling out the foreclosures and short sales?? The Real Estate bust, really depends upon the neighborhood, as each neighborhood cycles out or in other words, all who have lost their jobs, going to lose jobs, or can't make their payment, and now completed.
As an example, 1 very large neighborhood in Ada County, at one time, had over 50 short sales or foreclosures in there, now only has 2 SS and 2 FC and no bank owned. A Very good sign.
I think JUNE is going to be a GREAT month!
When can I buy a home??
This has been the #1 question I have had for over a month, when can a person purchase another home after they have had a BK or a FC or a SS.
Well I am here to answer that, to the right, in the Flyer Box is a flyer called "Short Sale FC Waiting Period"
It ROCKS!
Easy to understand, print out for clients and hand them out!
Sales tip for the week!
I have said it before, almost 8000 people in Idaho SS or FC in 2007-2008, and they can potentially buy a home again, see article above!
So how do you find these people?
Your friendly title company can pull all Deed's for SS or FC, lets say for May of 2007, then by the power of Google, you can find them, and their addresses, and their Facebook account info.
Sales tip for 2 weeks ago! FOLLOW UP!
So a few weeks ago, I suggested that you had out 10 cards per day to McD employees, Walmart employees, anyone you had contact with.
A couple of you took my challenge! Self included!
So for me, I picked up a FHA refinance from a Wal-Mart employee, Cha Ching!
1 of my Realtors is looking for a home for a Server they meet at Good Wood! Who didn't think they could afford a home, but had 657 FICO score and can go FHA!!!!!