It’s a big week for economic news. Today, the Federal Open Market Committee (fondly known as the “Fed”) met. Interest rates were left untouched, but supporting commentary has tongues wagging. You can read the full press release here.
To help us mere mortals wade through the jargon and the sometimes not so obvious implications, I’m providing a guest post from Lance Kinkead from First Capital Mortgage, complete with recommendations:
This week’s FOMC meeting has adjourned with no changes to key short-term interest rates, as expected. However, also as expected, we are seeing some volatility in the bond market because of comments made that affect future changes to key short-term interest rates. The most notable was Continue reading “Mortgage News Update”
The Federal Open Market Committee Meeting is scheduled to meet this week, and so far, tapering has yet to significantly impact housing. Key word being yet.
See more on www.housingwire.com
Housing Wire recently asked veteran housing economist David Berson to list 3 major things we need to know about the 2014 housing market.
- 2014 should prove to be the strongest year for housing activity since before the Great Recession (or as I fondly call it, “The Great Correction”)
- Demographics should start to favor housing activity
- Mortgage availability shouldn’t worsen and may improve
We’ve seen these trends gaining traction in #SiliconBeach. It’s good to know the broader trends are coming up on our heels to support the growth. Go Silicon Beach real estate!
Now who’s been hanging back waiting? Let’s get on it before the train leaves the station. 😉
See the full article with Berson’s predictions on www.housingwire.com.
Houses may be more expensive than they were a year ago, but they are selling faster. Residences listed on real estate marketplace Zillow sold in September spent just 86 days on the site—a full 30 days faster than a year earlier.
The reason is no mystery: The supply of available properties is down more than 7 percent year over year, while demand has risen, according to the National Association of Realtors.
Get the rest of CNBC’s story here.
Think 86 days sounds fast? Sometimes it’s even faster in West LA: