ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Friday August 29, 2014

Posted by Mehran Aram on Fri, Aug 29, 2014 @ 17:08 PM

Recent rallies in European government bonds and a widening spread versus U.S. Treasuries could potentially lead to tightening of domestic monetary policy. If the European Central Bank decides to provide easier access of funds to European banks, Fed Chairwoman Janet Yellen may be compelled to increase rates earlier than the expected. What does this mean for homeowners? If looking to purchase a home with financing, or refinance your current loan, getting started before the end of the year is probably a wise decision, with 30-year fixed rates currently averaging 4.125% and 15-year rates still at around 3.25%.

And now for something, completely different: Deion Sanders is well known for his athletic ability, but did you know that in 1989 he became the only person to score an MLB home run and an NFL touchdown in the same week?

For more information on a home purchase, a refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Alexander Aram filling in for Mehran Aram with today's ARAMCO report.

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Topics: Aramco Report, and now for something completely different, home purchase, bonds, Janet Yellen, European Central Bank, 30 year fixed rates, Loan, government, Deion Sanders, Football, Baseball, Europe, financing, MLB, U.S. Treasury, NFL

ARAMCO Report - Thursday August 28, 2014

Posted by Mehran Aram on Thu, Aug 28, 2014 @ 17:08 PM

While the percentage of homeowners who owe more on their home than it’s worth has declined from 24% a year ago to 17% today, the pain is being felt disproportionately by Americans that own lower valued homes. A study done by Zillow reports that 28% of owners of homes valued in the bottom third are currently underwater, while only 16% of average-valued homes are upside-down. Interest rates have remained relatively steady this week, with 30-year fixed rates averaging around 4.125% and 15-year rates closer to 3.25%.

And now for something, completely different: In addition to making history in baseball, Jackie Robinson was also the first African-American vice president of a major American corporation, serving as vice president for Chock Full O’ Nuts Coffee from 1957 to 1964.

For more information on a home purchase, a refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Alexander Aram filling in for Mehran Aram with today's ARAMCO report.

Ask Mehran Aram

 


Topics: and now for something completely different, home purchase, debt, Interest Rates, 30 year fixed rates, Jackie Robinson, Chock Full O' Nuts, Zillow, Baseball, homes, Americans

ARAMCO Report - Thursday June 19, 2014

Posted by Mehran Aram on Thu, Jun 19, 2014 @ 17:06 PM

According to Freddie Mac’s June 2014 economic and housing market outlook, at midyear existing home sales year over year are down by 7 % and new home sales are down by 3 %. Economists have lowered their overall forecast on home sales for 2014. Inventories of homes for sale remain limited and prices are on the rise but not as dramatic as last year. Conforming no point 30 year fixed mortgage rates average 4 1/4 % with 15 year rates closer to 3 1/4.

And now for something completely different: When it comes to historic ballparks, Dodger Stadium is the 3rd oldest park behind Fenway Park which is 100 years old and Wrigley Field in Chicago at 98 years old!

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

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Topics: Aramco Report, and now for something completely different, Chicago, Mehran Aram, Los Angeles, Fenway Park, Wrigley Field, 30 year fixed rates, Freddie Mac, Baseball, new home sales, Mortgage rates, Dodger Stadium, Dodgers

ARAMCO Report - Monday June 16, 2014

Posted by Mehran Aram on Mon, Jun 16, 2014 @ 17:06 PM

Despite a rise in homebuilder’s confidence and U.S. industrial production, mortgage rates were unchanged ahead of the Fed meeting. Conforming no point 30 year fixed rates average 4 1/4 % with 15 year rates closer to 3 1/4. IMF is forecasting that U.S. inflation will remain below the Fed’s 2 % target through 2017 and said the Fed should keep interest rates near zero for a longer period.

And now for something completely different: Today America mourns the passing for Hall of Fame Baseball player, Tony Gwynn. Playing the entirety of his 20 year career with the San Diego Padres, Tony Gwynn’s loyalty and character were unparalleled, and have rightly earned him the title of "Mr. Padre". May his memory be eternal.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at ww.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

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Topics: Reverse Mortgage, Aramco Report, and now for something completely different, San Diego, Interest Rates, California, 30 year fixed rates, mortgage news, Mortgage Market, Baseball, Fed's, Mortgage rates, Tony Gwynn, Hall of Fame, San Diego Padres, U.S.

ARAMCO Report - Friday June 13, 2014

Posted by Mehran Aram on Fri, Jun 13, 2014 @ 17:06 PM

The University of Michigan consumer sentiment index in June fell to the lowest level in 3 months led by more pessimistic expectation for the U.S. economy.  Meanwhile inflation at the wholesale level was down by 2/10ths of a % based on the May producer price index.  The combination of lower inflationary pressures and mixed economic data helped keep mortgage rates low with conforming no point 30 year fixed rates averaging 4 1/4 % and 15 year rates closer to 3 1/4.

And now for something completely different: The Seattle Mariners won 116 games in 2001, tying the 1906 Chicago Cubs for the Major League record for the most wins in a single season.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

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Topics: Aramco Report, and now for something completely different, Mehran Aram, Chicago Cubs, 30 year fixed rates, mortgage news, Baseball, economic data, Mortgage rates, MLB, Seattle Mariners, University of Michigan, economy

ARAMCO Report - Monday June 9, 2014

Posted by Mehran Aram on Mon, Jun 9, 2014 @ 17:06 PM

According to Fannie Mae’s May 2014 National Housing survey, the housing market has peaked and there will be a slowdown in activity in 2014.  57 % of the respondents believe the economy is headed in the wrong direction, but 48 % believe that home prices will rise over the next 12 months.  In areas such as San Diego county the median home price of $500,000 was 1.83 % higher than April and 7.29 % higher than May 2013, this according to the S.D.A.R.

And now for something completely different:  In June of 1971, Philadelphia Phillies pitcher Rich Wise became the only player in MLB History to pitch a no hitter and hit two home runs in the same game.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

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Topics: Reverse Mortgage, Aramco Report, and now for something completely different, San Diego, Mehran Aram, Housing Market, Fannie Mae, no hitter, Baseball, National Housing Survey, Phillies, Rich Wise, home run, Mortgage rates, MLB

ARAMCO Report - Monday June 2, 2014

Posted by Mehran Aram on Mon, Jun 2, 2014 @ 17:06 PM

Last week mortgage rates fell to their lowest level since November of 2013. But over the past three trading days, bonds have been selling off as they often do when they hit lofty overbought levels. The latest catalyst for selling was a stronger than expected reading on the ISM Manufacturing data. Mortgage rates are now up by an 1/8 th of a % with conforming no point 30 year fixed rates averaging 4 1/4 % and 15 year rates closer to 3 1/4 %.

And now for something, completely different: The Pittsburgh Pirates are also often called the “Bucs” or the “Buccos,” derived from the word “buccaneer” which is a synonym for “pirate.”

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

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Topics: Reverse Mortgage, Aramco Report, and now for something completely different, home purchase, Mehran Aram, Loans, bonds, bond market, 30 year fixed rates, Pittsburgh, Baseball, Pirates, trading, Mortgage rates, Buccaneer

ARAMCO Report - Thursday May 29, 2014

Posted by Mehran Aram on Thu, May 29, 2014 @ 17:05 PM

For the first time in 3 years, the U.S. economy contracted in the first quarter of 2014 by 1 % most likely because of an unusually harsh winter.  But here in spring, the economy appears to be rebounding based on some of the recent reports.  Mortgage rates remain at their lowest level since November of last year with conforming no point 30 year fixed rates averaging 4 1/8 th and 15 year rates closer to 3 1/8 th.  Meanwhile pending home sales in April rose by 4/10 ths of a % for existing homes.

And now for something completely different: The White Sox won their first World Series Championship 108 years ago in 1906, defeating their crosstown rivals Chicago Cubs 4 to 2.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

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Topics: Reverse Mortgage, Aramco Report, and now for something completely different, home buying, home purchase, Chicago, Mehran Aram, Chicago Cubs, World Series, home ownership, Southern California, White Sox, 30 year fixed rates, Baseball, home selling

ARAMCO Report - Tuesday May 27, 2014

Posted by Mehran Aram on Tue, May 27, 2014 @ 17:05 PM

Mixed economic data has kept mortgage rates at their lowest level of the year despite investor’s expectations of rising interest rates in 2014. Conforming no point 30 year fixed rates average 4 1/4 % and 15 year rates closer to 3 1/4 %. According to the conference board, Consumer Confidence rose in May but the number of people who plan to buy a home within 6 months fell to 4.9 %. Meanwhile the S&P Case Shiller report showed a year over year increase of 12.4 % in home prices in March.

And now for something completely different: On May 18th, 2004, the Big Unit, Randy Johnson, with the Arizona DiamondBacks became the oldest pitcher to ever throw a perfect game at age 40.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, and now for something completely different, home purchase, Mehran Aram, S&P Case Shiller, 30 year fixed rates, Baseball, Single Family Home, Big Unit, economic data, refinance, consumer confidence, Diamondbacks, Randy Johnson

ARAMCO Report - Thursday May 22, 2014

Posted by Mehran Aram on Thu, May 22, 2014 @ 18:05 PM

More good news on housing. Existing home sales in April rose by 1.3 %, the fastest pace since December. That was the first increase in sales in 2014. Meanwhile in the Golden State more homeowners now have positive equity according to the California Association of Realtors, 88.4 % of home sellers in April had positive equity. Meanwhile conforming no point 30 year fixed mortgage rates still average 4 1/4 % with 15 year closer to 3 1/4 %.

And now for something completely different. The 1906 Chicago Cubs hold the record for the most road wins in a single season with 60 wins.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, and now for something completely different, Mehran Aram, Chicago Cubs, California, 30 year fixed rates, California Association of Realtors, equity, Baseball, refinance