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ARAMCO Report - Thursday March 26, 2015

Posted by The Aramco Group on Thu, Mar 26, 2015 @ 14:03 PM

Investors looked to the security of U.S. government bonds after the Commerce Department reported a weaker than expected uptick in GDP in the fourth quarter. T Bills strengthened for the first time in three days. Economists at the U.S. Department of Commerce expected that the country’s GDP to grew at 2.4% over the whole of 2014, but downgraded their estimate to 2.2 percent. The difference of 0.2 percent of the U.S.’s $16.7 trillion GDP (2013 estimate) is about $33.4 billion less than expected. With the bond market closing in positive territory, conforming no point 30-year fixed rates remain at around 3.75 percent while 15-year rates are averaging 3.125 percent. 

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.

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Topics: bonds, Treasury, bond market, GDP, bond buying, 30 year fixed rates

ARAMCO Report - Friday January 30, 2015

Posted by The Aramco Group on Mon, Feb 2, 2015 @ 11:02 AM

Another big sell off in stocks sparked a flight to safety rally in bonds pushing the yield on 30 year treasuries to an all-time low of 2.243%. The benchmark 10 year note yield recorded its largest one month decline since mid-2011 now at 1.673%. The catalyst behind the move was a much lower than expected 2.6% increase in 4th quarter GDP. Conforming no point 30 year fixed mortgage rates average 3 5/8ths with 15 year rates closer to 2 7/8ths.

And now for something completely different…  Did you know that there is only one ATM machine in the world that is capable of giving instructions in Latin. This one and only Latin speaking ATM machine is in Vatican City.

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

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: GDP, bond buying, Stocks, Latin, Bond yields, sell-off, ATM, Vatican City

ARAMCO Report - Wednesday September 17, 2014

Posted by Mehran Aram on Wed, Sep 17, 2014 @ 17:09 PM

As expected the Federal Reserve gave further assurance to the financial markets that the Fed will keep short term interest rates low for a “considerable time” after the bond buying program ends in October. And as for long term interest rates mortgage rates were unchanged with conforming no point 30 year fixed rates averaging 4 ¼% and 15 year rates closer to 3 3/8ths. Meanwhile home builder optimism in September rose to the highest level since 2005.

And now for something, completely different: Did you know that it takes about 63,000 trees to make the newsprint for the average Sunday edition of the New York Times? That’s a lot of trees!

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

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Aramco Report, and now for something completely different, home purchase, bonds, New York Times, Sunday, trees, bond buying, 30 year fixed rates, Federal Reserve, Mortgage rates

ARAMCO Report - Wednesday July 30, 2014

Posted by Mehran Aram on Wed, Jul 30, 2014 @ 17:07 PM

A stronger than expected 4% annual growth rate in 2nd quarter GDP sparked a sell off in the bond market, pushing mortgage rates up by 1/8th of a %. With conforming no point 30 year fixed rates closer to 4 1/4 % and 15 year rates closer to 3 1/4. Meanwhile the Federal Reserve said the U.S. economy is improving and the risks of deflation are disappearing. The Fed did cut back its monthly bond buying by another $10 billion while committing to keep interest rates low for a considerable time.

And now for something, completely different: Did you know that Japan has approximately 200 volcanoes? Japan is home to 10% of the active volcanoes in the world!

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, Interest Rates, Fed, U.S. economy, bond buying, 30 year fixed rates, Federal Reserve, Japan, annual growth, volcanoes

ARAMCO Report - Wednesday July 9, 2014

Posted by Mehran Aram on Wed, Jul 9, 2014 @ 17:07 PM

According to the minutes from the Fed’s June meeting, the Fed will end its bond buying program in October. But based on recent Fed forecasts the first interest rate hike will most likely come in 2015. Meanwhile, mortgage rates remain at their lowest level of the year with conforming no point 30 year fixed rates averaging 4 1/8th and 15 year rates closer to 3 1/8th. Last week mortgage applications for both purchase and refinancing rose by 1.9%.

And now for something completely different: Did you know that the Empire State Building is struck by lightning about 7 times a year?

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, bonds, bond buying, 30 year fixed rates, Empire State Building, refinance, Fed's, Mortgage rates