ARAMCO Report - The Mother of ALL Mortgage Blogs!

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 - Wednesday February 18, 2015

Posted by The Aramco Group on Tue, Feb 24, 2015 @ 11:02 AM

The minutes for the Fed’s January meeting was viewed as dovish and bond friendly. Many Fed officials said a premature rate hike would harm the recovery, while only a few thought a later move would risk higher inflation and lead to bubbles. Meanwhile the producer price index fell by a record 8/10ths of a % in January and permits for residential building also fell by 7/10ths of a %. Bonds rallied with conforming no point 30 year fixed mortgage rates averaging 3 7/8ths and 15 year rates closer to 3 1/8th. And now for something completely different… Abraham Lincoln was known for a lot of different things. But did you know he is also in the wrestling hall of fame? He lost only one out of almost 300 matches! 

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, Interest Rates, 30 year fixed rates, Federal Reserve, Abraham Lincoln, Wrestling

ARAMCO Report - Friday February 13, 2015

Posted by The Aramco Group on Tue, Feb 24, 2015 @ 11:02 AM

Mortgage rates rose by about an 1/8th of a %. Over the past week with conforming no point 30 year fixed rates averaging 3 7/8ths and 15 year rates closer to 3 1/8th. Easing worries over the global economy and rising stock prices led to the biggest 2 week sell off in U.S. government bonds in a year. Meanwhile according to the California Association of Realtors, buying a home in California became slightly more affordable in the last quarter of 2014 compared to the prior quarter. And now for something completely different… Did you know that on average, a man spends $130 on Valentine’s Day gifts and plans? That contributes to the $14.7 billion industry.

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: bonds, Valentine's Day, 30 year fixed rates, sell-off, California Association of Realtors, home values, homes, stock prices

ARAMCO Report - Thursday January 22, 2015

Posted by Mehran Aram on Mon, Jan 26, 2015 @ 13:01 PM

The European Central Banks decision to start purchasing bonds gave the stock market a big boost. Initially there was upward pressure on mortgage rates due to a knee jerk reaction by bond traders to sell. But surprisingly mortgage bonds recovered their earlier losses leaving mortgage rates unchanged. Conforming no point 30 year fixed rates still average 3 5/8ths with 15 year rates closer to 3%. Their lowest level since mid-2013.

And now form something completely different… You probably didn’t know that workers of Ben & Jerry’s Ice Cream are entitled to take home 3 free pints of ice cream or frozen yogurt per day. Not bad at all!

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: bonds, European Central Bank, purchasing, stock market, traders

ARAMCO Report - Friday January 16, 2015

Posted by Mehran Aram on Fri, Jan 16, 2015 @ 11:01 AM

In December consumer inflation saw the biggest monthly drop in 6 years thanks to falling gasoline prices. The 4/10ths of a % drop in inflation in December was the largest drop since the end of 2008. But consumer sentiment skyrocketed to an 11 year high pushing stock prices sharply higher on Monday sparking a sell-off in Bonds. Mortgage rates remain at their lowest level since 2013 with conforming no point 30 year rates averaging 3 5/8ths and 15 year rates closer to 3%.

And now for something completely different… Did you know that actor Paul Newman’s food company, Newman’s Own, donates all its profits to charity? Since 1982 the company has donated over $400 million.

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: gasoline, bonds, prices, Paul Newman, Newman's Own, 30 year fixed rates, sell-off, inflation, sentiment, high, pushing, stock prices, consumer

ARAMCO Report -Tuesday January 13, 2015

Posted by Mehran Aram on Tue, Jan 13, 2015 @ 17:01 PM

An earlier rally in stocks on Tuesday faded away completely, leaving stocks barely in negative territory and once again benefiting banks.  The yield on the 10 year treasury note fell again, closing below the 1.9% mark for the 1st time in 20 months. This thanks to yet another drop in the price of oil, now around $45 a barrel and the continuing uncertainty about the global economic growth. Conforming no point 30 year fixed rates average 3 5/8ths with 15 year rates closer to 3%

And now for something completely different… Did you know that in Dubai, the Burj Al Arab Hotel offers all its in house guest, a 24 carat gold iPad? The guest get to keep it for the duration of their stay and use it as a virtual concierge.

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: home prices, bonds, Treasury, yield, uncertainty, 30 year fixed rates, Mortgage Market, stock market, economist, oil, global economic, growth, Mortgage rates, financing

ARAMCO Report -Wednesday October 1, 2014

Posted by Mehran Aram on Wed, Oct 1, 2014 @ 17:10 PM

According to Trulia’s chief economist, despite the recent deceleration in home price appreciation, nationally home prices were 3% undervalued in the 3rd quarter of 2014. Meanwhile in the mortgage market, mortgage rates fell 1/8th of a % to their lowest level of the year. Conforming no point 30 year fixed rates now average 4 1/8th with 15 year rates closer to 3 1/4%. This following a big sell off in the stock market which sparked a big rally in bonds.

And now for something completely different: Did you know that it took the inventor of the Rubik’s Cube, Erno Rubik, an entire month to solve the puzzle before introducing it to the public?

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: home prices, bonds, Rubik's Cube, 30 year fixed rates, Trulia, Mortgage Market, stock market, economist, puzzles, Mortgage rates, financing

ARAMCO Report -Monday September 29, 2014

Posted by Mehran Aram on Mon, Sep 29, 2014 @ 17:09 PM

August pending home sales were down 1% from July, further evidence of an uneven housing recovery. This according to the National Association of Realtors which regularly reports on home purchases under contract which have not closed escrow yet. Bond yields were slightly lower on this news and other data reflecting tame inflation and in reaction to recent weakness in stocks. Conforming no point 30 year fixed mortgage rates average 4 1/4% with 15 year rates closer to 3 3/8ths.

And now for something completely different: Did you know that since 1945 all British tanks come equipped with tea making facilities?

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, and now for something completely different, home purchase, bonds, tanks, tea, 30 year fixed rates, Bond yields, National Association of Realtors, Housing, August, British, escrow

ARAMCO Report -Friday September 26, 2014

Posted by Mehran Aram on Fri, Sep 26, 2014 @ 17:09 PM

A larger than expected 4.6% growth in the 2nd quarter GDP and a rise in consumer confidence gave the stock market a boost on Friday. But it did not spark a selloff in bonds, leaving mortgage rates unchanged. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 3/8ths. Meanwhile according to Realty Trac, year over year the share of home sales at or below $200,000 was down 9% while sales for over $500,000 rose 23%.

And now for something completely different: Did you know that there are so many restaurants in New York City that you can eat at a different place everyday for 12 years and never visit the same place twice? That’s amazing!!

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: home sales, Reverse Mortgage, and now for something completely different, bonds, Realty Trac, GDP, 30 year fixed rates, New York City, Mortgage rates, consumer, restaurants

ARAMCO Report -Friday September 19, 2014

Posted by Mehran Aram on Fri, Sep 19, 2014 @ 17:09 PM

According to 2nd quarter data from the Federal Reserve, growth in household owners’ equity rose by a more modest 1.7%, but up $4.7 trillion from the trough during the housing crisis equating to roughly $53,000 per property. At this pace it could take until early 2018 to fully recover all the equity. Meanwhile following a drop in bond yields on Friday, conforming no point 30 year fixed mortgage rates still average 4 1/4% with 15 year rates closer to 3 3/8ths.

And now for something completely different: In 1912, an orphanage in Paris held a raffle to raise money for a hospital. Hard to believe, but the raffle prizes were live babies!

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, and now for something completely different, home purchase, bonds, 30 year fixed rates, Bond yields, equity, Federal Reserve, Paris, refinance, Mortgage rates