ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Thursday September 18, 2014

Posted by Mehran Aram on Thu, Sep 18, 2014 @ 17:09 PM

Construction of residential units surged to a post-recession high in July before falling last month, settling at an annual rate of 956,000 new units. Compared to a year ago up by 8% as more families entered the market. This according to the U.S. Department of Commerce. Mortgage rates were unchanged following the Fed’s commitment to keep short term interest rates low. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 3/8ths.

And now for something completely different: Did you know that the city of Chicago has the only post office in the world where you can drive your car through?

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: Reverse Mortgage, Aramco Report, and now for something completely different, home purchase, Chicago, residential construction, Interest Rates, 30 year fixed rates, refinance, U.S. Department of Commerce, Fed's, Mortgage rates, post office

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.

Ask Mehran Aram

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 - Friday May 30, 2014

Posted by Mehran Aram on Fri, May 30, 2014 @ 17:05 PM

More good news on housing, as completed foreclosures are now officially at the lowest level since the great recession. This according to Corelogic. Given today’s inventory levels, Nationwide it will take 14 months to move all the foreclosures. Meanwhile in May consumer sentiment dipped but the Chicago Purchasing Managers’ Index rose to its highest level since October.  Conforming no point 30 year fixed rates average 4 1/8 th with 15 year rates closer to 3 1/8 th, the lowest since November.

And now for something completely different: John Adams and Thomas Jefferson were the only two men who signed the Declaration of Independence and also went on to become President of the United States.

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, Chicago, Mehran Aram, Interest Rates, CoreLogic, 30 year fixed rates, Declaration of Independence, John Adams, refinance, President, Thomas Jefferson, United States, USA

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.

Ask Mehran Aram

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