ARAMCO Report - The Mother of ALL Mortgage Blogs!

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.

Ask Mehran Aram

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 - 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

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