ARAMCO Report - The Mother of ALL Mortgage Blogs!

U.S. Trade Deficit Grows

Posted by The Aramco Group on Sat, Jul 11, 2015 @ 14:07 PM

The trade deficit grew a little wider in May, resulting from declines in exports of American aircraft and other manufactured products. The nation’s shortfall rose to 2.9 percent or a seasonally adjusted $41.9 billion, according to the Department of Commerce.

Exports suffered because of a strong dollar, making purchasing American goods with foreign currencies more expensive. This is particularly true in vital markets such as the European Union and China, both of whose economies are struggling. The Greek debt crisis has shaken Europe and China is contending with the looming fears of a stock-market crash.

The volatility of the U.S. trade deficit has Federal Reserve officials keeping an eye on the global economy as they consider raising the benchmark interest rate for the first time since 2008. While there remains worldwide economic uncertainty, the U.S. has seen a slowdown in inflation, a growing jobs market and home prices leveling. These factors should keep mortgage rates affordable in a historical context. The current conforming no point 30-year fixed rates average 4.125 percent and 15-year rates average 3.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381–8888 and your question may be featured in an upcoming article.

Topics: Greek Debt Crisis, European Union, China, 30 year fixed rates, Mortgage rates

ARAMCO Report - Monday February 23, 2015

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

According to the National Association of Realtors, the housing market did not get off to a great start in 2015. Existing home sales in January fell 4.9% to the lowest level in 9 months. But the median home price year over year was up 6.2%. Meanwhile the California Association of Realtors reported continued momentum with international buying activity with more than 1-in-3 international buyers being from China with mostly cash purchases. Conforming no point 30 year fixed mortgage rates average 3 7/8ths with 15 year rates closer to 3 1/8th. And now for something completely different… Did you know that the first sky written ad using an airplane was in 1922. The words “Daily Mail” were written over Epsom Downs, U.K.

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, Housing Market, China, Daily Mail, 30 year fixed rates, California Association of Realtors, National Association of Realtors, Epsom Downs, England

ARAMCO Report - Monday February 2, 2015

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

The benchmark 10 year note yield fell to 1.693% helping keep mortgage rates at their lowest level since mid-2013, fueling another refinance boom. Boosting demand in the bond market were two measures of manufacturing sentiment in January which matched their worst performance in a year. This thanks to weakness in the European and the Chinese economy as well as the stronger U.S. dollar. 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 prior to Sunday’s Super Bowl XLIX, the favorite had won 69% of the time? The New England Patriots were also a 1 point favorite in Sunday’s game.

This is Mehran Aram with today's ARAMCO Report. 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.

Ask Mehran Aram

Topics: The Aramco Group, China, 30 year fixed rates, Europe, Super Bowl, 10 Year Note, refinance

ARAMCO Report -Monday September 22, 2014

Posted by Mehran Aram on Mon, Sep 22, 2014 @ 17:09 PM

Weaker than expected economic data and concerns about China’s economic outlook was supportive of the bond market. Existing home sales fell 1.8% in August and year over year were down 5.3%. And the Chicago Fed’s National Activity index also fell in August. Meanwhile higher level of student debt is expected to reduce U.S. home sales by around 8% this year. 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 a book borrowed by George Washington in 1789 was marked as overdue for 221 years? It was returned in 2010 and the $300,000 in late fees were waived.

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 sales, Reverse Mortgage, Aramco Report, home purchase, George Washington, bond market, China, 30 year fixed rates, Library, Chicago Fed's National Activity, economic data, refinance