ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Wednesday February 25, 2015

Posted by The Aramco Group on Thu, Feb 26, 2015 @ 09:02 AM

According to the U.S. Department of Commerce, sales of new homes in the U.S. in January were essentially unchanged. But year over year, sales were up by 5.3%. The median price for a new home was 9% and the inventory of new homes available for sale was unchanged at 5.4 months while delinquency rates for mortgage loans for 1 to 4 units fell to the lowest level since the third quarter of 2007. Meanwhile conforming no point 30 year fixed mortgage rates average 3 3/4s with 15 year rates closer to 3%. And now for something completely different… Did you know that the year 1835 was the only time in U.S. history when our country was debt free? That was when Andrew Jackson paid off what he called “The National Curse,” and it lasted exactly one year!

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: debt, inventory, 30 year fixed rates, new home sales, President Jackson, U.S. Department of Commerce

ARAMCO Report - Thursday August 28, 2014

Posted by Mehran Aram on Thu, Aug 28, 2014 @ 17:08 PM

While the percentage of homeowners who owe more on their home than it’s worth has declined from 24% a year ago to 17% today, the pain is being felt disproportionately by Americans that own lower valued homes. A study done by Zillow reports that 28% of owners of homes valued in the bottom third are currently underwater, while only 16% of average-valued homes are upside-down. Interest rates have remained relatively steady this week, with 30-year fixed rates averaging around 4.125% and 15-year rates closer to 3.25%.

And now for something, completely different: In addition to making history in baseball, Jackie Robinson was also the first African-American vice president of a major American corporation, serving as vice president for Chock Full O’ Nuts Coffee from 1957 to 1964.

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

This is Alexander Aram filling in for Mehran Aram with today's ARAMCO report.

Ask Mehran Aram

 


Topics: and now for something completely different, home purchase, debt, Interest Rates, 30 year fixed rates, Jackie Robinson, Chock Full O' Nuts, Zillow, Baseball, homes, Americans

ARAMCO Report - Monday August 25, 2014

Posted by Mehran Aram on Mon, Aug 25, 2014 @ 17:08 PM

According to a recent report from the Federal Reserve Bank of Chicago, U.S. economic activity in July expanded at a rate above its historical trend. While Fed Chairwoman Janet Yellen continues to outline positive news in the job market as support for the Fed increasing rates, the bond market remained relatively unchanged on Monday. 30-year fixed rates remain at around 4.125% while 15-year rates average 3.25%.

And now for something, completely different: Did you know that the average American is more than $200,000 in debt? And to top that, most Americans have less than $500 in savings.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (866) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Aramco Financial, Aramco Report, home purchase, Federal Reserve Bank of Chicago, debt, savings, Aramco Mortgage, Janet Yellen, American, Fed Chairwoman, 30 year fixed rates