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ARAMCO Report - Thursday March 2, 2015

Posted by The Aramco Group on Fri, Apr 3, 2015 @ 12:04 PM

A new analysis of housing data from 24/7 Wall Street revealed that a full, nationwide recovery of single-family home values might still be 2 ½ years away. Values are on the rise, but some markets—particularly those in Western states including California—have recovered more quickly. Looking at other current economic data, new orders for U.S. factory goods rose unexpectedly in February — good news for a sector that accounts for 12% of the U.S. economy but that is negatively affected whenever the dollar is gaining strength, as it is now. Also, last week, initial jobless claims fell close to their lowest levels in 15 years according to the Labor Department’s jobs report. Claims decreased by 20,000 to a seasonally adjusted 286,000 in the week ending on March 28th. Thursday’s jobs report also showed that the number of people continuing claims for unemployment assistance fell by 88,000 — meaning that the number people discontinuing assistance is exceeding the rate at which new people need help.

Conforming no point 30 year fixed rates average 3.75 percent while 15-year rates are closer to 3 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.

Ask Mehran Aram

Topics: financial recovery, durable goods, Housing Market, economic data, housing recovery, home values

ARAMCO Report - Tuesday March 24, 2015

Posted by The Aramco Group on Tue, Mar 24, 2015 @ 13:03 PM

The job market appears to be recovering and businesses are hiring at the fastest pace in 15 years. However it seems a lack of long-term trust in the economy has resulted in a decline in durable goods investments for businesses across the country. According to the U.S. Department of Commerce, companies have reduced investments in items like cars, appliances and computers for three of the last four months, and are now investing less than they were a year ago. Large-scale declines in machinery purchases may also be due to the reduction in oil and gas prices, which has put pressure on the previously gangbusters domestic energy sector. Meanwhile in the mortgage bond market, rates remain low with conforming no point 30 year fixed rates averaging 3.75 percent with 15-year rates closer to 3 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.

Ask Mehran Aram

Topics: durable goods, gasoline, labor market, 30 year fixed rates, economic growth, jobs, economic data