ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Monday March 16, 2015

Posted by The Aramco Group on Thu, Mar 19, 2015 @ 09:03 AM

Five million renters across the US are planning to buy a home in the next twelve months according to the Zillow Housing Confidence Index. This figure is up 25 percent relative to the same time last year. According to additional research by Zillow, typical renters should expect to pay 30 percent of their monthly income to rent. Buyers however can expect to spend only 15 percent of their monthly income on their mortgage payment. This is due to the current combination of historically low interest rates and below-peak home values keeping mortgage payments relatively low. 52,000 of San Diego renters will be looking to buy a home in the next year. Conforming no point 30 year fixed mortgage rates kept averaging close to 3.875 percent, and the 15-year rate once again averaged 3.125 percent. And now for something completely different: Mexico allows painters, sculptors, and other artists to donate part of their annual production of artwork in lieu of paying taxes.

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: mortgage interest rates, San Diego, first-time buyers, rental, renting, financing, Mexico, Artists

ARAMCO Report - Wednesday January 14, 2015

Posted by Mehran Aram on Wed, Jan 14, 2015 @ 11:01 AM

According to CoreLogic in November nationwide completed foreclosures year over year were down 9.6% and are down 64% from the peak in September of 2010. Further evidence of a recovery in housing. Meanwhile record low mortgage rates pushed mortgage loan applications up by a whopping 49.1% last week. The largest weekly percentage gain since November 2008. Conforming no point 30 year fixed rates average 3 5/8ths with 15 year rates closer to 3%.

And now for something completely different. Did you know that Queen Elizabeth the II at the time a princess, actually trained as a mechanic and military truck driver? Of course that was during World War II.

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: Queen Elizabeth II, Housing Market, CoreLogic, 30 year fixed rates, foreclosures, World War II, Mortgage rates, financing

ARAMCO Report -Tuesday January 13, 2015

Posted by Mehran Aram on Tue, Jan 13, 2015 @ 17:01 PM

An earlier rally in stocks on Tuesday faded away completely, leaving stocks barely in negative territory and once again benefiting banks.  The yield on the 10 year treasury note fell again, closing below the 1.9% mark for the 1st time in 20 months. This thanks to yet another drop in the price of oil, now around $45 a barrel and the continuing uncertainty about the global economic growth. Conforming no point 30 year fixed rates average 3 5/8ths with 15 year rates closer to 3%

And now for something completely different… Did you know that in Dubai, the Burj Al Arab Hotel offers all its in house guest, a 24 carat gold iPad? The guest get to keep it for the duration of their stay and use it as a virtual concierge.

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, bonds, Treasury, yield, uncertainty, 30 year fixed rates, Mortgage Market, stock market, economist, oil, global economic, growth, Mortgage rates, financing

ARAMCO Report -Wednesday October 1, 2014

Posted by Mehran Aram on Wed, Oct 1, 2014 @ 17:10 PM

According to Trulia’s chief economist, despite the recent deceleration in home price appreciation, nationally home prices were 3% undervalued in the 3rd quarter of 2014. Meanwhile in the mortgage market, mortgage rates fell 1/8th of a % to their lowest level of the year. Conforming no point 30 year fixed rates now average 4 1/8th with 15 year rates closer to 3 1/4%. This following a big sell off in the stock market which sparked a big rally in bonds.

And now for something completely different: Did you know that it took the inventor of the Rubik’s Cube, Erno Rubik, an entire month to solve the puzzle before introducing it to the public?

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 prices, bonds, Rubik's Cube, 30 year fixed rates, Trulia, Mortgage Market, stock market, economist, puzzles, Mortgage rates, financing

ARAMCO Report - Friday August 29, 2014

Posted by Mehran Aram on Fri, Aug 29, 2014 @ 17:08 PM

Recent rallies in European government bonds and a widening spread versus U.S. Treasuries could potentially lead to tightening of domestic monetary policy. If the European Central Bank decides to provide easier access of funds to European banks, Fed Chairwoman Janet Yellen may be compelled to increase rates earlier than the expected. What does this mean for homeowners? If looking to purchase a home with financing, or refinance your current loan, getting started before the end of the year is probably a wise decision, with 30-year fixed rates currently averaging 4.125% and 15-year rates still at around 3.25%.

And now for something, completely different: Deion Sanders is well known for his athletic ability, but did you know that in 1989 he became the only person to score an MLB home run and an NFL touchdown in the same week?

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: Aramco Report, and now for something completely different, home purchase, bonds, Janet Yellen, European Central Bank, 30 year fixed rates, Loan, government, Deion Sanders, Football, Baseball, Europe, financing, MLB, U.S. Treasury, NFL