ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Wednesday March 25, 2015

Posted by The Aramco Group on Thu, Mar 26, 2015 @ 13:03 PM

The US Department of Labor provided news of a healthy U.S. labor market in its most recent job report: layoffs are currently rare and initial unemployment claims are at a 15-year low. This means that businesses are not concerned with the economy slowing down in the first quarter of 2015, but numerous instabilities prompted an unusual dual sell-off in both stocks and bonds over the last two days. More volatile securities like stocks and less volatile securities like bonds often respond to market news in opposite directions. Simultaneous decreases, even slight ones like the current one, signify divestment from the market rather than the reorganization of portfolios. Mortgage bonds decreased slightly in this downwards trend, which pushed average mortgage rates slightly higher. Conforming no point 30 year fixed rates continue to average approximately 3.75 percent but 15-year rates are now averaging 3.125%. 

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: U.S. Department of Labor, bond market, labor market, 30 year fixed rates, jobs, labor, Mortgage rates, stock prices, jobless

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

ARAMCO Report - Thursday January 29, 2015

Posted by The Aramco Group on Mon, Feb 2, 2015 @ 11:02 AM

A large drop in initial jobless claims—to their lowest level in 14 years—was offset by a disappointing drop in December pending home sales. This despite record-low mortgage rates and a much stronger labor market. Meanwhile according to the U.S. Department of Commerce, in anticipation of a hot spring home buying season, homebuilders are increasing their building of speculative homes. 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 in Armenia the game of Chess has become a mandatory school subject for every child over the age of 6? That’s an excellent “move” more countries should consider.

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: labor market, 30 year fixed rates, Armenia, U.S. Department of Commerce, Speculative Homes, Chess

ARAMCO Report - Thursday August 21, 2014

Posted by Mehran Aram on Thu, Aug 21, 2014 @ 17:08 PM

The latest economic data provided further proof of an improving labor market and a continuing recovery in U.S. housing. Last week jobless claims fell to the lowest level in 8 years while existing home sales rose 2.4% last month to their highest level since last September. But despite the better than expected economic data, conforming no point 30 year fixed mortgage rates still average 4 1/8th with 15 year rates closer to 3 1/8th.

And now for something, completely different: Most of us love chocolate here in the U.S. But did you know that the tine country of Belgium produces 172,000 tons of chocolate a year?

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, and now for something completely different, labor market, U.S. Housing, Belgium, 30 year fixed rates, chocolate, Mortgage rates