ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Thursday April 23, 2015

Posted by The Aramco Group on Thu, Apr 23, 2015 @ 15:04 PM

Tepid national housing news

The number of people who applied for state-level unemployment went up slightly—by 1,000—to 295,000 in the week that ended April 18, 2015 according to the U.S. Labor Department.  This is small compared to the number of people currently receiving ongoing unemployment assistance: 2.31 million, the lowest level since December 2000. This could have a minor impact on the long-term real estate and mortgage markets because public assistance recipients tend not to enter the housing market in the short-term.         

Yesterday the ARAMCO Report shared that completed home sales in California were up 33 percent in March compared to February 2015. However today’s report from the Commerce Department stated that national sales dropped 11.4 percent on average to 481,000 in the same period.

RealtyTrac reported that the number of homeowners nationwide whose home equity is seriously underwater went up .4 percentage points in Q1 2015 compared to Q4 2014. While this is only a slight increase, it is the first quarterly increase since Q2 2012.

Conforming no point 30-year fixed mortgage rates average 3.75 percent while 15-year rates average 3.0 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: home sales, unemployment, unemployment benefits, home equity, 30 year fixed rates, unemployment rate, Underwater

ARAMCO Report - Thursday June 12, 2014

Posted by Mehran Aram on Thu, Jun 12, 2014 @ 19:06 PM

While the number of Americans who filed for unemployment benefits rose slightly last week, according to the U.S. Department of Labor the economy still managed to add 217,000 jobs in May, marking the first four-month stretch of job creation above 200,000 since the late 1990s. Meanwhile, the bond market continues its sideways movement with 30-year fixed rates remaining at around 4.25% and 15-year rates averaging 3.25%.

And now for something completely different: This summer marks the 20th edition of the renowned World Cup, a tournament that has been played worldwide every four years since 1930 with the exception of 1942 and 1946 when it was cancelled due to 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: Reverse Mortgage, Aramco Report, and now for something completely different, Mehran Aram, unemployment, U.S. Department of Labor, unemployment benefits, World Cup, Soccer, bond market, 30 year fixed rates, Mortgage Market, adjustable-rate reverse mortgage, WWII, World War II, economic data

ARAMCO Report - Thursday May 8, 2014

Posted by Mehran Aram on Thu, May 8, 2014 @ 16:05 PM

As less Americans file for unemployment benefits, and layoffs slowly stabilize following weeks of volatility, the overall health of the U.S. workforce appears to be slowly improving. This is evidenced by consumer confidence which remains at its second-highest level in over six years, demonstrating an increased optimism among households. Interest rates remain quite low, with 30-year fixed rates at around 4.25% and 15-year rates averaging 3.25%.

And now for something completely different. Although he was deaf, Beethoven stimulated the ears of millions of people. Beethoven’s 74 minute long Ninth Symphony continues to affect our daily lives, as CDs were designed to contain exactly 74 minutes of music in order to play his final masterpiece in its entirety.

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 Alexander Aram filling in for Mehran Aram with today’s ARAMCO Report.

Ask Mehran Aram 

Topics: Mehran Aram, unemployment benefits, Interest Rates, Aramco Mortgage, workforce, beethoven, low rates, consumer confidence