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Buyers Take The May 2010 New Home Sales Data All The Way To The Bank
Jun - 25
One month after the federal homebuyer tax credit’s official expiration, the New Home Sales report turned in its worst showing ever.
In May 2010, for the first time in 11 months, the inventory of unsold new homes crossed the 8-month marker, posting an 8.5 month supply overall.
Additionally, new homes sales volume fell ...Continue Reading »
A Simple Explanation Of The Federal Reserve Statement (June 23, 2010 Edition)
Jun - 23
Today, in its first meeting in 5 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains within its target range of 0.000-0.250 percent.
In its press release, the FOMC said that, since April, “the economic recovery is proceeding” and that the jobs market “is improving gradually”. Business spending ...Continue Reading »
May 2010 Existing Home Sales Is Better Than The Headline Data Suggests
Jun - 23
Existing Home Sales dropped in May for the first time in 3 months but still managed to post its second-highest since November 2009, buoyed by the expiring federal tax credit program.An “existing home” is a home that cannot be considered new construction; a resale of an existing home. Existing Home ...Continue Reading »
Making A Mortgage Rate Strategy Ahead Of The Fed’s Meeting This Week
Jun - 22
The Federal Open Market Committee begins a 2-day meeting today, its fourth scheduled meeting of the year, and fifth overall.The FOMC is the monetary policy-setting part of the government and its primary tool for that purpose is the Fed Funds Rate.
The Fed Funds Rate is ...Continue Reading »
The Largest Historic Homes In The United States
Jun - 21
In 2009, the median size of new homes started was roughly 2,100 square feet. This figure was down from 2,200 square feet between 2005-2007 which, itself, was down from 2,350 in 2004.Homes are getting smaller across the United States.
But, as compared to the nation’s largest homes, the shrinking is laughable. The ...Continue Reading »