There are several ways that you can save…. (seattle houses for sale)
There are several ways that you can save money through your finance options, which is why you should always research what’s available to you before you buy.
Home prices bound to fall
Mortgage bond prices — I’m talking prices right now, not yields — are falling just a bit today, but aren’t breaking through the 200-day moving average.
A rough day for bonds
Bond yields rose about 15 basis points. Long-term, fixed mortgage rates went up by about the same margin — an eighth of a percentage point or maybe a bit more.
You will find that your home is better marketed, that you don’t have to rely on the luck of a drive by, that you save a great deal of money, and that you are linked in with thousands of realtors who essentially end up working for you if you are on the MLS.
Yields up, rates down
Yesterday the Federal Reserve cut its target for the overnight federal funds rate by half a percentage point. The 10-year Treasury has gone up 13 basis points since last Wednesday.
In fact, there is a direct correlation between the amount a homebuyer pays in mortgage down payment and the rate of mortgage defaults.
New home sales plunge, too
New home sales were at a seasonally adjusted annual rate of 795,000 units, a decline of 21 percent compared to the previous August.
Putting the FHA on the hook
This week, the House passed H.R. 1852, known colloquially as “FHA modernization” and officially as the “Expanding American Homeownership Act of 2007.”
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