Not only does the Labor Day weekend signal a little time off work, but it also indicates a close to the summer season, which means it’s time to get ready for colder weather.
So get in the spirit of the long weekend and put the labor of love into your home by creating a cozy hideaway that your family can retreat to once the outdoors become too chilly.
One of the best places to create this snug space is to mimic hibernating animals and go under ground — to the basement. Continue reading
The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July.
According to the organization’s Pending Home Sales Index, this was the second straight month that pending home sales dropped. July’s Pending Home Sales Index reading was 109.50. Continue reading
Home prices are still rising, but at a slower pace according to the S&P Case-Shiller Home Price Indices for June. Home prices for the cities surveyed in the HPI rose by 12.10 percent on an annual basis as compared to May’s reading of 12.20 percent.
This is the highest rate of monthly growth for home prices since the peak of the housing bubble in 2006.
June’s home prices remained approximately 23 percent lower than peak prices, but economists consider the bubble peak an anomaly and caution against comparing current home prices to the peak prices seen in 2006. Continue reading
The National Association of REALTORS reported that existing home sales for July came in at 5.39 million on a seasonally adjusted annual basis. July’s reading exceeded both expectations of 5.21 million existing homes sold and June’s reading of 5.06 million homes sold.
This suggests good news for home buyers who’ve been constrained by limited supplies of homes for sale. Continue reading
Last week brought mixed economic news, but Leading Indicators released Thursday suggest that the U.S. economy is growing at a moderate rate.
Mortgage rates for fixed rate loans were higher, but the average rate for a 5/1 adjustable rate mortgage was unchanged from the prior week. Weekly jobless claims were also higher. Continue reading
You’re brushing your teeth and you turn on the faucet. It’s not draining and starts to back up. Here’s the dilemma; do you spit and let it sit or run to the kitchen? One thing is for sure; having a clogged drain can be a major annoyance.
Clogs not only frustrate a homeowner but they can be hard on your plumbing. The added pressure they create puts stress on your pipes and can shorten their lifespan.
So end the issue by following the guidelines below. You’ll learn how to prevent clogging and clear the ones you already have. Continue reading
The minutes of last month’s Federal Open Market Committee (FOMC) meeting show significant support for tapering the Fed’s current amount of monthly securities purchases. These purchases, known as quantitative easing (QE), are an effort to maintain lower long-term interest rates including mortgage rates.
The Fed has been buying $85 billion per month in Treasury securities and mortgage-backed securities (MBS).
Ben Bernanke, chairman of the Federal Reserve and FOMC has hinted at “tapering” the Fed’s securities purchases by year-end in recent statements. The FOMC minutes released Wednesday further suggest that tapering based on strengthening economic trends is likely. Continue reading