Follow Me On:

Subscribe to YOU Magazine and other timely market alerts from Thomas Pasckvale.

		Thomas Pasckvale President/Owner NMLS: 22859 Top Vine Mortgage Services, LLC Phone: 844-545-9251 Fax: 855-631-8856 Company NMLS: 1390034 tpasckvale@topvinemtg.com www.topvinemtg.com

October 2014 September 2014 August 2014 July 2014 June 2014 May 2014 April 2014		Job Uncertainty Outweighs Attractive Low Rates In early September, interest rates for U.S. home loans dropped to their lowest levels in over a year, according to Freddie Mac. Despite these rate decreases, less homebuyers got off the fence and into new homes. This carried over to the decrease in loan applications, which were down 12 percent on the year ending in August. The coming months are especially crucial for home loan rates, as the Federal Reserve completes its "tapering" of Bond purchases, and particularly Mortgage Backed Securities. The program was credited with boosting the housing industry since its inception in late 2012. And since home loan rates are tied to Mortgage Bonds, any significant Bond market activity impacts financing for housing. According to the August National Housing Survey conducted by Fannie Mae, prospective homebuyers may be hesitant to commit to mortgages due to job instability and lack of income growth, in addition to tighter credit standards. These are the primary short-term concerns for housing ahead of interest rate fluctuations. Fall Season, Falling Prices? A September report from Redfin forecasted that the fall season could see a small rebound in U.S. home sales, as well as lower prices. According to the report, "The number of homes that sold above list price in July was down nearly 26 percent from a year ago." Indeed, at the end of August the S&P/Case-Shiller Index of property values showed its smallest 12-month gain since January 2013. Lower prices, still-low home loan rates and more supply could push sales higher. "While home prices have clearly moderated nationwide since the spring, the geographic drivers of price increases are shifting," said Sam Khater, deputy chief economist at CoreLogic. Warmer climates in the west and southwest will continue to attract homebuyer interest well into autumn, added to consistently hot markets in the northeast. The Bottom Line Home loan rates remain near their lowest levels in months. If you would like to inquire about housing and home loan eligibility, please contact me. I hope you enjoy this month's issue of YOU Magazine.

You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Thomas Pasckvale. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials. INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe. SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online. UNSUBSCRIBE: If you would like to stop receiving emails from Thomas Pasckvale, you can easily unsubscribe.

Top Vine Mortgage Services, LLC 786 Mountain Blvd, Suite 202 Watchung, NJ 07069

Powered by Platinum Marketing © Copyright 2024. Vantage Production, LLC.