David Sarnowski's Blog Posts

MORTGAGE RATES CONTINUE FALLING TOWARDS 2 YEAR LOWS

MORTGAGE RATES CONTINUE FALLINGTOWARDS 2-YEAR LOWS REAL ESTATE NEWS: MAY 10,

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EXISTING HOME SALES TUMBLE IN DECEMBER

After gaining ground in November and October, existing-home sales fell last month, dropping 6.4 percent to 4.99 million, the National Association of REALTORS® (NAR) reports. On an annual basis,

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Northeast Midwest Continue To Shed Population

ST. LOUIS – Jan. 2, 2019 – Americans are on the move, relocating to western and southern parts of the country. The results of United Van Lines’ 42nd Annual National Movers

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December Jobs Report Is A Blowout

DECEMBER JOBS REPORT: A "BLOWOUT" THE ECONOMY: JANUARY 5,

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Home Price Gains Slowing

CASE-SHILLER: HOME PRICE GAINS SLOWING THE ECONOMY: DECEMBER 27,

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Existing Home Sales Keep Up Momentum In November

Existing-home sales kept up momentum in November, climbing 1.9 percent to 5.32 million, the National Association of REALTORS® (NAR) reports. On an annual basis, however, sales were sluggish: 7

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Mortgage Rates Lowest Since September

MORTGAGE RATES LOWEST SINCE SEPTEMBER THE ECONOMY: DECEMBER 11,

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Mortgage Rates Hit 2 Year Low

MORTGAGE RATES NOW AT 2-MONTH LOWS THE ECONOMY: DECEMBER 4,

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Is A Buyers Market On The Way

A BUYER'S MARKET ON THE WAY? THE ECONOMY: OCTOBER 18,

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GDP JUMPS OVER 4 PERCENT BEST PACE IN 4 YEARS

US Gross Domestic Product grew at a solid 4.1 percent pace in the second quarter, its best pace since 2014, boosting hopes that the economy is ready to break out of its decade-long slumber.The

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Should We Be Worried About A Housing Slowdown

A monthly report on new residential construction came out this week, showing a big drop in housing starts (the groundbreaking phase following a building permit). Should we worry about a slowdown in

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US Adds 213000 Jobs In June

The numbers: The U.S. created 213,000 new jobs in June, another hearty gain that shows companies are finding ways to fill open jobs despite a dwindling pool of skilled workers.The gain in

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CoreLogic Home Price Index May Prices Up 7 Percent

Analysts are anticipating home prices to tick up, but decelerated to a lesser pace, according to CoreLogic’s latest Home Price Index (HPI®) report.CoreLogic data found that May prices rose1.1

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May Housing Report For Fifth Month Straight Pending Home Sales Slide

In a continuing downtrend, May’s pending home sales slid, declining 0.5 percent for the fifth month in a row (year-over-year), according to the National Association of REALTORS® (NAR) 

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Homeownership Rate Stalls

…And That’s Not a Bad ThingWith distressingly low supply and unprecedented price surges, the homeownership rate is stalling: 64.2 percent in the first quarter of 2018, according to the

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HOUSING CONFIDENCE JUMPS AS SPRING STARTS

Confidence in housing jumped in March in the Fannie Mae Home Purchase Sentiment Index® (HPSI), with the HPSI overall posting 88.3, 2.5 percentage points higher than one month prior and 3.8

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Pending Home Sales Were Mostly Unmoved In November

Pending home sales were mostly unmoved in November, inching up 0.2 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 109.5 in November, up

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Tax Reform Bill Heads To The White House

REPUBLICANS HAVE PUSHED THROUGH THE MOST SWEEPING CHANGES TO THE US TAX CODE IN A GENERATION....How did the plan come together? Congressional leaders set weekly deadlines and hit nearly all of

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Senate Passes Tax Cuts Jobs Act What It Means For Taxpayers

With less than a week until their Christmas deadline, The U.S. Senate passed the most sweeping rewrite of the nation's tax laws in more than three decades earlyWednesday, all but ensuring the bill

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US Housing Sentiment Nears All Time High

Confidence in housing made a near-record return in November in the Fannie Mae Home Purchase Sentiment Index® (HPSI), derived from Fannie’s National Housing Survey® (NHS). The HPSI overall posted

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Existing Home Sales Rebound

Existing-home sales in October were at a pace not seen since summer, the National Association of REALTORS® (NAR) reports. Existing-home sales totaled 5.48 million, a 2.0 percent increase from

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HOME PRICES RAPIDLY RISE

HOME PRICES RAPIDLY RISE | IS HISTORY REPEATING ITSELF?THE ECONOMY: NOVEMBER 14,

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US Homeownership Rate Increases For 2nd Time In 2017

The homeownership rate improved to 63.9 percent in the third quarter—the second time it has inched up this year, slightly topping 63.7 percent in the second quarter and 63.5 percent this time last

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This Weeks Economic Update

FOREIGN BUYERS SNAP UP US REAL ESTATE IN UNPRECEDENTED SURGE$153 BILLION SINCE APRIL 2016 REPRESENTS A 49% INCREASE 

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SELLERS OPTIMISM REBOUNDS IN AUGUST

SELLERS' OPTIMISM REBOUNDS IN AUGUST FANNIE MAE HOME PURCHASE SENTIMENT INDEX UP 1.2%   THE ECONOMY:

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Fed Raises Rates Again

The Federal Reserve voted on Wednesday to raise the key interest rate one-quarter percentage point, ticking off the second of three hikes slated for this year. Analysts largely predicted the,

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Home Buying Confidence Springs Back

Confidence in home-buying is springing back, with more buyers optimistic about their ability to move off the fence and into the market, according to the recently released Fannie Mae Home Purchase

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Low Housing Inventory Holds Down February Home Sales

Existing-home sales sputtered in February as lower-than-low inventory kept a lid on activity, the National Association of REALTORS® (NAR) reports. Existing-home sales totaled 5.48 million, a 3

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Fed Raises Rates At March Meeting

For the second time in three months, the Federal Reserve increased its benchmark interest rate a quarter point amid rising confidence that the economy is poised for more robust growth.The

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Americans More Confident In Housing Than Ever Before

Americans are more confident about their housing prospects than ever before, with more believing now is “a good time” to buy or sell a home, according to the just-released Fannie Mae Home

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Case Shiller Pace Of Home Price Growth Not Alarming

Home prices in the U.S. hiked to their highest level in more than two years in December, posting a 5.8 percent annual gain, according to the recently released S&P CoreLogic Case-Shiller U.S.

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Over Half Of Housing Markets Hit Peak Prices Says NAR

More than half of housing markets saw home sale prices peak at the end of 2016, according to the National Association of REALTORS®’ (NAR) recently released quarterly report, contributing to the

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Fed Keeps Rates Unchanged In Anticipation Of Trump Policy

The Federal Reserve kept the key interest rate unchanged this week as it looks to future fiscal policy under the new administration—a decision in line with its intent to raise rates only gradually

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Surprises From Central Bankers

Over the past week, unexpected comments from central bank officials were negative for bonds. A rally in stocks also hurt bonds, as the Dow rose above the 20,000 level for the first time. Information

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End Of The Year Boost

Over the past week, end-of-year portfolio adjustments appeared to have the most influence on mortgage rates. The economic data and the Fed minutes caused little reaction. Mortgage rates ended the

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Consumer Confidence Jumps

Over the past week, light trading volume caused a little intraday volatility for mortgage rates, but overall it was a relatively quiet week. Mortgage rates ended the week with little change.On

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Fed Changes Hurt Mortgage Rates

Wednesday’s U.S. Fed meeting was bad for mortgage rates. Recent economic data had little impact. As a result, mortgage rates ended the week higher.The Fed’s 25 basis point increase in the

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Offsetting Influences On Rates

Mortgage rates have had to contend with a wide range of mixed news over the past week. Concerns about an upcoming election in Italy were positive, while rising oil prices and stronger-than

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Rising Mortgage Rate Trend Continues

The trend in mortgage rates seen since the U.S. election continued over the past week. Wednesday's report on durable goods orders also applied upward pressure. Mortgage rates increased to the

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Volatility Likely To Continue

Nearly all of the movement in mortgage rates over the past week was related to the election. The U.S. economic data was a much smaller factor. Mortgage rates rose to near the highest levels of the

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Markets React To The Election

The U.S. election caused most of the movement in mortgage rates over the past week. The U.S. economic data was overshadowed by the election and had little impact. Following the Trump victory,

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No Surprises From The Fed

Headlines about the U.S. election caused some volatility for mortgage rates over the past week. The Fed meeting and U.S. economic data had little impact. Mortgage rates ended the week a little.

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Fed Leaders Move Markets

Over the past week, offsetting comments from top Fed officials caused some volatility for mortgage rates but little net change. Tame inflation data was favorable, however, and mortgage rates

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Long Term Bond Yields Rise

Long-term bond yields again were pressured higher over the past week, resulting in higher mortgage rates. Changing expectations for future monetary policy from the European Central Bank (ECB)

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Unfavorable ECB Comments

Over the past week, both domestic and foreign events worked against U.S. mortgage rates. These included hawkish comments from the European Central Bank (ECB) and stronger-than-expected U.S. economic

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No Change In Rates Just Yet

Over the past week, investors were mostly focused on Wednesday’s Fed meeting. The Fed statement was viewed favorably, and mortgage rates ended the week a little lower.As widely expected, the Fed

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Fed Expectations

Mortgage rates moved higher over the past week, and the reason was clear: Expectations for future monetary policy from the U.S. Fed and the European Central Bank (ECB) became more hawkish.Over the

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Offsetting Influences

ECONOMIC UPDATE: September 15, 2016 Mortgage rates had a good start to the week with another weaker-than-expected major economic report. Things changed later in the week, however, with negative news

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Fed Officials Influence Rates

Fed officials were the main influence on mortgage rates over the past week. Recent economic data has been mixed and has had little net impact. Mortgage rates ended the week just

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How To Appeal Your Property Taxes

The National Taxpayers Union (NTU) says that up to 60% of homeowners may be paying too much in property tax. Typically fewer than 5 percent of taxpayers challenge their

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Understanding Your Credit Score And Its Effect On Purchasing A Home

If a home purchase is in your future, one thing you absolutely have to think about is your credit score. No matter what your timing looks like, it’s a good idea to think about it sooner rather

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Offsetting Influences This Week On Rates

Over the past week, there were offsetting influences on mortgage rates. A relatively bond-friendly Fed statement and weaker-than-expected U.S. economic data were positive for mortgage rates.

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Housing Starts Pick Up

The past week was quiet for mortgage rates. The reaction to recent economic data and to a failed coup in Turkey was small. Mortgage rates ended the week just a little.

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Rates Near Record Lows

The most significant economic report of the month contained a big surprise, but it had remarkably little impact on mortgage rates. Over the past week, the main influence continued to be a

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Brexit Benefits Rates

The improvement in U.S. mortgage rates continues as the financial markets consider the impact the British vote to leave the European Union (Brexit) may have on global

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Rate Hike Less Likely

A big miss in Friday’s key jobs report caused a significant improvement in mortgage rates. A new stimulus program from the European Central Bank (ECB) also was positive. As a,

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Stronger Chance Of UK Euro Exit

The main influence on mortgage rates over the past week came from an unexpected source. Investor expectations for the UK to vote to leave the European Union (EU) increased, which was viewed as

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Sales Of New Homes Surge In This Weeks Economic Data

Following a volatile period due to increasing expectations for federal funds rate hikes by the Fed, mortgage markets were relatively quiet over the past week. Speeches from Fed officials,

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Investors Pleased By Yellen Comments

Even though it took place less than two weeks after the last Fed meeting, Fed Chair Janet Yellen’s speech on Tuesday was by far the biggest event this week. Her message was well

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Economic Update

Mortgage rates have been relatively stable since their improvement on March 16 following the Fed meeting. Neither the economic data nor the terrorist attacks in Brussels caused much movement

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This Weeks Economic Data

Most of the economic data released over the past week was stronger than expected. This raised the outlook for future inflation, which was negative for mortgage rates. As a result, rates ended

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