Mortgage Rates continue in a sideways pattern, just above key technical levels while Stocks retreat after yesterday’s huge rally.

In housing news, both September Housing Starts and Building Permits declined from August while single-family starts also decreased.

The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose to the highest level since February 2011. From a historical standpoint, rates are near the lower end of the spectrum.

I am recommending floating but be aware that the Fed minutes will be released this afternoon and could have an impact on the markets.

No matter how many mistakes you make or how slow you progress, you are still way ahead of everyone is isn’t trying. 

-Tony Robbins

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

 

 

Higher Stock prices are capping any gains in the market as prices as well as yields are near unchanged.

The Labor Department reported a record high number of job openings in August as the sector continues to strengthen.

I am recommending floating, but Mortgage Rates are on shaky ground after the labor market report.

Don’t watch the clock; Do what it does. Keep going. 

-Sam Levenson

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

 

Mortgage Rates begin the week modestly higher being supported by a weak Retail Sales report along with lower Stock prices.

In housing news, Trulia reports that price cuts for homes on the market in August hit their highest level since 2014.

With the Stock markets lower today, I am recommending floating.

If opportunity doesn’t knock, build a door.

-Milton Berle

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

 

After the recent steep plunge, Stocks are rebounding this morning and are weighing on Rates.

Stock investors are looking for bargains after the mini-correction, which is always healthy given prices recently hit all-time highs.

Today I will continue to recommend floating.

Life is very short and what we have to do must be done in the now. 

-Audre Lorde

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

 

Tame consumer prices in September are lifting rates while lowering yields this morning. Stocks have trimmed early morning losses on the lower inflation data.

Freddie Mac reports that mortgage rates rose this week and are now at seven-year highs, similar to what the Mortgage Bankers Association reported on Wednesday.

However, when looking at mortgage rates since 1971, they are on the low end of the spectrum.

I am recommending floating if rates can remain positive.

 

Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.

-Francis of Assisi

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

Mortgage Rates are drifting a little lower, giving up some of yesterday’s gains thanks to year over year gains in wholesale or “Producer” inflation.

The Mortgage Bankers Association reports that mortgage rates rose in the latest week to levels not seen since February 2011.

I am recommending floating to start the day but be on guard for any sudden reversal in sentiment.

The meaning of Karma is intention. The intention behind the action is what matters.

-Bhagavad Gita

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

Mortgage Rates begin the holiday shortened week near unchanged and off the worst levels as prices attempt to recuperate after last weeks plunge in prices and the rise in Mortgage Rates.

There were no economic reports due for release today.

To begin the week, I am recommending floating.

One customer well taken care of could be more valuable that $10,000 worth of advertising.

-Jim Rohn

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

 

 

The solid September Jobs Report pushed Mortgage Rates are a bit lower this morning, despite a decline in the Stock markets.

Job growth slowed in September due to Hurricane Florence, but July and August were revised higher while the Unemployment Rate fell to a 50-year low.

Heading into the weekend, I am recommending locking until I can see some stabilization for Rates.

I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.

-Jim Carey

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

 

 

by Shelley Seale, RPSRelocation.com

Every year, one out of five American families move. One of the most important issues to anyone with kids is their reaction to the news that they’re moving and their adjustment to the new home. Being informed is very important to children. One of the worst mistakes we can make as adults is to assume that kids don’t care or won’t understand the details. Keeping them “in the loop,” consulting them about choices whenever possible, and including them in the family game plan will work wonders toward their adjustment.

Other factors depend on the child’s age:

Preschool Children
Kids under the age of six may worry about being left behind, or being separated from their parents. If you go on an orientation or house hunting trip beforehand without the children, it’s important to reassure kids this age that you will be back. Bring something unique back to them from the new town. It’s very important for them to express their feelings and fears about the move. Give them a job to do — have them be responsible for boxing up their favorite toys, and “labeling” their boxes with crayons and stickers.

Ages 6 to 12
Elementary age kids are usually most concerned with how the everyday routines of their lives are going to change. Showing them pictures, videos and magazines of their new home will help a lot, especially if you can find new places in advance for the things they like to do. If your children take dance lessons, find and share information about the new dance studio they can go to. If they take karate, or play soccer…even if their favorite thing to do is go to the park or the pizza parlor, find these places in your new neighborhood and get brochures, pictures or videos.

Teenagers
These kids are most concerned with fitting in. They may react angrily to the move, even insist they’re not going. This is usually due to the total lack of control they have over everything important in their lives, friends, school and jobs, being disrupted. These children can be very worried about making new friends, and what will be different in the new school. They are curious about the clothing, hairstyles, bicycles, cars, etc. that kids in the new city will have. Pictures of all these things are very helpful, so if you take an orientation trip be sure to take many detailed photos/videos of the schools they will be attending.

Other Tips for Making the Transition

  • Give young children an entertaining travel kit for the move.
  • Give older children a diary for recording the trip and move.
  • Give children of all ages a special address book and stationary set for keeping up with old friends.
  • Take videos of the new home if the kids won’t get to see it before the move.
  • Arrive well before the movers so kids can explore and become acquainted first.
  • Give children a chore to do, such as working on their room (younger), supervising little siblings (middle), and painting or arranging furniture (older kids).
  • Take a break with the family as soon as possible to explore the museums, sights and recreation in your new city.
  • Arrange a visit to new schools and a meeting with the teacher before the actual first day of attendance.
  • Encourage the children to bring new friends home.

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

by Shelley Seale, RPSRelocation.com

  1. Not Having Enough Details & Demographics About Your New Hometown
    Gather as much information as possible about your new destination, from sources such as the internet, Chamber of Commerce newcomer packages, location magazines and your real estate professional.
  2. Not Having Your Home Priced and Ready to Sell
    Check your home thoroughly for all needed repairs before listing it for sale. Pay attention to details such as gapped caulking, chipped tiles, paint, etc… It’s often these little things that potential buyers will notice. Also, have the home professionally cleaned, including carpets. If you haven’t had your home appraised in the last two years, do it before putting the home up for sale. Also, have one or two real estate professionals give you a comparable market analysis. This will show what other comparable homes in your neighborhood have sold for recently. Over-pricing your home at the outset will result in slow showings and a delay in selling.
  3. Poor Research of What Your Money Can Buy in Your New City
    Many factors such as differing salary, cost of living, taxes and housing prices affect what the same dollar can buy in different parts of the country. Resources such as the local Chamber of Commerce, real estate professionals and neighborhood reports can give you this information.
  4. Not Getting a Mortgage Prequalification Letter Before House Hunting
    While prequalifying with us doesn’t provide final loan approval, it does give you a realistic price guideline and shows sellers that you are a serious and qualified buyer.
  5. Not Protecting Yourself with the Best Home Inspection Possible
    This goes for both the home you’re selling as well as the one you’re buying, although who pays for the inspection (buyer or seller) is negotiable in each separate contract. A good inspector should be a member of the ASHI (American Society of Home Inspectors); bonded; licensed; insured; and able to provide references, an up front quote of his/her fees and what is included (are termite inspections extra, for example). Your real estate professional or mortgage originator can recommend a certified inspection company.
  6. Setting Up the Best Interim Housing Between Destinations
    When you first arrive in your new town, you’ll most likely need to have temporary housing arrangements until you can close and move into a new home or find a permanent rental. This may be anywhere from a few days to a few months. If you foresee needing interim housing for less than 30 days, the easiest option is a suite hotel geared for extended stays. For a month or longer, corporate apartments or homes are much roomier, more comfortable, and usually 20-60% less than paying a daily or weekly hotel rate.
  7. Moving Your Household and Safely from Point A to Point B
    Depending on the size of your household and the distance of the move, you may want to consider hiring a moving company. Obviously, doing it yourself can save quite a bit of money; however, the time factor, experience of professional movers and the insurance they provide your contents may make hiring the better choice. Moving companies can give you either a binding or non-binding estimate. Binding means that the cost is held to exactly the estimate they give; this means that they will actually physically inspect your home before giving the estimate. A non-binding estimate is only an approximation and no guarantee that the final billing won’t be more. However, federal law sets a ceiling of no more than 10% additional charges over the estimate. You will also want a moving company that can guarantee the pickup and delivery dates.
  8. Having a Trailing Spouse Who Needs to Relocate into a New Job
    In the year 2000, 65% of all households had two incomes, creating a significant burden when losing one income as a result of relocation. 27% of companies provide spouse employment assistance; if yours is one of them, take advantage of it. If not, try to begin establishing a network before you arrive, contacting any friends or acquaintances in your new city; subscribing to the newspaper; contacting recruiters, placement firms and career counselors; contacting the chamber of commerce and employment commission; and joining organizations, especially networking ones. If a job still hasn’t been landed by move time, consider volunteering or joining a temporary agency. Great full time careers have been started from both.
  9. Finding the Best New Schools for Your Children
    Concerns about family and children is the second most frequently cited reason for reluctance to move. There are many ways to find out all the information you need to make a wise decision. If you haven’t decided on a particular area of town, the chamber of commerce can give you a wealth of statistics on all local school districts, as well as private schools. Using the internet can also provide excellent information. If you have decided on a particular area, your real estate professional can get you a school district information package.
  10. Concerns Over Your Children Making a Smooth Transition
    In addition to educational concerns, we also worry about the emotional effects of a major move on our children. They may be resisting the move; may even be angry. Will they adapt well? Will they make new friends? Probably the best way to ease the way is to involve the kids in the move. Provide them with the same information about your new town that you have. Rent or buy videos about your destination to watch as a family. There are also many excellent books geared to children of all ages.

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.