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Oregon Financing Update

The job numbers for March give us another indication of where our economy is headed in the short-term. The headline numbers showed 103,000 jobs added and an unemployment rate of 4.1%. While the number of jobs added was disappointing, the report followed a very high number of jobs added for the previous month which was not revised downward. In addition, each month we look at wage growth to see whether inflation is starting to rear its ugly head. March saw wage inflation in line with expectations — a good sign.

The markets are also watching for movements in the labor participation rate, as this measure tells us where there is potential for growth in employment. Even though the headline numbers say that we are at full employment, there are millions who are available to come back into the workforce. When there is more demand for workers, those who are not participating are more likely to become employed, thus raising the labor participation rate. In March, the labor participation rate fell slightly from a five month high and thus there continues to be room for improvement within this indication.

Considering that the markets have turned much more volatile since the first of the year, what do these numbers tell us? To answer that question, we must understand why the markets seem to be uneasy. It is very easy to blame rising interest rates and certainly the movement of rates is a factor. But we must also remember that the markets have had quite a run and there is always a concern as to when the markets might lose some energy. In reality, there are several factors at work and the jobs numbers only serve to put one other factor into the pot which is being stirred enthusiastically this year.

RISING INTEREST RATES – WHERE ARE WE HEADING?

All good things come to an end—even low interest rates on home loans. They’ve been steadily rising and are poised to climb even higher this year. When they do, the cost of buying a home will rise as well. This could make the challenges of today’s buyer’s market even worse for some prospective purchasers—particularly first-time buyers, having to settle for smaller abodes, fixer-uppers (in the real sense, not the TV sense), and homes farther out where real estate is cheaper. Rates on home loans are expected to go up even more as the Federal Reserve raises short-term interest rates.

The new Fed chairman, Jerome H. Powell, says the Fed is likely to gradually increase them this year. It is expected to bump up rates at least three times this year, in 0.25% increments. “For the bulk of buyers, it’s not going to kill their decision to purchase a home. If anything, it will get them off the fence by creating a sense of urgency,” says Rick Palacios Jr., director of research at John Burns Real Estate Consulting. Higher rates are “a kick in the pants for you to start thinking seriously about buying.” “Buyers thought they could wait forever because rates were going to stay low forever,” says Palacios. “They’re starting to realize if they’re going to buy they should probably buy now.” Source: Realtor.com®

There was a lot of flipping in 2017 with 207,088 single-family homes and condos flipped nationwide, 5.9% of all homes sold. It was a 1% rise in flipping year-over-year and meant an 11-year high in volume terms, and 4-year high in share of sales, according to a report from ATTOM Data Solutions. There was also a 10-year high in the number of entities doing the flipping; a total of 138,410 individuals or institutions, up 4% from 2016. Despite the rise, ATTOM’s senior economist Daren Blomquist says that, rather than mirroring the frenzy of just over a decade ago, this was more considered.

“Flippers are behaving more rationally, as evidenced by average gross flipping returns of 50% over the last three years compared to average gross flipping returns of just 31% between 2004 and 2006 — the last time we saw more than 200,000 home flips in consecutive years,” he said. Source: ATTOM Data Solutions

Foreign Investors Coming To U.S.

Residents from other countries are increasingly eyeing U.S. real estate as a good investment, and they’re making up a significant portion of buyers in some markets. But who is coming is changing.

Chinese buyers have been the biggest portion, spending the most of any foreign group on U.S. real estate. They spent $31.7 billion on residential real estate in the U.S. between April 2016 and March 2017, according to the National Association of REALTORS®. But mainland China has since tightened restrictions on how much capital residents can spend outside the country. That has caused some markets to see a drastic decrease of Chinese buyers. “You turn off one faucet, and another one opens,” says Jonathan Genton, the founding partner and CEO of the Genton Property Group. Buyers from other countries have been coming in to fill the gap. For example, Genton is seeing more buyers coming in from Taiwan, Vietnam, and Thailand and more investors from Dubai, Kuwait, Georgia, and Turkey. “

Everyone recognizes the stability and security of the U.S. market more than ever before,” Genton says. “Foreign buyers make up a significant presence in the U.S. luxury market that will only increase as generations come here to study and geopolitical and safety factors continue to play a role,” Shahab Karmely, the CEO of KAR Properties, a New York-based development firm, told Mansion Global. Source: Mansion Global

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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Economic Commentary

As I have mentioned previously, it has already been a busy year with major storms, wildfires that turned into mudslides, a new tax plan and the in-fighting in Washington seemingly getting worse. And that is just the first month of the year. We end the first month and start the second month with another busy week, at least on the economic front. This week we have the first meeting of the year for the Federal Reserve Board and also the first reading on jobs which contains 2018 data.

Thus far this year it seems that the economy continues to move forward, even without the anticipated effects of the tax plan. Of course, the anticipation itself has fueled much optimism which can be seen in record stock market closes. The performance of the economy is all about optimism. Since the Fed just raised their benchmark rates in mid-December, most analysts are not expecting another increase so soon. However, even if they do not raise short-term rates at this meeting, they will be discussing how much and how quickly they will be raising rates this year.

How much and how fast will depend upon the strength of the economy. And major evidence of this strength will be released a few days after they meet in the form of the January employment report. December’s job gains were a bit under forecast, and thus we will be looking at not only January’s numbers, but revisions to the previous months’ data. A really strong report could move the Fed to raise rates at their next meeting in March. Even if they do not, one thing is certain — unless something happens to derail the economy, their only move is up this year.

Rental Market

Renters are feeling the financial pinch in housing. Median rent across the nation rose 2.6 percent since last December, the fastest pace of appreciation since June 2016, to a median payment of $1,439 per month — the highest median rent Zillow has ever reported. Zillow also noted there was synergy between rent prices and incomes, with the latter increasing 2.5 percent year-over-year. “After about a two-year slowdown, rent growth is starting to pick back up across the nation,” said Zillow Senior Economist Aaron Terrazas. “The slowdown in rental appreciation, combined with consistent income growth, gave renters some reprieve from worsening rental affordability over the past few years. But as rental growth begins to catch up with income growth, affordability will deteriorate, placing a squeeze on budget-constrained renters. Looking into 2018, rent is expected to continue gaining steam in growing employment centers.” Source: Zillow

National Real Estate Market

A vast majority of Americans are confident that they will be able to pay off their home loans and achieve other long-term financial goals, according to the results of an Investor Pulse Poll released by Morgan Stanley. The survey revealed that 91% of respondents believed that they are on track to achieve their long-term financial goals. Paying off a home loan was revealed to be a priority long-term goal for the respondents at 32%. Other top long-term goals were saving for retirement at 35% and transitioning wealth to the next generation at 33%. Slightly fewer millennials, or those between 25 and 35, were confident that they were on their way to reaching their long-term financial goals; 88% of respondents in the age group said they believed they were on track. Their long-term financial priorities were similar with those of all respondents, with 42% saying paying off a mortgage was a top goal. Other priorities were saving for retirement at 44% and paying for the education of a child or grandchild at 35%. Source: Morgan Stanley

American Enterprise Institute’s Center on Housing Markets and Finance Co-director Edward Pinto gave four points he expects to see from the housing market in 2018. Many of his predictions, including low inventory and rising home prices, are shared by other housing experts. However, Pinto forecasted home prices will increase at a faster rate in 2018, while other experts expect they will slow down.

  • The historically tight supply of single-family homes will tighten further in 2018 after hitting a record low in November 2017.
  • The national home price boom that began in mid-2012, will continue, and given the unprecedented low levels of inventory, will even accelerate further:
  • First-time buyers will face even higher home price gains for entry level homes and first-time buyers will continue to take on even more leverage in an effort to keep up with the home price gains on entry level homes. Source: HousingWire

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates slowly increasing but there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods!

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate Oregon Financing Update

We had a few housing data points out this past week which are important to note. First off, the FHFA’s monthly Home Price Index provided some further evidence of the continued increase in home prices, even amidst the extreme lack of inventory. The monthly increase for April was .7%, bringing the year-over-year increase to 6.8%. If we take a look at the individual numbers, the best performers continue to be the Mountain (+8.9%), South Atlantic (+8.0%), and Pacific (+7.5%) regions.

In other news, New Homes Sales for May rose by 2.8% to a seasonally adjusted rate of 610k. April’s rate of 569k (-11.4%) was revised up to 593k (-7.9%). Apart from volatility in March and April, primarily due to pretty wild sales swings in the West, new home sales have been on a steady average of 605k per month over the past four months.

In a Thursday interview with the Wall Street Journal, St. Louis Fed President Bullard said he supports beginning the process of trimming the Fed’s balance sheet, however he sees no reason for the Fed’s projected rate path to be so steep. Regarding the balance sheet, Bullard would like the Fed to start the cash flow roll-off “sooner rather than later,” adding “We’ve outlined an approach that is going to be very much a go-slow approach, and so I think we could start the ball rolling. It’s going to roll very slowly anyway.” Addressing the recent inflation weakness, he said, “I’m open to the idea that maybe there was just some noise in there, that’s possible, but it looks more broad-based to me, and now with other corroborating factors like the 10yr yield coming down to low levels, oil prices falling, it just doesn’t look like there’s a lot of price pressure.” This is why he says the 3 hikes-a-year pace the Fed continues to project is “unnecessarily aggressive.”

As we look at the markets, interest rates continue to grind sideways, as equities have seen a slight decline to end the week, while crude prices continue to hover near their lowest levels in ten months. Looking at Treasury yields, the 10yr continues to trade our short-term range of ~2.13-2.22% and we expect this range to continue until the next ‘bigger’ headline hits the newswires.

Our bias remains neutral for the time being, however, technical charts still suggest a trade to lower rates is very possible. A break under 2.13% brings the talks of a 2% yield back to the table. If we see the market consolidate and we trade up through the 2.22% level, you can expect the next line in the sand to come in around 2.30%.

Until we have a bigger headline event, we expect to chop throughout the range with possible tests on either extreme. Looking ahead to this week, we have a healthy mix of Fedspeak, along with a few top tier data points with Durable Good and GDP.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws.

 

Lake Oswego Real Estate Oregon Financing Update

Oregon Financing Update

What a wild ride this week has been.  New low yields on the 10 year note. Housing Starts fell 5.5% in May, worse than market consensus.  Permits were also weak, dipping 4.9%.  All components showed declines with single family starts off 3.9% with permits for single family off 1.9%.

Part of this is due to a shortage of lots and labor. Jobless Claims fell 8K to 237K with the 4 week moving average now at 243K which were right in line with May. This should produce strength in the June Employment Report.

The Philly Fed Business Outlook fell sharply from 38.8 to 27.6 in June yet the May figure looks like an outlier to us.  New orders continue to hold up at 25.9 versus 25.4 with backlogs rising 5 points to 14.  Solid results out of the Philly market.  The Empire State (NY) Manufacturing Survey jumped from -1 to 19.8 which may be the largest one month jump in the history of the index.

With the Fed and most of the high tier data out of the way for the week, we’re seeing a new range trade developing between 2.08% and 2.18%.  Currently we are testing the upper limit of this range at 2.164%. At the same time, we see the FOMC raising rates by .25%.  They have telegraphed this to the market for months and with 88% of participants expecting it, we see it as a done deal.

We also feel that this will be the last hike this year, forgoing any additional hikes in 2017 given the current state of the economy.

 

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws.

Lake Oswego Real Estate Oregon Financing Update

After equities rebounded in Thursday’s session, we opened Friday morning with most major indices across Asia, Europe, and the U.S. posting more positive results. In turn, Treasury yields have traded back higher, as we close out what has been a rather volatile week. After the continued “political bombs” hit the tape one after the other this week, Friday gave us a bit of breather with an empty-data day.

Looking ahead to next week, the calendar will include a good mix of eco data and Fed activity, primarily starting with Wednesday’s release of the FOMC Minutes, followed by GDP and Durable Goods Orders on Friday.

Interest Rates

Looking at interest rates, it’s probably a little too early to tell what exactly lies ahead in the coming week(s). We think a slight consolidation was justified, especially after seeing such a strong move lower in yields primarily driven off of political headlines. Going forward, we think the market will now work itself more into a “sideways” motion, that is, until the next big headline hits the newswires. We are marking a short-term range for the 10yr at ~2.17-2.26% and we can expect that range to continue into next week. While we see the 2.17% mark as more of a “minimum” target, the larger time frame charts point to a ~1.92% low.

Given all of the crosscurrents in DC, combined with a lot of very mixed economic data on a global basis, we wouldn’t at all be surprised to see another stronger push lower in rates. That said, we all need to be careful with how volatile this market is and how fast it can turn … keep in mind that we are only one headline from going the other direction to higher rates. Bottom line and our current bias, when the market gives you an opportunity, take it and move on.

https://lakeoswegorealestateblog.wordpress.com/

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws.

 

Lake Oswego Real Estate Oregon Financing Update

If we take a quick recap of the past week, there were three top headlines that consumed the newswires. We saw the FOMC statement on Wednesday, the House passing the Health Care Reform Bill on Thursday, and the Non-farm payroll report for April on Friday. Starting with the FOMC on Wednesday, there was little excitement that came from the Official Statement. The Fed Funds rate was left unchanged with no signals of any definite rate hike coming in the June meeting. The Fed did note that the economic data of late has been on the softer side, specifically with consumer spending weakening. Inflation, although still below the 2% target, is still expected to reach that mark within the next 12 months. There were no comments made about the balance sheet reinvestment except that the Fed will continue to buy MBS as they invest the proceeds of the current book. Overall, no real changes out of the Fed and market reaction was overly muted.

Thursday, we saw the House vote and pass the Health Care Reform bill by a vote of 217-213. As expected, the new bill would eliminate many of the provisions of the Affordable Care Act. President Trump promised that premiums and deductibles will be coming down under the GOP plan and said that he feels “confident” the measure will make it through the Senate. Bottom line is that both parties agree that if something is to be done, it’s going to be a long road ahead.

Finally, non-farm payrolls for April were released Friday, showing 211k new jobs. The headline was better than market expectations of a 190k increase. Diving into the number, the government saw a strong showing for April as jobs grew by 17k in that sector. Private payrolls grew by 194k, which was close to market consensus. Looking at revisions, the March report was actually revised even lower on the headline number, down to only 79k new jobs from a previously reported 98k. If we look at the total now between March and April, the data shows a 290k job creation which is back in line with what economists are projecting. To conclude, the unemployment rate surprisingly dropped to 4.4%, average hourly earnings rose .3%, while the average workweek notched up from 34.3 to 34.4. Overall, the April data is unlikely to change any of the Fed’s outlook and does not remove a June rate hike from the cards.

Looking at the market and interest rates, the 10yr note has made its way back toward support around ~2.35/36% this week. A push through that level would suggest yields test a ~2.39%, then ~2.45% level in the week(s) ahead. For us to have a shot at lower rates again in the short-term, 10s would have to see a strong push back through resistance around ~2.24%. Until that time, a defensive strategy is what we continue to suggest, meaning lock in your loans and move on down the road. Looking ahead to next week, the overall schedule is on the lighter side to start us off, but CPI and Retail Sales data will come into play on Friday.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws.

 

 

Market_Rates

Lake Oswego Real Estate Oregon Financing Update

Non-farm payrolls for September were a miss at only +156k new jobs. Market expectations were in the neighborhood of 166k-180k. The unemployment rate also rose to 5% and the participation rate rose from 62.8% to 62.9%. Average hourly earnings rose +.2% and brings the year over year rate to 2.6% as expected.Market_Rates

All in all, this should still keep December on tap for a possible rate hike by the Fed as the numbers are still considered ‘solid enough’. Market reaction to the numbers this morning was overly muted and 10 yr yields look to settle out the week right around the support level of 1.74-1.75%.

As we look ahead to next week, we will have a shortened week due to the Monday holiday so things won’t get going until Tuesday. We expect the market to still hold the 1.75% level, however, if broken early in the week, we can expect rates to be on the rise.  Advice to clients would be to get locked in and move on down the road.

don_mackayThinking of Selling Your Lake Oswego Home?

Prices have slowed since July in Lake Oswego and you may want to know the value of your home in today’s Lake Oswego real estate market. Interest rates are still low and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate Oregon Financing

Oregon Financinghttps://lakeoswegorealestateblog.wordpress.com/lakeoswegorealestateoregonfinancing update

We saw further weakness in global equities heading into Friday’s session. Adding to the sharper declines in Japan, China, and Europe, WTI crude oil is now trading under $30/barrel. All of this, combined with weaker economic data, has Treasury yields continuing to rally as the ongoing volatility in global equities has markets questioning additional rate hikes this year.

We did see some stronger results from U.S. banks on Friday, but with the global situation casting a larger shadow, equity markets have fallen further into the red and look to finish out the week under 16k on the big board. 10s are on the verge of trading below 2% again, while MBS levels continue to trade to better levels. Technically, any close below 2% on the 10yr now points to a ~1.90% handle at first glance.

Looking the other way, until we see a stronger trade back up through the 2.13-2.16% range, it’s game on for us mortgage goers! As we look to the week ahead, we would expect much of the same trading action to continue as further declines in stocks are expected.

Upcoming Market Data

January 19 – Housing Market Index
January 20 – MBA Mortgage Applications
January 20 – Consumer Price Index
January 20 – Housing Starts
January 21 – Jobless Claims
January 21 – Philadelphia Fed Business Outlook Survey
January 21 – Bloomberg Consumer Comfort Index
January 22 – PMI Manufacturing Index Flash
January 22 – Existing Home Sales

Don_MacKay

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or, I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate Oregon Financing Update

The MarketsMatt Jolivette, Associated Mortgage Brokers

Rates on home loans were down slightly in the past week. Freddie Mac announced that for the week ending November 25, 30-year fixed rates eased to 3.95% from 3.97% the week before. The average for 15-year loans was unchanged at 3.18%. Adjustables were mixed, with the average for one-year adjustables decreasing to 2.59% and five-year adjustables rising to 3.01%. A year ago, 30-year fixed rates were at 3.97%, virtually the same as today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac –“In a quiet week leading up to the Thanksgiving holiday, the 30-year fixed rates dipped 2 basis points to 3.95 percent. Economic releases over the last week contained no major surprises, and none are expected in the next few days.

The year is winding down, and the only remaining market dates of note are December 4 — the last employment report of the year — and December 15-16, the long-awaited FOMC meeting.” 

Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
 

Current Indices For Adjustable Rate Mortgages
Updated November 27, 2015  

Daily Value Monthly Value
Nov 25 October
6-month Treasury Security  0.39%  0.11%
1-year Treasury Security  0.52%  0.26%
3-year Treasury Security  1.25%  0.93%
5-year Treasury Security  1.66%  1.39%
10-year Treasury Security  2.23%  2.07%
12-month LIBOR  0.838% (Oct)
12-month MTA  0.256% (Oct)
11th District Cost of Funds  0.651% (Sep)

 

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or, I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate Oregon Financing Updatehttps://lakeoswegorealestateblog.wordpress.com

The Markets. Rates on home loans bounced back in the past week after a sharp drop the week before. Freddie Mac announced that for the week ending October 15, 30-year fixed rates rose to 3.82% from 3.76% the week before. The average for 15-year loans increased as well to 3.03%. Adjustables were stable, with the average for one-year adjustables down one tick to 2.54% and five-year adjustables remaining at 2.88%. A year ago, 30-year fixed rates were at 3.97%, close, but still higher than today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “As the shock of the weak September employment report wore off, Treasury rates drifted higher. In response, the 30-year fixed rate climbed 6 basis points to 3.82 percent, marking 12 consecutive weeks below 4 percent.

Late-breaking news suggests rates may remain in this territory a while longer. After this week’s survey closed, Federal Reserve Governor Daniel Tarullo was quoted suggesting the Fed may not act this year, and Wednesday the 10-year Treasury closed under 2.0 percent in reaction to economic releases indicating weak consumer demand.”

Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

Current_Indices

 

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or, I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

MORE Realty, Inc.
14945 SW Sequoia Parkway, #150
Portland, OR. 97224

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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