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Monthly Archives: December 2009

The consensus among analysts seems to be for another 10% decline in home prices in 2010, making a new bottom

The S&P / Case Shiller home price index fell in October after five straight monthly increases. While the decline was barely measurable, it serves as a reminder that the bounce back in real estate prices is not likely to occur as quickly as the three-year decline. The consensus among analysts seems to be for another 10% decline in home prices in 2010, making a new bottom.

Austin Mortgage Market – For the week of December 21, 2009

We saw strong evidence last week that homebuilders are well on their way to recovery. Housing starts for November were UP 8.9%, to an annual rate of 574,000 units. Single-family starts were 35.0% higher than their January and February lows. The very volatile multi-units starts were UP 67.3% from the previous month's cyclical low. And get this -- starts were UP in every major region across the country!

No Change from Fed

In a week full of major economic news, mortgage rates ended with little change. Wednesday's Fed meeting produced little reaction in mortgage markets. The PPI inflation report was higher than expected, but the more closely watched CPI report was right on target, remaining at low levels. Economic troubles in some developing nations produced a flight to safer assets, which helped mortgage markets late in the wee

2 Reasons to Buy a Home Before Year-End: Watch for a hike in interest rates and take advantage of the Homebuyer Tax Credit

The Homebuyer Tax Credit Has Been Extended and Expanded. Now first-time homebuyers can qualify for a tax credit if they have a binding contract on a home in place by April 30, 2010---and they close by June 30. Buyers who have not owned a home during the last three years get a tax credit up to 10% of the home price, up to $8,000.