Please enjoy this quick update on what happened this week in the housing and financial markets.
Minutes from last month's Fed meeting showed concerns over global economic weakness. The Fed does not appear likely to raise policy rates anytime soon.
Oil producing countries are unifying to freeze oil production levels and stabilize oil pricing. Stocks have rallied on the news this week for the best gains of 2016.
The rally in oil pricing and stocks has eroded some of the recent improvements in bonds. The volatile markets have led to volatility in mortgage rates as well.
Housing starts were down slightly in January, likely due to cold weather. Still, the housing market fundamentals remain strong.
Building permits were down slightly overall for January. However, a strengthening job market is projected to buoy housing demand this year.
Builders' confidence was down slightly, but more builders see conditions as good than poor. Low rates and steady job gains signal an upward trend for housing.
Did you hear about the cowboy who got himself a dachshund?
He wanted to get a long little doggie.
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.
Author:Steve Stratton Phone: 540-560-1638 Dated: February 19th 2016 Views: 163 About Steve: ...
No matter how much time you spend on researching and educating yoursel
"“From the very beginning of our home search, Melody was helpful, responsive, knowledgeable, and accommodating. We live in Western Loudoun but Melody was happy to drive out here and take us house hunting multiple times. What impressed us the most was how on the ball she is – she responded so quickly to any questions we had, and if she didn’t know the answer or was unsure she took the time to go and research the subject in depth. For instance, we had questions about radon levels and the various water tests needed for well water. She was on the phone calling all kinds of companies and even government agencies to get us answers. She also wasn’t afraid to go to the sellers’ agents with any questions or concerns we had, no matter how small they might have been. She really was an advocate for us, and we knew that she wasn’t just out there trying to get us to buy a house and close the deal, she wanted us to find THE house, and get us the best deal. We had some requirements that really narrowed our pool of homes to choose from but we ended up finding our forever home, thanks to Melody. We had a few hiccups before closing but she was there every step of the way, in regular contact with the sellers agent, title company, mortgage lender, and even handled arranging all of the inspections for us. We would not hesitate to highly recommend her to anyone! ” "