statistics

The Week In Review (January 28, 2008) : What To Watch For

January 28, 2008

Mortgage rates change from day-to-day, but last week’s volatility was a record-breaker. After drooping through Tuesday and then skyrocketing Wednesday and Thursday, mortgage rates retreated slightly on Friday. By weeks’ end, rates were at their same levels from mid-December. This is in contrast to Tuesday, just after the Fed’s rate cut and before the stock […]

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Consider Protecting Against Injury Before Protecting Against Death

January 9, 2008

Some quick statistics: 13% of Americans will die before age 65 28% of Americans will face a long-term disability before age 65 and be unable to work and/or earn an income Despite these facts, Americans are twice as likely to be insured on their lives as on their long-term health. Life insurance is important, but is much […]

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Why It’s Not So Bad That Unemployment Reached Its Highest Rate Since November 2005

January 4, 2008

On the first Friday of each month, the Bureau of Labor Statistics releases key data about the American workforce. The report is officially called “Non-Farm Payrolls” but most people refer to it as the “jobs report”. The jobs report’s influence on markets is palpable for two major reasons: Consumer spending makes up two-thirds of the […]

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How Today’s Employment Data Is Hurting Mortgage Rates

October 5, 2007

On the first Friday of each month, the Bureau of Labor Statistics releases its employment report for the United States. Last month, the jobs report showed that the economy actually lost jobs for the first time since 2003.  The total loss of jobs equaled 4,000 and contributed to the Federal Reserve’s decision to lower the […]

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Have You Ever Wondered Where The Money Goes?

October 4, 2007

Where does your money go?  If you’re like most Americans, more than half of it goes towards housing and transportation alone. This is according to the Consumer Expenditure Survey performed by the Bureau of Labor Statistics. The most recent study shows American household spending habits from 2005, but the percentages change little from one year […]

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The Fed Descends On Jackson Hole, The Market Won’t Get What It’s Looking For

August 31, 2007

Today is a holiday-shortened session but that doesn’t mean that the markets will be on vacation. The day’s big event is Federal Reserve Chairman Ben Bernanke’s speech at the Fed’s annual symposium in Jackson Hole, WY. Investors will dissect every phrase looking for clues about the economy and housing. More importantly, markets want some advance […]

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What’s The Existing Home Sales Report Got To Do With You? Nothing.

August 28, 2007

When the National Association of Realtors® releases its monthly Existing Home Sales report, people tend to watch every word, fact and figure in the statement in hopes of decoding the real estate market. It’s all wasted energy. It’s impossible to use the NAR report in everyday living because the NAR report is a national story.  […]

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A Web Site Made Just For Your Street

August 9, 2007

“If only I knew what my street was like before I bought the house!” Ignore the statewide statistics, forget the city figures.  Phooey to the neighborhood.  Reinforcing the notion that all real estate is local, meet Street Advisor, the definitive guide to America’s many streets. Unfortunately, there just hasn’t been enough helpful information catalogued just […]

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Why Medical Bills Are More Dangerous To Homeowners Than ARMs

July 20, 2007

If you own a home and somebody else depends on your income, consider that the leading cause of home foreclosures is not “adjustable rate mortgages”. As cited many times over (including by a Harvard law professor), the answer is medical bills. Even for the insured, medical expenses can dramatically impact a family’s finances and push […]

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How Ben Bernanke’s Testimony To Congress Is Moving Mortgage Rates

July 18, 2007

Despite lower prices at the gas pump, the Consumer Price Index increased a little bit more than expected in June. According to the Bureau of Labor Statistics, CPI rose 0.2% versus the 0.1% expected by economists CPI tries to answer the question “How expensive is everyday life?”.  Over the last 12 months, says the government, “life” […]

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Trade In Your Automobile For A Larger Home?

July 17, 2007

The Bureau of Labor Statistics says that the average American family spends $614 a month on automobiles.  This includes finance payments, gasoline, repairs, and insurance. Let’s relate that $614 per month to home buying. Based on a 6.500 percent, fully-amortizing mortgage payment, that same $614 yields an equivalent of $97,000 in additional home purchasing power. […]

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How Revisions To Previously-Released Data Are Pushing Mortgage Rates Higher Today

July 6, 2007

On a stronger-than-expected jobs report and upward revisions to April and May’s figures, mortgage rates are moving higher this morning. Against an expectation of 120,000, the Bureau of Labor and Statistics reported that 132,000 new jobs were created in June.  This not a huge deal in and of itself. It’s the revisions that are causing […]

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The Week In Review (June 25, 2007) : What To Watch For

June 25, 2007

For the first week in a long while, mortgage rates ended the week better than how they started. As we talked about last week, when there are no major data releases, the markets tend to move on momentum and psychology.  That’s precisely what pushed mortgage rates lower over the past five days. This week, though, […]

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All Real Estate Is Local, Or Why National News Programs Are Misleading

June 7, 2007

This is just a quick reminder to ignore national news stories about real estate.  It may sound like strange advice, but real estate is a highly local phenomenon. The “national scene” is comprised of data from: 50 states, with More than 30,000 incorporated cities, and with An innumerable number of neighborhoods It also combines data […]

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How The ADP Jobs Report Impacts Mortgage Rates

May 3, 2007

If yesterday’s ADP Employment Report is any indication, tomorrow’s jobs report may fall short of the 100,000 new job expectation from the Bureau of Labor Statistics. ADP reported 64,000 new jobs were created in April. The ADP report has never been in lock-step with the “official” report from BLS, including this well-publicized event in June […]

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Builders May Be Figuring Out The Market Faster Than Home Sellers

April 25, 2007

According to all of the headlines, existing home sales are down across the country.  Way down.  Check out this sampling: Sales of Existing Homes Plunge Steeply (NY Times) Existing Home Sales Plunge In March (Houston Chronicle) Existing Home Sales Plunge, Biggest Retreat In 18 Years (Salt Lake Tribune) However, it’s important to keep these statistics […]

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Conforming ARMs Are Going Delinquent More Rapidly Than Sub-Prime ARMs

March 14, 2007

The Mortgage Bankers Association released a report yesterday detailing how mortgage-holding homeowners are meeting their obligations. The statistics were a major factor in the Wall Street sell-off yesterday as investors increasingly grow nervous that sub-prime mortgage defaults will spill over into other credit markets and take the economy with it. The report stated that fourth […]

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