<<< back to article list

Aviano Homes for Sale - MLS and Mortgage Information


  • +1

Blog by Doug Ingersoll | August 13th, 2013


The August edition of STAT from the fine folks at Arizona Regional Multiple Listing Service is out. Click HERE to check it out. They have really improved the commentary section. and because they have all the data, it is a very accurate picture of our real estate world. All good news.

From Stuart Crawford at V.I.P. Mortgage:

"Following the roller coaster ride the prior week, last week’s interest rate market was one of the quietest weeks in a very long time.  While last week contained a Fed meeting, Employment report, and GDP data, there was very little significant economic news, and mortgage rates barely changed.

In addition to a lack of major economic data, another reason for the limited volatility was that the message conveyed from the Fed was very consistent. The largest influence on mortgage rates in recent months has been shifting expectations for future Fed policy.  According to the Fed officials that spoke during the week, the Fed expects to begin to taper its bond buying program later this year.  The exact timing will depend on future economic data, and investors currently expect that the tapering will begin in September or October.  This means that the reaction to major economic data likely will continue to be exaggerated, as we saw on several occasions last week.

President Obama laid out his plan for restructuring Fannie Mae and Freddie Mac.  It is very similar to what is being proposed in the Senate, so there were no big surprises.  The primary component of the plan is to shift credit risk on mortgages from the government to the private sector.  There was no timetable provided, but any changes are expected to take years to come to fruition.  The announcement created a lot of headlines, but did not have an immediate impact on mortgage rates and is not likely to affect rates anytime soon.

The most significant economic data this week will be the Retail Sales report.  Retail Sales account for about 70% of economic activity and will be released on Tuesday."

Stuart can be reached at 602.710.8975

Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale,foreclosure,fireside at desert ridge,Toll Brothers,pulte,bella monte,north phoenix. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Charts courtesy of The Cromford Report and Michael Orr.