| Weekly Mortgage Interest Rate Report October 29, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||
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| Data is provided by Freddie Mac's Primary Mortgage Market Survey® (PMMS) | ||||||||||||||||||||||||||||||||||||||||||||||
| This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 1026.2. Data is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey. |
Market Update
Friday, October 30, 2015
MARKET SURVEY 10/29/15
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SOCIAL SHARE FOR YOUR WEEKEND
Recommended Social Media Post to share with your followers this weekend! Providing fun and helpful resources creates interaction with your followers and soon you become the Realtor in their life!
Your 2015 ultimate Arizona Halloween guide
Your 2015 ultimate Arizona Halloween guide 
(Photo: Clockwise: Stock photo, Rainbow Bakery, Sky Schaudt, Stock photo)
LINK TO COPY/PASTE IN YOUR POST: http://www.azcentral.com/story/entertainment/holidays/2015/10/09/your-2015-ultimate-arizona-halloween-guide/73525402/
MARKETING CORNER
7 reasons why Winter IS a good time to sell homes!
Not only are these great reminders for your seasonal business mindset, but they can also be helpful in advising potential listing clients over the next 3 months.Source: Real Estate Marketing Magazine By
I’ve been reading many articles, opinions, videos and blog posts lately about why it’s a great idea to list a home for sale in the winter. My reticular activator must really be active right now, because I feel like I see more homes for sale in my own neighborhood now than I do in the summer and spring months. My neighborhood has really low turn over, because of a high ranking elementary school, it’s shocking to see so many for sale, but I am really having a complete paradigm shift about why selling in the winter makes great sense.
- In the winter, inventory is lower by an average of 20% and so is competition.
- In the winter time, people who are searching for a home are serious buyers. How many “tire kickers” do you know who are willing to get out there and search for a home in the cold, rain, wind or snow?
- In the summer is when the majority of real estate sales happen, how can a home really stand out amongst all the others…don’t they all start to look the same when in the same area.
- Homes don’t sell for as close to listing price in the summer, recent reports show that homes sell for more in the winter when there is less on the market.
- In the winter time, the amount of traffic going through a client’s home is much less because there are less people in the market looking. Less inconvenience for families trying to keep the home “perfect” in case of unexpected visitors.
- Homes are usually pretty “festive” and feel “warm” during the winter. Good for creating a warm feeling in the staging.
- In the winter, with inventories being lower, there is a slight shift in who’s in the drivers seat when it comes to contract negotiations, especially with the changing markets. There will likely be less concessions on the part of the seller in the winter.
This is a snippit from an article done by Redfin…it’s very interesting and numbers don’t lie.
Spring listings sell a bit faster, but winter has 20 percent fewer listings added than the spring. Redfin reports winter listings were more likely to sell (59.2 percent) than summer listings (53.1 percent) and that homes listed in the winter sell closest to their original price with only a 2.7 percent average drop from the final price in winter versus a 5.2 percent drop in the summer.
MARKET NEWS
Average 30-year mortgage rate slips to 3.76 percent
Published: Oct 29, 2015 at 11:41 AM PDT
WASHINGTON (AP) - Average long-term U.S. mortgage rates were slightly lower to unchanged this week amid expectations that the Federal Reserve isn't ready yet to raise its key short-term interest rate.
Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage slipped to 3.76 percent from 3.79 percent a week earlier. The rate on 15-year fixed-rate mortgages stayed at 2.98 percent.
It was the 14th straight week of rates below 4 percent, and they are well below last year's levels. A year ago, the average 30-year mortgage rate was 3.98 percent, while the rate for 15-year loans was 3.13 percent.
The Fed announced Wednesday that it's keeping the key rate at a record low near zero in light of a weak global economy, slower U.S. hiring and subpar inflation. But it signaled the possibility of a rate hike in December.
It was the first time in seven years of record-low rates that the Fed has explicitly raised the possibility that it could raise the benchmark rate at its next meeting.
Data issued Thursday showed that September marked a slowdown in Americans signing contracts to buy homes, the second consecutive decline for a real estate market that has been rebounding for the first half of 2015.
The National Association of Realtors said its seasonally-adjusted index of pending home sales dropped 2.3 percent to 106.8 last month. The index has risen 3 percent over the past 12 months, aided by solid hiring levels and low mortgage rates that fueled stronger demand during the traditional summer buying season.
Sales of new homes plunged sharply in September to the slowest pace in 10 months, as higher prices and slower economic growth weigh on the housing market, according to government data out Monday.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage held steady from last week at 0.6 point. The fee for a 15-year loan rose to 0.6 point from 0.5 point.
The average rate on five-year adjustable-rate mortgages was unchanged at 2.89 percent; the fee remained at 0.4 point. The average rate on one-year ARMs fell to 2.54 percent from 2.62 percent; the fee held at 0.2 point.
Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage slipped to 3.76 percent from 3.79 percent a week earlier. The rate on 15-year fixed-rate mortgages stayed at 2.98 percent.
It was the 14th straight week of rates below 4 percent, and they are well below last year's levels. A year ago, the average 30-year mortgage rate was 3.98 percent, while the rate for 15-year loans was 3.13 percent.
The Fed announced Wednesday that it's keeping the key rate at a record low near zero in light of a weak global economy, slower U.S. hiring and subpar inflation. But it signaled the possibility of a rate hike in December.
It was the first time in seven years of record-low rates that the Fed has explicitly raised the possibility that it could raise the benchmark rate at its next meeting.
Data issued Thursday showed that September marked a slowdown in Americans signing contracts to buy homes, the second consecutive decline for a real estate market that has been rebounding for the first half of 2015.
The National Association of Realtors said its seasonally-adjusted index of pending home sales dropped 2.3 percent to 106.8 last month. The index has risen 3 percent over the past 12 months, aided by solid hiring levels and low mortgage rates that fueled stronger demand during the traditional summer buying season.
Sales of new homes plunged sharply in September to the slowest pace in 10 months, as higher prices and slower economic growth weigh on the housing market, according to government data out Monday.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage held steady from last week at 0.6 point. The fee for a 15-year loan rose to 0.6 point from 0.5 point.
The average rate on five-year adjustable-rate mortgages was unchanged at 2.89 percent; the fee remained at 0.4 point. The average rate on one-year ARMs fell to 2.54 percent from 2.62 percent; the fee held at 0.2 point.
Friday, October 23, 2015
CURRENT MARKET SURVEY
| Weekly Mortgage Interest Rate Report October 22, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||
| Data is provided by Freddie Mac's Primary Mortgage Market Survey® (PMMS) | ||||||||||||||||||||||||||||||||||||||||||||||
| This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 1026.2. Data is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey. |
SOCIAL SHARE FOR YOUR WEEKEND
Forbes : The Best States For Future Job Growth
Arizona Ranks No. 1 in Nation!
Arizona was absolutely hammered during the financial crisis of the late 2000s. Median home prices in the state plummeted 53% over five years from $250,000 in 2006 to $117,000. The foreclosure rate was the second highest in the U.S. for three straight years as construction ground to a halt. Unemployment peaked at 11.2% at the end of 2009 and net migration into the state fell sharply.
But Arizona has emerged from the wreckage to be one of the brighter spots in a slumbering U.S. economy thanks in part to renewed migration. Arizona’s projected job growth is 3.1% annually though 2019, best in the U.S., according to forecasts from Moody’s Analytics.
Link to share on your Social Pages: http://www.forbes.com/sites/kurtbadenhausen/2015/10/21/the-best-states-for-future-job-growth/
MARKETING CORNER
October 22, 2015 // 6:00 AM
With over 380 million registered users in over 200 countries and territories, more than four million companies with LinkedIn Company Pages, and professionals signing up at a rate of more than two new members per second, LinkedIn is the world’s largest professional social network.
Have you created a presence for you or your company on Linkedin yet?
Whether you want to connect with industry professionals, network, attract talent, establish thought leadership, or generate prospects and leads (or indeed, all of the above), LinkedIn should be an integral part of not just your social media marketing strategy, but also your overall inbound marketing strategy.
To help build out your LinkedIn strategy, HubSpot and LinkedIn created How to Use LinkedIn for Business, Marketing, and Professional Networking. From how to optimise your LinkedIn profile to advice for building relationships to which features you should be leveraging, this kit serves as your one-stop shop for all things LinkedIn.
In terms of resources, here's what you can expect to receive:
- Three comprehensive guides: How to Optimize your LinkedIn Profile, How to Use LinkedIn for Professional Networking, and How to Use LinkedIn for your Business
- Six PowerPoint & Photoshop templates to make your profile look beautiful
- An infographic from LinkHumans that depicts the perfect LinkedIn profile -- a sneak peek of which is below:
So just how much do you know about LinkedIn and its power to help you grow as a professional and a business? Download How to Use LinkedIn for Business, Marketing, and Professional Networking to find out.
MARKET NEWS
Average US rate on 30-year mortgage falls to 3.79 percent
The Associated Press
WASHINGTON - Average long-term U.S. mortgage rates fell this week, marking a 13th straight week below 4 percent and offering an enticement for potential homebuyers.
Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.79 percent from 3.82 percent a week earlier. The rate on 15-year fixed-rate mortgages eased to 2.98 percent from 3.03 percent.
The rates are well below last year's levels. A year ago, the average 30-year mortgage rate was 3.82 percent, while the rate for 15-year loans was 3.08 percent.
The low rates and steady job gains have helped the real estate market reach what appears to be a stable plateau in recent months. Data issued Thursday by the National Association of Realtors showed that Americans snapped up more homes in September, suggesting that the housing sector remains insulated from global economic turmoil. Still, first-time buyers remain scarce and relatively few properties are being listed for sale, capping the potential growth of the sector.
Sales of existing homes jumped 4.7 percent last month to a seasonally adjusted annual rate of 5.55 million.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage held steady from last week at 0.6 point. The fee for a 15-year loan declined to 0.5 point from 0.6 point.
The average rate on five-year adjustable-rate mortgages rose to 2.89 percent from 2.88 percent; the fee was unchanged at 0.4 point. The average rate on one-year ARMs jumped to 2.62 percent from 2.54 percent; the fee was steady at 0.2 point.
Friday, October 16, 2015
CURRENT MARKET SURVEY
| Weekly Mortgage Interest Rate Report October 15, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||
| Data is provided by Freddie Mac's Primary Mortgage Market Survey® (PMMS) | ||||||||||||||||||||||||||||||||||||||||||||||
| This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 1026.2. Data is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey. |
MARKETING CORNER
Search engine optimization is complicated.
For many, it’s considered a dark art, peppered with unknowns and uncertainties. And while some marketers consider it an exciting challenge, others back away from it in fear that they'll simply never get it right.
However, the truth is, if you are doing any kind of online marketing, having even a basic understanding of SEO can help you deliver more successful strategies and campaigns.
So to help set you up for success, we've put together a 30-day plan designed to give you a better sense of how SEO works, how it fits into your strategy, and what tools you can use to measure and report on your efforts. While this post won't turn you into an SEO pro overnight, we promise it's full of resources that will make your life as a digital marketer just a little bit easier.
Let's get started.
Section 1: SEO Concepts
After completing days 1-4 you’ll have a basic understanding of how search engines work, a clear sense of the difference between on- and off-page SEO, as well as an overarching understanding of how Google's algorithmic updates have shaped how people approach SEO today.
Day 1: Learn about how search engines work.
Before you start digging into SEO concepts, you'll need to develop your understanding of how search engines work.
To ease yourself into your 30 days, sit down and watch this video by the former head of Webspam at Google, Matt Cutts. By the end of it, you should have a better understanding of how search engines work.
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