Wednesday, July 11, 2012
Sunday, May 13, 2012
Saturday, May 5, 2012
Wednesday, April 25, 2012
Thursday, April 19, 2012
Is it a Seller Market with Raleigh Mortgage Rates???
Is it a Seller Market with Raleigh Mortgage Rates???
It is unbeleivable that Raleigh mortgage rates are below 4% — this may be causing a shift from a buyer’s market to a Sellers market. Seriously, we are not in a full force “Seller’s Market” though-out the Triangle however I have been seeing a shift as many of my Clients are being caught in a bidding war competing against multiple offers. Remember, real estate is local…and hyper local (i.e. neighborhood by neighborhood) so consult your trust real estate professional.
Today, the NewsObserver published an article recently titled “Triangle Home Sales Up 20% in the First Quarter” – folks, this market is green and growing so if you have been thinking of buying your first home or considering to move up – NOW IS A GREAT TIME.
Here are some quick Kevin Martini fact to know:
Home showing up 11%
Pending home sales up 22%
Closings up 20%
The average sales price was $223,800
Pending home sales up 22%
Closings up 20%
The average sales price was $223,800
The gets news gets better…Raleigh mortgage rates remain near historic lows and now continues to be a GREAT time to purchase a home. The home affordability is at one of the best levels EVER.
Tuesday, April 17, 2012
Last week inflations date was released & Raleigh Mortgage Rates responded
Last week inflations date was released & Raleigh Mortgage Rates responded
Last week inflation news hit the wires and this impacted Raleigh Mortgage Rates. Now inflation is measured on both a wholesale and consumer levels. The wholesale-measuring Producer Price Index (a.k.a. PPI) showed that prices remained mostly unchanged during March. Remember, inflation hurts the value of fixed investments like Bonds (including Mortgage Bonds, to which Raleigh mortgage rates are tied)…so the lack of inflation on the wholesale side was very good news for Bonds and Raleigh mortgage rates.
Also helping Bonds Raleigh home loan rates last week was the tame inflation data from the Consumer Price Index (a.k.a. CPI). The headline reading for March was right in line with estimates. Then when you take out volatile food & energy, the Core CPI was also inline with estimates – HOWEVER he year-over-year number was 2.3%, just slightly higher than the previous reading of 2.2%. While this raises eyebrows a bit, the Fed is still reiterating that inflation remains restrained.
Here is the Kevin Martini take on this… if the Core CPI continues to rise…which is indicative of inflation…Raleigh home loan rates will have a tough time improving much further – period.
One key factor to keep an eye on is the labor market, as Initial Jobless Claims increased 13,000 for the week ending April 7. This marks the highest level since January & the second highest reading for 2012. The Fed has acknowledged that job creations are short of their goals.
The bottom line is that many factors will impact the direction in which Bonds and Raleigh mortgage rates move in the weeks ahead. The good news is that Raleigh home loan rates remain near historic lows & now continues to be a great time to purchase or refinance a home.
Earning season continues on Wall Street plus the economic calendar is FULL…reports on sales, housing, jobless claims and manufacturing:
Starting Monday…Retail Sales will be reported…nvestors will be able to gauge how consumer spending is holding up.
In manufacturing news, the Empire State Index out of New York and the Philadelphia Fed Index will be released on Monday and Thursday, respectively.
Housing will be in the news this week with Housing Starts and Building Permits for March being reported on Tuesday. Those reports will be followed by the Existing Home Sales report for March, which will be released on Thursday.
The weekly Initial Jobless Claims report will be released on Thursday. The report released last week showed that jobless claims rose to their highest level since the week ending January 28. So the markets will be watching this week’s release!
Again, it is earning season & corporate earnings may influence the Stock markets – and as we know, the Bond markets usually move in the opposite direction.
Again, it is earning season & corporate earnings may influence the Stock markets – and as we know, the Bond markets usually move in the opposite direction.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and Raleigh mortgage ratesimprove, while strong economic news normally has the opposite result.
Thursday, April 12, 2012
So…what do you want your Raleigh Mortgage Payment to Be?
So…what do you want your Raleigh Mortgage Payment to Be?
When you're buying a home in Raleigh or a home anywhere for that matter, it is my opinion, to search for what home costs, not by the listing price of the home. Price is just the cost on the sticker. In contrast, cost is what you pay each month to own the home. It's your Raleigh mortgage, your taxes, your insurance, and even you home owners association. It's your combined cost of homeownership.
Please make no mistake…in the Kevin Martini family, price matters in the long run but cost is what hits your wallet every month.
So the first question you should ask yourself regardless if you are a first-time home buyer or a seasoned real estate investor is:
Yes, I am suggesting to search for homes by the "Monthly Payment" not the “List Price”
As a Raleigh homebuyer, this is the most important question you can ask yourself. Folks, let me warn you…ranges do not work – you need to know your specific number.
Once you know your monthly budget, determining whether a home is “affordable” for you is a matter of working some basic Raleigh mortgage math.
Home Affordability
Homes are more affordable today than at any time in recorded history. It’s not because home prices are down, though -- it’s because Raleigh mortgage rates are.
Low Raleigh mortgage rates extend a buyer’s housing budget farther than falling home prices ever could. But with Raleigh mortgage rates changing every 3 to 4 hours on average, affordability can be VERY short-lived.
Every time Raleigh mortgage rates change, so does your budgeted maximum purchase price & the changes can be dramatic. For Example: For each 0.125% increase to mortgage rates, your maximum purchase price must fall by about 1 ½ % to stay with your budget payment.
This is why timing the housing market is reckless. Rising Raleigh mortgage rates can quickly erase your savings.
About The Author:
Kevin Martini is a trusted Raleigh lender with the Kevin Martini Group at SunTrust Mortgage. You can email Kevin at Kevin@KevinMartini.com or call at 919.274.3700.
![money](http://realestatemarbles.com/martinifactor/files/2012/04/money-150x150.jpg)
Please make no mistake…in the Kevin Martini family, price matters in the long run but cost is what hits your wallet every month.
So the first question you should ask yourself regardless if you are a first-time home buyer or a seasoned real estate investor is:
“how much can you afford to spend on a home each month”
Yes, I am suggesting to search for homes by the "Monthly Payment" not the “List Price”
As a Raleigh homebuyer, this is the most important question you can ask yourself. Folks, let me warn you…ranges do not work – you need to know your specific number.
Once you know your monthly budget, determining whether a home is “affordable” for you is a matter of working some basic Raleigh mortgage math.
Home Affordability
Homes are more affordable today than at any time in recorded history. It’s not because home prices are down, though -- it’s because Raleigh mortgage rates are.
Low Raleigh mortgage rates extend a buyer’s housing budget farther than falling home prices ever could. But with Raleigh mortgage rates changing every 3 to 4 hours on average, affordability can be VERY short-lived.
Every time Raleigh mortgage rates change, so does your budgeted maximum purchase price & the changes can be dramatic. For Example: For each 0.125% increase to mortgage rates, your maximum purchase price must fall by about 1 ½ % to stay with your budget payment.
This is why timing the housing market is reckless. Rising Raleigh mortgage rates can quickly erase your savings.
![Kevin Martini](http://realestatemarbles.com/martinifactor/files/2012/04/Kevin-2-150x150.jpg)
Kevin Martini is a trusted Raleigh lender with the Kevin Martini Group at SunTrust Mortgage. You can email Kevin at Kevin@KevinMartini.com or call at 919.274.3700.
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