The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday. For the ninth consecutive meeting, the vote was nearly unanimous. And, also for the ninth consecutive meeting, Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote. The Fed Funds Rate has been near zero percent since December 2008. In its press release, the Federal Reserve noted that, since its last meeting six weeks ago, the U.S. economy has been expanding "at a moderate pace", led by growth in household spending. However, "strains in global financial markets" continue to remain a threat to U.S. economic growth, a comment which references the Eurozone and its economy. The Fed's statement also included the fol... 10/24/2012

As the third quarter closed, home resales showed considerable momentum nationwide. The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago. An "existing home" is a home that's been previously occupied; a resale. The reading marks the second-highest tally of the year -- second only to August 2012 when 4.83 million homes were sold on a seasonally-adjusted, annualized basis. The real estate trade association reports that there are now just 2.32 million previously-occupied homes for sale nationwide. It's the thinnest national home supply since March 2005 and, at today's sales pace, all 2.32 million homes would sell in 5.9 months. A 6.0-month home supply is ... 10/24/2012

Since late-2011, home values have climbed in many U.S. markets. The government's Home Price index puts the increase at +3.7% an annual basis and the National Association of REALTORS® shows home sale prices up 11% since last year. The price at which a home sells is determined by the economic force of supply-and-demand but location and amenities matter, too; establishing a baseline from which supply-and-demand can work. Using data compiled by real estate market data firm Altos Research, Forbes Magazine recently presented America's 10 most expensive ZIP codes for 2012. California and the New York Metro area dominate the list. New York, NY (10065) : $6,534,430 Alpine, NJ (07620) : $5,745,038 Atherton, CA (94027) : $4,897,864 Sagaponack, NY (11962) : $4,180,385 Hillsborough, CA (94010) : $4,... 10/22/2012

  Mortgage markets worsened last week as hope for a European economic rebound and stronger-than-expected U.S. economic data moved investors out of mortgage-backed bonds. Mortgage rates of all types -- conventional, FHA and VA -- lost ground last week, harming home affordability in Parkland and Coral Springs, and reducing purchasing power nationwide. Rising rates also thwarted would-be refinancing households hoping to time a market bottom. The increase runs counter to Freddie Mac's weekly Primary Mortgage Market Survey which showed the average 30-year fixed rate mortgage rate dropping 2 basis points to 3.37% nationwide. This contradiction occurred because Freddie Mac's weekly mortgage rate survey is conducted Monday through Wednesday, and because the majority of the surveyed banks reply ... 10/22/2012

The U.S. housing market recovery is underway. New home sales are at a multi-year high, housing starts are at pre-recession levels, and home builders plan for a strong 2013. Since late-2011, falling mortgage rates have boosted buyer purchasing power. Now, today, in many U.S. markets, the number of active home buyers outnumbers the number of active home sellers. It's among the reasons why home supplies remain scarce and why home prices are rising. Roughly 20 percent of today's home buyers purchase homes with cash. For everyone else, the ability to gain mortgage approval depends on income, assets, and, most importantly, credit scores. Your credit score is a predictor of your future payment performance and lenders pay close attention. If you plan to buy a home in Parkland or anywhere else ... 10/19/2012

The housing market continues to improve. According to the U.S. Census Bureau, on a seasonally-adjusted, annualized basis, Single-Family Housing Starts rose to 603,000 last month, an 11 percent increase from the month prior and the highest reading in more than 4 years. A "housing start" is a home on which construction has started and home builders are breaking ground at rates not seen even during the 2010 federal home buyer tax credit period. It's a signal to home buyers throughout FL that the U.S. housing market may be permanently off its bottom. At least, the nation's home builders seem to think so. Earlier this week, the National Association of Homebuilders reported home builder confidence at a 5-year highand nearly triple the levels of last September. Buoyed by rising sales volume an... 10/18/2012

As home prices rise, so does home builder confidence. Tuesday, the National Association of Homebuilders reported its monthly Housing Market Index (HMI) at 41, a one-tick improvement from September and the highest HMI value since June 2006-- a span of 77 months. The Housing Market Index is a homebuilder confidence indicator. When it reads 50 or better, the HMI suggests favorable conditions for home builders nationwide. Readings below 50 suggest unfavorable conditions for builders. The HMI has not crossed 50 since April 2006 but the index has been making a run since last year, nearly tripling since the 14 reading of last year's September. In addition, builder confidence has climbed for six straight months. For Parkland buyers of new construction, the Housing Market Index may help to set m... 10/17/2012

Mortgage rates in South FL continue to troll near all-time lows, boosting the purchasing power of home buyers statewide. According to Freddie Mac's most recent Primary Mortgage Market survey, the average 30-year fixed rate mortgage is now 3.39 percent nationwide, just three ticks off an all-time low. At the start of last quarter, 30-year fixed rate mortgage rates averaged 3.62 percent. One year ago, they averaged 4.12%. When mortgage rates are falling, they present Parkland & Coral Springs Florida home buyers with interesting options. Because of lower rates, buyers can choose to tighten their household budgets, buying an ideal home but paying less to own it each month. Or, for buyers who shop for homes by "monthly payment", falling mortgage rates put more homes within affordability's r... 10/15/2012

Mortgage markets improved slightly last week. With a dearth of new U.S. economic data due for release, investors turned their collective attention to the Europe, China, and the Middle East. U.S. mortgage rates fell slightly in the holiday-shortened week. The combination of civil protests, economic slowdowns, and growing political tensions caused investors to dump risky assets in favor of the relative safety provided by the U.S. mortgage bond market. According to Freddie Mac, the average conforming 30-year fixed rate mortgage is now 3.39% nationwide for borrowers willing to pay 0.7 discount points plus a full set of closing costs. 0.7 discount points is a one-time closing cost equal to 0.7 percent of the borrowed loan size. As an illustration, a bank's charge of 0.7 discount points on a... 10/14/2012

Foreclosure volume continues to slip. According to foreclosure-tracking firm RealtyTrac, in September, the number of foreclosure filings nationwide fell 7 percent from the month prior, and fell 16 percent from September 2011. RealtyTrac defines a "foreclosure filing" as any of the following foreclosure-related events : (1) A default notice on a home; (2) A scheduled auction for a home; or, (3) A bank repossession of a home. September's 180,427 foreclosure filings mark the lowest monthly total in more than 5 years. It's a signal that the U.S. housing market is in recovery, while also reflecting the success with which banks and homeowners have found alternatives to the foreclosure process, including the short sale. Based on data from the National Association of REALTORS®, short sales now... 10/11/2012

With mortgage rates at all-time lows, purchase and refinance activity is climbing. Home sales are at their highest levels since May 2010 as home buyers take advantage of favorable economic conditions. Home prices are low, household income is rising, and rents are up in many U.S. cities. Low rates have stoked mortgage refinance applications throughout Parkland & Coral Springs Florida , too. Last week, with 30-year fixed rate mortgage rates slipping to 3.36% nationwide, on average, more U.S. homeowners were in search of a refinance than during any one-week period since April 2009. With loan volume high, banks are nearing their respective capacities for underwriting and approving home loans. As a mortgage applicant, therefore, you'll want to make sure that you're taking whatever steps nec... 10/10/2012

It's not just the housing market that's improving nationwide -- it's the economy overall. The number of U.S. metropolitan areas showing "measurable and sustained growth" climbed to 103 this month. The data is measured by the Improving Markets Index, a monthly metric from the National Association of Homebuilders. The Improving Market Index is meant to identify which U.S. markets are experiencing broad economic growth -- not just growth in terms of housing. The index's conclusions are based on three data series -- each collected separately; each from a different division of the U.S. government; and, each tied to specific local economic conditions. Those three data series are : Employment Statistics (from the Bureau of Labor Statistics) Home Price Growth (from Freddie Mac) Single-Family H... 10/10/2012

Upcoming Events in Parkland Florida Every month the city of Parkland Florida has a special event going on that everyone can enjoy. This month, October 13, 2012, there will be a band called Crossroads  doing a "Eric Clapton Tribute". They will be rocking out at the Pine Trails Park Amphitheater from 7:00 pm to 8:30 pm. Bring your whole family and plenty of blankets and lawn chairs as we rock the night away. Then, the next month, November, Another band doing a tribute of "Pink Floyd". They are the Wall of Echoes. That one will be held at the same place, same time on November  3, 2012. For more information on upcoming concert events, contact the Main Parks and Recreation Phone Number (954) 757-4105. Then, on November 16, there is a Movie in the Park! Grab a picnic basket and a blanket and... 10/10/2012

Mortgage markets worsened last week for the first time in a month as the U.S. economy showed signs of improvement, and the Eurozone stepped closer to launching its $500 billion euro rescue fund. Conforming mortgage rates in Florida rose last week on the whole -- even though Freddie Mac's Primary Mortgage Market Survey proclaimed that they fell. This occurred because Freddie Mac's weekly mortgage rate survey is conducted between Monday and Tuesday each week and, last week, mortgage rates were lower when the week began. Through Wednesday, Thursday and Friday, however, they rose. According to the Freddie Mac survey, the average 30-year fixed rate mortgage slipped to 3.36 percent nationwide last week, while the 15-year fixed rate mortgage fell to 2.69 percent. Both rates required 0.6 disco... 10/09/2012

It's a dangerous time for home buyers in Parkland Florida to be without a locked mortgage rate. Friday morning, at 8:30 AM ET, the government releases its Non-Farm Payrolls report for September. More well-known as "the jobs report", Non-Farm Payroll data has the power to move mortgage rates up or down. Unfortunately, ahead of the release, we can't know which. Last year, job growth more than doubled between August and September. If this year shows that same growth, Parkland Real Estate home buyers mortgage rates are expected to rocket higher. The connection between rising jobs and rising rates is a chain reaction-type link, and is often quite tight. Jobs are a growth engine for the U.S. economy and mortgage rates are "made" based on future expectations for the U.S. economy. In general, ... 10/04/2012

Home values are rising in many U.S. markets. The S&P/Case-Shiller Index has home values up 1.2 percent as compared to last year, and the government's Home Price Index shows an increase of 3.7 percent. This has been partially evidenced by rising median home sales prices nationwide. Versus last year, the median sale price of a new construction home has climbed 17 percent, and the median sale price of an existing home sale is higher by 10 percent. For home sellers, an improving market means the chance to net more proceeds from a home sale. Or does it? In this 3-minute piece from NBC's The Today Show, we hear about the home appraisal process and how it may be limiting the number of home sales nationwide, plus the prices at which homes are selling. The interview includes several key insight... 10/03/2012

There have been no shortage of "housing market" stories lately. After sinking through much of late-last decade, home values slowly stabilized into mid-2011. By October 2011, values appeared to have bottomed. Today, nearly five-and-one-half years after the April 2007 housing market peak, home prices are finally showing their ability to rebound. Over the past 12 months, a bevy of housing market data highlights broad-based market growth. For example, as compared to August 2011, Existing Home Sales are up 9.3 percent nationally; New Home Sales are up 27.7 percent nationally; and home inventories have slipped to multi-year lows in Parkland Florida and throughout the country. Furthermore, multiple home value trackers show home prices rising both regionally and nationwide. Last week, the gove... 10/02/2012

Mortgage rates dropped to another all-time low last week as concerns for global economic growth helped U.S. home buyers and refinancing households nationwide. U.S. mortgage rates responded to non-U.S. events, and for rate shoppers and home buyers in Parkland or Coral Springs , Florida , home affordability improved. Early in the week, with Greece and Spain debating new austerity measures, and with citizen protests rampant, a flight-to-quality helped to boost demand for U.S. mortgage bonds. So did rumors of a weakening Chinese economy. "Flight-to-quality" is a trading term for when investors shun investment risk in favor of safer, more high-quality portfolio assets. Typically, this involves selling stocks and buying bonds, including mortgage-backed ones. When demand for mortgage-backed b... 10/01/2012

Sable Pointe of Heron Bay St. John Model sold by Ed Poirier in Parkland FL 33076 Ed Poirier of Coldwell Banker has sold another beautiful home in Heron Bay. This Saint John model built by WCI in 2007 has a nice pool & water view in Sable Pointe. If you would like more information about homes currently for sale in Heron Bay please visit HeronBayHomesFlorida.com This St. John model was completely redone inside with new paint, new appliances, new crown moulding & more. Great pool with Jacuzzi and water view. Get a great deal on a home like this by calling 954-295-8015.   ED POIRIER CAN ASSIST WITH SELLING YOUR HOME, BUYING A HOME, NEW CONSTRUCTION IN PARKLAND, SHORT SALES & BANK OWNED REO FORECLOSURE HOMES. PLEASE CALL TO GET MODELS, FLOOR PLANS AND PRICE LISTS FOR HERON BAY, PARKLAND GOL... 09/28/2012

Nationwide, homes continue to sell briskly. According to the National Association of REALTORS®, the Pending Home Sales Index read 99.2 for August -- the fourth straight month in which the index hovered near its benchmark value of 100. A "pending home" is a home that is under contract to sell, but has not yet closed. The index measures with fair accuracy the future strength of the U.S. housing market. For today's Parkland home buyers, the August Pending Home Sales Index is relevant for several reasons. First, the index remains near its highest point since April 2010, the last month of that year's federal home buyer tax credit. This implies that the current housing market is performing nearly as well as the "stimulated" market of two years ago -- except without the accompanying federal s... 09/27/2012