(PRWEB) May 19, 2012
Homes.org mortgage report is delivering good news to those wanting to refinance or buy a home. When it seemed mortgage rates couldn?t get any lower, the average drops below 4% for the first time since Bankrate began surveying lenders. The 30-year fixed rate mortgage decreased by 5 basis points while the 15-year fixed rate remained unchanged since last week.
Current interest rates are:
3.97% – average rate for a 30-year fixed rate mortgage
3.20% – average rate for a 15-year fixed rate mortgage
Americans can thank the Eurozone?s shaky economic situation for extremely low interest rates that seem to have no floor. But now the question is, ?can rates hold at this record low rate, or will they begin to trend upward?? There are a variety of economic reports out this week that could have an impact. Below is an overview of this week’s most important economic activity.
Tuesday: April Retail Sales
Tuesday: Consumer Price Index
Wednesday: April Housing Starts
Wednesday: Fed Meeting Minutes
In an economy where spending accounts for 70% of the activity increases are a good thing. Experts were expecting very small gains to the tune of 0.2% and that?s exactly what they got when volatile gasoline sales were taken out of the equation. It?s not a very strong start of the second quarter.
And what about inflation on those things people are buying? The Consumer Price Index found measurements for April were changed since March when there was a 0.3% rise. The flat rate is being contributed to gas priced which dropped during April. However, the 12-month ?core? value, which factors in food and gas, has 2.3%. Slightly higher than the Fed?s 2% inflation comfort zone.
There was good news in the April Housing Starts report after a few months of disappointing numbers. Homes.org will be providing full coverage and comparisons of housing starts in a special report tomorrow.
Due to the low level of inflation in the Consumer Price Index and the weak consumer spending, the Homes.org mortgage team is predicting that mortgage rates will stay flat this coming week for both 30 year fixed-rate mortgages and 15 year fixed-rate mortgages.
To find more information on mortgage rates, new home listings and real estate agents, please visit: Homes.org
About Homes.org
Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.
About Star Nine Ventures
Star Nine Ventures is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.
Purchase includes free access to book updates online and a free trial membership in the publisher’s book club where you can select from more than a million books without charge. Excerpt: Bob Bradley (born March 3, 1958 in Montclair, New Jersey) is the current manager of the United States men’s national soccer team. Before taking over the national team in December 2006, he had previously coached in the American college game and later in Major League Soccer, managing the Chicago Fire, MetroStars, and Chivas USA over nine seasons. His son, Michael Bradley, is a professional footballer currently playing with Borussia Mönchengladbach of the German Bundesliga and the national team. Bradley was born and raised in New Jersey, playing soccer at West Essex High School and Princeton University. Bradley’s managing career started in 1981, when he was named the manager of Ohio University at the age of 22. He was lured away by University of Virginia manager Bruce Arena and spent two years as his assistant, before taking the top job at his alma mater, Princeton. Bradley led the Tigers from 1984 to 1995, winning two Ivy League titles and reaching the NCAA Final Four in 1993. In 1996, Bradley became Arena’s assistant once again, this time with D.C. United of the newly formed Major League Soccer. After two seasons there, he became the first manager of the expansion Chicago Fire, leading them to the MLS Cup and US Open Cup double in 1998. For this success, he was named MLS Coach of the Year. He won more silverware in 2000 when the Fire won the Open Cup. After the 2002 MLS season, Bradley resigned as manager of the Fire and took the reins of his home state team, the MetroStars, which had previously considered him for the job in 1996 and 1997. During his tenure, he had the historically underachieving club headed in the right direction as the MetroStars advanced to the US Open Cup final for the first time in club history in 2003. Bradley stayed wi… More:
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