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Does this count as a Testimonial?

by Alex Stenback 09.16.2011
Thumbnail image for Does this count as a Testimonial?

Been a busy week with little posting.  Mortgage rates are still most excellent, so you should really call someone about that. In other news: I returned to my office to find this waiting for me. Best “Thank You” note (from a client who recently purchased a new home) ever.

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Weekly Mortgage Market Update: September 6th 2011

by Alex Stenback 09.06.2011

Last Week: Mortgage rates improved modestly last week, with the benchmark 30 year fixed seeing about .125% improvement by week’s end. The reason?  A drumbeat of very lukewarm economic data, capped off with a truly dismal Employment Report from the Bureau of Labor and Statistics (BLS) which showed our economy netted ZERO new jobs in [...]

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The Federal Govt and The Housing Market: Where do we go from here?

by Alex Stenback 09.01.2011

Federal Reserve Governor Elizabeth Duke gave a lengthy speech today regarding the still-ailing housing market, and put forth a handful of solutions worthy of consideration. Anyone looking for clues as to future policy possibilities should read the entire statement (which is available at The Fed website.) But I read this sort of thing so you don’t [...]

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Weekly Mortgage Market Update: August 29th, 2011

by Alex Stenback 08.29.2011

Last Week: Mortgage rates drifted higher last week, with 30 year fixed rates adding about .125% for the week, and a full .25% increase since the near-term (and all time) low set on August 10th. The most significant news last week was Ben Bernanke’s vaguely optimistic statements from Jackson Hole, Wyoming.  Here the Kansas City [...]

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Born Again: How Long Do You Have to Wait After a Short Sale, Bankruptcy, or Foreclosure?

by Alex Stenback 08.26.2011

(click image to biggify) At nearly 4 years (and running) into the real estate downturn, one question we still hear all the time is: “When will I be able to buy a home again if I go through a foreclosure, short sale or bankruptcy”  With that in mind, the chart above illustrates the standard waiting [...]

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Weekly Mortgage Market Update: Monday August 15th 2011

by Alex Stenback 08.15.2011

Last Week: In one of the more volatile weeks in memory, mortgages managed to make strong gains.  Benchmark 30 year fixed rates even made a run at the sub 4% mark mid-week, but drifted back to 4% or slightly above by the end of the week as stocks managed to close out the week by [...]

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Twin Cities Real Estate: Inventory Improves, and Why You Should Ignore Prices (sometimes)

by Alex Stenback 08.11.2011

The most excellent data-miners over the the Minneapolis Area Association of Realtors have released their monthly housing report.  As always, packed with meaty information on the Twin Cities Housing Market. Of particular note is an inventory situation that seems to be improving.  From the press release: “The 24,328 active homes on the market represent 18.8 [...]

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Fed Statement: Does a Promise That Rates Will Stay Low Until 2013 Apply to Mortgages?

by Alex Stenback 08.09.2011

“The Committee currently anticipates that economic conditions–including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013.” The money quote from Today’s Fed Statement – unusually suggesting a specific timeline before any interest rate hikes [...]

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Agent Beat™ : 7 Quick Questions with Ken Carpenter

by Alex Stenback 08.09.2011

For this week’s Agent Beat™, we chatted with Ken Carpenter, of RE/MAX Results in Plymouth.  Truly one of the good guys on the local real estate scene, Ken and his 3-person team (filled out by a full time assistant and a buyers agent, Svitlana Pashko) sold 62 homes in and around Plymouth and the Western suburbs in [...]

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