Just the thought of Quantitative Easing 2 has put a floor under Austin interest rates. Why many expect the Fed to move in that direction (November meeting), nothing has yet to happen. Fed Chief Bernanke is leading the QE2 charge, talking about “additional purchases” and how it was an “effective program” earlier in the year.
Last week's housing market data centered on Standard & Poor's S&P/Case-Shiller Home Price Index. This showed home prices UP in July for the fourth month in a row, but the pace of their gain had slowed from prior months. With the expiration of the government's home buyer tax incentives, some observers wonder if the S&P/Case-Shiller will keep moving up. The composite 20-city index, a broad measure of U.S. home prices, showed a 3.2% increase year over year, the sixth month in a row it posted an annual gain.
Today, much like yesterday morning, we had the release of several economic numbers, some volatility, and a bond market that settled into neutral territory before pricing went out.
Although daily volatility was high this week, Austin mortgage rates ended the week nearly unchanged. A steady stream of economic news was roughly neutral for Austin mortgage rates, as stronger than expected economic data was offset by solid demand for the week's Treasury auctions.
Property pictures, virtual tour, Austin mortgage information, schools, city demographics and more for 3304 Clawson Rd, Austin, TX 78704, MLS# 3888927.
At the start of the new fiscal year(tomorrow), it appears the USDA Rural Housing program will operate under Continuing Resolution authorization until the Agricultural Appropriations budget is finalized. This frequently happens at the start of the new fiscal year when the House and Senate don't finalize the budget prior to year end.
Property pictures, virtual tour, Austin mortgage information, schools, city demographics and more for 4401 Speedway #100, Austin, TX 78751 MLS# 9117013.
Summer's over, so it's back to school for the kids and back to business for the rest of us. As you take a look at what lies ahead, it's easy to come to the conclusion there simply isn't enough time to get everything you want accomplished. You can't squeeze one more day out of the week or one more week out of the year, but you can find an extra hour each day without much trouble at all.
Auction Update: 7-yr note auction draws 1.890%. Sees a 3.04 bid to cover (10-auction average of 2.84) and indirect bidders taking down 50.2%. Best bid to cover since 7-yr was brought back in Q1 2009. Pretty solid auction -Treasuries and mortgages are regaining some of the ground lost during the morning trading.
Property pictures, virtual tour, Austin mortgage information, schools, city demographics and more for 2105 Glendale Place, Austin, Tx 78704, MLS# 2285673.
