The Dust Settles after the Fed Meeting

6/15/2017 } Casey Fleming.  As expected, the FOMC raised the short-term rates by 0.25% on Wednesday at the Fed meeting.  More important was the statement released later that day, which covered two very important topics: future rate increases, and “normalization” of its balance sheet, meaning tapering off of reinvestment in mortgage-backed securities or even selling...

Anticipation: Will the Feds Raise Interest Rates?

6/13/2017 | Casey Fleming Last week I wrote that we were almost certainly going to see the Feds raise short-term rates when they meet this week on Wednesday, June 14th. I predicted that mortgage rates would rise starting Thursday in anticipation of what the market would do in response to whatever action the Feds took. If...

Interest Rates at 2017 Lows

6/5/2017 | Casey Fleming In April I wrote that interest rates had slid down to their lowest point in 2017. After a short, small, steady move up they have slowly settled back down to April levels. What’s happening? What drives interest rates? As a reminder, long-term trends in interest rates tend to move according to...

Interest Rates Settle at 2017 Lows

4/8/2017 | Casey Fleming Last week I wrote that barring something surprising in the minutes of the Fed meeting from last month, rates would probably be stable this week.  As it turns out, something surprising was in the minutes, but the markets took it in stride and rates pretty much flatlined. Let’s compare interest rates...

The Feds Mentioned the Elephant in the Room

4/7/2017 | Casey Fleming As I wrote last weekend the Federal Open Market Committee (FOMC) of the Federal Reserve (The Feds as they are known in the hood) was going to release the minutes of its March 14th meeting yesterday, April 6th, and the contents could move the market.  As it turns out, there was...

Listing of the week – a man’s home is his castle

4/5/2017 | Casey Fleming Each week I try to look for something unique in a property. This week’s listing of the week was a no-brainer.  How would you like to own your own English countryside castle?  And for less than $1 million? Our listing of the week. Molly’s Lodge is situated on the northern edge...

Lower Mortgage Rates Last Week

4/2/2017 | Casey Fleming Last week I wrote that due to a thin week of economic reports there was not much likely to happen the week of March 27th to drive mortgage rates one way or another.  I also noted that this coming week (April 3rd) there were more economic reports on tap, and some...

Are Interest Rates Coming Back Down?

Mortgage interest rates rose rapidly beginning the week before the Board of Governors of the Federal Reserve met on March 14th and 15th.  As expected, the Feds raised short-term rates, and that spurred a rally in mortgage interest rates almost immediately. They had come up a long way, however, so they had a long way...

The 27 Best Real Estate Jokes

3/21/2017 | Casey Fleming Real estate is no laughing matter!  Well, usually it’s not.  But when you have 27 classic and new real estate jokes that go to the heart of what we all love about real estate – well, you can’t help but laugh. Emily L’Eplattenier, writing for FitSmallBusiness.com has gathered them here for...

Why Mortgage Rates Dropped This Afternoon

3/15/2017 | Casey Fleming As anticipated, the FOMC – the Federal Open Market Committee of the Federal Reserve (or simply, “The Feds”) – voted to raise interest rates today, raising the discount rate from 0.75% to 1.000%.  So, everyone wants to know why mortgage rates dropped this afternoon.  Yes, that’s correct – dropped.  Shortly after...