Now that we know this recession started in Dec. 2007, what are the various tools to help us climb out of it? We can look at the stimulus packages already in the works, but immediate help may come from several proposals to lower interest rates that would stimulate real estate sales.
The Federal Reserve has agreed to use $500B to buy up all manner of debt and Mortgage Backed Securities from the GSEs, including Fannie Mae, Freddie Mac, and FHA/VA. This will in effect bring down the cost of new mortgages by relieving them of any questionable assets on their books. Just the announcement of this plan has already driven down conforming fixed rates one half percent in a week.
And the new Jumbo-conforming product with higher loan limits that takes effect in 2009 should give real estate a boost if rates remain as low, or lower than they are now. The 2009 jumbo-conforming 30-year fixed rate is currently quoted at 5.25 percent, for loans that will be funded in 2009.
And lastly, the Treasury is talking about buying down fixed rates to around 4.5 percent for home purchases, in order to reduce the huge inventory of unsold new and existing homes. This will give a boost to housing values, which is what lower interest rates tend to do. In fact, rates are still too high for most homeowners. Some 10 million homebuyers have negative equity in their homes and that total will continue to climb if values don’t stabilize, thus causing more foreclosures.
The latest housing price indicators are still falling. The Case-Shiller index said all three aggregate indices and 13 of the 20 metro areas are reporting new record rates of decline. Looking at the returns of the U.S. National Index, prices are back to where they were in early 2004. As of September 2008, the 10-City Composite is down 23.4 percent from its peak, the 20-City Composite is down 21.8 percent and the National Composite is down 21.0 percent.
But pending purchase contracts for existing homes have begun to level out. The National Association of Realtors’ Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8.
Lawrence Yun, NAR chief economist, said a review of the past year is instructive. “Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range,” he said. “We did see a spike in August when mortgage conditions temporarily improved, which underscores two things – there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market.”
There is no question that any further drop in interest rates will continue to help home sales and prices. The NAR’s Affordability Index has continued to climb and is up a whopping 34 percent from 2006, at the height of the housing boom. This is both due to the lower interest rates, and the fact that the national median existing-home price has fallen 18 percent since 2006.
© Harlan Green 2008
Saturday, January 3, 2009
Subscribe to: Post Comments (Atom)
Now people can watch all that they want to in a number of clicks.
This trend brings more enthusiast people to upload the beautiful funny videos to share
with others and get their precious feedback.
Use old fabric to create puppets, monsters,
and any other creatures that your child can imagine.
Here is my page - funny pictures animals cats
The Fitness Tips for
motivation we've been discussing can be very powerful if you use them. My grandma can really feel vindicated at such a claim,she's
been saying this all my life. Visit a Dermatologist: If you are facing
any chronic skin problem like pimples, acne and blemishes then
consult a doctor at first place before going to a beautician.
The final step toward making your funny picture or video popular is to
find the right distribution. Every day many new websites are coming
on the internet, which can be used for all
sort of access to stuff that can make you smile.
Locate a respected joke internet site that allows
you to make use of the offered jokes which means
you won't need to worry about email viruses.
Feel free to surf to my homepage ... http://www.videoblast.us/index.php?do=/profile-8113/info/
Based on my own experiences I am going to make five recommendations that I wish someone had made to me to
help take the fear out of fitness. Blowing off some steam with a quick round of solo travel fitness in the morning can make your whole day brighter.
Get your heart rate up with a quick burst of fast movement.
Feel free to visit my web site: fitness tips and workouts
Sometimes we can't imagine that sports are so funny but we really enjoyed when we look at funny sports pictures, moments and videos. They are no different than us, as people who are loved and cherished by thier families. Aside from making your self blissful you also carry others to be comfortable too.
Look into my web page: free funny pictures animals
Don't put limits on what you eat as much as you do how much you are eating. Training with intensity does not mean training foolishly; you must always train within your limits by using an appropriate resistance and exercises that you are capable of doing. I am aware this seems enjoy ridiculous advice - Get real if you may possibly just flip a switch and enjoy exercise you would certainly, right.
My webpage - http://feinz.altervista.org
Greetings, Do you believe its then terrific to get an utilized inkjet for home usage?
Where can i locate Amazon or Best-Buy?
Feel free to surf to my page xerox phaser 8560dn driver
Aww, thanks Neen!! Can't wait to get started on sending you goodies inside the post xx
Also visit my homepage; ,jewellery discount online
I have read several excellent stuff here. Definitely value bookmarking for revisiting.
I wonder how so much attempt you set to make this type of great informative website.
Here is my blog post: xerox mfp 8560
I absolutely covet the arum design earrings. I like the art nouveau lines than
me, as well as the classic simplicity. Just
My site :: Radio-pionir.com
Things very open which has a clear clarification on the
challenges. Rrt had been definitely informative.
Your websites are useful. Appreciation for sharing!
Also visit my weblog: gunchinews.com
Exercise can help to avoid menopause weight gain and reduce other
risks including osteoporosis, heart disease, and arthritis.
We know because they have done so for millions of other people.
Remember; there is a difference between a fattening diet and a healthy diet.
my weblog click the following page
Sometimes we can't imagine that sports are so funny but we really enjoyed when we look at funny sports pictures, moments and videos. There you have it, folks, in a nutshell: the chief feature of My - Space is that it's quick and easy enough to use that you can post a bulletin or check a friend's page and be done in the two minutes that it takes your boss to come over to your desk, suspicious that you're once again not working.
And if you are not ready for it, then believe it, your boredom will stay.
Stop by my weblog - funny pictures and signs
A enormous pair of shoes, perhaps not the most gorgeous, not the more costly, nor is systematization reputation, nonetheless it takes people to outing the current crowd, Christian Louboutin Sale
only you can utilize the pleasure shoes not till hell freezes over fit, perhaps enviable,even so the injured indeed.Asics Australia
A situation you need to have encountered, walked all about typing on my showcases in countless sorts of shoes you see stunning, oh favourite to allow. The expense is unexcelled isn't really alluring, like totally costly, cordial composition help of mould, guess good-looking those that regard as old-fashioned ... rebel into public notice to be unequivocally thrilled with unreservedly difficult. Pick on, for all opted through despite a twins, wear the yoke of to discover to be foot fray, or no way to conform to their clothes,http://www.mislouboutinaustralia.com
the superlative habit to complete this time? To trade up'd rather nociceptive to want to wear?
My partner and I absolutely love your blog and find most of your post's to be what precisely I'm
looking for. Would you offer guest writers to
write content available for you? I wouldn't mind composing a post or elaborating on many of the subjects you write regarding here. Again, awesome site!
Take a look at my web page :: Xerox 8560 mfp
Yes, you could download and install Hp Laserjet 1020 printer
vehicle drivers from this site, plz follow this like for Hp laserjet motorist Download for hp 1020.
my weblog ... http://www.nepalmelbourne.com
Very rapidly this website will be famous amid all blogging people, due to it's pleasant articles or reviews
Here is my web page :: xerox 8560 service manual
hi , Your website is realy morvelous , i do believe its wanderful , can we buy
this shoes , iam from asia . please answer my electronic mail , bye .
again i shoul say to you your sayte is fantastic .
my web page danon jewellery fashion jewelry
Everything is very open with a really clear description of
the issues. It was really informative. Your site is
useful. Many thanks for sharing!
My homepage: latest celeb news
Way cool! Some extremely valid points! I appreciate you penning this article and also the rest of the site is really good.
Also visit my website: Biomedical Companies
hi for sale music band plus a engagment ring purchesed from bell & brunt adelaide discription
is often as follows.
Beautiful diamond ring and wedding band.
Contains Valuation Certificate from Bell and Brunt jewellers.
Diamonds: 1 x .34 ct. brilliant, G-H/VVS. 1 x .17 ct. brilliant, G-H/VVS
Also visit my web blog ... danonjewellery.tumblr.com
Sometimes seasons reasons some shoes procure been[url=http://niketrainersuksale.webeden.co.uk]http://niketrainersuksale.webeden.co.uk[/url]
in won't have the perception to[url=http://tomscanadaoutlet.snappages.com]http://tomscanadaoutlet.snappages.com[/url]
use such shoes all of us[url=http://addnikecanadastore.snappages.com]Nike Shoes Canada[/url]
rightly feeling them inside the[url=http://niketrainersuksale.webeden.co.uk]Nike Blazers UK[/url]
set upright position edict to avoid dispensable injure of shoes[url=http://salelouisvuittonuk.webeden.co.uk]http://salelouisvuittonuk.webeden.co.uk[/url]
In at all events your insole is admittedly poor, as opposed to want to exercise a calm bracken and water gently scrub. Forced to unquestionably be distinguished that, steer clear of the avail oneself of of chemical cleaning agents cleaning, or they instances call the insole ostensibly of cloth off.[url=http://shoppradabagsuk.webeden.co.uk]Prada UK[/url]
Thanks match, functioned like an attraction. This has
been doing my head in for days !!
Also visit my web-site xerox phaser 8560 ink
Try Klepner's at 324 Little Collins St.
my blog :: adorned jewellery
extremely fascinating, many thanks a lot!
Look into my site - xerox phaser 8560 driver
Interestingly, I'm currently acquiring a limitcheck mistake on an HP4700- less than 2 years aged! )Our now inoperative 4600 never ever had this problem when publishing the exact same file!
Feel free to surf to my web-site: xerox phaser 8560dn
Great to hear!
Have a look at my web site: Xerox Phaser 8560 Ram Error
Hi everyone, it's my first pay a quick visit at this web site, and article is truly fruitful in favor of me, keep up posting such content.
my web blog - http://www.cutzilla.com/groups/main-highlights-of-the-xerox-phaser-8560
Heya i am for the first time here. I found this board and I find It really useful
& it helped me out a lot. I hope to give something back and help others
like you helped me.
my web site: xerox 8560 error codes
I'm writing to allow you to be keep in mind on the impressive encounter my cousin's daughter had checking your webblog.
She established some issues, with the inclusion of how
it's enjoy having a remarkable coaching nature to make the others really easily understand various very puzzling intended theme. You actually did in excess of our expectations. I appreciate you for imparting the useful, trusted, educational as well as fun tips about this topic to Jane.
my site: ,cheap earring online
hi, I am interested in LG LED TV which uses a latest TV technology, probably IPS.
LG claims that this IPS technology is superior to the VA panel.
Also visit my blog post - LG 42 inch LED TV
It's appropriate time to make some plans for the future and it is time to be happy. I've read this pοst аnԁ if I сoulԁ ӏ wаnt to suggеst you ѕome inteгeѕting things or tips.
Pеrhaрs уou could write next articlеѕ rеfеrгіng to this аrticlе.
I wish to read more thіngѕ аbout it!
Heгe іѕ mу blog рost ... proxies for facebook
you are so warm.
my blog - xerox phaser 8560 maintenance kit
nice to uncover circuitstoday.com.
My website :: http://couponscanadaguide.com/garnier-fructis-style-coupons/
Many of the pieces are gorgeous, but i believe the Waverly 3 Way bag
is the best. Photograph looking for a stylish and functional bag!
Also visit my website - ,jewellery Discount shop
Keeр this gοing please, grеat jοb!
Hаvе a look аt mу sitе:
Yes, you could download and install Hp Laserjet
1020 printer drivers from this website, plz follow this like for Hp laserjet motorist Download for hp 1020.
Stop by my blog post ... revolution-solution.blogspot.co.uk
It really is cute is it not? I actually got these
in San Diego but surely the F21 at Fashion Show Mall may have it.
Otherwise you can aquire that a person online.
Feel free to surf to my web blog - designer silver jewellery
Pretty! This has been an incredibly wonderful post.
Many thanks for supplying these details.
Also visit my web site :: xerox 8560 review
Magnificent goods from you, man. I have take into account your stuff previous to and you're just extremely magnificent. I really like what you've obtained right here, certainly like what you are saying
and the way in which during which you are saying it. You're making it entertaining and you continue to care for to stay it smart. I can not wait to learn much more from you. That is actually a tremendous web site.
Have a look at my webpage ... hultquist jewellery online
Having read this I believed it was rather informative. I appreciate
you finding the time and effort to put this information together.
I once again find myself personally spending
way too much time both reading and posting comments. But so what,
it was still worth it!
Also visit my blog post: xerox 8560 solid ink
Can be completed specifically similarly Gary .
.. if you are discussing the tearable kind from Avery.
Personal cards are a little more challenging and also depend on the paper
managing abilities of your individual printer.
Also visit my web site; xerox phaser 8560
This paragraph is in fact a good one it helps new the web
people, who are wishing for blogging.
Also visit my weblog; xerox 8560 cartridges
Hi, after reading this awesome article i am also glad to share my experience here with mates.
Also visit my page :: xerox 8560 manual
bring the purchase price look out onto $4.99 .
.. really a good deal! I ought to include that Used to order the pink feather
earrings which i posted about before, and i also absolutely love them.
They are a lot louder than most
Check out my web page ,cheap bridal earrings
Hello! I could have sworn I've been to this blog before but after going through a few of the articles I realized it's new to me.
Regardless, I'm certainly pleased I came across it and I'll be book-marking it and checking back frequently!
My weblog ... xerox 8560 mfp
Nice blοg! Is уοuг themе custom madе οr did you download it from ѕοmewherе?
A deѕign likе yоuгѕ wіth a few simple аdjuѕtements
ωoulԁ геally make mу blog shinе.
Рleasе let mе know whеre you got your theme.
Heгe is my ωebρаge; facebook marketing applications
Hi there, just wanted to say, I liked this article.
It was practical. Keep on posting!
Visit my site - xerox 8560 specs
Truly Interesting. Thanks for the Details. I like your website.
Also visit my website; xerox phaser 8560mfp (http://wiki.sascha-stettler.ch)
With havin so much content do you ever run into any problems of plagorism or copyright infringement?
My site has a lot of completely unique content I've either written myself or outsourced but it seems a lot of it is popping it up all over the internet without my agreement. Do you know any ways to help reduce content from being stolen? I'd
certainly appreciate it.
Feel free to visit my web page :: Private Cloud Hosting - -
While we're tackling the topic of Design A Wedding Ring, Gold remains strong in perceived value but it ought to be noted that silver is unpredictable in today's world.
The yellow metal remains known as metallic with cost while silver is both industrial and monetary.
Historically, gold may be stronger than silver, though with the increasing momentum and demand,
silver may very well be quite prosperous for investors.
Also visit my web page; silver jewellery sets
Wow, amazing blog layout! How long have you been blogging for?
you make blogging look easy. The overall look of your website is magnificent, as well as the
Here is my website: xerox 8560mfp
I absolutely love the Bird and Hearts Necklace!
I've liked the Duke and Dutch facebook page!
My site ... danon jewellery fashion jewelry ()
Exactly what about printing index cards?
Here is my blog post; xerox phaser 8560 error codes
When can you post again? You inform many people!
Review my blog :: danon jewellery uk
My business is deeply in love with your diamond and
sapphire rings! Also the stackables. Wow... Where do we find everyone?
Want to come do a little shopping! :D Now for some
more "browsing" through your site.... excited jiggle!
Also visit my blog silver jewellery boxes
Нi there! Тhis іs mу 1ѕt comment here ѕο I јust
wanted to giѵe а quick shout οut anԁ tell you
I gеnuinely еnjοy гeаdіng уour аrticlеѕ.
Can you ѕuggest any othеr blogs/ωebsitеs/forumѕ that deal wіth thе same subϳects?
Thanks a lot!
Fеel freе to νisіt my homеpagе -
It is not my first time to go to see this website, i am visiting this web page dailly and obtain fastidious facts from here
all the time.
Here is my webpage - xerox 8560 drivers
electronic cigarette, electronic cigarettes, electronic cigarettes, electronic cigarette, smokeless cigarettes, smokeless cigarettes
Post a Comment