Archive for Economy
Mortgage Rates Hit Record Low
One day after the Federal Reserve announced it would be doubling the amount of mortgage debt it would be buying, mortgage rates fell to a record low at well under 5%. This is the lowest that mortgage rates have been in more than 40 years and this is the perfect time to fulfill [...]
North Texas Housing Market Fairing Better Than Most
The S & P has surveyed 20 large metropolitan areas regarding housing values. According to that survey, nationally, home values have plummeted well over 18 percent. In the 20 metropolitan areas that were surveyed, all are reporting decreases and 8 of the top 20 are reporting that values have declined more [...]
Texas is tops in U.S exports
The U.S. Department of Agriculture has just announced that for the 7th straight year, the state of Texas leads the nation in exports. All that exporting means jobs for Texans!
The exports coming from the Lone Star State, which include chemicals, electronics, oil and transportation equipment, totaled more than $192 billion which represents [...]
Time to Buy – Existing home sales begin recovery
This may be the best time in decades to buy a home. With record low interest rates and very low home prices, housing may just lead the way to our economic recovery. And, it may have already stared.
According to Business Week, in December there was an increase in sales of existing homes. [...]
Stimulus package offers real $8,000 tax credit
The new stimulus package, set to be signed in Denver today by President Barack Obama, will contain some help for first time home buyers. The previous tax credit, which had to be repaid over 5 years, has been replaced by a real $8,000 tax credit that does not have to be repaid.
Homeowners who [...]
Realtors look forward to stimulus
Recovery in the housing market is key to overall economic recovery and no one knows that better than the National Association of Realtors (NAR). They are looking forward to the implementation of the Presidents stimulus package citing a number of reasons why they back this plan.
According to NAR President Charles McMillan, who is [...]
Homeowner bailout? What can we expect?
On Tuesday (2/10/09), Treasury Secretary Timothy Geithner is expected to reveal the administrations plans for the $350 billion remaining in the financial industry bailout package. The federal government wants to set aside between 50 and 100 billion dollars of the money to address the foreclosure crisis, but exactly how that money will be [...]
Big stimulus money for Texans
The State of Texas stands to receive an extraordinary amount of money in the federal stimulus package. How big? Well for some programs, the infusion money will surpass the states annual share of appropriations. Some of the monies, about $270 million, are to be set for clean water infrastructure, which [...]