Change

Change | Mortgage By Jim

We all deal with change in different ways, I guess. I see my own kids deal with change, full of youth, energy, and optimism. I believe my generation sees change as an illusion. We were told just get to the top of the heap and all will be fine. The problem with that, is there is no heap.

The world is changing faster than ever. Massive change has been with us since the day we were born. Change is the one thing we can count on.

While some will do their best to preserve themselves from change. I say it’s better to embrace change and the journey and see where it takes you. Hugh McLeod says, “Change is not death, fear of change is death.”

 

Ready, Fire, Aim

Who could predict mortgage interest rates would remain near 18-month lows? It’s true, mortgage loan rates are very attractive. However there are some economist who are now predicting a hint of inflation which could send mortgage home loan rates rising.

Last week Existing Home Sales in October reached their best level since September 2013. The low home mortgage rates as well as a slightly improving job market are the two key factors that have influenced buyer decisions.

Another positive sign was on the builder side. Building Permits, a sign of future construction, reached their highest level since November of last year. And the National Association of Home Builders (NAHB) reported that its November Housing Market Index rose 4 points to from October to 58. This index gauges builder perceptions of current single family home sales and anything over 50 is seen as positive.

The one negative from the housing sector was October Housing Starts which declined from September. More housing reports are coming next week and we will want to keep a watchful eye if there is a signal of a continued recovery in the housing sector.

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