June 19th, 2014
This week’s FOMC meeting has adjourned with no change to key short-term interest rates which was expected. The post meeting statement indicated that a strong majority of voting Fed members believe they will remain at current levels until sometime next year.
The surprises came in the updated economic projections, which indicated the Fed felt the economy was going to grow at a slower pace than previously thought. The biggest change came in the overall Gross Domestic Product (GDP) that was revised from a 2.8 – 3.0% annual rate of growth to only 2.1 – 2.3%. They also said that the employment rate will likely fall to 6.0% when previous forecasts predicted 6.1 – 6.3%. Furthermore, their confidence in the path the economy is heading showed in another $10 billion reduction in monthly bond purchases (now $35 billion).
Real estate investing is never as easy as it seems. (Did you read our series on it?)
Zillow Blog provided their top ten real estate investor mistakes in no particular order.
Your credit score is one of the most important numbers in your life. Generally, if it’s under 640 you may have difficulty qualifying for a mortgage loan. And if you do get a loan, you may pay higher interest rates.
Unfortunately, your score could be lower even if you appear to be doing everything correctly, and that’s not fair. Here’s some areas where it’s especially unfair.
Talk with a reputable loan officer to find out options for mortgages. They spend quite a bit of time each week staying on top of the latest market trends as well as options from multiple lending sources.