Here are my updates for June 4, 2013
Bond markets, including MBS (the ‘mortgage-backed-securities’ that most directly affect mortgage rates), have been on the back foot all month, with the latter making a new low every single day since May 1 (when MBS move lower, rates move higher). Today’s trading had the redeeming quality of NOT making a new low. We can’t conclude anything from 1 session, but it does at least introduce the possibility that we’re digging in at recent highs to make a range between now and next week’s FOMC Minutes. This would look more likely if we see a repeat performance tomorrow.
Read the full article here. Mortgage News Daily
Property taxes are only part of the picture
Do you think your state’s property tax burden is too high?
Before you start complaining how high property taxes are in your state, take a look at the charts below to see not only property taxes are in your state, but total taxes.
Your property taxes may be high for a reason — for example, if, like Florida, your state has no income tax.
First, see how property taxes in your state compare with those in the other 49 states. The following chart shows the amount of local and state property taxes collected per capita in each state in 2009.
See how your state ranks here. Inman News
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”