Recent Move by the Fed Impacts the Market and Home Loan Rates

"Listen to what the man said." The title of Paul McCartney's hit song also applied to Fed Chairman Ben Bernanke last week, as the Fed made an important decision that impacted the markets and home loan rates. Read on for details.

Recently, the Fed unexpectedly delayed tapering of its Bond purchase program (known as Quantitative Easing) as Bernanke said that the economy still isn't strong enough to begin easing back its purchases. Remember that the goal of these purchases has been to stimulate the economy and housing market. In his press conference, Bernanke said that tapering could come towards the end of the year, but for now the Fed will continue to purchase $45 billion per month in Treasuries and $40 billion in Mortgage Bonds.

After the news, Stocks had a record trading day while Mortgage Bonds had their biggest one-day rally since August 2011. This is significant because home loan rates are tied to Mortgage Bonds, so the Fed announcement helped home loan rates as well.

In other news, the Consumer Price Index for August came in below expectations and was lower than the July reading, showing that inflation at the consumer level still remains tame. The year-over-year CPI reading fell to 1.5 percent, led lower by a decline in energy prices, and remains below the Fed's upper target range of 2 percent.

In housing news, Housing Starts rose by 0.9 percent from July to August while Building Permits fell by 3.8 percent. However, there was a big surge in permits for single-family dwellings, pointing towards a sustained strengthening in the housing recovery. Existing Home Sales also came in above expectations, reaching an annual rate of 5.48 million units in August, a six-year high.

What does this mean for Lake of the Ozarks home loan rates? Economic data in the coming weeks and months will be a key factor in whether the Fed begins tapering its Bond purchases later in the year or in 2014. This timing could pay a big role in the direction Bonds and home loan rates move in the months ahead.

The bottom line is that now remains a great time to consider buying a Lake of the Ozarks Home or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.

We would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

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Michael Lasson

Sr. Residential Mortgage Lender

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712

It's Almost Time for Some Fall Family Fun at the Annual Turkey Festival

It's almost time for the  Annual Turkey Festival in Eldon Missouri.  This is one of our favorite events held in Eldon and it draws a crowd from all around the area.  It's been estimated that previous years have brought as many as 12,000 people to the area to enjoy all the Festival Fun!!

The Turkey Festival will be September 28th and is held in downtown Eldon.  The event is fun for the entire family and will include vendor booths, parade, live music, food, car show, demolition derby, figure-eight derby, the turkey trot and 
Gobble Wobble 5k run, Lil’ Mr. and Miss Gobbler and Lil’ Mr. and Miss Turkey contests.  And of course, like every good festival, there will be PLENTY of great food to eat.   We hope that you will take the opportunity to enjoy the great Fall weather at this wonderful event! 

For more information visit the Eldon Chamber of Commerce at www.eldonchamber.com.

We would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712

Housing Market Looks Good with Home Prices Increasing by 12%

"Every day you make progress." Winston Churchill. And the housing market continues to progress in the right direction. Read on for details.
Last week, research firm CoreLogic reported that home prices across the U.S. rose by nearly 12 percent from June 2012 to June 2013. By comparison, home prices only rose 3.76 percent from June 2011 to June 2012. In addition, research and analytics firm Clear Capital said that prices rose 9.3 percent in the year ended in July.

The housing markets have turned the corner to greener pastures, but it's important to note that this pace of growth may be unsustainable. With home loan rates rising over the past several months, this rate of appreciation could slow.

In labor market news, Weekly Initial Jobless Claims rose by 5,000 in the latest week to 333,000, but this was below the 340,000 expected. This followed the Jobs Report for July, which was a bit of a disappointment with less jobs created than expected.

What does this mean for home loan rates? One of the biggest questions on everyone's mind is: When will the Fed start tapering their Bond purchases? Remember that the Fed has been buying $85 billion of Bonds a month to help stimulate the economy and housing market. This includes Mortgage Bonds, to which home loan rates are tied, and these purchases have helped home loan rates remain attractive.

The Fed has said the rate of their purchases will continue to depend on economic data, and could be increased or decreased accordingly. Last week, several Fed members spoke out in favor of tapering these purchases as early as the Fed's meeting in mid-September. However, with our economy growing at sub 2 percent, economic data between now and September will be a key factor in this decision.

The bottom line is that home loan rates remain attractive compared to historical levels and now remains a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or your clients.

We would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712

Top 6 Reasons Realtors refer their Buyers to First State Bank

Attention Real Estate Agents - First State Bank works WITH you to make sure your buyers receive the best service!!

1. Sometimes Lake of the Ozarks second home buyers need to close on Saturdays, that is no problem for First State Bank! We understand the atmosphere of the Lake and realize that some buyers need to the lake Friday after work or Saturday Morning.  I can close anytime on Saturday and fund the same day!
2. Would you like your buyers to close at the Title Company of your choice, that is no problem for First State Bank, we do not require that you and the Title Company close at our facility.
3. How about competitive interest rates at low costs with Great Communication throughout the transaction?
4. Buyers can take the advantage of the opportunity to apply on line and ensure the process be smooth at www.yourlakeloan.com .
5. Can your Lender close in 30 days or less, we can, with our in house underwriting and processing we can in most cases guarantee a closing in 30 days or less.
6. Is your Loan Officer available on the weekends when your buyers are here asking questions?  We are, call me anytime 24 hours a day 7 days a week, my office number is 573-746-7211 or cell phone 573-216-7258.

Give the Michael Lasson Team at First State Bank Mortgage a call today and let us put service back into your buyer’s transaction.  We have put the team in place to guarantee a smooth and efficient transaction!

We would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712