March Comes In Like a Lion and Goes Out Like a Lamb

As March comes in this year, the housing sector continues to roar ahead with good news, while other sectors are struggling. Read on to learn the latest details, and what they mean for home loan rates.


Despite the harsh weather, New Home Sales rose by 9.6 percent from December to January to an annual rate of 468,000, well above expectations. The 468,000 rate was the highest level since July 2008. Pending Home Sales for January also came in just above expectations and well above December's reading. In addition, research firm CoreLogic reported that completed foreclosures fell by 19 percent from January 2013 to January 2014, while the Case Shiller 20-city Home Price Index ended its best year since 2005.

On the other end of the spectrum, the second reading for 2013 fourth quarter Gross Domestic Product (GDP) was, in a word, gross. GDP fell to 2.4 percent from the initial reading of 3.2 percent, sharply beneath the 4.1 percent recorded in the third quarter of 2013. The decline was due in part to consumer spending and exports that were less robust than initially thought, signaling U.S. economic growth remains choppy. However, there was some good news in the report as company spending was revised up sharply, suggesting an improvement in business conditions.

In labor market news, weekly Initial Jobless Claims rose by 14,000 in the latest week, reaching a one-month high as the job markets continues their up and down pattern. The labor market has been choppy lately, especially after the anemic number of job creations in December and January.

What does this mean for home loan rates? Remember that the Fed is now purchasing $35 billion in Treasuries and $30 billion in Mortgage Bonds (the type of Bonds on which home loan rates are based) to help stimulate the economy and housing market. This is down from the original $85 billion per month that the Fed had been purchasing. With the December and January job creation numbers far below expectations, the Fed will be looking closely at February's numbers for any signs of a pattern. If this report and other key economic data points are weak, the Fed may have to rethink the tapering it has begun. This story is sure to impact the markets and home loan rates as we move ahead in 2014.

The bottom line is that now remains a great time to consider a home purchase 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.

I 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

NMLS #: 493712

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

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

What Caused the Recent Home Price Increase?

Home prices continue to rise and even reached a record increase recently. That's the bottom line of a recent release of the S&P/Case-Shiller Index.

What happened? 

• The S&P/Case-Shiller 20-City Composite Index rose in April to beat expectations with a record 12.1 percent increase over the past 12 months. All 20 cities showed positive year-over-year returns for at least the fourth consecutive month. In addition, the following cities continued to show double-digit annual gains: Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, Portland, San Diego, San Francisco, Seattle and Tampa. 

What is the S&P/Case-Shiller Index?

• The S&P/Case-Shiller Home Price Index is the leading measure for the U.S. residential housing market. The report tracks changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. 

What does it mean?

• The overall trend looks good for the housing market and the economy as a whole, as home prices have continued their rise. However, it's important to remember that all markets are unique, which means each local housing market may have its own trend.  If you have specific questions, we can help you understand the Lake of the Ozarks Housing Market. That means now is a good time to not only keep an eye on the national trend, but also to reach out to your Lake of the Ozarks Mortgage Lender to answer your questions and help you make an informed decision about purchasing a home at Lake of the Ozarks.

We would love the opportunity to work with you on 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

2140 Bagnell Dam Blvd, Suite 303B

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712

Is the Current Housing Market In Danger?

"Yet, through all the Gloom, I can see the Rays of ravishing Light and Glory." Those words that John Adams wrote to his wife Abigail are appropriate as we just celebrated our nation's birthday--and as the employment picture brightens with the latest Jobs Report.

Non-farm payrolls surged by 195,000 in June, well above the 166,000 expected, while the data for April and May was revised higher by 70,000. The Unemployment Rate remained at 7.6 percent in June, but the U6 number, which includes people who can only find part-time work or have become too discouraged to look for a job, rose to 14.3 percent.

For the first half of 2013, employers have added an average of 201,000 jobs each month as the labor markets continue to improve. The Fed is watching this number very closely and it will be a determining factor in how long they continue their Bond purchase program known as Quantitative Easing.

The housing market is another key factor in this decision and the good news continues in that sector as well. Last week, research firm CoreLogic reported that home prices, including distressed sales, rose by 12.2 percent in May 2013 compared to May 2012. This is the biggest annual gain since February 2006. However, prices are 20.4 percent below the peak set back in April 2006. Tight inventories and historically attractive home loan rates have been the fuel behind the rise.

What does all of this mean for home loan rates?

Remember that the Fed's Bond purchase program has helped Bonds and Lake of the Ozarks home loan rates remain attractive. But if the housing and labor markets continue to improve, the Fed could consider tapering their purchases sooner rather than later. However, just the talk of potentially tapering these purchases has led to increased volatility in the markets, causing Mortgage Bonds and home loan rates to worsen recently. This is an important story to monitor in the weeks ahead.

The bottom line is that now remains a great time to consider a purchasing a Lake of the Ozarks Home or Lake of the Ozarks Refinance, as home loan rates remain attractive compared to historical levels.

We would love the opportunity to work with you on 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

2140 Bagnell Dam Blvd, Suite 303B

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712