The week ahead will provide more details on the Homeowner Affordability and Stability Plan due to be released on Wednesday. Among the details to be released is information on whether loans that are in good standing, and which are already guaranteed by Fannie Mae and Freddie Mac, will be able to refinance, even if the loan balance is 5% greater than the home's current value. This will determine the ability of many homeowners to benefit from lower rates. Currently many homeowners would love to cut their monthly expenses with the lower home loan rates available today, but are unable to do so due to the drop in home values.
We received some good news from Reuters, as they released the results of a survey of 47 professional forecasters, predicting that the economy will begin to recover in the second half of this year. Additionally, the Chicago Purchasing Managers Index was better than expected, and being a forward-looking indicator, this gives another bright spot of hope down the road.
Have a great week!
David J Edwards
Real Estate Agent & REALTOR
The David J Edwards Team
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
Mobile Site: http://davidjedwards.mofuse.mobi
Community Reports: http://www.topmarketer.net/CSR/CSReport.aspx?CV4GU5KAYOEF
View This Week's Market Conditions Around Your Home: http://www.homeinsight.com/Widget/default.asp?BFBMVVHW4HZT
The David J Edwards Team specializes in Residential Real Estate for buyers and sellers.
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