2015 Could be Best Year for Home Sales Since 2007 - Freddie Mac
Freddie Mac released its U.S. Economic and Housing Market Outlook for March, highlighting some of the positive tailwinds at the start of the spring home buying season
- Expect 2015 to be the best year for home sales and new home construction since 2007 when total home sales were about 5.8 million for the year.
- Improved job prospects have started to drive those aged 25-34 back to the labor force, with 76.8 percent employed as of last month, up from 75.9 percent last year.
We had a great week for mortgage interest rates, with the top tier 30 yr fixed rate down to 3.75%, after the Fed meeting this Wednesday. If you pay close attention to these meetings and the hype behind them it is almost humorous the amount of speculation made before the meeting on if the word “patience” was going to be taken out of the Fed statement on its timeline for increasing the target range for the Fed Funds rate. But Fed Chair Janet Yellen said "Just because we removed the word 'patient' does not mean we will become impatient." She mentioned waiting for further improvement in the labor market before they make that move and indicated there was no decision on timing for the proposed rate increase. The market move favorably after these remarks and hopefully there are plenty of spring buyers out this weekend ready to take advantage.
By the way, Trident Mortgage is number 56 in top 100 Mortgage Companies in the nation in Mortgage Executive Magazine. Pretty impressive for only being in the Tri-state area! A big thank you to all of our Realtor that support Trident Mortgage!
Trident Mortgage Company
109 34th Street
Ocean City, NJ 08226
Fox & Roach/The Trident Group LP
A HomeServices of America, Inc Company and a Berkshire Hathaway Affiliate
"Professionals helping people achieve the dream of homeownership"