Boy, Oh Boy, I’m ready for some good news, what about you? While economists are spewing gloom, based on what their 2010 forecasts are telling them, the American people are tired of hearing it and think improvements are ahead.
That's the positive chord struck by Federal Reserve Bank senior economist Gary Zimmerman from San Francisco, during his presentation at the Tri-County Economic Forecast Conference last week.
Whatever way the Federal Reserve collects and analyzes information pointing to the negative economy, the agency has found that the American people are a positive bunch.
"Their expectations are that things are going to get better," Zimmerman told the 450 who gathered at Chico State University for the annual event put on by the Center for Economic Development. Read more…
Economic Week in Review: Slow but steady growth. Another week brought more mixed news about the U.S. economy. The Federal Reserve's most recent Beige Book showed continued signs of economic growth, while many businesses increased their inventories, signaling an expected pickup in sales. Consumer prices continued to rise slowly, but inflation remains in check. Meanwhile, December's retail sales were less than expected, despite a relatively good holiday shopping season. For the week, the S&P 500 Index dropped 0.8% to 1,136, while the yield of the 10-year U.S. Treasury note fell 13 basis points to 3.70%. Read more…
What’s ahead for home prices? Sales are ticking up, but don’t expect prices to follow until the middle of the year. In the second half of 2009, the housing market seemed to catch its breath after struggling to recover from the most severe downturn since the Great Depression. The first-time homebuyers tax credit and low mortgage rates lured buyers who’d been dithering and helped move the glut of foreclosures that has been dragging down home values. Read more…
Rates on 30-year mortgages drop to 5.06 pct, second straight weekly decline. The average rate on a 30-year fixed mortgage was 5.06 percent this week, down from 5.09 percent a week earlier, mortgage company Freddie Mac
Rates dropped to a record low of 4.71 percent in early December, pushed down by an aggressive government campaign to reduce consumers' borrowing costs, but then rose steadily for the rest of the month. Read more… said.
Unemployed? Good news! CHICO — The new Obama-appointed director of rural development for California wants to know what can jump-start job creation in Butte County. Read More…
Support for the Housing Market is on the way! Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. Read more…
Have you been thinking about buying but just not sure! The federal income tax credit for homebuyers has been extended and expanded to now include homeowners who wish to "move on" after 5 years of living in their current property, as well as first-time homebuyers. Read more…
Tools you can use… Home Value Estimator
http://www.coldwellbanker.com/real_estate/Home_Value_Estimator
Better yet Steve@SteveWilliamsTeam.com
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