Mortgage news

IN THIS ISSUE...             "Movin on up." The theme song from the 1970's sitcom The Jeffersons could have been sung in the markets last month--as we saw rises ranging from the debt ceiling to the housing industry. The articles below highlight the information you need to know: Let's Make a Deal - The housing market received good news while most of the media attention was on Washington. What to Watch - Despite delays due to the shutdown, the official Jobs Report remains closely watched. Family Time - Try these suggestions for a fun, meaningful family get-together this season. Q&A: Medicine Cabinet Cleaning? - Read this article before cleaning out your medicine cabinet. If you have any questions or would like to discuss your unique situation, call or email today. And please forward this newsletter to friends, family members and coworkers who may find the information helpful.         Let's Make a Deal               The biggest news last month was that a deal was reached before the October 17 debt ceiling deadline. As part of the deal, the government voted to fund itself through January 15, 2014 and to extend the debt ceiling limit through February 7, 2014. Although the government shutdown and debt ceiling debate commanded most of the media spotlight last month, some good news for the housing market was reported. Research firm CoreLogic reported that its Home Price Index showed a year-over-year increase of 12.4 percent from August 2012 to August 2013. That marks the eighteenth consecutive month of year-over-year gains. In addition, CoreLogic reported that foreclosure inventories in August dropped by 33 percent nationally compared to August 2012. This was the twenty-second consecutive month with a year-over-year decline. In other news, the minutes from the Fed's September meeting of the Federal Open Market Committee were released. The report showed that all FOMC members except one want to see more evidence of sustainable economic progress before they trim their Bond purchases. Remember that the Fed has been purchasing $85 billion in Bonds and Treasuries each month to stimulate the economy and housing market. 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 for you.         What to Watch: Official Jobs Report             One of the most widely watched reports each month is the official Jobs Report. Here's a breakdown of what this report includes and what happened recently. What is it? The Jobs Report is a monthly report released by the Labor Department. It includes the most recent data on non-farm payrolls and the overall unemployment rate, as well as hourly earnings and the average workweek. When is it released? The official Jobs Report is released the first Friday of every month. Due to the government shutdown, the September report was delayed until October 22. What happened last month? The Labor Department reported that employers added 148,000 workers in September, which was below the 183,000 that was expected. However, the numbers for July and August were revised higher. Additionally, the Unemployment Rate fell to 7.2 percent, which is the lowest level since November 2008. I'll be watching this report when it's released each month to see how it may impact home loan rates. If you have any questions, please call or email.         Special Ways to Spend Family Time             We live in a fast-paced world. The hustle and bustle of everyday life, combined with modern day technology, can detour us from spending a good amount of quality time with our families. Can you think of the last time that your family gathered together--holidays and meal time excluded--away from the television, without cell phones and free of outside distractions? This fall and winter, consider cozying up as a family. Here are a few fun and meaningful things to do together: Watch old family videos. There's nothing more fun than taking a walk down memory lane--and to do that, you don't even have to "take a walk." Pop in some of your favorite old family videos, sit back and have a few good laughs together. And don't fret if all your old videos are actually on videotapes. Companies like iMemories® enable you to set up an account and ship your old videotapes to them. They will digitize and preserve the tapes and then send the videos to you to view online. From there, you can watch, share and customize your own DVDs and the company even ships you back your original VHS tapes along with DVDs that you've customized. This is an easy, efficient and affordable way to guarantee some family fun! Make scrapbooks. Have your children pick out some of their favorite family photos, organize them and then glue them to construction or scrapbook paper. They can make their own albums and take turns sharing their scrapbooks with each other, explaining why each photo was chosen and what memory it brings to mind. Or, your children can create an album together. Either way, this is a fun, intimate opportunity to reflect on the great things you have done together as a family throughout the years. Write celebration letters. While the old adage "actions speak louder than words" may ring true, it's also true that our words have a tremendous and meaningful impact on each other. According to Kidshealth.org, "Sharing also helps you to get closer to people you care about and who care about you." Draw names from a hat and then write a letter that celebrates the family member whose name you drew. Or consider having each family member list out three of their favorite things about the person whose name they drew. Then take turns sharing. Play a good old-fashioned game of charades. What screams creativity and brings about the use of your imagination like the game charades? This game is a real crowd pleaser, especially for younger children. Familyeducation.com outlines some easy to follow directions to help level the playing field. No matter how chaotic your family's schedule is this season, remember that the best present is often your presence. Be proactive about spending time with your friends and family--so you can enjoy the real spirit of the holidays.         Q&A: Medicine Cabinet Cleaning?             QUESTION: Should you clean expired medication out of the medicine cabinet? ANSWER: It turns out that medications are effective far longer than the label on the bottle would lead you to believe. According to the Wall Street Journal, between 1993 and 1998 the military commissioned the FDA to test more than 100 drugs. They found 90 percent of both prescription and over-the-counter medications were safe and effective well past their expiration dates--some as much as 8 to 15 years longer. That said, if you have any concerns about specific medication, bring the container to your local pharmacist who is a great free resource for exactly this kind of information.

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