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Mortgage Rates Set New 2011 Lo

Mortgage rates have continued their decline and have set yet another 2011 low, according to the Wall Street Journal.
A decrease in new jobs has caused the mortgage rates to fall to the lowest point of the year. The decline in fixed rates represented the eighth-straight weekly fall.
This is a result of the statement by the Bureau of Labor Statistics this week that employers did not add nearly as many private-sector jobs as they expected.
Freddie Mac’s most recent survey shed light on the lower rates, and the downward trend is continuing.

Mortgage Rates Set New 2011 Low

Mortgage rates have continued their decline and have set yet another 2011 low, according to the Wall Street Journal.

A decrease in new jobs has caused the mortgage rates to fall to the lowest point of the year. The decline in fixed rates represented the eighth-straight weekly fall.
This is a result of the statement by the Bureau of Labor Statistics this week that employers did not add nearly as many private-sector jobs as they expected.
Freddie Mac’s most recent survey shed light on the lower rates, and the downward trend is continuing.

How to Decorate Using Feng Shui

Feng shui is an ancient Chinese system of aesthetic arrangement believed to help improve life by receiving positive qi, sometimes spelled chi. In a new home, or when rearranging things in your current home, utilizing feng shui principles in decor is not very difficult.

The video below introduces concepts of arranging furniture using the principles of feng shui.

Tagged as: decor, feng shui, stress reduction

To payoff your mortgage or not that is the question!!

Should You Pay Off Your Mortgage?

Homeowners may dream of the day they can pay off the mortgage. Financial advisors across the country say they are hearing questions all the time about the wisdom of retiring the mortgage early.

The pros:
* The obvious reason to do it: Paying off the home loan could save tens of thousands of dollars in interest during the time you would make payments.

* The second reason is the peace of mind you have from owning your home free and clear.

* Most experts recommend owning your home free and clear before you retire.

* If you still have a higher interest mortgage, paying down your principle will make refinancing easier.

The cons:
* Some financial needs should come first: Max out your 401(k) contributions. Pay off credit cards. Create a 6-month emergency cash fund.

* Mortgages are cheap money. When you pay down your mortgage or pay more every month, you are probably hoping for those big dollar savings on interest. But remember these are future dollars and they will be worth less 20 years from now. Keep your higher value dollar today and pay the bank its lower value dollar in the future.

* If you plan to move to another city or trade up or down, it’s not wise to pay off the mortgage. You would tie up your money in a home you might not be able to sell very soon when you want to buy another one.
* The mortgage interest tax deduction doesn’t help everyone. If you are in a high tax bracket, it’s more valuable. If you are retiring or in a lower tax bracket, it’s not worth as much.

* Check to see if the investment you could make with the payoff money would earn more interest than what you are presently paying on your home loan. A 50/50 stock/bond portfolio has historically earned 8.2 percent in the long term, but might only make 6 percent now, according to Money magazine.
Their conclusion The Money experts say that if paying off the mortgage

Accountability Equals "Engagement"
by John G. Miller

I've been in the training industry since 1986 and have heard a ton of "buzz" words. To me, a buzz word is a word (or phrase) that borders on fancy, is definitely trendy, and people use it as a shortcut to describe an idea that could be described more effectively using regular words.
The reason I mention this is one of the newer buzz phrases is "employee engagement."

A quick aside: While preparing this QuickNote, my QBQ, Inc. colleague, Kristin, and I were talking about this "engagement" thing in my home office when 21-year-old daughter, Molly, walked in. After listening for all of three seconds, she energetically asked, "Who's getting married?!?"

Seriously, though, do we really need to give the idea of having employees who love their work a new name? As we say in Chapter 11 of Outstanding!, exceptional organizations and people do not speak in code! I know execs everywhere think it's their job to stand up at meetings and report the most recent "employee engagement" survey results, but couldn't we spend less time surveying and more time doing what gets us there? You know, things like ...

• Hiring people with work ethic and character who possess the personal pride required to do outstanding work.

• Training managers to drive authority, ownership, and passion into the team.

• Clarifying organizational purpose while helping individuals connect their personal mission (purpose) to the greater cause.

• Strengthening the culture by making personal accountability a core value, thereby eliminating blame, procrastination, and complaining!

Yes, that's what outstanding organizations do each day to get—and keep—people "engaged."

But, if the organizational world insists on using shortcut buzz phrases like "employee engagement," let's be clear about what it looks like. Here's a story from Thom of Purdue Pharma. Both Thom and Purdue are longtime believers in and users of QBQ! and its life-changing message of personal accountability. Enjoy!

It was 10pm in Albuquerque, and my flight home to Tucson through Phoenix had been delayed due to bad weather. My new estimated time of arrival was 2am. But things quickly improved thanks to a TSA employee named Larry. He will forever raise the bar for security officers at airports everywhere!

Larry was directing passengers to several lines for baggage x-ray and security checks. What was totally surprising, however, was his enthusiastic approach to the job. Instead of mechanically pointing travelers to line number one or two, Larry proudly introduced himself to thirty or so exhausted passengers by shouting, "Good evening everyone, my name is Larry. I'll be helping you through security tonight. And just so you all know, it's my birthday!"

Well, I couldn't contain myself after seeing and feeling his enthusiasm, so I shouted back, "Happy birthday, Larry!" He laughed and said, "It's not really my birthday, I just love the attention!" Then like a maitre d' in a fine restaurant he asked the folks next in line, "How many in your party?"
They replied, "Three." He responded, "Smoking or non?"

Meanwhile, a new line had been opened. As he waved several people into it, he quoted the movie Finding Nemo by chanting, "Just keep swimming, just keep swimming!" Everyone cracked up! By now, I couldn't help but be amazed at how Larry's attitude buoyed so many weary travelers. Then to the group behind me he declared, "Hi, everyone! I'm Larry!" And like a group attending a self-help seminar, the crowd enthusiastically replied in unison, "Hi, Larry!" As they moved toward the scanners, he joyfully delivered their instructions. I trudged on to my gate as Larry's cheerful voice faded into the background.

Thom’s story is a terrific picture of "employee engagement" and personal accountability which, of course, cannot be separated. Instead of asking whiny, blaming questions like, "When will travelers learn the rules?" "Why don't I get paid more?" and “Who stuck me on this crummy shift?” Larry embodied personal accountability by asking The Question Behind the Question. QBQs such as, "What can I do right now to serve my customers?" and "How can I exhibit passion for my job?" actually cause people to be "engaged."

Loving our work like Larry loves his work is a worthy goal for each of us. Here are two more accountable questions (QBQs) that move us in the right direction:
"What can I do today to demonstrate enthusiasm on the job?" and "How can I contribute right now?"

Clearly, PERSONAL ACCOUNTABILITY is worth engaging in!

rket commentary

This Week’s Market Commentary

This week is very light in terms of scheduled economic reports that are relevant to mortgage pricing.
There are also two Treasury auctions taking place that may influence mortgage rates, but we may see the stock markets drive bond trading and changes to mortgage pricing a good portion of the week.

There is no relevant data scheduled for release today or Tuesday. Fed Chairman Bernanke will speak at the International Monetary Conference in Atlanta this afternoon, but I don’t believe we should consider this a highly important event.

There could be reference to the some of the current financial crises overseas. However, unless something said by Chairman Bernanke is highly surprising, I suspect that his speech will have a minimal or no impact on today’s afternoon rates.

The first economic report of the week comes Wednesday afternoon when the Federal Reserve will release its Beige Book. This data details economic conditions throughout the U.S. by region. It is relied upon heavily by the Federal Reserve to determine monetary policy during their FOMC meetings.

If it shows surprisingly softer economic activity, the bond market may thrive and mortgage rates could drop shortly after the 2:00 PM ET release. If it reveals signs of inflation growing or rapidly expanding economic activity in many regions, we could see mortgage rates revise higher Wednesday afternoon.
April’s Goods and Services Trade Balance report will be posted early Thursday morning. This data gives us the size of the U.S. trade deficit and will be released at 8:30 AM ET. It isn’t likely to cause much movement in the markets or mortgage rates, but nevertheless forecasters are expecting to see a $48.7 billion trade deficit. It will take a wide variance from this projection for the data to influence mortgage rates.

The two relevant Treasury auctions scheduled will be held the middle part of the week. The 10-year Treasury Note sale is scheduled for Wednesday while the 30-year Bond sale will take place Thursday. Results of both auctions will be posted at 1:00 PM ET on the sale days. If investor demand was high, we may see bonds rally during afternoon trading, however, weak demand could lead to selling and an increase to mortgage rates. It is common to see some pressure in bonds right before these sales as investors prepare for them, but as long as the sales are not weak those pre-auction losses are usually recovered once they are completed.

Overall, it likely is going to be a moderately busy week for the mortgage market. The most action will likely come during the middle days, assuming that the stock markets don’t go into heavy selling or buying. In weeks like these where there is little factual economic data being posted to drive bond trading, the stock markets often take center stage.

Sizable stock gains should lead to bond weakness and higher mortgage rates, while stock weakness will likely allow improvements to mortgage pricing. I am considering Wednesday the best candidate for most active day in rates, but that is relying on the assumption the stock markets remain relatively calm this week.

Vacation homes do they make sense??

Consider a Vacation Home for Fun Times, Investment Returns

Glorious summer days at the lake…the grandkids frolicking at the shore…or a warm fireplace as you wait for the perfect powder at your ski retreat. A vacation home builds memories and it can be a great investment.

In most vacation hot spots, second-home prices are at five-year lows. Some in California and Florida can be had for 47 percent below their 2006 price. Bargains are likely to be available within a couple of hundred miles from where you live.

* There’s more to a vacation place than fun and up-front bargains. In the future, the home will be an appreciating asset. Economists say prices are already rising and will continue to rise for at least the next five years.

* The home is a better deal if it’s rentable. The rental potential puts money in your pocket, but it also increases resale value.

* The typical vacation property rents out about 17 weeks a year, according to HomeAway.com. Ask a property management company how much comparable properties rent for by the week. While the rent won’t pay all your expenses, it will help with the mortgage, utilities, taxes and maintenance.

* You will meet and become friends with an entirely new group of people when you own a vacation home. Lifelong friends are made with neighbors and in the community.

* You’ll have tax benefits. Rent it out for less than two weeks, and you won’t have to report the income to the IRS.

* If you rent the home for two weeks or more, you can deduct operating costs, such as maintenance, cleaning, mortgage interest and property tax. You allocate the write-off between personal and rental use.

* As with any rental property, distance is important. Less than 200 miles from your primary home is best.

Finance
* When the property is classified as a second home, you’ll get about the same interest rate and terms as on a home loan, according to HSH Associates.

* If you need the rental property income to qualify for a mortgage, it will be classified as an investment property. The down payment will be higher and the interest rate will be about 1 percent more.

I want to do it myself but............no issues too how can I ??

How to avoid big problems with your do-it-yourself project

If you have a few construction skills, you might be eager to tackle a home modification project. Before getting started, here are several steps and cautions that should be considered.

* Make a written plan. Prepare a day-by-day calendar outlining each portion of the project and how many hours it will take to compete.

* Get a city permit. If you are adding a room, putting up a storage building or changing your patio into a room, you need a permit. Some plumbing and electrical jobs require permits, as do changing gas or sewer lines.

* Buy the correct materials. Skimping with inexpensive products can compromise the quality of the job.

* Invest in a set of tools specifically designed for the repair or the construction job.

* Use safety gear. Wear safety goggles when using a power saw. Buy the best gloves for the job. Wear a hard hat if others will be working above you.

* Before you pick up a power tool, climb a ladder or raise a hammer, consider whether you can do the job safely. If you aren’t sure, hire a professional for that part of the project, especially when it includes electricity or moving heat ducts or plumbing lines.

* Be very cautious with chain saws. They send many a do-it-yourselfer to the emergency room.

* Emphasize accuracy. Remember the principle, “Measure twice, cut once,” when working with drywall, baseboards or pipes.

* Expect the unexpected. If you are moving a wall, don’t be surprised to find problems such as termites, mold inside the wall, or electrical wiring that has to be moved.

It’s exciting to plan and to get started on a DIY project, but always remember: Safety first!

How to avoid big problems with your

do-it-yourself project