Weekly Mortgage Review

Mortgage Update

by Marie Funston - Coldwell Banker Mortgage

What Did Interest Rates Do Last Week?

** based on Freddie Mac weekly average survey **

30-yr Fixed – Slightly Lower

Last Week: 4.81%

Previous Week: 4.83%

1yr Ago: 5.05%

15-yr Fixed – Slightly Lower

Last Week: 4.15%

Previous Week: 4.17%

1yr Ago: 4.38%

Highlight of Last Week’s Major Economic Reports

The rise in rates was finally reversed this week, as the final review of 3^rd quarter GDP revealed that the economy grew at a rate of 2.6% for the year, slightly below some projections of 3%. This was viewed by some traders as a sign that the economy isn’t forging ahead as strongly as recently anticipated and consequently brought on some relief for mortgage rates.

The housing market continues to offer glimmers of sporadic hope. Existing Home Sales inched up 5.6% in November, while New Home Sales increased 5.5%. Actual figures are still far below 2009’s tax-credit-inflated levels, but we may at least start seeing some stabilization in demand.

What to Look for This Week

Very light on the economic calendar this week, with the lone highlight being Uncle Sam auctioning off $99 billion in Treasuries. Whether demand is strong or weak will dictate the direction of rates, but we expect rates should remain fairly stable overall.

Open House - Barton Hills Sunday 12/19

Open House 2-4pm - December 19th

**JUST LISTED**

1806 Brookhaven Drive

Come by to see this gorgeous property tucked away in Barton Hills just minutes from Zilker Park, Barton Springs & Lady Bird Lake. This home boasts all new cognac oak hardwood floors, fresh paint & new carpet. The property has a wonderful open floor plan and the vaulted ceilings make it feel even more spacious. Imagine yourself splashing around in the crystal clear pool and having a drink under the covered patio with your friends. This home is HOT and won't last long so swing by Sunday December 19th from 2-4pm or call for a private showing (ML#9071424).

The Barton Hills Neighborhood is highly sought after and a gem like this one doesn't come along very often. This is a great area! Barton Hills Elementary, the greenbelt at your doorstep, and the close proximity to downtown are just a few reasons to call this neighborhood home. Shop and dine at nearby Soco (South Congress) and SoFi (South First). Not to mention walking/jogging/biking around Lady Bird Lake and all the local favs like Chuy's, Shady Grove & Daily Juice.

If you're interested in more homes in Barton Hills, check out www.HanaleiMyers.com or call me at 512-573-1432 to preview properties in the area.

Tis the Season - Austin Style

Austin is a fabulous town to live in for the holidays. From the annual lighting of the Zilker Christmas Tree to the 1st ever Trailer of Lights, there is something happening almost every day. This past week I was able to view gorgeous gems at the Micah Yancey Bon Bon Trunk Show. We gathered at Malverde above La Condessa in the Second Street District. If you haven't seen her amazing jewelry check out her website www.etsy.com/shop/micahyancey and get some beautiful gifts. It was a great opportunity to catch up with friends, sample delicious appetizers, and drool over all of the jewelry I wanted to take home with me. The Second Street District will be having quite a few holiday soiree's, check out their events page www.2ndstreetdistrict.com/events/.

A few other fun season pleasers are the 37th Street Lights, Armadillo Christmas Bazaar, & the Holiday Wine Trail.

So tis the season, enjoy it Austin style!

If you're interested in living near downtown check out what's available at www.HanaleiMyers.com or call me if you'd like to see some Austin Finds 512.573.1432