Maybe a Bumpy Ride in The Housing Market

whats-nextThere were some interesting speeches, announcements and numbers released recently. Fed Chairman Ben Bernanke delivered a speech at a congressional conference.

Shortly after Bernanke’s pontifications, the new home sales forecasts were released. Housing permits issued for single-family homes for August didn’t move much over July’s, showing no increase for housing starts month-over-month.

It was expected that with the first-time home-buyer credit nearing its expiration date, housing sales might jump. It was estimated that a 2.8% increase in home sales (approximately 445,000 homes) would push the increase in homes for the last five months to a rate of 34%. That would also push home sales above one-year ago.

Finally, the governor of the Federal Reserve, Kevin Warsh, delivered a speech at the International Banking Conference in Chicago. With the Chicago Federal Reserve Bank (the attendees of the conference) expected to play a pivotal role in stirring up a sustainable recovery of the economy, what the Chicago Federal Reserve Bank toopk away from Mr. Warsh’s speech may have an overall effect on economic recovery.

You may want to fasten your seatbelt for the day. It may or may not be a bumpy ride. But you can make sure you know the correct way to pay your mortgage, and believe me, it isn’t the way the bank tells you to pay! You can recycle the equity into your home into your mortgage, or just change the timing on your mortgage and other bill payments.

Thousands of people doing this are becoming debt-free, including huge credit card balances, in 5-12 years. How’s that for a good investment in a great neighborhood?

(Register for a free workshop on mortgage acceleration. You’ll be glad you did.

One Response to “Maybe a Bumpy Ride in The Housing Market”

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