Financial Markets
The bond market (where mortgage backed securities are traded) rallied ever so slightly Friday, as investors once again deemed US debt safer than European bond instruments. The Dow Jones also ended higher which bucked the typical trend where the bond market and stock market trade in opposite directions. Over the past month however, the stock market is up over 600 points, and mortgage backed securities are worse by 100 bps, which loosely translates into 1/4 % in rate or $2,000 in closing costs on a $200,000 loan.
Southern Nevada Real Estate Related Data
Nevada ranked 2nd in the nation for home value appreciation in December, experiencing a 15.3% increase in median priced home from December 2011….Nationwide, housing is up 8.3%. The construction sector has added 98,000 jobs over the past 4 months, and the economy as a whole is starting to feel the positive effects of a recovering housing market. Another article below discusses January 2013 numbers and points towards a 27% increase in the median priced home from January 2012….As the funny looking great Yankee catcher once said…”It’s Déjà vu all over again”….
Wet and Wild is a few months away from opening! To my knowledge, this has nothing to do with Southern Nevada’s real estate market or local economy, aside from maybe the few hundred part time jobs it brings, but pretty awesome nonetheless!
Have a great week! For more real estate financing information, please visit my website: http://www.matthewtmaltese.com/home.html
