February 2012

The Greek bailout package was passed on Monday as expected, and there was little reaction in US markets. Mixed US economic data also had little influence. Strong Treasury auctions were the biggest factor for mortgage rates this week, and rates ended the week a little lower.

Investors are beginning to focus on the price of oil. Concerns about Iran have pushed oil prices up to the highest level in nine months. Higher energy prices are bad for consumers and the economy. Since higher oil prices have two opposite effects on inflation, though, the impact on mortgage rates is uncertain. Rising energy costs add to inflation, but they also slow economic growth, which reduces inflationary pressures. It's not clear which influence will be larger over time.

The

Increased optimism that a Greek bailout package will be approved on Monday caused investors to shift to riskier assets, which was negative for mortgage rates. Mixed US growth and inflation data had little net impact. Mortgage rates ended the week a little higher.

After several weeks of uncertainty, it appears that European officials are close to reaching agreement on a much needed bailout package for Greece. Despite strong public opposition, Greek leaders took a big step by passing a budget with new austerity measures. Comments from euro zone leaders expressed broad support for providing additional aid, which Greece needs to avoid a default on debt maturing on March 20. Prior to this week, it appeared that the option to let Greece default and possibly

In these turbulent times many buyers are still skeptical of the economy and our future.  Yet, there has never been a better time to buy than right now when you consider that interest rates are at all time lows.  The link below will give you a 30 year visual perspective of where rates were and are currently.  Can they go lower?  Actually, compared to the 30 year chart, rates have actually dipped below 4%!!!!  This is the time to talk to your lender or contact us at Highrises.com for lenders who regularly lend in the St. Louis market.  Don't wait.  Take advantage of these historically low rates.  Let your good credit standing get you the great deals that are available today.

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With little US economic news this week, investors focused most of their attention on Europe, where Greece is attempting to avoid a debt default. A lack of progress in Greece late in the week caused a minor flight to safety, and mortgage rates ended slightly lower than last week.

For most of the week, it appeared that Greek officials were on track to deliver a package of austerity measures required for Greece to receive additional aid. The negotiations took an unexpected step backward on Friday, however, as Greek political leaders agreed on an austerity package on Thursday, but European Union (EU) officials stated that Greece will not receive additional aid until the Greek Parliament passes the package. Given the resistance among the Greek people, this is

Southern Nevada's tourism economy continued its steady march back from recession in December.

The final month of 2011 brought nearly 3 million visitors to the local economy, for a yearly total of 38.9 million visitors, the Las Vegas Convention and Visitors Authority reported Thursday. That makes 2011 the city's second-best year ever for visitor volume. The statistic was also just 300,000 people below a record 39.2 million in 2007, and it was up 4.3 percent over 2010's 37.3 million. Authority officials had projected a 2.5 percent gain,

The most significant influence on mortgage rates this week was Friday's Employment report, which was much stronger than expected. Events in Europe have had less impact on US markets in recent weeks. While mortgage rates moved lower early in the week, they ended the week a little higher.

Friday's Employment data exceeded expectations in nearly every area. Against a consensus forecast of 135K, the economy added 243K jobs in January, which was the highest level since April 2011. Revisions to prior months added an additional 60K jobs. The Unemployment Rate dropped to 8.3% from 8.5% in December, to the lowest level since February 2009. Strong labor market data is great news for the economy, but it increases future inflationary pressures, which is unfavorable

The 411 Building at 10th and Locust streets will soon be home to a Downtown Bicycle Station, Big Shark Bicycle Co. and Trailnet, a nonprofit dedicated to creating more bikeable and walkable communities, positioning Downtown St. Louis as a place to get in and around without a car. 

The Downtown Bicycle Station will be 1,450 square feet, offer sercure access and feature more than 100 bike racks, showers and locker rooms, ideal for those cyclists commuting to work. This new Downtown Bicycle Station will be next to a new 3,500 square foot full service bike shop that will offer all necessary bike equipment, repairs and bike rentals. Big Shark Bicycle Co., presently located in the Delmar Loop, plans to open this 2nd location, named Urban Shark, in Downtown

By: Donna Galinsky

Take off the rose-colored glasses. The home selling/buying process is often more extensive than you think, from the early planning stages to protracted negotiations to often delayed closings. It can take time before a seller formally accepts a buyer's offer. Financing typically takes 45 to 90 days, title issues such as missing COs can pop up, rough edges discovered in the final walk-through must be smoothed, etc. Give yourself a couple extra months to complete the deal. 

Here are some other things to keep in mind:

Exposing your hand. For the Buyer: Never let your love for a house cloud your vision. Contain your enthusiasm, keep a poker face. Otherwise, the sellers and/or their agent will know they've hooked you and will be

St. Louis (KSDK) - Saint Louis University announced Tuesday morning plans to move their Law School into a donated building in downtown St. Louis.

The building, located at 100 N. Tucker, was donated by Joe H. Scott Sr., founder and owner of Scott Properties. In recognition of this donation, SLU plans to name the building the Joe and Loretta Scott Law Center.

With nearly half of the practicing attorneys in St. Louis being alumni of the law school, University President Lawrence Biondi, S.J., says "This historic move will strengthen our ability to educate the next generation of legal leaders in St. Louis and beyond."

The move will make SLU the largest educational institution in downtown St. Louis, with it's more than 1,100 students, faculty and