Clark County Market Report September 2014

Source: TICORTITLE.com

Mortgage Rates Holding Under 4 Percent

Great news for those still hoping to buy in today's housing market.  These incredible mortgage rates won't last forever so try and look into it while you still can!

From the article:

Mortgage rates returned to levels best characterized as "under 4 percent" today after drifting higher on Friday.  Last Wednesday was the first foray into the "high 3's" in more than 16 months.  Not every scenario will be seeing those high 3's today, but for top tier borrowers, 3.875% is slightly more prevalent today when it comes to conforming 30yr fixed rate quotes.  4.0% is a close runner-up, but 3.75% may be a viable option for borrowers interested in paying higher upfront costs. 

Today's modest recovery suggests that we're in the midst of a few days of limbo relative to the bigger picture.  Historically, after a big swing down in rate followed by a big snap back (like that seen last week) there has been a time frame of a few days or even a few weeks of comparatively smaller changes before rates embark on their next noticeable move.  That means that long-term optimists can keep hope alive for further gains, but also that there's a risk they won't materialize.  In any event, it won't be long before we know one way or the other.  

It also means that both locking and floating can be justified at the moment, and neither is necessarily a bad choice.  It's worth noting, however, that today's rates are right in line with the second best day in over 16 months.  If you missed out on last week's sub 4% rates, here they are again.

Read more at the article:

http://www.mortgagenewsdaily.com/consumer_rates/400114.aspx

Source: MORTGAGENEWSDAILY.com

5 Ways to Trigger Your Money-Saving Reflex

If you have trouble balancing your wants vs. your needs when it comes to spending, the LVRJ has some tips on how to prioritize your long-term savings goals over your short-term expenses.

5 Ways to Empower Your Savings Habits:

1. Create a Paper Chain to Manage Debt or Grow Savings
• Get Rich Slowly published an article by a woman who created a paper chain to tackle her debt. Each ring represented $100 she owed. As she worked to pay down expenses, she would tear apart the chain and watch it grow smaller. This physical representation made her progress more noticeable, effectively increasing her satisfaction and motivating her to diminish her debt. This same tactic can be used for saving money, as well (by adding rather than removing rings on the chain).
2. Build a Vision Board
• Pinterest is a popular social media tool for building inspiration and idea boards. If you’re an active user of this site, building a vision board for your financial goals can be a wise motivator when it comes to saving money. If you don’t use Pinterest regularly, you can also place a physical poster board in your bedroom or office to keep you motivated on a daily basis.
3. Write Your Goals on Your Credit Card or Wallet
• There’s no better way to remind yourself of your savings goals then to put them right in your hand at the moment you need to think of them most. Say you’re still $850 away from your goal of saving $1,000: Write down that number on a post-it and wrap it around your card. The next time you’re tempted to buy something you don’t need, you’ll see your goal written out and can subtract from that amount whatever you decide not to buy.
4. Pay Yourself Every Time You Decide to Save
• Whenever you make good on your promise to save, divide the amount saved to pay yourself a bit for following through. Saving money shouldn’t necessitate denying yourself — that’s just a recipe for disaster later on. Rather than completely withholding from immediate expenses, you could also take the $50 you decided to save on shoes, credit $40 to your account and give yourself $10 to spend however you choose. It might take a bit longer to reach your savings goal, but this strategy will help keep you satisfied in the process.
5. Opt for Another Low-Cost Option
• In the same vein, saving money shouldn’t be associated with the pain of denying yourself some fun and enjoyment. If you decide to not buy those expensive concert tickets, go to a free or cheaper show instead. Don’t completely hold out on the things you enjoy. Choose a low-cost alternative to the expense you avoided to prevent resentfulness and to help maintain your resolve to save.

Source: REVIEWJOURNAL.com
Photo: THINKSTOCK.com