CORY THOMPSON

Mortgage Consultant

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FOMC Statement: Fed Holds Steady On Its Interest Rate Range

The Federal Open Market Committee of the Federal Reserve announced its unanimous decision not to change to the current target federal funds range of 1.50 to 1.75 percent. The committee’s customary post-meeting statement said the decision not to change the Fed’s target range for federal funds was based on factors including a strong labor market, moderate economic growth, continued job growth, and low unemployment. Economic readings reviewed prior to the FOMC meeting held Tuesday and Wednesday supported the achievement of the committee’s dual mandate to achieve maximum employment and maintain price stability. According to the post-meeting statement issued on December 11, FOMC members consistently review incoming global and domestic economic news to determine if the Fed’s monetary policy should be adjusted. Chair Powell signaled that...

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How Much Do I Need To Start Investing In Real Estate?

It is important for everyone to diversify their investments and one of the assets that people often look toward is real estate. In a healthy market, real estate should appreciate in value. It is often less risky than investing in individual stocks and can provide a much higher return on investment than a typical bank savings account or even a money market account. On the other hand, people often think that they require a large amount of money to even think about investing in real estate. This is not always the case. Buying Property Outright One of the most straightforward ways to get started in the real estate investing market is to buy property outright in an area that is set to appreciate in value....

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Can A Reverse Mortgage Impact Your Social Security Or Medicare Benefits?

One of the most common worries that people have is money. When it comes to those golden retirement years, many people worry about running out of money. At the same time, most people who reach their retirement years have a lot of equity in their home. Therefore, many people think about drawing on the equity in their home as a source of income. A reverse mortgage will allow someone to do exactly that. On the other hand, can receiving payments from a reverse mortgage impact the benefits that someone can receive from Social Security or Medicare? The Basics Of A Reverse Mortgage First, people need to think about what a reverse mortgage truly means. When someone takes out a mortgage loan to purchase a home,...

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What’s Ahead For Mortgage Rates This Week – December 9th, 2019

Last week’s economic reports included readings on construction spending and multiple labor sector reports including private and public sector jobs and the national unemployment rate. Weekly reports on average mortgage rates and first-time jobless claims were also released. Construction Spending Falls 0.80 Percent in October Commerce Department reports on construction spending said that spending fell by 0.80 percent to a seasonally-adjusted annual rate of $1.29 million. Analysts expected construction spending to increase by 0.40 percent based on September’s original reading of 0.50 percent growth, which was later revised to -0.30 percent. Less construction of multifamily homes and apartments caused a decrease in October construction spending. Private construction spending fell by -1.00 percent in October; residential construction fell 0.90 percent as multi-family construction spending fell 1.60...

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