We just reviewed an email from Zillow.com with the headline…
“Slowdown in Home Value Appreciation Expected to Continue in 2015″.
Indications are that a “slowdown” in this sector of the economy equates to a more normal level of home value appreciation and they say this is a good thing. Or…is it?
The word “slowdown” sure doesn’t evoke confidence. Then again, none of us desire to experience another real estate bubble like we did a few a years ago.
Below is the current US Economic & Housing Market Outlook report from Freddie Mac. Chief Economist Frank spells out a few important areas to consider when evaluating how the US economy is doing and is expected to do in the near future. He focuses on (1) labor recovery, (2) income growth, (3) fixed investment spending and (4) trust and confidence in the economic recovery continuing.
A few questions to consider:
Is your home value better or worse than it was 2 years ago?
Do you think the economy is improving nationally? How about in Oklahoma?
We have been fortunate in Oklahoma with low unemployment and great income growth and Bank of Commerce is proud to be part of Canadian County, the fastest growing county in Oklahoma.
Stop by and visit a Bank of Commerce office near you and see how great it is to do business with a locally owned and operated bank. We live, work and play here!
Posted in Banking - General, Community, Real Estate Loan, US Economy
Tagged canadian county, community bank, economic slowdown, freddie mac, housing, mortgage loan, oklahoma, us economy, zillow
We keep reading and hearing about existing home sales being depressed in 2014 as compared to 2013. Have you heard this too? If that’s true…then WHY?
There are some good explanations as to why sales are down and the best news is that it’s not because the U.S. economy is doing poorly. The answers might surprise you.
Watch this informative video by FreddieMac for more details as to the why…
If you are in central Oklahoma please stop by and see us at one of our convenient locations!
Posted in Banking - General, Community, Home Loans, US Economy
Tagged Bank Of Commerce, canadian county, freddie mac, home sales, housing, refinance home, us economy, yukon mortgage
If you are planning to visit El Reno for the 26th Annual Onion Fried Burger Day Festival – you’ll need to know when and where the action is on Saturday! We’ve attached a link to the schedule for the weekend below.
Make sure and get here in time to watch them cook the big one! And if you’re lucky enough…you might even get a piece to eat.
Get a little history on Burger Day HERE.
Hope you can make it!
2014 Burger Day Schedule.
In a recent article, Jim Chessen, the lead ABA economist indicates that consumer loan delinquencies are down. This is good news and a sign of the improving U.S. economy.
Here is ABA’s chief economist Jim Chessen on the topic:
What is your local economy like recently…up, down? Why?
We look forward to hearing from you!
BE SAFE – BE SECURE – KNOW FOR SURE
NOW you can receive mobile text alerts every time your debit card is used!
Call your local BOC office and get signed up today...
We have all heard there’s winter weather coming our way on or about Tuesday next week and maybe even earlier. Why not take a few minutes now or over the weekend to consider the errands you’d normally be running mid-week. Head to the bank tonight or Saturday and beat all the craziness that will ensue Monday as everyone tenses up for bad weather. Plan ahead and don’t be caught off guard.
Things to consider:
1) Need to make a trip to the bank? If it is dangerous to travel please use online banking or contact us about setting up your mobile device for smart phone banking.
2) Run to the grocery store. Go now and beat the crowd. Your neighbors will wait until Monday night…so, get there before they do.
3) What about the animals. Murphy’s Law goes like this… you’ll run out of pet food when you are stuck and can’t get to the store!
4) Medical Needs: Same as #3: your prescription will need to be refilled when the roads are bad…so look at your medications now and see what you might need.
5) Warm? If you want to stay warm and need firewood or propane or whatever burns your furnace – line it up now..
6) Charge! Make sure and keep those cell phones charged and ready…just in case the power goes out!
Have a great weekend and stay weather aware!
ABA economists and others say that we are poised for strong growth in 2014. Based on what you are experiencing in the marketplace…is this what you anticipate as well?
Take a minute and watch this brief video which spells where growth is expected.
You can also stay updated by reviewing the ABA’s Banks and the Economy blog.
Make sure and come visit any Bank of Commerce location and let’s make 2014 a great year of working together and “build our community”!
We just wanted to take a moment to let you know how much we appreciate each and every one of you…whether a customer, employee, vendor or anyone of the great folks who has helped provide or utilized the banking and financial services we offer. We very literally could not do this without you.
The Bank of Commerce consists of roughly 60 local employees and we’ve been truly blessed to help and share our lives with so many of you during 2013. We will continue to grow and change, innovate and adjust to the market…and all with the hope of providing a great financial services palette for you, your families and businesses.
Among the many things we cherish is that we are a community bank. We live and work with our friends and neighbors. We feel this has as much to do about making loans and opening accounts as it does with the knowing and helping you personally…going to church with you…donating to your child’s t-ball team…and even helping fund a high school scoreboard. All of these things we find great joy in doing and participating.
All this to say, Thank You! Thank for a wonderful 2013 and thank you for the opportunity to invest in these great communities, providing capital for your businesses and sharing your lives with the Bank of Commerce.