27
May
By Jim Hasek
Market Outlook, ,

Case-Shiller Home Prices: San Francisco, Denver see Double-Digit Increases

San Francisco, California where home prices rose 10.30 percent year over year in March, and Denver, Colorado with an even 10 percent gain in year-over-year home prices led the Case-Shiller 20-City Composite Index for March. Rounding out the top-five cities for year-over-year home price growth were Dallas Texas at 9.30 percent, Miami, Florida at 8.70 percent and Tampa, Florida with a year-over-year average gain in home prices at 8.10 percent. San Francisco's reading for March was the first double-digit increase in home prices since last July. The five lowest year-over-year price gains occurred in Washington, D.C. and Cleveland, Ohio tied…
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26
May
By Jim Hasek
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – May 26, 2015

Last week's economic reports included several readings related to housing The Wells Fargo/National Association of Home Builders Housing Market Index, the Commerce Department's releases on Housing Starts and Building Permits, and the National Association of Realtors® report on Existing Home Sales supplied mixed news on recent developments in housing. Freddie Mac and the Labor Department released their usual reports on mortgage rates and weekly jobless claims. The details: NAHB: Builder Confidence Slips, But Remains Positive The Wells Fargo/ National Association of Home Builders (NAHB) released its Housing Market Index report for April. Although April's reading was two points lower at…
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18
May
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – May 18, 2015

Last week's economic reports included data from the Federal Reserve on student loan debt, job openings and retail sales. Weekly jobless claims and Freddie Mac's survey of average mortgage rates were released as usual on Thursday. A report on consumer sentiment wrapped up the week's scheduled economic new. Federal Reserve: Student Loan Borrowers Struggle with Payments  In two reports issued by the New York and St. Louis branches of the Federal Reserve, researchers found that high numbers of student loan borrowers are behind in making payments. According to the New York Fed, 11.10 percent of student loan borrowers were 90…
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11
May
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – May 11, 2015

Last week's scheduled economic reports primarily revolved around the jobs sector. The federal government released reports on Nonfarm Payrolls, the national unemployment rate and weekly report on new jobless claims. ADP issued its monthly report on private sector payrolls. Readings on labor statistics are important to housing markets as stable employment conditions are a significant consideration for prospective home buyers. Private-Sector Job Creation Falls, Non-Farm Payrolls Rise According to ADP, private-sector payrolls fell by 6000 jobs in April to a reading of 169,000 new jobs. This was the fifth consecutive monthly drop in new private sector jobs. ADP also adjusted…
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04
May
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – May 4, 2015

Last week's economic news included S&P Case-Shiller Home Price Index reports, the Fed's FOMC meeting statement and pending home sales. Freddie Mac mortgage rates and weekly jobless claims were also released as usual. The details: Case-Shiller: Denver Leads Home Price Gains in February The S&P Case-Shiller 20-City Home Price Index showed that home prices continue to appreciate, but at a slower rate than in previous years. Home prices increased at a seasonally-adjusted year-over-year rate of 4.20 percent in February as compared to the February 2014 reading of 4.40 percent. Denver, Colorado led February's year-over-year home price appreciation rates with a…
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29
Apr
By Jim Hasek
Market Outlook, ,

Case-Shiller: 20-City Home Price Index Hits 6 Month High

According to the Case-Shiller 20-City Home Price Index for February, month-to-month home prices increased by 0.50 percent from January’s reading and achieved the highest year-over-year gain in six months. Analysts expected February home prices to increase by 4.80 percent. David Blitzer, chairman of the S&P Dow Jones index committee, said that home prices continue to rise and outpace both inflation and wage gains. Although this is great news for homeowners, it also demonstrates the challenge of affordability for home buyers. Year-Over-Year Home Prices: Denver Leads in Home Price Gains Home prices in Denver, Colorado increased by 10 percent year-over-year in…
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