25
Jul
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – July 25, 2016

Housing Starts, Building Permits Issued Rise Commerce Department reports on housing starts and building permits issued were released Tuesday. Housing starts rose to 1.189 million in June against expectations of 1.165 million starts and May's downwardly revised reading of 1.135 million starts, Housing starts rose by 4.80 percent on a seasonally-adjusted annual basis. This is good news for housing markets, but analysts said that demand for homes continued to exceed available supplies. Building permits issued also rose in June to 1.53 million as compared to May's reading of 1.136 million permits issued. Existing Home Sales Increase: National Association of Realtors®…
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19
Jul
By Jim Hasek
Mortgage Rates,

NAHB: Home Builder Confidence Slips in June

Home builder confidence fell slightly in June to a reading of 59 according to the National Association of Home Builders Housing Market Index. Analysts had expected no change to June's reading of 60. June components of the HMI were also lower. Builder confidence in current market conditions dropped by one point to 63; builder confidence in market conditions over the next six months fell three points to a reading of 66. The reading for foot traffic in new single-family developments dropped one point to 55. Readings over 50 indicate that more builders than fewer are confident about housing market conditions.…
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18
Jul
By Jim Hasek
Mortgage Rates, ,

What’s Ahead For Mortgage Rates This Week – July 18, 2016

Last week's economic news included reports on inflation, retail sales and weekly readings on mortgage rates and weekly jobless claims. Mortgage rates were mixed with average rate for a 30-year fixed rate mortgage rising by one basis point to 3.42 percent. The average rate for a 15-year mortgage dropped by two basis points to 2.72 percent, and the average rate for a 5/1 adjustable rate mortgage rose six basis points to 2.76 percent. Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 5/1 adjustable rate mortgages and 0.40 percent for 15 year fixed rate mortgages. Freddie Mac said…
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11
Jul
By Jim Hasek
Mortgage Rates, ,

What’s Ahead For Mortgage Rates This Week – July 11, 2016

Last week's economic news included minutes from the most recent meeting of the Fed's Federal Open Market Committee (FOMC) along with several reports on private and public sector employment and the national unemployment rate. Weekly reports on mortgage rates and new jobless claims were also released. FOMC Minutes: Committee Closely Monitoring Economic Developments The minutes of June's FOMC meeting indicate that Fed policymakers continue to be cautious based on low inflation and close review of domestic and global economic developments. Committee members acknowledged improvements in the housing market, but also noted that annual inflation remains below the Fed's two percent…
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05
Jul
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – July 5, 2016

Last week's economic events included S&P Case-Shiller's Housing Market Indices for April along with reports on Construction Spending and Pending Home Sales. Consumer Confidence was higher in June in spite of low wage growth and inflation well below the Fed's goal of 2.00 percent annually. S&P Case-Shiller: Home Price Growth Ticks Downward April home values grew by 5.40 percent in April on a seasonally-adjusted annual basis. Case Shiller reported a drop in momentum from the March reading of 5.50 percent according to the S&P Case-Shiller 20-City Home Price Index. While no city included in the 20-City Index reported lower home…
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27
Jun
By Jim Hasek
Mortgage Rates, ,

What’s Ahead For Mortgage Rates This Week – June 27, 2016

Last week's economic news was dominated by Great Britain's vote to withdraw from the European Union. New and Existing Home Sales were released along with weekly reports on mortgage rates and new jobless claims. "Brexit" Vote Tanks Stocks, Could Cause Lower Mortgage Rates US stocks plunged in reaction to the news of Britain's decision to leave the EU and the resignation of its Prime Minister. While investors don't want to see their 401(k) values crash, mortgage rates may also fall as a result of "Brexit". Fallout caused by economic uncertainty connected with Great Britain's move to regain independence is expected…
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