02
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – Sept 2, 2014

Last week's economic news included several reports related to housing. The Case-Shiller and FHFA reports for June showed a further slowing in home price growth. New home sales for July fell short of the expected reading, but pending home sales exceeded expectations. The details: Case-Shiller, FHFA: June Home Price Growth Slows The Case-Shiller 10 and 20-City Home Price Index for June moved from May's year-over-year reading of 9.40 percent growth to 8.10 percent in June. Home prices grew by 1.00 percent on a month-to-month basis in June as compared to May's reading of 1.20 percent. Demand shrank due to increasing…
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28
Aug
By Jim Hasek
Market Outlook, ,

Case-Shiller, FHFA Report Slowing Growth in Home Prices

The Case-Shiller 10 and 20-City Home Price Indices for June reported year-over-year gains of 8.10 percent while the Case-Shiller National Home Price Index covers all nine census regions and reported a year-over-year gain of 6.20 percent. Readings for all three indices worsened as compared to May readings, and all cities tracked showed slower growth in home prices. The National Home Price Index, which is now published monthly, rose by 0.90 percent from May's reading, and both the 10 and 20-City Index posted month-to-month gains of one percent. Five cities including Detroit, Las Vegas, New York, Phoenix and San Diego posted…
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23
Jul
By Jim Hasek
Real Estate, ,

National Association of REALTORS Existing Home Sales Exceed Projections

According to the National Association of REALTORS®, existing home sales surpassed both May sales and expectations for June. Sales of previously owned homes increased by 2.60 percent in June and reached a seasonally adjusted annual level of 5.04 million sales. June's reading was the third consecutive monthly increase in sales of existing homes and was the highest reading for existing home sales in eight months. Existing home sales remain 2.30 percent below the June 2013 reading of 5.16 million sales of existing homes. Analysts projected sales of 5 million existing homes for June against May's initial reading of 4.89 million…
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30
Jun
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – June 30, 2014

Last week brought several economic and housing sector reports including Existing Home Sales, Case-Shiller and FHFA home prices for April, as well as New Home Sales. Freddie Mac's weekly mortgage rates survey and the weekly report on new jobless claims were released on Thursday, and Consumer Sentiment for June rounded out the week on Friday. Existing Home Sales Stronger than Expected!  Good news came from the National Association of REALTORS® Existing Home Sales report for May, which reported 4.89 million previously owned homes sold on a seasonally-adjusted annual basis. Analysts had projected a seasonally-adjusted annual figure of 4.75 million existing…
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26
Jun
By Jim Hasek
Mortgage Rates, ,

Case-Shiller: Home Price Growth Slows in April

The S&P Case-Shiller Index for April shows that while home prices continue to grow, they are doing so at a slower pace as compared to April 2013. The Case-Shiller 20 city index reports that home prices expanded at a year-over-year annual rate of 10.80 percent as compared to 12.40 percent in April 2013. Month-to-month data showed that home prices rose for the second consecutive month. The seasonally- adjusted month-to-month growth rate for the 20 city home price index was 0.20 percent against March's month-to-month home price growth rate of 1.20 percent. Slower Home Price Growth: A Silver Lining? According to…
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02
Jun
By Jim Hasek
Mortgage Rates, , , ,

What’s Ahead For Mortgage Rates This Week – June 2, 2014

Last week's economic news was fairly quiet due to the Memorial Day holiday on Monday and no scheduled news released on Wednesday. Home Prices Post Modest Gains, But Growth Rate of Home Prices Slows Tuesday's release of the S&P Case-Shiller Home Price Index for March showed that home prices are edging up, but at a slower pace than last year. Home prices increased by 12.40 percent year-over-year as compared to February's reading of 12.90 percent year-over-year. Analysts expected prices to fall as construction picks up and more homes are listed for sale. Lower demand due to strict mortgage lending standards…
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