05
Oct
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – October 05, 2015

Last week's economic reports included Pending Home Sales, Construction Spending and several reports on jobs and employment. The details:Pending Home Sales Down as Home Prices RisePending home sales dipped in August, which is consistent with the waning spring and summer peak sales period for homes. Pending home sales were down by -1.40 percent as compared to July's gain of 0.50 percent. Pending home sales indicate future closings and mortgage loan volume.Home prices rose in July according to the S&P Case-Shiller Home Price Index, which reported that home prices for the 20-City Home Price Index rose from June's reading of 4.90…
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28
Sep
By Jim Hasek
Market Outlook, , , , ,

What’s Ahead For Mortgage Rates This Week – September 28, 2015

Last week's scheduled economic news included reports on new and existing home sales, the FHFA House Price Index, weekly reports on mortgage rates, and new jobless claims. The week finished with a report on consumer sentiment.Existing Home Sales Fall as New Homes Sales and Home Prices RiseThe National Association of Realtors reported that home sales for pre-owned homes fell in August. Analysts expected sales of existing homes to reach a reading of 5.52 million sales on an annual basis, but the actual reading was 5.31 million existing homes sold as compared to July's reading of 5.58 million pre-owned homes sold.…
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14
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – September 14, 2015

A short week after the Labor Day Holiday provided a slack schedule for economic news. Bloomberg reported that residential investment for the second quarter of 2015 represented 3.34 percent of the Gross Domestic Product. Compared to the long-term average reading of 4.56 percent, analysts said that the Q2 15 reading suggested pent-up demand in the housing market that could help propel the economy through any setbacks that could occur when the Fed raises rates. Pent-Up Housing Demand a Plus when Fed Raises Rates Job openings rose in July to 5.75 million as compared to June's reading of 5.32 million. This…
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08
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – September 8, 2015

Last week's economic news included reports on construction spending, private and public sector employment data and a report from the Fed indicating that any move to raise interest rates may be delayed. The details: Construction Spending Meets Expectations, Beige Book Indicates Wage Pressures Analysts said that construction is gaining strength and could soon be the strongest sector of the economy. Construction spending for July met growth expectations of 0.70 percent as compared to June's reading of 0.10 percent. The Commerce Department reported that this reading translated to a seasonally adjusted annual rate of $1.98 trillion, which was the highest rate…
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31
Aug
By Jim Hasek
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – August 31, 2015

Last week's economic news included several reports related to housing. The Case-Shiller 20-City Home Price Index for June rose to 4.50 percent as compared to May's reading of 4.40 percent. Denver, Colorado was the only city to post double-digit year-over-year growth. FHFA also released its House Price Index for June. Home prices for properties associated with mortgages owned or backed by Fannie Mae and Freddie Mac rose at a year-over-year rate of 5.60 percent in June as compared to May's reading of 5.70 percent. New Home Sales, Pending Home Sales Rise in July Commerce Department data revealed that new home…
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26
Aug
By Jim Hasek
Market Outlook, , , ,

Case-Shiller: Home Prices Continue to Outpace Inflation

Denver, Colorado continues to woo homebuyers as home prices rose by 10.20 percent as of June according to the Case-Shiller 20-City Home Price Index. The Mile-High City was the only city included in the index that posted double-digit year-over-year growth in June. San Francisco, California posted a 9.50 percent year-over-year gain in home prices and Dallas, Texas rounds out the top three cities posting highest year-over-year home price growth with a reading of 8.20 percent. Denver's home prices were impacted by the city's rapidly expanding economy and demand for homes coupled with a slim supply of homes for sale. According…
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