06
Jul
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – July 6, 2015

Last week's housing-related economic events included the Case-Shiller Home Price Index reports for April, the Commerce Department's Pending Home Sales report and a report on Construction Spending. In other economic news, Non-Farm Payrolls, the ADP Employment report and Consumer Confidence reports were released. Freddie Mac's mortgage rates summary and the weekly unemployment claims report were released as usual. Case-Shiller: Home Price Growth Slows in April The Case-Shiller 20-City Home Price Index reported that year-over-year home prices slowed in April with a reading of 4.20 percent as compared to the March reading of 4.30 percent. David M Blitzer, chairman of the…
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15
Jun
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – June 15, 2015

Retail Sales, Consumer Confidence Up Retail sales rose for the third consecutive month. May sales increased at a seasonally adjusted rate of 1.20 percent according to Commerce Department data. Auto and gasoline sales led the charge to higher retail sales, but analysts said that most retail sectors posted gains. Upward revisions of March and April's retail sales provided evidence of stronger economic conditions. Consumer sentiment jumped nearly four points from May's reading of 90.7 to 94.6 in June. This appears to be great news compared to the year before the recession, when consumer sentiment averaged a reading of 86.9. Weekly…
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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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27
Apr
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – April 27, 2015

Last week's housing related reports included the FHFA Home Price Index, the National Association of Realtors® Existing Home Sales report and The Commerce Department's report on new home sales. Results were mixed, but suggest that housing markets are strengthening. FHFA Home Prices Up in February, Existing Home Sales Highest in 18 Months The Federal Housing Finance Agency reported that home prices associated with mortgages owned or backed by Fannie Mae and Freddie Mac rose from a 5.10 percent increase in January to a seasonally adjusted annual rate of 5.40 percent in February. The National Association of Realtors® reported that sales…
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06
Apr
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – April 6, 2015

Mortgage rates ticked upward for fixed rate loans and were unchanged for 5/1 adjustable rate mortgages according to Freddie Mac. Weekly jobless claims were lower in spite of slower job growth reports. Last week's economic events included several reports on jobs and unemployment including the ADP report on private-sector payrolls, the Department of Labor's reports on non-farm payrolls and the national unemployment rate. The details: Mortgage Rates, Pending Home Sales Weekly Jobless Claims Fixed mortgage rates rose by one basis point for both 30 and -15-year mortgages. The average rate for a 30 year mortgage rate was 3.80 percent and…
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