20
Jul
By Jim Hasek
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – July 20, 2015

Last week's economic news included an encouraging report from the National Association of Home Builders, whose housing market index held steady with a reading of 60 in July. This was the 13th consecutive month for readings over 50, which indicate that more builders are confident about housing markets than those who are not. July's reading was noteworthy as it was the highest since November 2005 prior to the recession. Housing Starts, Building Permits Increase The Commerce Department provided further evidence of stronger housing markets with reports on housing starts and building permits issued in June. Housing starts rose from May's…
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17
Jul
By Jim Hasek
Market Outlook, ,

NAHB: Home Builder Confidence Holds Steady

Home builder confidence remained steady at the highest reading in almost ten years according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for July. The latest reading of 60 for the index was identical to expectations and June's reading, which was revised to 60 from an initial reading of 59. The NAHB Wells Fargo Housing Market Index is based on readings of zero to 100 with readings over 50 indicating that a majority of home builders surveyed are confident about housing market conditions. July's reading was the 13th consecutive month of readings above 50. July's…
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22
Jun
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – June 22, 2015

Last week's economic news included National Association of Home Builders / Wells Fargo (NAHB) Housing Market Index and Commerce Department reports on Housing Starts and Building Permits, the post-meeting statement of the Fed's Federal Open Market Committee (FOMC), and Fed Chair Janet Yellen's scheduled press conference. NAHB: Home Builder Confidence Hits 9 Month High Home builder confidence in housing market conditions is growing in spite of a planned merger between two builders and related cost-cutting efforts. According to the NAHB's the home builder index posted a reading of 59 in June as compared to an expected reading of 55 and…
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16
Apr
By Jim Hasek
Market Outlook, ,

Home Builder Confidence Rises in April

The National Association of Home Builders (NAHB) reported that April's Housing Market Index rose from a reading of 52 in March to 56 for April. This is in line with warmer weather and the peak home buying season in spring and summer. Readings over 50 indicate that more builders view market conditions as positive as those who do not. NAHB members cited lower mortgage rates and better labor market conditions as reasons they expect more home buyers to enter the market. All Components of Builder Confidence Increase The NAHB Home Builder Index is calculated from three components. The reading for…
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23
Mar
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – March 23, 2015

Last week's events included the National Association of Home Builder's Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellen's press conference. Home Builder Confidence Falls, Building Permits Rise The NAHB Wells Fargo Housing Market Index fell by two points for a reading of 53 in March. The expected reading was 57. Analysts said that this proves that lower mortgage rates and steady job growth aren't fueling housing markets as expected. NAHB chief economist David Crowe also cited supply…
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23
Feb
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – February 23, 2015

Last week's housing related reports included the National Association of Home Builders (NAHB) Housing Market Index for February, The Commerce Department's report on Housing Starts for January and Freddie Mac's weekly report on average mortgage rates. The Federal Reserve released the minutes of January's FOMC meeting, which indicated that FOMC members are in no hurry to raise the target federal funds rate. The details: Home Builder Confidence, Housing Starts Impacted by Winter Weather The NAHB Housing Market Index for February fell from January's reading of 57 to 55. Analysts expected a reading of 59. This was the lowest reading since…
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