What’s Ahead For Mortgage Rates This Week – June 13, 2016

What's Ahead For Mortgage Rates This Week - June 13, 2016Last week’s economic news was highlighted by Fed Chair Janet Yellen’s speech in Philadelphia. Although Chair Yellen alluded to future Fed rate hikes, she did not specify when Fed policymakers would next raise the target federal funds rate. Continue reading

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What’s Ahead For Mortgage Rates This Week – June 6, 2016

What's Ahead For Mortgage Rates This Week - June 6, 2016Last week’s housing related news was limited to Construction Spending and Freddie Mac’s mortgage rates survey, but labor reports suggested an economic slowdown may be in the works. Continue reading

Case-Shiller: Home Price Growth Expands to All Metro Areas

Case-Shiller: Home Price Growth Expands to All Metro AreasMarch home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent. Continue reading

Fed Holds Steady on Federal Funds Rate

In its post-meeting statement, the Federal Open Market Committee (FOMC) of the Federal Reserve announced its decision not to raise the current federal funds rate of 0.25 to 0.50 percent. Although FOMC members acknowledged further improvement in the U.S. economy and jobs markets, the committee cited the following as influencing its decision not to raise the current federal funds rate: Continue reading

Existing Home Sales Jump, Builder Confidence Holds Steady

Home buyers kicked the spring home shopping season into gear and boosted sales of pre-owned homes in March. Existing home sales rose 5.10 percent in March according to the National Association of Realtors®. 5.33 million pre-owned homes were sold in March against expectations of 5.30 million sales and February’s reading of 5.07 million sales on a seasonally adjusted annual basis. Continue reading

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

What's Ahead For Mortgage Rates This Week - April 18, 2016

Last week’s scheduled economic releases included reports on retail sales, inflation and the Federal Reserve’s Beige Book report. Weekly reports on mortgage rates and new jobless claims were also released. The Consumer Financial Protection Bureau announced a limited program for reducing principal on eligible mortgages held by Fannie Mae and Freddie Mac. This program is intended to resolve remaining “underwater” mortgages on homes worth less than their current mortgage amounts. Continue reading

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

What’s Ahead For Mortgage Rates This Week – April 11, 2016Last week’s economic news included minutes of the most recent Federal Open Market Committee (FOMC) meeting. Weekly reports on mortgage rates and new jobless claims were also released. Continue reading