09
Apr
By
Market Outlook, ,

FOMC Minutes: Housing Market Stable But Slow

The minutes of the March meeting of the Fed’s Federal Open Market Committee (FOMC) were released Tuesday and included a staff review of current economic conditions. The minutes noted that while labor markets continued to grow, inflation to the Fed’s target rate of 2.00 percent was impeded by dropping fuel prices. The Committee noted that expectations for longer-term inflation remained stable. Non-farm payrolls, which include both private and public sector jobs, grew in January and February and the national unemployment rate reached a new low of 5.50 percent in February. Readings for workers employed part time due to economic reasons…
Read More
16
Dec
By
Housing Market, ,

Home Builder Index Stays Near Nine Year Peak

Home Builder Sentiment slipped to a reading of 57 in December according to the National Association of Home Builders Housing Market Index. November's reading of 58 prompted analysts to project a reading of 59 for December. The latest reading marks the sixth consecutive month for readings above 50. Any reading over 50 indicates that more builders are positive about housing market conditions than not. The one-point decline in December's reading kept the NAHB Housing Market Index within two points of a nine-year high reached in September. NAHB: Housing Market Index Suggests Slow Return to Normalcy NAHB's chief economist, David Crowe,…
Read More
20
Oct
By
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – October 20, 2014

Last week's economic highlights included the National Association of Home Builders (NAHB) Housing Market Index for October. The Commerce Department also released Housing Starts for September. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage dropped below four percent. The Fed released its Beige Book report, and Weekly jobless claims came in lower than expected. Here are the details: Homebuilder Confidence Slips in Spite of Lower Mortgage Rates U.S. Homebuilder confidence in housing market conditions slipped by 5 points to October's reading of 54 as compared to September's reading; this was also lower than the expected…
Read More