24
Oct
By
Market Outlook, ,

Good News! Existing Home Sales Up And FHFA Home Prices Rise

After months of reports of slowing home price momentum and forecasts of a lagging housing market, we are pleased to report an increased volume of existing home sales as reported by the National Association of REALTORS®. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, reported rising prices for homes connected with Fannie Mae and Freddie Mac mortgages. Here are the details. Pedal to the Metal: Existing Home Sales Achieve Fastest Rate in a Year September sales of previously owned homes reached a seasonally adjusted annual rate of 5.17 million sales against expectations of 5.10 million…
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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…
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06
Oct
By
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – October 6, 2014

Last week's economic news included multiple reports on housing and the labor sector. The good news is that job markets appear to be stronger, with new jobless claims and the national unemployment rate lower. Unfortunately, housing continues to struggle in its recovery. Pending home sales slumped in August and the S&P Case-Shiller Housing Market Index reports for July showed slower growth in home prices with 19 of 20 cities posting lower gains than for June. Mortgage rates were mixed, but remained relatively steady. Housing Reports Show Slower Price Gains, Suggest Falling Demand The National Association of REALTORS® released data for…
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