Mortgage interest rates were mostly flat on the week on mixed economic data. Economic data stronger than expected included January Pending Home Sales, the February Consumer Confidence Index, the second look at Q4 GDP, the February Chicago Purchasing Managers Index, and weekly jobless claims. Pending Home Sales reached its highest level since April of 2010. [...]
Mortgage interest rates improved slightly despite limited new economic data. Economic data of note included January Existing Home Sales, which were slightly weaker than expected. January New Home Sales, though, were slightly stronger than expected. The University of Michigan Consumer Sentiment Index increased to 75.3, its highest level since February of 2011. The Treasury auctioned [...]
Mortgage interest rates increased slightly as economic data was generally positive. December Business Inventories, January Capacity Utilization, January Housing Starts, the February Philadelphia Fed Business Index, and January Leading Economic Indicators were all in line with expectations. Economic data better than expected included January Retail Sales excluding automobiles, the New York Empire State Manufacturing Index, [...]
Mortgage interest rates were mostly flat on the week as there was limited new economic data for markets to digest. Of note, December Consumer Credit increased more than expected. Weekly jobless claims fell by 15k to 358k claims on expectations that claims would increase by 3k. December Wholesale Inventories increased more than expected and the [...]
Mortgage interest rates were mostly flat week over week despite today’s stronger than expected employment report for January. The unemployment rate fell to 8.3% on expectations that it would remain unchanged at 8.5%. Non-farm payrolls increased by 243k on expectations that they would increase by 163k. Private non-farm payrolls increased by 257k on expectations that [...]
Total U.S. foreclosure activity and the U.S. foreclosure rate in 2011 were both at their lowest annual level since 2007, according to RealtyTrac®, an online marketplace for foreclosure properties. The company recently released its Year-End 2011 U.S. Foreclosure Market Report™, which shows a total of 2,698,967 foreclosure filings-default notices, scheduled auctions and bank repossessions-were reported [...]
Mortgage interest rates improved this past week on the Fed’s FOMC Announcement. At the conclusion of its FOMC meeting on Wednesday, the Fed announced that they plan to leave the Fed Funds rate at current levels of 0% to 0.25% through the end of 2014, signaling concern regarding the economic recovery. Previously, the Fed had [...]
Mortgage interest rates increased slightly this past week as economic data was generally either better than expected or in line with expectations. Economic reports stronger than expected included the New York Empire State Manufacturing Index, the NAHB housing market index, and weekly jobless claims. Weekly jobless claims fell by 50k on expectations that they would [...]
Mortgage interest rates improved slightly this week on continued European fears. Friday’s announcement that S&P is set to cut France and Austria’s AAA rating, along with rating cuts to other European sovereigns, rattled markets. The international trade gap in November widened sharply and more than expected to $47.8B, from $43.3B in October. A monthly dip [...]
When it comes to housing, baby boomers are different from many people in two important ways: they have more equity in their homes, and many are preparing to move. If housing experts are right, boomers-the 77 million Americans ages 47 to 65-soon may be a sweet spot in an otherwise sour market for new homes. [...]
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