Sales of previously owned homes dropped in August by 4.80 percent on an annual basis for the first time in four months; the dip was likely caused by rising home prices. August sales were reported at a rate of 5.31 million; July’s rate was 5.58 million sales of previously owned homes.
What’s Ahead For Mortgage Rates This Week – September 21, 2015
September 21, 2015 by
Last week’s economic releases included several reports related to housing. The Wells Fargo/NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week’s big news was actually no news. The Fed’s Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet ready to raise rates, but that a majority of FOMC members are prepared to raise rates before year-end.
NAHB: Builder Confidence Hits Highest Rate in 9 Years; Fed Doesn’t Raise Rates
September 18, 2015 by
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index reported that home builder confidence rose by one point to a reading of 62 for September. This was the highest reading since November 2005, when the NAHB reported a reading of 68 for home builder confidence.
Case-Shiller: Home Price Growth Slower in April
July 1, 2015 by
According to the Case-Shiller 20-City Home Price Index for April, home prices slowed from the March reading of 4.30 percent year-over-year to 4.20 percent year-over-year.
What’s Ahead For Mortgage Rates This Week – June 29, 2015
June 29, 2015 by
Last week’s economic news was largely positive as both new and existing home sales beat expectations. The Federal Housing Finance Agency reported that home price growth held steady in May, while weekly jobless claims edged up, but were lower than expected.
What’s Ahead For Mortgage Rates This Week – June 22, 2015
June 22, 2015 by
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.
Federal Reserve: No Change on Target Fed Funds Rate
June 18, 2015 by
The Federal Open Market Committee (FOMC) of the Federal Reserve did not move to increase the Fed’s target federal funds rate, which is currently 0.00 to 0.250 percent. Although the committee acknowledged further progress toward…
What’s Ahead For Mortgage Rates This Week – June 15, 2015
June 15, 2015 by
Retail sales rose for the third consecutive month. May sales increased at a seasonally adjusted rate of 1.20 percent according to Commerce Department data.
What’s Ahead For Mortgage Rates This Week – June 8, 2015
June 8, 2015 by
Last week’s economic news included reports on construction spending, Freddie Mac’s mortgage rates survey and several employment related reports.
What’s Ahead For Mortgage Rates This Week – June 1, 2015
June 1, 2015 by
Last week’s economic reports included the Case-Shiller Home Price Indexes, FHFA’s House Price Index and Pending Home Sales from the Commerce Department.
