Blog – Page 662 of 781

29 Dec 2014

What’s Ahead For Mortgage Rates This Week – December 29, 2014

Market Outlook

Last week's economic news included several housing related reports. Housing markets continue to cool as November reports on existing and new home sales fell below expectations. New Jobless claims were lower than expected by 10,000 claims. The details: Existing and New Home Sales Down, FHFA House Price Index Up The National Association of Realtors® reported that November sales of existing homes fell to 4.93 million sales against expectations of 5.18 million sales. October's reading was revised from 5.25 million sales to 5.26 million. This was seen as an anomaly that may have occurred during uncertainty caused by volatile stock markets.…

24 Dec 2014

By Mark Feder

Existing Home Sales Dip to Lowest Level since May

Market Outlook

The National Association of Realtors® reported that sales of existing homes dropped to a seasonally-adjusted annual rate of 4.93 million as compared to expectations of a 5.18 million existing homes sold. Projections were based on October's reading of 5.25 million. November's reading showed a 6.10 percent dip in sales of existing homes and was the lowest reading since May.Fed Chair Janet Yellen said last week that the less than robust housing recovery is due in part to tight lending standards. Lawrence Yun, chief economist for the National Association of Realtors®, said that November's reading was likely an aberration due to…

23 Dec 2014

By Mark Feder

Are You Applying for a Reverse Mortgage? Here Are 3 Considerations You’ll Need to Make

Home Mortgage Tips

If you're a homeowner who is looking to tap in to the home equity that you've spent years building you may be interested in a "reverse mortgage" or "home equity conversion mortgage". While these unique financial tools aren't for everyone, if you qualify for a reverse mortgage you'll find that this might be the perfect financial solution which allows you to pay off your existing mortgage, or for some other regular expenses that you have. Let's take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage…

22 Dec 2014

By Mark Feder

What’s Ahead For Mortgage Rates This Week – December 22, 2014

Market Outlook

Last week's scheduled economic events were few but informative. Housing related reports included the National Association of Home Builders/Wells Fargo Housing Market Index for December, which stayed close to a nine-year high reading of 59 in September. December's reading was 57 and fell two points shy of the expected reading of 59. November's reading was 58. Readings above 50 indicate that more builders are positive about market conditions than those who are not. Housing Starts for November were lower according to the Department of Commerce's report released Tuesday. The reading for November was 1.028 million starts on a seasonally adjusted…