22 Apr 2016
By Mark Feder

Existing Home Sales Jump, Builder Confidence Holds Steady

Financial Reports
Home buyers kicked the spring home shopping season into gear and boosted sales of pre-owned homes in March. Existing home sales rose 5.10 percent in March according to the National Association of Realtors®. 5.33 million pre-owned homes were sold in March against expectations of 5.30 million sales and February's reading of 5.07 million sales on a seasonally adjusted annual basis. Demand for homes remains strong in spite of rapidly escalating prices in many areas. Short supplies of available homes continue to drive demand and home prices. Sales rose only 1.50 percent year-over-year, but during the first quarter of 2016, existing…
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18 Apr 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – April 18, 2016

Financial Reports
Last week's scheduled economic releases included reports on retail sales, inflation and the Federal Reserve's Beige Book report. Weekly reports on mortgage rates and new jobless claims were also released. The Consumer Financial Protection Bureau announced a limited program for reducing principal on eligible mortgages held by Fannie Mae and Freddie Mac. This program is intended to resolve remaining "underwater" mortgages on homes worth less than their current mortgage amounts. Retail Sales Fall, Inflation Rises Retail sales fell in March to close out a weaker than expected first quarter 2016. Retail sales fell 0.30 percent in March as compared to…
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11 Apr 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – April 11, 2016

Financial Reports
Last week's economic news included minutes of the most recent Federal Open Market Committee (FOMC) meeting. Weekly reports on mortgage rates and new jobless claims were also released. FOMC Minutes Indicate Fed Not Pressing Rate Increases Minutes of the FOMC meeting held March 15 and 16 suggest that FOMC members are easing their enthusiasm for raising the target federal funds rate. In recent months, the committee has indicated that it was leaning toward raising rates on a slow but steady pace. Ongoing concerns over changing global economic and financial conditions contributed to FOMC's decision not to raise the key federal…
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04 Apr 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – April 4, 2016

Financial Reports
Last week's economic calendar was full of new releases including pending home sales, Case-Shiller Home Price Indices and construction spending. Labor related reports including ADP payrolls, federal Non-farm payrolls, and the national unemployment rate were also released along with reports on consumer confidence and weekly reports on mortgage rates and new unemployment claims. Case-Shiller: January Home Prices Up 5.7% Year-Over-Year According to the S&P Case-Shiller 20-City Home Price Index for January, home prices increased by 5.70 percent year-over-year. The West led price increases with double-digit price gains posted for San Francisco, California, Portland, Oregon and Seattle, Washington. Denver, Colorado also…
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