09 Sep 2013
By Mark Feder
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What’s Ahead For Mortgage Rates This Week – September 9, 2013

Housing Analysis
Last week was relatively calm due to the Labor Day Holiday on Monday providing little mortgage and housing related news. However, there were several positive indicators for overall economic conditions. Construction spending rose by 0.60 percent in July and surpassed economists' expectations of 0.30 percent and June's zero percent growth. While this may seem a small increase, any indication that construction spending is increasing could indicate that residential construction is ramping up. This would be good news for home buyers, who've been facing a shortage of available homes in many areas of the U.S. The Fed Released Its Latest Beige…
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29 Aug 2013
By Mark Feder
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Pending Home Sales Indicates That The Housing Recovery Is Progressing

Housing Analysis
The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July. According to the organization's Pending Home Sales Index, this was the second straight month that pending home sales dropped. July's Pending Home Sales Index reading was 109.50. Signed Purchase Contracts For Existing Homes Tracked In The U.S. ·Northeast:  - 6.60 percent ·Midwest:    - 1.00 percent ·West:        - 4.90 percent ·South:       + 2.60 percent Pending home sales were 6.70 percent higher year-over-year on a national basis. This indicates that the housing recovery is progressing, but at…
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28 Aug 2013
By Mark Feder
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Case Shiller Price Index Shows Home Prices Are Still Increasing

Housing Analysis
Home prices are still rising, but at a slower pace according to the S&P Case-Shiller Home Price Indices for June.  Home prices for the cities surveyed in the HPI rose by 12.10 percent on an annual basis as compared to May's reading of 12.20 percent. This is the highest rate of monthly growth for home prices since the peak of the housing bubble in 2006.  June's home prices remained approximately 23 percent lower than peak prices, but economists consider the bubble peak an anomaly and caution against comparing current home prices to the peak prices seen in 2006. Overall Housing…
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26 Aug 2013
By Mark Feder
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What’s Ahead For Mortgage Rates This Week – August 26, 2013

Housing Analysis
Last week brought mixed economic news, but Leading Indicators released Thursday suggest that the U.S. economy is growing at a moderate rate. Mortgage rates for fixed rate loans were higher, but the average rate for a 5/1 adjustable rate mortgage was unchanged from the prior week. Weekly jobless claims were also higher. The National Association of REALTORS released its Existing Home Sales report for July and reported existing home sales came in at 5.39 million on an annualized basis. This reading surpassed expectations of 5.21 existing homes sold as well as June's reading of 5.06 million existing homes sold on…
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