29 Jun 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – June 29, 2015

Market Outlook
Last week's economic news was largely positive as both new and existing home sales beat expectations. FHFA reported that home price growth held steady in May, while weekly jobless claims edged up, but were lower than expected. New and Existing Home Sales Exceed Expectations According to the Commerce Department, new home sales reached 546,000 on an annual basis for May. This surpassed expectations for 525,000 new homes sold and April's revised reading of 534,000 new homes sold. Expectations were based on the original reading of 517,000 new homes sold in April. Existing home sales rose by 5.10 percent in May…
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22 Jun 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – June 22, 2015

Market Outlook
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. NAHB: Home Builder Confidence Hits 9 Month High Home builder confidence in housing market conditions is growing in spite of a planned merger between two builders and related cost-cutting efforts. According to the NAHB's the home builder index posted a reading of 59 in June as compared to an expected reading of 55 and…
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18 Jun 2015
By Mark Feder

Federal Reserve: No Change on Target Fed Funds Rate

Market Outlook
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 achieving the Federal Reserve's dual goal of maximum employment and an inflation rate of two percent, committee members indicated that they want to see further improvements in both areas before raising the federal funds rate. In its customary post meeting statement, the FOMC said that it may not raise rates when both goals have been achieved. This statement may have been meant to calm ongoing…
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15 Jun 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – June 15, 2015

Market Outlook
Retail Sales, Consumer Confidence Up 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. Auto and gasoline sales led the charge to higher retail sales, but analysts said that most retail sectors posted gains. Upward revisions of March and April's retail sales provided evidence of stronger economic conditions. Consumer sentiment jumped nearly four points from May's reading of 90.7 to 94.6 in June. This appears to be great news compared to the year before the recession, when consumer sentiment averaged a reading of 86.9. Weekly…
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