25 Mar 2015
By Mark Feder

FHFA: Home Prices Rise 0.30 Percent in January

Market Outlook
The Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014. FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac. Month- to- Month FHFA Home Prices Mixed Month to month home price data was mixed for January. Home prices ranged from -0.40 percent in the Middle and South Atlantic census divisions to +2.30 percent in the East…
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23 Mar 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – March 23, 2015

Market Outlook
Last week's events included the National Association of Home Builder's Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellen's press conference. Home Builder Confidence Falls, Building Permits Rise The NAHB Wells Fargo Housing Market Index fell by two points for a reading of 53 in March. The expected reading was 57. Analysts said that this proves that lower mortgage rates and steady job growth aren't fueling housing markets as expected. NAHB chief economist David Crowe also cited supply…
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19 Mar 2015
By Mark Feder

FOMC Statement: Federal Reserve Discusses Rate Increase, But Concerned About Growth

Market Outlook
The post-meeting statement of the Federal Reserve's Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent. 15 of 17 Federal Open Market Committee members said that they expected interest rates to increase before year-end, but downwardly revised forecasts of how high rates might be…
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16 Mar 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – March 16, 2015

Market Outlook
Last week's economic reports included job openings, retail sales, retail sales except automotive, consumer sentiment for March and the usual reports on weekly jobless claims and mortgage rates. Job Openings Highest in 14 Years The Labor Department reported that job openings reached their highest level in 14 years in January, and rose by 2.50 percent over December 2014 job openings. On a seasonally adjusted basis, there were five million job openings in January. Job openings rose by 28 percent year-over-year. Hiring rose by 3.50 percent to 5.24 million, but analysts said that employers continue to have difficulty in finding workers…
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