08 Sep 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – Sept 8, 2014

Market Outlook
Last week's housing-related economic news was slim, likely due to the Labor Day holiday Monday. On Tuesday, the U.S. Commerce Department reported that construction spending for July increased by 1.80 percent as compared to June's revised reading of 1.0 percent and expectations of a 1.0 percent increase for July. The Federal Reserve released its Beige Book report Wednesday; the collection of anecdotes from business contacts within the 12 Federal Reserve districts indicated that the general economy was strengthening as well as labor markets. The Fed noted a shortage of skilled workers. New construction and home sales grew modestly, but the…
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02 Sep 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – Sept 2, 2014

Market Outlook
Last week's economic news included several reports related to housing. The Case-Shiller and FHFA reports for June showed a further slowing in home price growth. New home sales for July fell short of the expected reading, but pending home sales exceeded expectations. The details: Case-Shiller, FHFA: June Home Price Growth Slows The Case-Shiller 10 and 20-City Home Price Index for June moved from May's year-over-year reading of 9.40 percent growth to 8.10 percent in June. Home prices grew by 1.00 percent on a month-to-month basis in June as compared to May's reading of 1.20 percent. Demand shrank due to increasing…
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28 Aug 2014
By Mark Feder

Case-Shiller, FHFA Report Slowing Growth in Home Prices

Market Outlook
The Case-Shiller 10 and 20-City Home Price Indices for June reported year-over-year gains of 8.10 percent while the Case-Shiller National Home Price Index covers all nine census regions and reported a year-over-year gain of 6.20 percent. Readings for all three indices worsened as compared to May readings, and all cities tracked showed slower growth in home prices. The National Home Price Index, which is now published monthly, rose by 0.90 percent from May's reading, and both the 10 and 20-City Index posted month-to-month gains of one percent. Five cities including Detroit, Las Vegas, New York, Phoenix and San Diego posted…
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25 Aug 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – Aug 25, 2014

Market Outlook
Last week's economic news brought several reports related to housing. The National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for August rose by two points to 55, which was its highest reading in seven months. Components of the NAHB HMI include builder surveys on conditions related to upcoming sales of new homes, which rose by two points for a reading of 65. Builder sentiment concerning present sales conditions also rose by two points to 58. Builder views on prospective buyer traffic rose from 39 to 42. Readings above 50 indicate that more builders viewed housing market conditions…
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