11 May 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – May 11, 2015

Market Outlook
Last week's scheduled economic reports primarily revolved around the jobs sector. The federal government released reports on Nonfarm Payrolls, the national unemployment rate and weekly report on new jobless claims. ADP issued its monthly report on private sector payrolls. Readings on labor statistics are important to housing markets as stable employment conditions are a significant consideration for prospective home buyers. Private-Sector Job Creation Falls, Non-Farm Payrolls Rise According to ADP, private-sector payrolls fell by 6000 jobs in April to a reading of 169,000 new jobs. This was the fifth consecutive monthly drop in new private sector jobs. ADP also adjusted…
Read More
04 May 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – May 4, 2015

Market Outlook
Last week's economic news included S&P Case-Shiller Home Price Index reports, the Fed's FOMC meeting statement and pending home sales. Freddie Mac mortgage rates and weekly jobless claims were also released as usual. The details: Case-Shiller: Denver Leads Home Price Gains in February The S&P Case-Shiller 20-City Home Price Index showed that home prices continue to appreciate, but at a slower rate than in previous years. Home prices increased at a seasonally-adjusted year-over-year rate of 4.20 percent in February as compared to the February 2014 reading of 4.40 percent. Denver, Colorado led February's year-over-year home price appreciation rates with a…
Read More
20 Apr 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – April 20, 2015

Market Outlook
Last week's economic reports included the NAHB Wells Fargo Housing Market Index, Housing Starts, and Freddie Mac's weekly survey of mortgage rates. Other news included the weekly jobless claims report and consumer sentiment for April. Mortgage Rates, Jobless Claims Rise Mortgage rates moved up according to Freddie Mac. The average rate for a 30-year fixed rate mortgage increased by one basis point to 3.67 percent. The average rate for a 15-year fixed rate mortgage also increased by one basis point to 2.94 percent. The average rate for 5/1 adjustable rate mortgages rose by five basis points to 2.88 percent. Discount…
Read More
13 Apr 2015
By Mark Feder

What’s Ahead For Mortgage Rates This Week – April 13, 2015

Market Outlook
Last week's economic news included the minutes from the most recent FOMC meeting, which indicated that the Fed's monetary policymakers are eyeing a potential increase in the target federal funds rate, but don't expect to do so immediately. Members of the Federal Open Market Committee expressed concerns about lagging housing markets and noted that inflation has not yet achieved the Fed's two percent goal. When the Fed decides to raise its target federal funds rate, which now stands at 0.00 to 0.25 percent, Interest rates and mortgage rates can be expected to rise as well. Mortgage Rates Lower, Jobless Claims…
Read More