24 Nov 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – November 24, 2014

Market Outlook
Last week's scheduled economic news included the NAHB/Wells Fargo Housing Market Index, Housing Starts and Existing Home Sales. FOMC meeting minutes were released along with weekly Freddie Mac mortgage rates and weekly jobless claims. In addition, the National Association of Realtors® suggested that FHA should lower its mutual mortgage insurance premiums (MMI) as its fund for paying claims has normalized since recession. Homebuilder Confidence Nears Nine-Year High The National Association of Home Builders/ Wells Fargo Housing Market Index achieved a reading of 58 for November. This was two points higher than the expected reading of 56 and four points above…
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20 Nov 2014
By Mark Feder

FOMC Minutes: Economy Growing, Housing Lags

Market Outlook
Minutes of the Federal Open Market Committee (FOMC) meeting held October 28 and 29 were released Wednesday. The report suggests that the U.S. economy continues to improve, although the annual inflation rate remains near 1.50 percent and short of the committee's goal of 2.00 percent. Falling crude oil prices were cited as a cause of faltering inflation rates. The minutes indicated that FOMC members expect inflation to remain below the 2.00 percent benchmark for the next year or so. The minutes did not reveal an exact date for raising the target federal funds rate, which is currently 0.00 to 0.250…
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17 Nov 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – November 17, 2014

Chapter 7 Bankruptcy
Last week's housing related news was lean, with no scheduled reports released other than Freddie Mac's primary mortgage market survey. We'll start with some good news. The University of Michigan / Thompson-Reuters Consumer Sentiment Index reported its highest reading in more than seven years. November's reading of 89.4 surpassed the expected reading of 88.0 and was higher than October's reading of 86.9 Mortgage Rates Near 4.00 Percent, Weekly Jobless Claims Up Freddie Mac reported a one-basis point drop in the average rate for 30-year fixed rate mortgage from 4.02 percent to 4.01 percent; the average rate for a 15-year fixed…
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10 Nov 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – November 10, 2014

Market Outlook
Last week's economic reports contained mixed reports indicating that the economy continues to recover with occasional "blips" in its progress. Construction spending was lower than expected. A Federal Reserve survey of senior loan officers indicated that credit standards remain strict for mortgages and other types of lending. According to the survey, a "modest net fraction" of large banks had eased credit standards for prime mortgage lending. First-Time Homebuyers Struggle as Market Share Hits 27-Year Low The National Association of REALTORS® (NAR) reported that first-time buyers' share of home purchases has slipped to 33 percent, which was its lowest level in…
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