08 Aug 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – August 8, 2016

Mortgage Rates
Last week's economic reports included construction spending, personal income, and multiple reports on employment. Freddie Mac's mortgage rates survey and new jobless claims were also released. Construction Spending Dips in June According to the Commerce Department, construction spending fell in June to -0.60 percent as compared to expectations of an increase of 0.50 percent and May's reading of -0.10 percent. Spending was even across public and private construction spending. The Commerce Department said that construction spending on June rose to $1.13 trillion was 0.30 percent year-over-year and was 6.20 percent higher for the first six months of 2016 as compared…
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01 Aug 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – August 1, 2016

Mortgage Rates
Last week's economic reports included S&P Case-Shiller Housing Market Indices, reports on new and pending home sales, Freddie Mac's weekly mortgage rates survey. The Federal Reserve released its customary statement after the scheduled Federal Open Market Committee meeting concluded; the Committee did not raise the federal funds rate of 0.25 percent, but indicated that economic risks were fewer, which suggested that the key Fed rate may be increased in September. According to the S&P Case-Shiller 20-City Home Price Index for May, home price growth dipped from 5.40 percent in April to 5.20 percent in June as calculated on a seasonally-adjusted…
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25 Jul 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 25, 2016

Mortgage Rates
Housing Starts, Building Permits Issued Rise Commerce Department reports on housing starts and building permits issued were released Tuesday. Housing starts rose to 1.189 million in June against expectations of 1.165 million starts and May's downwardly revised reading of 1.135 million starts, Housing starts rose by 4.80 percent on a seasonally-adjusted annual basis. This is good news for housing markets, but analysts said that demand for homes continued to exceed available supplies. Building permits issued also rose in June to 1.53 million as compared to May's reading of 1.136 million permits issued. Existing Home Sales Increase: National Association of Realtors®…
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18 Jul 2016
By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 18, 2016

Mortgage Rates
Last week's economic news included reports on inflation, retail sales and weekly readings on mortgage rates and weekly jobless claims. Mortgage rates were mixed with average rate for a 30-year fixed rate mortgage rising by one basis point to 3.42 percent. The average rate for a 15-year mortgage dropped by two basis points to 2.72 percent, and the average rate for a 5/1 adjustable rate mortgage rose six basis points to 2.76 percent. Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 5/1 adjustable rate mortgages and 0.40 percent for 15 year fixed rate mortgages. Freddie Mac said…
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