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Today's Mortgage Rate Update for Thursday 1/17/2013

By
Real Estate Agent with Premier Agent Network

Here is today's mortgage rate update for Thursday January 17, 2013.  It looks like housing is ready to lead the economy forward in the future.  Housing starts were up 12.1% for December and this follows the 4.3% increase in November.  In San Luis Obispo County here in California we need more moderate and low income building of single family property, but the fees and lack of loans for builders hurts us here.

This update is brought to us by Prudential California Realty in San Luis Obispo.  Thanks to them for all their help!

Visit my web site at www.myslohomefinder.com for all your San Luis Obispo County needs.

The Day Ahead: Throwing More Data Against the Wall, MBS Mostly Dead
 
Housing is still recovering and at moderate levels of activity but December starts suggest that recovery is moving somewhat faster than earlier believed. Housing Starts in December rebounded a sharp 12.1 percent, following a dip of 4.3 percent the month before. The December starts pace of 0.954 million units topped analysts' forecast for 0.887 million units and was up 36.9 percent on a year-ago basis. Indications from Jobless Claims continue to be elusive. Initial claims in the January 12 week plunged 37,000 to 335,000 for a recovery low and massively below Econoday expectations for 368,000. December's increase was a one-month wonder for the Philly Fed Manufacturing Index which is back in contraction at minus 5.8 vs December's plus 8.1.
 
Dow is trading at 13,574+63.82, the 10 yr bond is at 1.86 from 1.82 Yesterday, . Currently mortgages areslightly worse from Yesterday
 
Conv. - 3.5%
FHA. -  3.25%          
 
Sell!  Sell!  Sell!
 
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Comments (2)

John Pusa
Glendale, CA

Mike - This is good news on housing start up increased in 2012. Thanks for the information about mortgage rate update for Thursday 1/17/2013.

Jan 17, 2013 10:45 AM
Mike Hendrickson
Premier Agent Network - San Luis Obispo, CA
Fine Homes, Short sales, excellent client services

Thanks for your comments!  We need to start building again!

Jan 18, 2013 01:17 AM