Real estate blog entries tagged with mortgage rate outlook by Bob Elliot, 20+ Yrs Industry Experience (eXp Realty)

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mortgage rate outlook: What's Ahead For Mortgage Rates This Week - February 27, 2017 - 02/27/17 06:39 AM

Last week's readings on new and existing home sales provided further evidence of strengthening housing markets. Both categories of home sales exceeded December's readings. Consumer sentiment was lower in February than for January and average rates were mixed with fixed rates higher and the rate for 5/1 adjustable rate mortgages lower. Consumer sentiment lower in February.
New and Previously-owned Home Sales Higher in January
Home sales volume rose in January regardless of obstacles including higher mortgage rates and rising home prices. The National Association of Realtors® reported more sales of pre-owned homes in January. 5.69 million homes were sold on a seasonally-adjusted … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - February 21, 2017 - 02/21/17 06:23 AM

Last week's economic releases included readings on housing starts, building permits issued and the National Association of Home Builders/ Wells Fargo Housing Market Index. Fed Chair Janet Yellen testified before the House Finance Committee and consumer spending and core consumer spending reports were also released. Mortgage rates and new jobless claims were little changed week-to-week.
Home Builder Sentiment Slows as Industry Faces Obstacles
NAHB reported lower reading for its January Housing Market Index. January's index reading was two points lower at 65 than December's reading. Builders surveyed for the index cited ongoing shortages of buildable lots and labor, they also said that … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - February 13, 2017 - 02/13/17 06:24 AM

Last week's scheduled economic readings were limited and included new jobless claims and Freddie Mac's mortgage rates survey. In other news, all types of mortgage applications rose by 2.30 percent this week as compared to the prior week.
Mortgage Rates Lower, Home Loan Applications Rise
Freddie Mac reported lower mortgage rates for fixed rate and 5/1 adjustable mortgages; the average rate for 30-year fixed rate mortgages dropped two basis points to 4.17 percent. Average rates for 15-year mortgages also dropped two basis points to 3.39 percent. 5/1 adjustable mortgage rates averaged 3.21 percent, which was also two basis points lower than the … (0 comments)

mortgage rate outlook: The 2017 Mortgage Rate Outlook: Here's What the Experts Are Saying - 02/09/17 07:45 AM

The post-election period is often one of uncertainty, and the time since the 2016 election has been no different with regards to market force and the financial world. With a new administration taking office, there are many questions regarding how Donald Trump's presidency will impact the market and your mortgage. If you're wondering what the predictions are for the coming year, here are a few things the experts are considering.
An Increase In Rates
Due to an expected hike in rates by the Federal Reserve, it's unlikely that potential homebuyers will be able to get the low interest rates of previous years. … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - February 6, 2017 - 02/06/17 06:59 AM

Last week's economic news included several good signs for U.S. Labor Markets with higher than expected readings for private and public sector job creation. The Federal Reserve announced its decision not to raise the target federal funds range, and inflation rose. Mortgage rates held steady and pending home sales rose.
Private and Public Sector Jobs Post Unexpected Gains
ADP, which tracks private-sector job growth, showed a gain of 246,000 jobs in January against expectations of 168,000 new jobs and December's reading of 151,000 private sector jobs created. Analysts said 208,000 of jobs added were service-related jobs. January's Non-Farm Payrolls, which is issued … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - January 30, 2017 - 01/30/17 06:50 AM

Last week's economic news included readings on new and existing home sales and mortgage rates. Also released were reports on new jobless claims and consumer sentiment.
New and Existing Home Sales Lower in December
According to the U.S. Commerce Department, sales of new homes fell to 536,000 sales on a seasonally-adjusted annual basis. This reading was markedly lower than the expected rate of 595,000 sales and November's reading of 598,000 sales. Analysts said that the drop in new home sales indicated that the housing sector is still experiencing a rocky recovery. December's reading for new home sales was 10.4 percent lower than … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - January 9, 2017 - 01/09/17 07:12 AM

2017 started with good news; fixed mortgage rates were lower, but the national unemployment rate ticked upward and labor reports showed fewer openings for public and private sector jobs. Construction spending was higher in November.
Mortgage Rates Lower; Construction Spending Higher
Freddie Mac reported lower average rates for fixed rate mortgages as the average rate for a 5/1 adjustable rate mortgage crept up. The average rate for a 30-year fixed rate mortgage dropped by 12 basis points to 4.20 percent; The average rate for a 15-year mortgage fell 11 basis points to 3.44 percent while the average rate for a 5/1 adjustable … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - January 2, 2017 - 01/02/17 07:24 AM

Last week's economic reports were in short supply due to the Christmas holiday. Events reported included Case-Shiller home price indices, pending home sales and weekly readings on mortgage rates and new jobless claims. Consumer confidence was also released.

Case-Shiller Readings Indicate No Slowdown in Home Price Gains
Case-Shiller's October readings for its home price indices showed continued growth in home prices. In spite of rising home prices and mortgage rates, high demand for homes and slim supplies of homes for sale continued to fuel higher home prices.
According to Case-Shiller's national home price index for October, home prices rose 5.60 percent on an … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - December 12, 2016 - 12/12/16 08:36 AM

As 2017 winds down, analysts are forecasting economic developments for 2017. Forbes identified three indicators that the U.S. housing market has recovered. Mortgage rates rose again last week; jobless claims fell and consumer sentiment jumped rose five points. The details:
Housing Market Recovery Complete: Forbes
Three conditions were cited by Forbes as evidence that the housing market has recovered:
Analysts said that homeowners are putting their homes on the market after years of waiting for home prices to peak. On the flip side, mortgage rates are expected to rise further and home buyers may be taking a "now or never" plunge into buying … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - November 29, 2016 - 11/29/16 07:34 AM

Last week's economic reports included new and pre-owned home sales, new jobless claims and Freddie Mac's weekly mortgage rates survey.
Home Sales Mixed in October
According to the National Association of Realtors®, sales of previously owned homes reached a seasonally adjusted annual level of 5.60 million sales, which exceeded expectations and October's reading of 5.49 million sales. Analysts had expected a rate of 5.44 million sales.
October sales of preowned homes rose 2 percent over September's reading and were 5.90 percent higher year-over-year. This was the highest reading for sales of pre-owned homes since February 2007. High demand for homes is driving housing … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - November 21, 2016 - 11/20/16 11:39 PM

Last week's economic reports included readings on the National Association of Home Builders Housing Market Index, Commerce Department releases on Housing Starts and Building Permits issued and weekly reports on new jobless claims and mortgage rates.

Builder Sentiment Holds Steady, Demand for Homes Pushes Builders
November's reading for the National Association of Home Builders Housing Market Index held steady with a reading of 65. Any reading above 50 indicates that a majority of home builders surveyed has a positive view of current and future housing market conditions. Tight supplies of available homes, steep competition for homes in desirable metro areas and rising home … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - November 7, 2016 - 11/06/16 10:20 PM

Last week's economic news included reports on inflation, construction spending, the Federal Reserve's announcement regarding interest rates and several labor and employment related releases. Weekly reports on new jobless claims and Freddie Mac's survey of interest rates were also released.
Construction Spending Rises, Fed Holds Steady on Interest Rates, Suggests December Increase
Construction spending remained in negative territory for September according to the Commerce Department. The month-to-month reading decreased by 0.40 percent against the expected reading of +0.40 percent and August's reading of -0.50 percent. Approaching winter weather is a likely reason for less spending, but ongoing challenges with shortages of buildable … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 31, 2016 - 10/31/16 12:25 AM

Last week's economic reports included S&P Case-Shiller Home Price Indexes, along with readings on new and pending home sales. Recurring weekly reports on mortgage rates and new jobless claims were also released.
Case-Shiller: Pacific Northwest Shows Fastest Home Price Growth
According to the Case-Shiller 20-City Home Price Index for August, home prices in Portland, Oregon and Seattle, Washington grew fastest year-over-year. Portland posted an August index reading of 11.70 percent and Portland followed closely with a reading of 11.40 percent. Denver, Colorado rounded out the top three cities with the fastest rates of home price growth with a year-over-year reading of 8.80 … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 10, 2016 - 10/10/16 12:27 AM

Other than a release on construction spending, last week's economic readings were dominated by labor and employment data including ADP Payrolls, Non-Farm Payrolls and National Unemployment. Weekly reports on mortgage rates and new jobless claims were also released.
Construction Spending Drops in August
Commerce Department readings on construction spending indicate that overall spending fell in August to -0.70 percent; this reading was lower than the expected positive reading of 0.10 percent. July's reading showed a drop of 0.30 percent in overall construction spending. The decrease in August spending was largely the result of pull backs on public construction spending, which declined 2.0 … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 29, 2016 - 08/29/16 12:30 AM

Last week's economic reports included readings on new and existing home sales, a speech by Fed Chair Janet Yellen, and a report on consumer sentiment. Weekly reports on mortgage rates and new jobless claims were also released.
New Home Sales Rise in July as Pre-Owned Home Sales Fall
Sales of new homes jumped in July to a seasonally-adjusted annual rate of 654,000 sales, which surpassed expectations of 579,000 sales and June's downwardly-revised reading of 582,000 sales. This was the highest reading for new home sales since 2008 and represented a 31.30 percent increase since July 2015.
Builders were seen by analysts as addressing … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 1, 2016 - 08/01/16 12:02 AM

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 annual … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 25, 2016 - 07/24/16 11:45 PM

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®
Sales of previously-owned homes … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 18, 2016 - 07/17/16 11:44 PM

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 that … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 11, 2016 - 07/10/16 11:51 PM

Last week's economic news included minutes from the most recent meeting of the Fed's Federal Open Market Committee (FOMC) along with several reports on private and public sector employment and the national unemployment rate. Weekly reports on mortgage rates and new jobless claims were also released.
FOMC Minutes: Committee Closely Monitoring Economic Developments
The minutes of June's FOMC meeting indicate that Fed policymakers continue to be cautious based on low inflation and close review of domestic and global economic developments. Committee members acknowledged improvements in the housing market, but also noted that annual inflation remains below the Fed's two percent goal. Low … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 5, 2016 - 07/05/16 12:27 AM

Last week's economic events included S&P Case-Shiller's Housing Market Indices for April along with reports on Construction Spending and Pending Home Sales. Consumer Confidence was higher in June in spite of low wage growth and inflation well below the Fed's goal of 2.00 percent annually.
S&P Case-Shiller: Home Price Growth Ticks Downward
April home values grew by 5.40 percent in April on a seasonally-adjusted annual basis. Case Shiller reported a drop in momentum from the March reading of 5.50 percent according to the S&P Case-Shiller 20-City Home Price Index. While no city included in the 20-City Index reported lower home values, the rate … (0 comments)

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