Economic News...For housing was oozing with positive data! Despite the constrained inventory of available homes both the Existing Home Sales and New Home Sales reports showed strong results. Durable Goods Orders beat estimates and Weekly Jobless Claims bounced back from last week’s disappointing report. Mortgage Markets...Mortgage rates continue to march higher during May. Mortgage Backed Securities are currently underperforming the Treasury market. The 10 Year Note is currently trading at 2.013% which is up from last week’s closing yield of 1.956%. Next Week’s Market Moving Reports...Tuesday: Case-Shiller Home Price … (4 comments)
680 corridor real estate news: Bay Area Mortgage & Market Update for May 10th
- 05/10/13 10:56 AM
Economic News...There was really only one important report on tap for what was a week that lacked any significant economic news. Weekly Jobless Claims improved for the third consecutive week. The market was expecting 335K new claims but was greeted with 323K. It was not that long ago that 400K was the norm. The four week moving average also continues to improve and has once again moved to a recovery low. To all the Mom’s out there...Have a Happy Mother’s Day!!! Mortgage Markets...Mortgage rates have been trending higher as the week comes to a close. The 10 Year Note … (4 comments)
680 corridor real estate news: Bay Area Mortgage & Market Update for May 3rd
- 05/03/13 10:16 AM
Economic News...The ADP Employment Report released Wednesday was a mixed bag and pointed toward a weaker outlook on the nation’s employment picture. When the Employment Situation results were announced this morning they very much surprised on the upside, erasing any fears about the ADP Report, and the equity markets took off. The Dow touched 15,000 for the first time while the NASDAQ finished the week gaining 3%. Housing data was also robust. Pending Home Sales came in at the top end of expectations and showed signs of continued growth into the Spring & Summer. The Case-Shiller Home Price Index was … (3 comments)
Economic News...Both the debt and equity markets clawed their way higher this week. Two words summed up the Existing Home Sales Report: Tight Inventory. Sales did not meet expectations but this was not due to buyer demand. The pricing component was also exceptionally strong. New Home Sales came in slightly under consensus. Weekly Jobless Claims posted a nice number while Consumer Sentiment beat estimates which hopefully points to a nice May. Lastly, Gross Domestic Product, limped in at a disappointing 2.5% compared to the 3.1% forecast.
Mortgage Markets...The weaker than expected GDP number has helped … (0 comments)
Economic News...was light for the week but there was some on the housing sector. The Housing Market Index was lower reflecting weaker conditions in the Northeast and South. The West led the way. Housing Starts were robust with the multi-family component making up the majority of the gains. Now....news on the California Housing Market courtesy of CAR....Home prices have reached the highest level since May of 2008. The median price in March was $333,380 up 13.7% from February which is the largest monthly increase since 1979....which is also when CAR began tracking the figures. Median prices … (3 comments)
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