real estate update: FED RAISES RATES FOR THIRD TIME IN 2017 - 12/14/17 05:26 AM
The FOMC increased the federal funds rate to 1.50% from 1.25%, no surprise with everyone expecting it. Two Fed FOMC members voted against the increase; Evans of Chicago and Kashkari of Minneapolis. Interpreting the statement market’s initial reaction was that the Fed will move three times in 2018 as was widely believed; a word of caution, however, it isn’t a sure thing yet and is dependent on economic improvement and some belief inflation is moving up. Nevertheless, that is the consensus momentarily. Bank Prime rate now 4.50% now.
FOMC points:
Household spending has been expanding at a moderate rate, On a 12-month basis, … (1 comments)

real estate update: THREE THINGS THAT CAN MOVE MORTGAGE RATES THIS WEEK - 12/12/17 02:29 PM
Three Things: These three areas have the greatest ability to impact mortgage rates this week: 1) Fed 2) Tax Reform and 3) Domestic.
1) Fed: Our Federal Reserve Open Market Committee (FOMC) begins two days of meetings on Tuesday and will culminate Wednesday afternoon with their policy statement and interest rate decision. But they will also release their revised economic projections (famous dot-plot chart) and will be followed up with a live press conference with Janet Yellen. While all markets widely expect a 1/4 point rate hike, the bond markets will be focusing on their future rate hike projections (dot plot chart) to see … (0 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – June 6, 2016 - 06/14/16 07:42 PM
Last week’s housing related news was limited to Construction Spending and Freddie Mac’s mortgage rates survey, but labor reports suggested an economic slowdown may be in the works.
Construction Spending Slips in April, Mortgage Rates Mixed
According to the Commerce Department, overall construction spending slipped in April to -1.80 percent as compared to March’s reading of +1.50 percent and May’s expected reading of +0.70 percent. Residential construction spending was 1.50 percent lower, which doesn’t help ongoing shortages of available single-family homes. Builders have repeatedly cited labor shortages and lack of developed lots as obstacles to building more homes. Year-over-year construction spending was 4.50 … (1 comments)

real estate update: What's Ahead For Mortgage Rates This Week - June 6, 2016 - 06/07/16 03:53 PM
Last week’s housing related news was limited to Construction Spending and Freddie Mac’s mortgage rates survey, but labor reports suggested an economic slowdown may be in the works. Construction Spending Slips in April, Mortgage Rates Mixed According to the Commerce Department, overall construction spending slipped in April to -1.80 percent as compared to March’s reading of +1.50 percent and May’s expected reading of +0.70 percent. Residential construction spending was 1.50 percent lower, which doesn’t help ongoing shortages of available single-family homes. Builders have repeatedly cited labor shortages and lack of developed lots as obstacles to building more homes. Year-over-year construction spending … (1 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – May 9, 2016 - 05/11/16 03:33 AM
Closing Paperwork: How to Read and Understand the Truth-in-Lending Disclosure Statement
Mortgage rates fell across the board last week according to Freddie Mac’s Primary Mortgage Market Survey. Other economic news included reports on construction spending, public and private sector employment and national unemployment.
Construction Spending Grows in March
The Commerce Department reported that the growth rate for construction spending fell in March to 0.30 percent/Analysts expected a reading of 0.70 percent based on February’s upwardly revised growth rate of 1.0 percent. Construction spending was propelled by a 1.50 percent increase in residential construction spending; this is good news for would-be home buyers who’ve been … (1 comments)

real estate update: Existing Home Sales Jump, Builder Confidence Holds Steady - 04/23/16 04:35 AM
Home buyers kicked the spring home shopping season into gear and boosted sales of pre-owned homes in March. Existing home sales rose 5.10 percent in March according to the National Association of Realtors®. 5.33 million pre-owned homes were sold in March against expectations of 5.30 million sales and February’s reading of 5.07 million sales on a seasonally adjusted annual basis. Continue here: Existing Home Sales Jump, Builder Confidence Holds Steady
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real estate update: What's Ahead For Mortgage Rates This Week - April 18, 2016 - 04/18/16 02:39 AM
Last week’s scheduled economic releases included reports on retail sales, inflation and the Federal Reserve’s Beige Book report. Weekly reports on mortgage rates and new jobless claims were also released. The Consumer Financial Protection Bureau announced a limited program for reducing principal on eligible mortgages held by Fannie Mae and Freddie Mac. This program is intended to resolve remaining “underwater” mortgages on homes worth less than their current mortgage amounts.
Retail Sales Fall, Inflation Rises
Retail sales fell in March to close out a weaker than expected first quarter 2016. Retail sales fell 0.30 percent in March as compared to expectations of a … (0 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – April 11, 2016 - 04/11/16 01:10 AM
Last week’s economic news included minutes of the most recent Federal Open Market Committee (FOMC) meeting. Weekly reports on mortgage rates and new jobless claims were also released.
FOMC Minutes Indicate Fed Not Pressing Rate Increases
Minutes of the FOMC meeting held March 15 and 16 suggest that FOMC members are easing their enthusiasm for raising the target federal funds rate. In recent months, the committee has indicated that it was leaning toward raising rates on a slow but steady pace. Ongoing concerns over changing global economic and financial conditions contributed to FOMC’s decision not to raise the key federal funds rate. Low … (2 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – April 4, 2016 - 04/04/16 06:57 PM
Last week’s economic calendar was full of new releases including pending home sales, Case-Shiller Home Price Indices and construction spending. Labor related reports including ADP payrolls, federal Non-farm payrolls, and the national unemployment rate were also released along with reports on consumer confidence and weekly reports on mortgage rates and new unemployment claims.
Case-Shiller: January Home Prices Up 5.7% Year-Over-Year
According to the S&P Case-Shiller 20-City Home Price Index for January, home prices increased by 5.70 percent year-over-year. The West led price increases with double-digit price gains posted for San Francisco, California, Portland, Oregon and Seattle, Washington. Denver, Colorado also posted a double-digit … (0 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – March 28, 2016 - 03/28/16 04:39 PM
Increasing Home Prices Good For Sellers
The National Association of Realtors (NAR) reported lower sales of pre-owned homes in February. Would-be buyers were discouraged by rapidly rising home prices. Short supplies of available homes sidelined potential buyers as higher home prices and cash buyers squeeze out buyers who need mortgages to buy homes. Multiple offers resulting in bidding wars have also deterred buyers in high demand markets. According to NAR’s February report, sales of existing homes fell 7.10 percent to their lowest level since November. Continue here: What’s Ahead For Mortgage Rates This Week – March 28, 2016
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real estate update: What’s Ahead For Mortgage Rates This Week – March 21, 2016 - 03/21/16 04:51 AM
Housing Starts Up in February
Shortages of available homes are a major factor in rising home prices; shortages also make it more difficult for buyers to find homes they want. Housing starts in February rose, which is good news for the peak spring and summer home buying season. Other housing related news released last week included the Fed’s decision not to raise the target federal funds rate and Housing Starts and Building Permits reports issued by the Commerce Department. Consumer Sentiment was also released along with regularly scheduled releases on mortgage rates and weekly unemployment claims. Continue here: What’s Ahead For Mortgage Rates … (2 comments)

real estate update: What's Ahead For Mortgage Rates This Week - March 14, 2016 - 03/14/16 06:34 PM
Last week’s economic news included Fannie Mae’s Home Purchase Sentiment Index along with weekly reports on mortgage rates and new jobless claims. The City of Detroit also announced a program to help would-be buyers purchase homes that do not qualify for mortgage loans due to severe damage. Fannie Mae: Home Buyer Sentiment Index Rises Fannie Mae’s Home Buyer Sentiment Index (HBSI) gained 1.20 percent for an overall reading of 82.70 percent for February. The index reading is calculated using responses to several questions contained in Fannie Mae’s National Housing Survey. HBSI components include consumer responses to questions about whether it’s a … (1 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – March 7, 2016 - 03/07/16 04:09 PM
Week in Review
Last week’s scheduled economic news included reports on pending home sales, construction spending and several jobs related readings including ADP Payrolls, the government’s Non-Farm Payrolls and the national unemployment rate.
Mortgage Rates, Weekly Unemployment Claims Rise
Mortgage rates rose across the board according to Freddie Mac’s weekly report. The average rate for a 30-year fixed rate mortgage rose two basis points to 3.64 percent; the average rate for a 15-year fixed rate mortgage rose by one basis point to 2.94 percent and the average rate for a 5/1 adjustable rate mortgage rose five basis points to 2.84 percent. Discount points were … (6 comments)

real estate update: December Home Prices Rise According To S&P Case-Shiller Home Price Index - 02/25/16 03:12 PM
Home prices rose slightly in December according to S&P Case-Shiller Home Price Indices released Tuesday. According to the S&P Case-Shiller 20-City Home Price Index, which covers cities representing all nine US Census divisions, home prices rose 5.40 percent year-over-year in December as compared to November’s reading of 5.20 percent.
December’s year-over-year home price increases were led by Portland Oregon at 11.40 percent, San Francisco, California at 10.30 percent and Denver, Colorado with a year-over-year reading of 10.20 percent. 10 cities reported higher home prices while eight cities reported lower home prices and year-over-year home prices were unchanged for two cities. Continue here: December … (2 comments)

real estate update: What's Ahead For Mortgage Rates This Week - February 22, 2016 - 02/22/16 04:53 PM
Last week’s economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits and minutes of the most recent meeting of the Fed’s FOMC meeting.
Home Builder Confidence Falls in February
According to the National Association of Home Builders (NAHB), home builders had less confidence in market conditions for newly built homes. The reading for February was three points lower at 58 than the upwardly adjusted reading for January. Analysts had expected a reading of 59; any reading over 50 indicates that more builders are confident about conditions than those who are not. Continue here: What's Ahead For … (0 comments)

real estate update: Home Constructions As A Solution To Pent Up Demand For Homes - 02/17/16 03:44 PM
Builder confidence in markets for new homes fell three points in February to a reading of 58. January’s reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions.
David Crowe, National Association of Home Builder’s (NAHB) chief economist, said that builders are watching slowing economic trends, but also cited low mortgage rates, improving labor markets and pent-up demand for homes as factors for strong U.S. housing markets. The NAHB notes that any reading over 50 indicates that more builders were confident than those who were … (0 comments)

real estate update: What’s Ahead For Mortgage Rates This Week – February 16, 2016 - 02/16/16 01:45 PM
Last week’s economic events included weekly releases on new jobless claims, mortgage rates and testimony by Fed Chair Janet Yellen concerning the Federal Reserve’s monetary policy. Here are the details:
Mortgage Rates, New Jobless Claims Drop
Freddie Mac reported that average mortgage rates fell across the board last Thursday, with the rate for a 30-year fixed rate mortgage seven basis points lower at 3.65 percent. The average rate for a 15-year fixed rate mortgage was six basis points lower at 2.95 percent, and the average rate for a 5/1 adjustable rate mortgage was two basis points lower at 2.83 percent. Discount points averaged … (1 comments)

real estate update: Whats Ahead For Mortgage Rates This Week Feburary 8 2016 - 02/08/16 09:27 PM
Last week’s scheduled economic news included reports on construction spending and several labor-related reports along with weekly reports on mortgage rates and new jobless claims. The details: Construction Spending Higher in December U.S. construction spending rose by 0.10 percent in December for a seasonally adjusted annual total of $1.12 trillion. The Commerce Department reported that construction firms spent 10.5 percent more than in 2014.Residential construction spending totaled $416.8 billion for 2015, which was 12.60 percent higher than in 2015. Contnue here: Whats Ahead For Mortgage Rates This Week Feburary 8 2016
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real estate update: Whats Ahead For Mortgage Rates This Week Feburary 1 2016 - 02/01/16 03:55 PM
Last week’s economic events included S&P Case-Shiller’s home price indexes, reports on new and pending home sales and the Fed’s FOMC statement. The details:
Case-Shiller Reports Fast Paced Home Price Growth
According to S&P Case-Shiller Home Price Indexes, U.S. home prices grew at their fastest pace in 16 months in November. Portland, Oregon led the charge with home prices increasing 11.10 percent year-over-year followed by San Francisco, California at 11.0 percent; Denver, Colorado posted a year-over-year gain of 10.90 percent. 14 cities posted home price gains while four cities posted declines in home prices and two cities posted no change on a month-to-month … (0 comments)

real estate update: FOMC Statement Fed Holds Steady on Rates - 01/29/16 08:14 PM
According to statement issued at the conclusion of today’s Federal Open Market Committee meeting, committee members decided against raising the target federal funds rate. Mixed economic conditions, slower economic growth in the 4th quarter and low inflation contributed to the decision against raising rates. The target federal funds rate was raised in December to a range of 0.25 to 1.59 percent after remaining at 0.00 to 0.25 percent for several years. While rising fed rates were expected to cause a hike in mortgage rates, mortgage rates fell after December’s rate hike. Continue here: FOMC Statement Fed Holds Steady on Rates
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Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974 (Chris Brown | Certified Mortgage Planners)

Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner

Chris Brown 407.367.2974

Orlando, FL

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Chris Brown | Certified Mortgage Planners

Address: 1331 S International Parkway , Suite 2251, Lake Mary, FL, 32746

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