financial news: What's Ahead For Mortgage Rates This Week - November 18, 2013 - 11/17/13 10:10 PM
What's Ahead For Mortgage Rates This Week - November 18, 2013
 
The Veterans Day holiday on Monday contributed to a quiet week for economic news. On Wednesday the reading for the federal budget deficit for October fell from September's reading of -$120 billion to -$92 billion.
Freddie Mac Released Its Primary Mortgage Market Survey On Thursday
The average mortgage rates increased across the board, but remain below historical levels. The rate for a 30-year fixed rate mortgage rose by 9 basis points from 4.16 percent to 4.35 percent with discount points decreasing from 0.80 percent to 0.70 percent.
The average … (0 comments)

financial news: What’s Ahead For Mortgage Rates This Week – October 7, 2013 - 10/07/13 12:10 AM
What’s Ahead For Mortgage Rates This Week – October 7, 2013
 
This week’s economic news commentary has been dominated by the “what ifs” of a government shutdown; opinions of potential consequences are limited only by the number of commentators sharing their opinions.
Unfortunately, more concrete examples of the shutdown were evident last Tuesday and Friday.
The Department of Commerce delayed release of August’s Construction Spending report that were due last Tuesday and The Bureau of Labor Statistics delayed the release of September’s Non-farm Payroll and Unemployment that were due last Friday.
The ADP Employment report for September posted a reading … (0 comments)

financial news: What's Ahead For Mortgage Rates This Week -- July 29, 2013 - 07/29/13 12:07 AM
What's Ahead For Mortgage Rates This Week -- July 29, 2013
 
Last week brought a mixed bag of economic news, but most notably, average mortgage rates fell.
New home sales surpassed expectations and consumer sentiment rose for July; these readings among others suggest that the economy continued to improve and that consumer confidence in the economy improved as well.
Monday: Existing home sales in June were reported at 5.08 million on a seasonally-adjusted annual basis. While this fell short of expectations of 5.25 million existing homes sold, the expectation was based on the original reading of 5.18 million existing homes sold … (0 comments)

financial news: What's Ahead For Mortgage Rates This Week - July 8, 2013 - 07/07/13 11:51 PM
What's Ahead For Mortgage Rates This Week - July 8, 2013
 
Last week saw a relatively quiet week due to the 4th of July holiday, but there were some housing-related developments:
Monday: The Department of Commerce reported that overall construction spending increased by 0.50 percent in May to a seasonally adjusted annual rate of $874.9 billion. Residential construction grew by 1.20 percent, and May 2012 construction spending was 5.40 percent higher than in May 2012.
More spending in residential construction can indicate builder confidence in housing markets; added construction could help ease low inventories of available homes.
Tuesday: CoreLogic reported that May … (0 comments)

financial news: What's Ahead For Mortgage Rates This Week - June 24, 2013 - 06/24/13 12:08 AM
What's Ahead For Mortgage Rates This Week - June 24, 2013
 
Comments by Fed chairman Ben Bernanke after Wednesday's FOMC meeting caused havoc in financial markets as investors anticipated the potential effects of any rollback of the Fed's policy of quantitative easing (QE). Chairman Bernanke said that the Fed may begin reducing its $85 billion monthly purchase of Treasury securities and MBS toward the end of this year.
The chairman made it clear that any decision concerning QE would be based on careful review of current and developing economic conditions. QE is intended to keep long-term interest rates low; any reduction of … (0 comments)

 
Joe Gonzalez, NMLS# 126036 (610) 739-6563 (CrossCountry Mortgage, LLC NMLS #3029) Rainmaker large

Joe Gonzalez

NMLS# 126036 (610) 739-6563

King of Prussia, PA

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CrossCountry Mortgage, LLC NMLS #3029

Address: 625 W. Ridge Pike, Building C, Suite 100, Conshohocken, PA, 19428

Office: 610.355.8039

Mobile: 610.739.6563

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