fha: What’s Ahead For Mortgage Rates This Week – April 28, 2014
- 04/27/14 11:15 PM
Last week’s economic news supported recent reports that home sales were fewer and home prices increased, but did so at a slower pace. The NAR reported a slower pace of existing home sales, and FHFA reported a slower year-over-year rate of growth for home prices on properties financed by Fannie Mae and Freddie Mac. The U.S. Commerce Department reported that new home sales fell to their lowest level since July 2013. Mortgage rates rose for fixed rate mortgages, but were unchanged for 5/1 adjustable rate mortgages. Here are the details: Existing Home Sales Slow, Moderate Growth In Home Prices March sales … (0 comments)
fha: Mortgage Rates: Float or Lock? 04/26/2014
- 04/25/14 06:37 AM
We will continue to float headed into the weekend, but very carefully as the 4% coupon is near the higher end of the recent short term trading range. Today's candle does show some indecision after the recent rally. As we have been saying, if your rate sheet is favorable and has gotten back to a level where you need to be, take advantage. MARKET WRAP: The 4% coupon traded in a tight range today with little conviction to push prices higher. Today's better than expected Consumer Sentiment had little impact on Bonds. The 4% coupon rose by 12bp to end … (0 comments)
fha: Today's Economics in a Nutshell - 04/25/2014
- 04/25/14 06:34 AM
Consumers views on economic conditions surged in April to its highest reading since July, as reported by the Thomson Reuters/University of Michigan's final reading on Consumer Sentiment. The Index rose to 84.1, above the 82.6 expected. Consumer expectations rose to 74.7 in April from 70.0 in March. A recent study of U.S. manufacturing shows that the sector has grown more competitive with factories in China, Brazil and most of the globe's other major economies. In China, rising energy costs and wages have cut into the edge that China has held on most other manufacturing nations. Labor costs have soared by 187% … (0 comments)
fha: Today's Economics in a Nutshell - 04/24/2014
- 04/24/14 02:06 AM
Americans filing for first time unemployment insurance rose in the latest week as the job market continues to rebound from the low levels seen after the Great Recession. The Labor Department reported that Weekly Initial Jobless Claims rose by 24,000 in the latest week to 329,000 and above the 312,000 expected. It was the highest level in four weeks. The rise could be due in part to a seasonal quirk tied to the Easter holiday. Apple Inc. reported earnings after the close of trading yesterday that easily beat estimates for the latest quarter. The company also announced that it will be … (0 comments)
fha: Home Sales Improve In The Midwest and Northeast Region
- 04/24/14 02:00 AM
March sales of existing homes exceeded expectations at a seasonally adjusted annual rate of 4.59 million sales according to the NAR. Analysts projected that existing home sales would reach 4.55 million based on February’s reading of 4.50 million sales. The pace of existing home sales declined by 0.20 percent as compared to February’s reading. Headwinds Cause Slower Pace Of Home Sales Analysts cited poor winter weather and rapidly rising home prices as factors that kept buyers away, although the Northeast and Midwest regions reported improvements in home sales in March. NAR said that the national average home price increased to $198,500, … (1 comments)
fha: Today's Economics in a Nutshell - 04/23/2014
- 04/22/14 11:40 PM
Housing news was abundant Tuesday as the sector is in the midst of the spring buying season. The National Association of REALTORS® reported today that March Existing Home Sales fell by 0.2% from February to an annual rate of 4.59 million units. Last month's sales volume remained the slowest since July 2012. Higher home prices coupled with low inventories along with harsh winter weather in the beginning of March curbed demand. The median sales price was $198,500, up nearly 8% from the year ago period, while there was a 5.2 month supply of Existing Homes. The Federal Housing Finance Agency (FHFA) … (2 comments)
fha: Refinancing Your Mortgage: Does it Pay Off?
- 04/22/14 11:07 PM
To refinance a mortgage means to pay off your existing loan and replace it with a new one. There are many reasons why homeowners opt to refinance, from obtaining a lower interest rate, to shortening the term of the loan, to switching mortgage loan types, to tapping into home equity. Each has its considerations. Lower Your Mortgage Rate Among the best reasons to refinance is to get access to lower mortgage rates. There is no “rule of thumb” that says how far rates should drop for a refinance to be sensible. Compare your closing costs to your monthly savings, and determine … (1 comments)
fha: Invest In Real Estate Like A Pro With These Quick Tips
- 04/22/14 12:14 AM
Real estate investments are still going strong and will probably continue to be a popular method of financial gain into the future. Real estate is solid. It is a tangible product that is attractive to both beginning investors and experienced pros. The most important part of getting started in real estate investing is knowing what you’re getting into and what to watch out for. Here are 4 top tips from real estate investment professionals: Understand The Realities Real estate investment, like any form of investment, is risky. Do not use money you cannot afford to lose. Careful study, understanding the market, … (2 comments)
fha: Today's Economics in a Nutshell - 04/22/2014
- 04/22/14 12:07 AM
Fannie Mae released its April Economic and Housing Outlook today revealing that the slow growth pattern in the first quarter of 2014 is expected to gain momentum in the second quarter. The increase is expected to come from stepped up government spending and a diminishing drag from a slowdown in inventory stockpiling. Fannie Mae did downgrade their housing forecast slightly due to a lackluster sales picture, but the slowdown could be temporary. A highlight of the 2014 stats: +2.7% growth, +2.8% consumer spending,1.05 million housing starts. A quarterly survey by the National Association for Business Economics (NABE) revealed that the harsh … (1 comments)
fha: What’s Ahead For Mortgage Rates This Week – April 21, 2014
- 04/20/14 11:08 PM
Last week’s economic news supported the general outlook for moderate economic growth. Housing related news included the National Association of Home Builders / Wells Fargo Housing Market Index for April and Housing Starts for March. NAHB: Builder Confidence Holds Steady Amid Concerns The NAHB/Wells Fargo HMI for April ticked upward by one point to a reading of 47 against the March revised reading of 46. Home builders surveyed expressed concerns about high home prices, a lack of available lots for development and a labor shortage. Some desirable markets have been held back due to low inventories of available and/or affordable homes. … (0 comments)
fha: Winning At Auction: Don’t Let Your Dream Home Slip Away
- 04/20/14 08:55 PM
While the traditional method of trawling for sale listings, making bids, and negotiating with the seller has been a popular rite of passage for many home buyers, buying a house at auction is swiftly becoming a favored way to purchase property. Buying a home through auction can be tricky, so it’s best to do your research and keep your cool on auction day, lest you find yourself stuck with a less-than-ideal place to live for a price you didn’t expect to pay. If you’re in the market to buy through auction for the first time, here are some things you need … (0 comments)
fha: 6 Creative Lighting Installations That Will Enhance Your Home
- 04/20/14 02:23 AM
When people purchase their home, one of their common requests is “plenty of light.” And for good reason! This is a critical factor for enjoying your home, and when designing your interior, you should pay special attention to just that: your sources of light. See them not only as a way to brighten up your room, but also as an opportunity to infuse your home with a fashionable design and aesthetic appeal. You’d be surprised at how much lighting can dramatically enhance any given room in your home. Here are our six favorite lighting installations that are bound to give you … (3 comments)
fha: Mortgage Rates: Float or Lock? 04/19/2014
- 04/19/14 03:21 AM
Mortgage Bonds have drifted lower all week and fell hard due to better than expected data. We will continue to lock in the short term, measured by days to a few weeks until Mortgage Bonds can find a bottom.
The average rate for a 30-year conventional fixed mortgage is at 4.27%. To obtain that rate a borrower would have to pay 0.7 in points/fees. That would equate to 4.44%. Happy Easter and Passover. … (0 comments)
fha: Today's Economics in a Nutshell - 04/18/2014
- 04/18/14 12:55 AM
Americans filing for first time unemployment benefits are hovering near seven-year lows as employers are slowing the pace of layoffs. The Labor Department reported that Weekly Initial Jobless Claims came in at 304,000, below the 312,000 that was expected. The 304,000 is up from 302,000 in the prior week, which was the lowest level since September of 2007. The four-week moving average of claims, which irons out seasonal abnormalities, dropped by 4,750 to 312,000. Manufacturing in the Philadelphia region picked up this month and comes after a weak reading from New York State released earlier in the week. The Philly Fed … (1 comments)
fha: Full Selling Price For Your Home: How to Get It
- 04/18/14 12:37 AM
When it comes to selling your home and getting the full selling price you want, there are certain tactics and methods you can employ to ensure that this wish becomes a reality. Avoiding the commonly made mistakes that end up lowering the value of your home and discouraging people from viewing it is ultimately the key in getting top dollar, as well carrying out the showings and sale of your home in a professional manner. Listen to the professionals, and make sure you employ these real estate sale methods to get your desired number on your home sale. Listing Tactic: Adding … (3 comments)
fha: Today's Economics in a Nutshell - 04/17/2014
- 04/16/14 09:49 PM
Not much movement in Mortgage Bond prices Wednesday as they ended near unchanged and traded in an extremely tight range during the session. A not-so-good reading from March Housing Starts and Building Permits were offset by a rise in Stocks prices. The 4% coupon closed just near unchanged at 104.44. Stock prices ended higher on the heels of positive economic data out of China, solid earnings from Yahoo! and after the Fed's Beige Book said that economic activity increased in most regions. The Dow jumped 162.29 points to 16,424,85, the Nasdaq gained 52.06 points to 4,086.22 while the closely watched S&P … (1 comments)
fha: Micro Housing: What is It?
- 04/16/14 09:40 PM
Something that the Europeans have been doing for decades has finally made its way over the Atlantic Ocean to North America: the trend is called micro housing, and it’s turned into an entirely new way of living. With micro housing, we’re beginning to do away with oversize condos and even detached homes, learning to live in a more minimalistic manner and curbing our hoarding habits for good. The affordability of micro housing is making it possible even for young adults and students to purchase their homes in the city centers across North America. But one must ask, is the micro housing … (0 comments)
fha: Today's Economics in a Nutshell - 04/16/2014
- 04/16/14 07:55 AM
The Mortgage Bankers Association reported today that its Market Composite Index, a measure of total loan application volume, rose by 4.3% in the latest week after four straight weekly declines. The refinance index gained 7%, while the purchase index squeaked out a 1% gain. The refinance share of mortgage activity increased to 52% from 51% from one week earlier. The housing sector received news that March Housing Starts rose by nearly 3% to an annual rate of 946,000 units, but below the 955,000 that was expected. The 946,000 is down almost 6% from the March 2013 rate of 1,005,000. Within the … (0 comments)
fha: Today's Economics in a Nutshell - 04/14/2014
- 04/14/14 04:21 AM
Consumers across the nation stepped up spending in March after dismal spending in the beginning of the year, due to the severely harsh winter weather. Retail Sales rose by 1.1% last month, the biggest gain since September 2012, while February's 0.7% rise was revised up from 0.3%. Retail Sales account for 1/3 of consumer spending and consumer spending accounts for about 2/3s of the U.S. economy. Home loan lending declined in the first quarter of 2014 due to rising interest rates and home prices. Total lending came in at about $226 billion, the lowest level since 1997 and less than one-third … (0 comments)
fha: Mortgage Rates This Week – April 14, 2014
- 04/14/14 03:25 AM
While little housing-related news was released, last week’s economic news showed signs of a brighter economic picture. Labor statistics were stronger, with job openings up and new jobless claims filed lower than expected. Mortgage rates fell, and the University of Michigan’s Consumer Sentiment Index was higher than expected. More Jobs Available, Fewer New Jobless Claims The Bureau of Labor Statistics (BLS) reported that February job openings rose to 4.20 million, which exceeded January’s reading of 3.9 million jobs. New jobless claims were lower than expected with 300,000 new jobless claims filed against expectations of 316,000 new jobless claims and the prior … (0 comments)
Last week’s economic news supported recent reports that home sales were fewer and home prices increased, but did so at a slower pace.
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