Housing markets show continued strength as the National Association of Realtors® reported that sales of existing homes reached their second highest level since February 2007. Sales of pre-owned homes increased by 4.70 percent and reached 5.55 million sales on a seasonally adjusted annual basis against analyst expectations of 5.34 million sales and August's reading of 5.30 million sales of previously owned homes. August's reading for existing home sales was revised downward from 5.31 million … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 19, 2015
Last week's economic reports included Consumer Price Index and Core index for September, the minutes of the FOMC meeting held September 15 and 17, and weekly reports on mortgage rates and new jobless claims. The details: FOMC Minutes Hint at Looming Rate Hike as Inflation Lags Minutes of the Federal Open Market Committee meeting held in September suggest that while Fed policy makers have reservations about low inflation and labor markets, they may go ahead and raise the target federal funds rate … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 13, 2015
Last week's economic reports included the Federal Open Market Committee Meeting Minutes and Weekly Jobless Claims. Also, the new mortgage TRID rules went into effect. Here are the details: TRID (TILA-RESPA Integrated Disclosure) Goes Into Effect TRID, or TILA-RESPA Integrated Disclosure, which is also known as the "Know Before You Owe" rule will change the mortgage process by altering some standard loan forms and practices. Originally slated to go into effect August 1, the Consumer Financial … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 05, 2015
Last week's economic reports included Pending Home Sales, Construction Spending and several reports on jobs and employment. The details:Pending Home Sales Down as Home Prices RisePending home sales dipped in August, which is consistent with the waning spring and summer peak sales period for homes. Pending home sales were down by -1.40 percent as compared to July's gain of 0.50 percent. Pending home sales indicate future closings and mortgage loan volume.Home prices rose in July according to the … [Read more...]
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