According to a report that was recently published by the United States Census Bureau, the average mortgage payment has been dropping. According to the bureau, the average payment is just over $1,500 per month. This is shockingly close to the average cost of renting, which is just under $1,500 per month. This data shows that the average mortgage payment is declining, down by around three percent in the past 18 months. This trend is expected to continue. Some people might be surprised that … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 27th, 2020
Last week’s economic reporting was slim due to the observance of the Martin Luther King Jr. holiday. The National Association of Realtors® reported on sales of previously owned homes and the Veterans Administration announced changes to its home loan programs. Weekly reports on mortgage rates and initial unemployment claims were also released. Sales Pace of Pre-owned Homes Rose 3.60 Percent in December The sales pace of previously-owned homes jumped by 3.60 percent on a … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 13th, 2020
Last week’s economic reports included readings on public and private sector jobs, the national unemployment rate and weekly readings on mortgage rates and new unemployment claims. ADP: Private-Sector Job Growth Eases in December Private-sector jobs increased by 202,000 jobs in December and exceeded expectations. November’s original reading of 60,000 new private-sector jobs was revised to 124,000 jobs. Three and six-month average private-sector job growth rates were 159,000 and … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 6th, 2020
Last week’s economic reports included readings from Case-Schiller Home Price Indices and National Association of Realtors® data on pending home sales. The Conference Board of the U.S. Senate also released its Consumer Confidence Index. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller Reports 0.10 Percent Uptick in National Home Price Index The National Home Price Index issued by Case-Shiller for October reported a … [Read more...]
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