Category Archives for "Market Outlook"
What’s Ahead For Mortgage Rates This Week – September 30th, 2019
Last week’s economic reports included readings from Case-Shiller on home prices along with data on new and pending home sales. Weekly readings on mortgage rates and initial jobless claims were also released.
Continue readingCase-Shiller: July Home Price Growth Hits Lowest Pace in 12 Years
Case-Shiller’s National Home Price Index reported U.S. home prices grew by 3.20 percent year-over-year in July; as compared to year-over-year home price growth 0f 3.00 percent posted in June. Cities with the highest rates of year-over-year home price growth were Phoenix, Arizona with 5.80 percent year-over-year home price growth. Las Vegas, Nevada had 4.70 percent year-over-year home price appreciation and Charlotte, North Caroline bumped Tampa, Florida from the top three cities with home price appreciation of 4.60 percent. Tampa, Florida posted 4.50 percent year-over-year home price growth in July.
Continue readingWhat’s Ahead For Mortgage Rates This Week – September 23rd, 2019
Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department reports on Housing starts and building permits issued and the National Association of Realtors(R) report on sales of previously owned homes.
Continue readingFed Policymakers Cut Key Rate Range by .25 Percent
The Federal Reserve’s Federal Open Market Committee reduced its key short-term interest rate range one-quarter percent to 1.75 to 2.00 percent during it’s September meeting. While FOMC members had mixed opinions on reducing the benchmark rate range for short term loans, the post-meeting statement suggested that reducing the federal funds rate was a hedge against inflation. The federal funds rate impacts short-term consumer loan rates for autos and adjustable rate mortgages, but does not impact fixed mortgage rates. FOMC monetary policy decisions are governed by the Federal Reserve’s dual mandate of maintaining price stability and an inflation rate of 2.00 percent.
Continue readingNAHB: Home Builders Remain Confident
The National Association of Home Builders Housing Market Index shows steady builder confidence in housing market conditions. September’s index reading of 68 was one point higher than August’s reading. Any reading over 50 indicates that most home builders surveyed view housing market conditions as favorable. August’s original index reading was adjusted upward by one point.
Continue readingWhat’s Ahead For Mortgage Rates This Week – September 16th, 2019
Last week’s economic news included readings on inflation, core inflation and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.
Continue readingAnother 5 STAR REVIEW for Angelo Sceppaguercio
Angelo and his team, especially his Client Service Manager Jessica, have been extremely professional, helpful, patient and thorough as we worked together. The handoff between them was seamless and I appreciated the care they took to be in touch with me via emails, phone calls, and even text messages throughout navigating this process. As a […]
Continue readingWhat’s Ahead For Mortgage Rates This Week – September 9th, 2019
Last week’s economic reports included readings on construction spending, public and private-sector jobs and the national unemployment rate. Weekly reports on mortgage rates and first-time jobless claims were also released.
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