Mortgage rates fell across the board last week according to Freddie Mac's Primary Mortgage Market Survey. Other economic news included reports on construction spending, public and private sector employment and national unemployment. Construction Spending Grows in March The Commerce Department reported that the growth rate for construction spending fell in March to 0.30 percent/Analysts expected a reading of 0.70 percent based on February's upwardly revised growth rate of 1.0 percent. … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 25, 2016
Last week's economic releases included Existing Home Sales, Commerce Department Releases on Housing Starts and Building Permits and the National Association of Home Builders/Wells Fargo Housing Market Index. Mortgage rates and new jobless claims were released according to their weekly schedule. Home Builder Confidence Holds Firm in April According to April's National Association of Home Builders/Wells Fargo Housing Market Index, home builder confidence held steady with a reading of 58 for the … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 18, 2016
Last week's scheduled economic releases included reports on retail sales, inflation and the Federal Reserve's Beige Book report. Weekly reports on mortgage rates and new jobless claims were also released. The Consumer Financial Protection Bureau announced a limited program for reducing principal on eligible mortgages held by Fannie Mae and Freddie Mac. This program is intended to resolve remaining "underwater" mortgages on homes worth less than their current mortgage amounts. Retail Sales Fall, … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 11, 2016
Last week's economic news included minutes of the most recent Federal Open Market Committee (FOMC) meeting. Weekly reports on mortgage rates and new jobless claims were also released. FOMC Minutes Indicate Fed Not Pressing Rate Increases Minutes of the FOMC meeting held March 15 and 16 suggest that FOMC members are easing their enthusiasm for raising the target federal funds rate. In recent months, the committee has indicated that it was leaning toward raising rates on a slow but steady pace. … [Read more...]
