Homebuilder Sentiment Rises

Construction Loan home

Homebuilder sentiment pushed higher in October as builders rebounded from the initial shock of the hurricanes. The NAHB Housing Market Index rose 4 points in October to 68, above the 64 expected and up from 64 in September. The report showed that the component gauging current sales conditions rose 5 points to 75 and the… [Read More]

Mortgage Rates Edge Higher

rates edge higher

Mortgage rates continued to edge higher in the latest week, as reported by the Mortgage Bankers Association. The 30-year conforming mortgage rate ($424,100 or less) rose to 4.16% from 4.12% with an average point of 0.44. Jumbo 30-year rates also rose from 4.09% to 4.11% with 0.31 points. The 30-year fixed FHA was essentially unchanged… [Read More]

Mortgage Rates Edge Higher

Mortgage rates edged higher in the latest week though still remain just above all-time low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose two basis points to 3.85% this week with an average 0.5 point added on top of the rate. Average commitment rates should be reported along with average fees and points… [Read More]

Homeowners’ Equity Increases

happy-family-w-hands-up-in-front-yard

Freddie Mac released its September Economic & Housing Research Outlook this week revealing that the economic environment remains favorable for the housing and mortgage markets. For several years, Freddie says we have had moderate economic growth of about 2% a year, solid job gains and low mortgage interest rates. Freddie Mac sees those conditions persisting… [Read More]

Mortgage Markets Benefit

Tight inventories of homes for sale continue to fuel higher home prices, reports CoreLogic. The CoreLogic Home Price Insights report showed that prices rose 6.6% from May 2016 to May 2017 and were up 1.2% from April to May. CoreLogic forecasts that home prices will rise by 5.3% from May 2017 to May 2018. “The… [Read More]

Global Yields to Be Watched

stock market

Buyout talks have unraveled for former fashion icon Abercrombie and Fitch, the latest mall fixture plagued by online shopping. The retailer announced 60 store closings in 2017 and shuttered 53 stores last year. Express and American Eagle Outfitters were rumored to be potential buyers. The U.S. Senate is back in session today and trying to… [Read More]