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What’s Ahead For Mortgage Rates This Week – April 25, 2016

April 25, 2016 by Michael Addison

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 third consecutive month. Analysts viewed April's reading as a sign of steady expansion for home building, but builders noted concerns over labor shortages. NAHB Chief Economist Robert Dietz said that … [Read more...]

Filed Under: Mortgage Rates Tagged With: Freddie Mac, Housing Market Index, Mortgage Rates, National Association of REALTORS

Home Builders Remain Confident in January

January 20, 2016 by Michael Addison

Home builders maintained December's confidence level according to the National Association of Home Builders (NAHB) Housing Market Index for January. The latest reading of 60 mirrored December's reading, but was two points lower than expected. Readings of more than 50 indicate that more builders were confident about housing conditions than those who were not. Although January's reading fell shy of October's reading of 65, which was a ten-year high for the home builder index. Any reading in the low 60's suggests gradual improvement in housing market conditions according to NAHB. While December's year-over-year reading for new home sales was 14 percent higher than in December 2014, home … [Read more...]

Filed Under: Market Outlook Tagged With: Housing Market Index, National Association of Home Builders, National Unemployment Rate

What’s Ahead For Mortgage Rates This Week – November 16, 2015

November 16, 2015 by Michael Addison

Last week's scheduled economic news was sparse due to no scheduled releases on Monday and the Veterans Day Holiday on Wednesday. A report on job openings was released on Thursday along with regularly scheduled weekly reports on jobless claims and Freddie Mac's report on mortgage rates. Mortgage Rates, Weekly Jobless Claims Rise Mortgage rates rose last week according to Freddie Mac. The average rate for a 30-year fixed rate mortgage rose to 3.98 percent from last week's reading of 3.87 percent. The average rate for a 15-year fixed rate mortgage rose to 3.20 percent from the prior week's reading of 3.09 percent; the average rate for a 5/1 adjustable rate mortgage was also higher at an average … [Read more...]

Filed Under: Market Outlook Tagged With: Federal Open Market Committee, Freddie Mac, Housing Market Index, Market Outlook, National Association of Home Builders

NAHB: Home Builder Confidence Holds Steady

July 17, 2015 by Michael Addison

Home builder confidence remained steady at the highest reading in almost ten years according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for July. The latest reading of 60 for the index was identical to expectations and June's reading, which was revised to 60 from an initial reading of 59. The NAHB Wells Fargo Housing Market Index is based on readings of zero to 100 with readings over 50 indicating that a majority of home builders surveyed are confident about housing market conditions. July's reading was the 13th consecutive month of readings above 50. July's Housing Market Index Highest Since November 2005NAHB chief economist David Crowe said that … [Read more...]

Filed Under: Market Outlook Tagged With: Housing Market Index, NAHB, National Association of Home Builders

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