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

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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…
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Home Builders Remain Confident in January

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

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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…
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NAHB: Home Builder Confidence Holds Steady

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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…
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What’s Ahead For Mortgage Rates This Week – April 20, 2015

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Last week's economic reports included the NAHB Wells Fargo Housing Market Index, Housing Starts, and Freddie Mac's weekly survey of mortgage rates. Other news included the weekly jobless claims report and consumer sentiment for April. Mortgage Rates, Jobless Claims Rise Mortgage rates moved up according to Freddie Mac. The average rate for a 30-year fixed rate mortgage increased by one basis point to 3.67 percent. The average rate for a 15-year fixed rate mortgage also increased by one basis point to 2.94 percent. The average rate for 5/1 adjustable rate mortgages rose by five basis points to 2.88 percent. Discount…
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Home Builder Confidence Rises in April

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The National Association of Home Builders (NAHB) reported that April's Housing Market Index rose from a reading of 52 in March to 56 for April. This is in line with warmer weather and the peak home buying season in spring and summer. Readings over 50 indicate that more builders view market conditions as positive as those who do not. NAHB members cited lower mortgage rates and better labor market conditions as reasons they expect more home buyers to enter the market. All Components of Builder Confidence Increase The NAHB Home Builder Index is calculated from three components. The reading for…
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What’s Ahead For Mortgage Rates This Week – November 24, 2014

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Last week's scheduled economic news included the NAHB/Wells Fargo Housing Market Index, Housing Starts and Existing Home Sales. FOMC meeting minutes were released along with weekly Freddie Mac mortgage rates and weekly jobless claims. In addition, the National Association of Realtors® suggested that FHA should lower its mutual mortgage insurance premiums (MMI) as its fund for paying claims has normalized since recession. Homebuilder Confidence Nears Nine-Year High The National Association of Home Builders/ Wells Fargo Housing Market Index achieved a reading of 58 for November. This was two points higher than the expected reading of 56 and four points above…
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Case Shiller Price Index Shows Homeowners A Rise In Home Equity

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According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed. The 10 and 20-City Home Price Indices showed year-over-year growth of 13.80 and 13.70 percent respectively. Highlights Include: Dallas, Texas posted its highest rate of annual growth since 2000. Chicago's average home price rose by 11.00 percent, its highest annual gain since December 1988. The 10 and 20-City Indices posted their best November home prices since 2005. Top year-over-year gains in home prices included Las Vegas, Nevada…
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