26
Dec
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – December 26, 2022

Last week’s economic scheduled economic news included readings on sales of previously-owned homes, housing starts,  and building permits issued. Readings on the Consumer Price Index, which tracks inflation, were also released along with weekly readings on mortgage rates and jobless claims. Sales of previously-owned homes fall in November The National Association of Realtors® reported fewer sales of previously-owned homes in November than in October. 4.09 million previously-owned homes were sold year-over-year in November as compared to 4.43 million sales reported in October. This was the tenth consecutive month showing fewer sales of previously-owned homes. Although mortgage rates and home prices…
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22
Dec
By Todd Grey
Financial Reports, ,

NAHB: Home Builder Confidence in Housing Markets Slips in December

December’s National Association of Home Builders Housing Market Index reported slipping builder confidence in U.S. housing markets. The Housing Market Index readings fell every month in 2022. Recently rising mortgage rates, materials costs, and inclement winter weather contributed to builder skepticism about current housing market conditions. December’s National  Housing Market Index reading of 31 was the lowest since mid-2012 not including readings published during the pandemic. By comparison, the Housing Market Index reading for December 2021 was 84. The three indices comprising the Housing Market Index reported mixed readings in December. Current home sales decreased by three points and home…
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19
Dec
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – December 19, 2202

Last week’s economic reporting included readings on inflation, retail sales, and the Federal Reserve’s Federal Open Market Committee meeting.  Fed Chair Jerome  Powell held his scheduled post-meeting press conference and weekly readings on mortgage rates and jobless claims were also released. Federal Reserve Raises Target Interest Rate Range The Federal Reserve’s Federal Open Market Committee announced its decision to raise the Fed’s target interest rate range to 4.25 to 4.50 percent from its previous range of 3.75 to 4.00 percent. Fed Chair Jerome Powell said in remarks made during his scheduled press conference, “We’re going into next year with higher…
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05
Dec
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – December 5, 2022

Last week’s economic news included readings on home prices, inflation, and data on public and private-sector jobs. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Posts Lower Home Prices in September September home prices fell in all cities tracked by Case-Shiller’s 20-City Home Price Index. Home prices were - 8.7 percent lower year-over-year in September than August’s reading of -10.40 percent. Home price declines showed signs of increasing after a period of rapidly rising home prices sidelined would-be home buyers. The Federal Housing Finance Agency Home Price Index rose by 0.90 percent in September as…
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29
Nov
By Todd Grey
Mortgage, ,

How Large Of A Down Payment Do You Truly Need?

If you are interested in purchasing a home, how much money should you put down? This is a difficult question that all potential homeowners need to answer, as it will dictate the size and location of the house you can afford. There are a number of factors to consider, so what do you need to know? Generally, Putting More Down Is Better There is a solid chance that a home loan is going to be the largest loan you will ever take out in your life. Therefore, there is some risk involved, and you must make sure you can pay…
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