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What’s Ahead For Mortgage Rates This Week – October 28, 2013

October 28, 2013 by Kim Abbott Leave a Comment

Federal government agencies issued reports that were delayed by the government shutdown; and Freddie Mac reported that average mortgage rates fell for all types of loans it reports. The National Association of REALTORS issued its Existing Home Sales report on Monday. While 5.30 million home sales were expected an annual basis, September's reading fell short at 5.29 million sales. August's reading was adjusted from an original reading of 5.48 million, which equaled July's reading. Higher mortgage rates and home prices were cited as contributing to the slip in September's sales. The Bureau of … [Read more...]

Filed Under: Housing Analysis Tagged With: Housing Analysis,Mortgage Rates,Housing Market

The Government Shutdown And Its Effect On Existing Home Sales

October 22, 2013 by Kim Abbott Leave a Comment

Existing home sales for September fell by 1.90 percent from August's revised reading of 5.39 million sales to 5.29 million sales. Economists had expected 5.30 million sales for September, so a slow-down in existing home sales had been anticipated. The National Association of REALTORS cited higher home prices and mortgage rates as factors contributing to fewer sales of previously owned homes. Home Prices Easily Outpaced Income Growth According to Lawrence Yun, NAR's chief economist, home prices "easily outpaced income growth." Consequently, affordability has fallen to a five-year low. … [Read more...]

Filed Under: Housing Analysis Tagged With: Housing Analysis,Mortgage Rates,Housing Market

What’s Ahead For Mortgage Rates This Week — September 23, 2013

September 23, 2013 by Kim Abbott Leave a Comment

Last week's economic news was dominated by the Federal Reserve's decision not to taper its $85 billion in monthly securities purchases. Fed Chairman Ben Bernanke noted in a scheduled statement after the Federal Open Market Committee meeting that economic conditions were not yet adequately improved to withstand any decrease in the federal quantitative easing program. The Fed also reaffirmed that the target federal funds rate would remain at 0.00 to 0.25 percent until the national unemployment rate reached 6.50 percent and inflation reaches 2.00 percent. The national unemployment rate was 7.30 … [Read more...]

Filed Under: Housing Analysis Tagged With: Housing Analysis,Mortgage Rates,Housing Market

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