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What’s Ahead For Mortgage Rates This Week – August 10, 2015

This week’s scheduled economic news includes reports on construction spending, a survey of senior loan officers, and reports on labor markets including ADP private sector jobs, the federal government’s reports on non-farm payrolls, core inflation and the national unemployment rate. Continue reading

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Federal Reserve FOMC Announcement

The stage was set in high suspense for FOMC’s post-meeting announcement on Wednesday. As fall approaches, analysts and the media are looking for any sign of when and how much the Fed will raise its target federal funds rate. According to CNBC, some analysts were projecting two interest rate hikes before year end, but the truth of the matter remains unknown until the Federal Open Market Committee announces its intentions. Continue reading

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What’s Ahead For Mortgage Rates This Week – July 13, 2015

Last week’s scheduled economic events were few due to the Independence Day holiday. Freddie Mac’s weekly survey of mortgage rates brought good news as mortgage rates fell across the board. The Federal Reserve released the minutes of its most recent Federal Open Market Committee (FOMC) meeting and weekly jobless claims rose. Continue reading

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Federal Reserve: No Change on Target Fed Funds Rate

The Federal Open Market Committee (FOMC) of the Federal Reserve did not move to increase the Fed’s target federal funds rate, which is currently 0.00 to 0.250 percent. Although the committee acknowledged further progress toward… Continue reading

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What’s Ahead For Mortgage Rates This Week – May 18, 2015

Last week’s economic reports included data from the Federal Reserve on student loan debt, job openings and retail sales. Weekly jobless claims and Freddie Mac’s survey of average mortgage rates were released as usual on Thursday. A report on consumer sentiment wrapped up the week’s scheduled economic new. Continue reading

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Home Builder Confidence Rises in April

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. Continue reading

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FOMC Minutes: Housing Market Stable But Slow

The minutes of the March meeting of the Fed’s Federal Open Market Committee (FOMC) were released Tuesday and included a staff review of current economic conditions. The minutes noted that while labor markets continued to grow, inflation to the Fed’s target rate of 2.00 percent was impeded by dropping fuel prices. The Committee noted that expectations for longer-term inflation remained stable. Continue reading

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Federal Reserve Discusses Rate Increase – Concerned About Growth

The post-meeting statement of the Federal Reserve’s Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent. Continue reading

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FHFA House Price Index Rises for 14th Consecutive Quarter

According to the Federal Housing Finance Agency (FHFA), U.S. home prices rose by 1.40 percent for the fourth quarter of 2014 and were up by 0.80 percent month-to-month from November. The seasonally adjusted FHFA House Price Index measures purchase transactions for homes connected with mortgages owned by Fannie Mae and Freddie Mac. Continue reading

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Fed Not in a Hurry to Raise Rates: FOMC Meeting Minutes

Federal Open Market Committee policymakers are in no hurry to raise the target federal funds rate. Members said that raising rates too soon could swamp the strengthening economy and expressed concerns that changing the committee’s current “patient” stance on rising rates could cause more harm than good to current economic conditions. Continue reading

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