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Category | Mortgage News

Pending Home Sales Reach Highest Level in One and a Half Years

The NAR’s Pending Home Sales Index (PHSI) is showing yet another sign of strength in the housing market. Recent data is showing that pending sales (home sales with a signed contract but have not closed) reached the highest level in 19 months during November. The index showed that contract signings increased 7.3 percent to 100.1 in November. […]

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Mortgage Outlook for Week of January 30, 2012

Mortgage rates improved yet again last week, yet again hitting and ending near all time historic lows. Last week was marked the FOMC meeting and their announcement that they would be continuing their projection of  “exceptionally low rates” beyond 2013 into 2014. The market reacted and mortgage rates went lower. Events Affecting Mortgage Rates This […]

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Mortgage Rates Move Lower: Understanding the FOMC Statement

The FOMC (Federal Open Market Committee) or sometimes referred to as the “Fed”, concluded its two day meeting today. In a press release,  the FOMC announced it’s thoughts on the state of the economy today and moving forward in addition to its plans for future monetary policy. The equities and bond markets pay close attention to […]

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Mortgage Outlook for the Week of January 23, 2012

Last week mortgage rates again hit all time historic lows. There were also signs of an improvement in housing and the economy as a whole based on some of the Economic data that was released. The markets have opened up this week with mortgage rates close to the all time historic lows of last week. […]

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Weekly Mortgage Updates: Positive News in Housing and Employment

The Commerce Department released December’s Housing Starts data this week. A housing start is the beginning of a new home build (breaking ground). The data showed that new construction starts for single family homes increased 4.4% over November starts. The chart below also provides clarity in the upward trend in housing starts, a good sign […]

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Mortgage Outlook for the Week of January 16, 2012

This week is a shortened week due to the Martin Luther King holiday being observed today. Last week saw the market hit, yet again, all time historic lows on mortgage rates. Every time we think we’ve hit the bottom, mortgage rates set a new low. Not the worst problem to have! There are some important […]

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Weekly Mortgage Wrap Up for January 13, 2012

Once again we’re seeing mortgage rates close near all time historical lows. Again? We may sound like a broken record, but Eurozone debt issues continue to weigh on the markets, pushing mortgage rates lower. This means that there is still an opportunity to refinance or purchase a home with a mortgage that will cost you […]

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Mortgage Outlook for the Week of January 9, 2012

This week is starting off slow with little economic data being released. Two major data releases may impact mortgage rates this week with Beige Book data (relied upon by Fed during their meetings) being released on Wednesday and Retail Sales being released on Thursday. Some Fed members are speaking as well and the market is […]

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Mortgage Outlook for the Week of January 3, 2011

First and foremost, we hope everyone had a safe and happy New Year’s! Here’s to a prosperous 2012! Mortgage rates are starting 2012 near the all time record lows they reach multiple times in 2011. That’s great news for those looking to purchase a new home or looking to refinance their existing mortgage to a […]

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Mortgage Outlook For the Week of December 19, 2011

After hitting all time historical lows last week, mortgage rates have opened up this week flat, with little to no change from last week. We start the week with news of the death of Kim Jong il, which may play a role in the market in the future, but seems to have little affect on […]

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