Racheli Mortgage Lending

Mortgage Lending - (954) 800-0330

  • Home
  • About
    • About Racheli
    • Privacy Policy
    • Blog
  • Mortgage Info
    • Get Pre-Approved
    • Home Search | SOLD Home Alerts
    • How to Buy a Home | The Loan Process and Checklist
    • Credit–What Makes your Credit Score Ebook
    • Mortgages for Self-Employed
    • Mortgages After a Divorce
    • Mortgage Calculators
    • More Calculators
    • How to Buy A Home | Down Payment Assistant
    • Buyer Info
    • How to Buy a Home – Loan Process
    • First Time Home Buyer
    • Mortgage FAQ
    • Mortgage Glossary
    • Loan Programs
    • Credit–What Makes your Credit Score Ebook
    • Seller Info
    • Closing Costs
    • Home Appraisal
    • Fixed Rate Mortgage
  • Real Estate Info
    • Fort Lauderdale Real Estate
    • Boca Raton
    • Miami
    • How to Buy a Home | The Loan Process and Checklist
    • Home Inspection
    • Real Estate News
  • FREE Reports
    • Get Your FREE Reports!
    • 5 Big Mistakes Buyers Make
  • Testimonials
  • Contact
    • Contact
    • Ask Racheli
    • About Racheli
    • About-Contact Us
    • Racheli’s List

Racheli Refael September 8, 2014

What’s Ahead For Mortgage Rates This Week – Sept 8, 2014

Whats Ahead For Mortgage Rates This Week Sept 8 2014Last week’s housing-related economic news was slim, likely due to the Labor Day holiday Monday. On Tuesday, the U.S. Commerce Department reported that construction spending for July increased by 1.80 percent as compared to June’s revised reading of 1.0 percent and expectations of a 1.0 percent increase for July.

The Federal Reserve released its Beige Book report Wednesday; the collection of anecdotes from business contacts within the 12 Federal Reserve districts indicated that the general economy was strengthening as well as labor markets. The Fed noted a shortage of skilled workers. New construction and home sales grew modestly, but the Fed reported that fewer than half of the districts reported growth in real estate activity.

This information appears to be consistent with recent media reports of falling home sales, mortgage originations and demand for homes. Analysts say that mortgage lenders remain wary of loosening mortgage credit standards without protection from having to repurchase faulty mortgages from Fannie Mae and Freddie Mac.

Mortgage Rates Saw Little Change

Freddie Mac reported that average mortgage rates and discount points saw little change last week. The average rates for a 30-year mortgage and a 5/1 adjustable rate mortgage were unchanged at 4.10 percent and 2.97 percent respectively. Discount points were also unchanged at 0.40 percent. The average rate for a 15-year fixed rate mortgage fell by one basis point to 3.24 percent with discount points also lower at 0.50 percent.

Non-Farm Payrolls Add 142,000 Jobs, Unemployment Rate Unchanged

The Bureau of Labor Statistics Reported that 142,000 new jobs were added in August. Analysts had expected 228,000 new jobs added, but many analysts said that the abrupt decline in jobs added was a fluke. A couple of short-term incidents impacted retail and automotive sectors as a supermarket chain cut hours and fewer July layoffs in the automotive sector led to fewer workers called back in August. The unemployment rate remained at 6.10 percent.

Weekly jobless claims rose to 302,000 against expectations of 300,000 new jobless claims and 298,000 new jobless claims in the prior week.

What’s Ahead

This week’s scheduled economic news is also light on housing and mortgage reports. Retail spending, consumer credit, and federal budget data are some of the reports set for release.

Spread the Love

Filed Under: Market Outlook Tagged With: Freddie Mac, Market Outlook, The Federal Reserve

Equal Housing Lender
Company NMLS #189233

Previous Posts

Categories

Recent Posts

Get Pre-Approved Today for a new Home Mortgage with Racheli

7 Inexpensive Upgrades You Can Make To Your Rental Property

What’s Ahead For Mortgage Rates This Week – April 19, 2021

NAHB: Home Builder Confidence Ticks Up in April

It’s Almost Spring Cleaning Time! Kick Clutter To The Curb With These Home Cleaning Tips

3 Easy Ways to Put Aside a Bit of Extra Cash So You Can Pay off Your Mortgage Faster

How Much Home

Connect With Racheli

  • Facebook
  • LinkedIn
  • Twitter
Refer a FriendUse the quick and easy tool below to Refer a Friend today. We sincerely hope you will tell your friends, family, neighbors, and co-workers about our services. You'll be doing them (and us) a favor as they too will receive the same excellent service that you have experienced.

If you know someone who is thinking of buying or selling a home, please fill out the form below, or contact us directly using the number listed at the top of the page.

Click here to refer your friend!
Download Mortgage App

RSS The Latest Real Estate & Lending News

  • 82,338 Great Reasons to Buy a Home Today
  • How Much Time Do You Need To Save for a Down Payment?
  • Home Is Where the Heart Is [INFOGRAPHIC]
  • Why This Is a Great Year to Sell Your Vacation Home
  • 93% of Americans Believe a Home Is a Better Investment Than Stocks

Calculate Mortgage Payments

www.mlcalc.com
April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« Mar    
Equal Housing Lender

Archives

Categories

  • Accessibility Statement
  • Privacy Policy

Loans 4 U - Fairway Independent Mortgage Corporation
200 S Andrews Avenue Suite 500
Fort Lauderdale, FL 33301

Return to top of page

Copyright © 2021 Racheli Mortgage Lending. All rights reserved.   Log In