Home builders maintained December's confidence level according to the National Association of Home Builders (NAHB) Housing Market Index for January. The latest reading of 60 mirrored December's reading, but was two points lower than expected. Readings of more than 50 indicate that more builders were confident about housing conditions than those who were not. Although January's reading fell shy of October's reading of 65, which was a ten-year high for the home builder index. Any reading in the … [Read more...]
What’s Ahead For Mortgage Rates This Week – November 23, 2015
Last week's economic events included reports the National Association of Home Builders Housing Market Index, Housing Starts and the release of minutes for the most recent meeting of the Fed's Federal Open Market Committee. The details: NAHB: Builder Confidence in Housing Markets Dips The National Association of Home Builders reported that builder confidence dropped to a reading of 62 as compared to October's revised reading of 65. Any NAHB reading above 50 indicates that more builders are … [Read more...]
What’s Ahead For Mortgage Rates This Week – November 16, 2015
Last week's scheduled economic news was sparse due to no scheduled releases on Monday and the Veterans Day Holiday on Wednesday. A report on job openings was released on Thursday along with regularly scheduled weekly reports on jobless claims and Freddie Mac's report on mortgage rates. Mortgage Rates, Weekly Jobless Claims Rise Mortgage rates rose last week according to Freddie Mac. The average rate for a 30-year fixed rate mortgage rose to 3.98 percent from last week's reading of 3.87 percent. … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 26, 2015
Last week's economic news included the National Association of Home Builders Index, Housing Starts and FHFA's report on August home sales. The National Association of Realtors® released its monthly report on sales of previously owned homes. Builder Confidence and Housing Starts Post Gains The Wells Fargo National Association of Home Builders Housing Market Index for September posted its highest level of builder confidence in 10 years a higher than expected results with a reading of 64 for … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 20, 2015
Last week's economic news included an encouraging report from the National Association of Home Builders, whose housing market index held steady with a reading of 60 in July. This was the 13th consecutive month for readings over 50, which indicate that more builders are confident about housing markets than those who are not. July's reading was noteworthy as it was the highest since November 2005 prior to the recession. Housing Starts, Building Permits Increase The Commerce Department provided … [Read more...]
