Racheli Mortgage Lending

Mortgage Lending - (954) 800-0330

  • Home
  • About
    • Meet Racheli your Mortgage Fairy
    • 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
    • Reviews
    • Additional Testimonials
  • Contact
    • Contact – Connect with Racheli Online
    • Ask Racheli
    • Meet Racheli your Mortgage Fairy
    • About-Contact Us
    • Racheli’s List

Racheli Refael April 11, 2016

What’s Ahead For Mortgage Rates This Week – April 11, 2016

What’s Ahead For Mortgage Rates This Week – April 11, 2016Last week’s economic news included minutes of the most recent Federal Open Market Committee (FOMC) meeting. Weekly reports on mortgage rates and new jobless claims were also released.

FOMC Minutes Indicate Fed Not Pressing Rate Increases

Minutes of the FOMC meeting held March 15 and 16 suggest that FOMC members are easing their enthusiasm for raising the target federal funds rate. In recent months, the committee has indicated that it was leaning toward raising rates on a slow but steady pace. Ongoing concerns over changing global economic and financial conditions contributed to FOMC’s decision not to raise the key federal funds rate. Low energy prices continue to cause U.S. inflation to stay below the Fed’s goal of two percent, which suggests that the economy is not recovering as fast as originally expected.

Labor markets continued to improve as the national unemployment rate held steady at 4.90 percent in February. FOMC noted that the labor force participation rate and employment to population ratio increased. The four-week moving average of new jobless claims fell in March after increasing in February. These readings support continued expansion of labor markets.

Housing markets and household spending improved. Committee members characterized developments in labor and housing markets as “broadly consistent” with earlier expectations. Some housing markets connected with energy production weakened. FOMC members elected to maintain the target federal funds rate at a range of 0.25 to 0.50 percent. Global financial and economic developments were cited as contributing to the Committee’s decision not to raise its target rate.

Mortgage Rates, Weekly Jobless Claims Lower

Mortgage rates fell across the board last week. According to Freddie Mac’s weekly survey of mortgage rates, the average rate for a 30-year fixed rate mortgage dropped to 3.59 percent from the previous week’s reading of 3.71 percent. The average rate for a 15-year fixed rate mortgage dropped 10 basis points to 2.88 percent; the average rate for a 5/1 adjustable rate mortgage dropped to 2.82 percent from 2.90 percent. Average discount points held steady at 0.50, 0.40 and 0.50 percent respectively. Last week’s mortgage rates were the lowest in 14 months.

Analysts said this news was positive in the sense that lower rates make mortgages more affordable, but more home buyers entering the market would further increase demand for homes. Low inventories of homes and high demand have fueled higher home prices in many areas.

Weekly jobless claims fell to 267,000 new claims against expectations of 268,000 new claims and the prior week’s reading of 276,000 new jobless claims. New jobless claims remained below the benchmark of 300,000 new claims for the 57th consecutive week.

What’s Ahead This Week

This week’s scheduled economic news releases include retail sales, the Fed’s Beige Book report, the consumer price index and core consumer price index. Weekly jobless claims and Freddie Mac’s mortgage rates report will be released as usual on Thursday.

Spread the Love

Filed Under: Financial Reports Tagged With: Financial Reports, Mortgage Rates, Unemployment

Equal Housing Lender
Company NMLS #189233

Previous Posts

Categories

Recent Posts

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

Case-Shiller: Home Price Growth Slows in April

The Quick and Easy Guide to Understanding the Math Behind Your Mortgage Closing Costs

You Are A Serious Buyer: How To Show It

The Top Things To Know When Refinancing Your Home

What’s Ahead For Mortgage Rates This Week – June 27, 2022

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!

RSS The Latest Real Estate & Lending News

  • Real Estate Consistently Voted Best Investment [INFOGRAPHIC]
  • If You’re Selling Your House This Summer, Hiring a Pro Is Critical
  • Homeownership Could Be in Reach with Down Payment Assistance Programs
  • A Key Opportunity for Homebuyers
  • Two Reasons Why Today’s Housing Market Isn’t a Bubble
July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    
Equal Housing Lender

Archives

Categories

  • Accessibility Statement
  • Privacy Policy

Loans 4 U - Fairway Independent Mortgage Corporation
1471 NE 26th St Suite 100
Fort Lauderdale, FL 33305

Return to top of page

Copyright © 2022 Racheli Mortgage Lending. All rights reserved.   Log In