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
    • Loan Limits
    • Loan Programs
    • 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
    • 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 July 31, 2018

What’s Ahead For Mortgage Rates This Week – July 31st, 2018

What's Ahead For Mortgage Rates 07-31-18Last week’s economic readings included reports on sales of new and pre-owned homes, mortgage rates and first-time jobless claims.

New Home Sales Slide; Pre-owned Home Sales Meet Expectations

Commerce Department reported lower sales of new homes in June. Sales were expected to reach 666,000 sales on a seasonally adjusted annual basis, but the actual reading slipped by 5.30 percent to a pace of 631,000 new home sales. Analysts cited higher building costs, home prices and mortgage rates sidelined some buyers.

Concerns over inadequate inventories of available homes also impacted sales of newly-built homes. New homes sold at a rate 6.90 percent higher year-over-year, but analysts cautioned that home price appreciation and demand may be at or near their peak.

The National Association of Realtors® reported an annual pace of 5.38 million sales of previously-owned homes for June, which matched analysts’ expectations. May’s reading was 5.41 million sales of pre-owned homes.

Analysts caution that Commerce Department readings are subject to adjustment due to the relatively small number of home sales used to represent all sales of pre-owned homes.

Mortgage Rates and New Jobless Claims Rise

Freddie Mac reported higher mortgage rates last week with incremental increases in average mortgage rates. Rates for 30-year fixed rate mortgages were two basis points higher at 4.54 percent; rates for 15-year fixed rate mortgages averaged 4.02 percent and were two basis points higher.

Rates for 5/1 adjustable rate mortgages were one basis point higher and averaged 3.87 percent. Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 0.40 percent for 15-year fixed rate and 5/1 adjustable rate mortgages.

First-time jobless claims rose to 217,000 claims filed; this reading fell short of the expected reading of 219,000 new claims but was higher than the 208,000 new claims reported for the prior week.

What‘s Ahead

Next week’s scheduled economic releases include readings from Case-Shiller Home Price Indices and readings on pending home sales and construction spending. Labor reports including public and private sector jobs growth and the national unemployment rate will also be released.

Weekly reports on mortgage rates and new jobless claims will also be published.

 

Spread the Love

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

Equal Housing Lender
Company NMLS #189233

Previous Posts

Categories

Recent Posts

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

3 Tips To Consider When Buying A Home With An FHA Mortgage

S&P Case-Shiller Home Price Indices: Home Prices Fall In November

Is It Worth It to Put More Than 20 Percent Down?

What You Need To Know About A Closed-End Second Mortgage

What’s Ahead For Mortgage Rates This Week – January 30, 2023

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

February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Jan    
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 © 2023 Racheli Mortgage Lending. All rights reserved.   Log In