Home price gains continued in February, though moderation has been seen in some regions. The Conference Board reported on Tuesday that consumer attitudes towards current economic conditions slipped in April after the gains seen in March. Consumer purchases of long-lasting manufactured goods rose less than expected in March, signaling the sector still continues to drag… [Read More]
A sharp decline in the West sent New Home Sales lower by 1.5 percent in March. Across the country, sales in the East were unchanged while sales rose in the Midwest and South. The Commerce Department reported that March New Home sales fell from February to an annual rate of 511,000, below the 521,000 expected…. [Read More]
CoreLogic reports that home prices, including distressed sales, rose by 6.8 percent from February 2015 to February 2016. Month-over-month prices also were up 1.1 percent from January to February. Frank Nothaft, chief economist for CoreLogic, said the “economic forces” of lower home loan rates and strong job creation will “sustain home prices during the spring… [Read More]
Inflation pressures remained tepid in February as measured by the Core Personal Consumption Expenditures (PCE). Personal Income and Spending were steady in February. February Pending Homes Sales surged 3.5% from January to its highest level in seven months.
After hitting six-month highs in January, February Existing Home Sales slipped by 7.1 percent from the previous month to an annual rate of 5.08 million, below the 5.37 million expected. The National Association of REALTORS® (NAR) said that a low supply of existing homes and steady price growth were the reasons behind the decline. Sales… [Read More]
The Labor Department reported that Americans filing for first-time unemployment benefits fell to a 5-month low, signaling ongoing strength in the job market. Weekly Initial Jobless Claims fell to 259,000, and below the 275,000 expected. Claims have been running below the 300,000 mark for a year, the longest stretch since the early 1970s.
The Mortgage Bankers Association (MBA) reported this week that new home purchases soared 24% in February from January, as would be buyers got a jump on the spring buying season. To break it down, conventional loans composed 67.7% of loan applications, FHA loans composed 18.7%, RHS/USDA loans composed 0.8% and VA loans composed 12.8%. An… [Read More]
Mortgage rates edged higher in the latest week after the Labor Department reported a strong payrolls report for February. The news pushed Bond prices lower, while mortgage rates rose. Mortgage rates are still hovering just above all-time lows. The 30-year fixed conventional mortgage rate rose to 3.68% this week with 0.5 in points and fees…. [Read More]
Home prices, including distressed sales, rose 6.9 percent from January 2015 to January 2016, according to CoreLogic, a leading provider of consumer, financial and property information and analytics. On a month-over-month basis, prices were up 0.5 percent from December 2015 to January 2016. Looking ahead, CoreLogic has forecasted a 5.5 percent increase from January 2016… [Read More]
The National Association of REALTORS® reported on Tuesday that January Existing Homes Sales edged up 0.4 percent from December to an annual rate of 5.47 million units, above the 5.30 million expected. This increase was the highest level since July 2015. In the past year, sales are up 11 percent, the largest year-over-year gain since… [Read More]