Northwest Mortgage » Blog

Daily Financial Blog: Tuesday – April 26

Tue, 26 Apr 2016 16:38:00 GMT

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 its feet.

The post Daily Financial Blog: Tuesday – April 26 appeared first on Northwest Mortgage .

March New Home Sales Decline

Mon, 25 Apr 2016 16:37:00 GMT

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. Sales were up 5.4 percent, however, from March 2015 to March 2016.

The New Home Sales report shows the number of newly constructed homes with a committed sale during the month.

The post March New Home Sales Decline appeared first on Northwest Mortgage .

Home Prices Post 6.8% Annual Gain

Tue, 05 Apr 2016 16:36:00 GMT

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 and support the 5.2% home price appreciation CoreLogic projected” for this year.

The post Home Prices Post 6.8% Annual Gain appeared first on Northwest Mortgage .

Monday- March 28

Mon, 28 Mar 2016 16:35:00 GMT

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.

The post Monday- March 28 appeared first on Northwest Mortgage .

February Existing Home Sales Slip

Mon, 21 Mar 2016 16:34:00 GMT

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 are up 2.2 percent from February 2015.

Existing Home Sales are completed transactions that include single-family homes, townhomes, condominiums and co-ops.

Lawrence Yun, NAR chief economist said, “The lull in contract signings in January from the large East Coast blizzard, along with the slump in the stock market, may have played a role in February’s lack of closings. However, the main issue continues to be a supply and affordability problem. Finding the right property at an affordable price is burdening many potential buyers.”

The post February Existing Home Sales Slip appeared first on Northwest Mortgage .

Initial Jobless Claims Drop to 5-Month Low

Wed, 16 Mar 2016 16:32:00 GMT

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 post Initial Jobless Claims drop to 5-Month Low appeared first on Northwest Mortgage .

Daily Blog: Friday – March 11

Fri, 11 Mar 2016 16:31:00 GMT

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 MBA spokesperson said low interest rates and fairly mild weather in February were key ingredients to kicking off the spring buying season.

The post Daily Blog: Friday – March 11 appeared first on Northwest Mortgage .

March 10 Daily Financial Blog

Thu, 10 Mar 2016 16:30:00 GMT

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. Last year this time, the rate was 3.86%.

The post March 10 Daily Financial Blog appeared first on Northwest Mortgage .

Home Prices Continue a Steady Rise

Tue, 01 Mar 2016 16:26:00 GMT

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 to January 2017.

The post Home Prices Continue a Steady Rise appeared first on Northwest Mortgage .

January Existing Home Sales Edge Higher

Tue, 23 Feb 2016 16:24:00 GMT

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 the 16.3 percent annual rise in July 2013.

Existing Home Sales is a measure of the selling rate of pre-owned single-family homes.

The post January Existing Home Sales Edge Higher appeared first on Northwest Mortgage .

January Housing Starts Hit a 3-Month Low

Wed, 17 Feb 2016 16:22:00 GMT

The Commerce Department reported that January Housing Starts fell 3.8 percent from December to an annual rate of 1.099 million units. This was lower than the 1.171 million expected and a three-month low. All four major regions across the country saw declines, but a big East Coast snowstorm caused a halt in some late-month construction. January Building Permits, a sign of future construction, hit 1.202 million units, just above the 1.200 million expected. December Building Permits was revised lower to 1.204 million from 1.232 million.

The post January Housing Starts hit a 3-Month Low appeared first on Northwest Mortgage .