Why Mortgage Rates Will Keep Rising — Regardless of What the Fed Does This Week

  • March 14, 2017
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  • realestate

The bond market believes the economy is gaining momentum. Long before Federal Reserve policymakers begin gathering in Washington today to debate what to do with interest rates, mortgage rates throughout the country have been heating up. Borrowing rates on 30-year fixed-rate mortgages have climbed to 4.21%. That’s up from 4.09% in January and 3.54% in

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Oil prices tumble after OPEC report shows Saudi production rising

  • March 14, 2017
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  • realestate

Crude futures reversed direction and turned lower on Tuesday, after a monthly report from the Organization of the Petroleum Exporting Countries showed production out of Saudi Arabia cresting back above 10 million barrels of oil per day.

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Jobless claims climb 15,000 to 258,000

  • March 23, 2017
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  • realestate

The number of Americans who applied for unemployment benefits last week jumped by 15,000 to 258,000 and matched a two-month high, with fresh revisions showing layoffs a bit higher in 2017 than previously reported.

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Fed Meeting – What you need to know in the markets Wednesday

  • March 15, 2017
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  • realestate

Wednesday will be all about the Federal Reserve. At 2:00 p.m. ET on Wednesday, the Federal Open Market Committee will release its latest monetary policy decision, which markets expect will see the central bank take its benchmark interest rate to 0.75%-1% from 0.50%-0.75%. This would be the third interest rate hike from the Fed since

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Fed Meeting – Watch the dots

  • March 15, 2017
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  • realestate

Alongside the Fed’s latest policy statement, markets will also get an updated set of economic projections from the Fed for GDP and inflation, as well as an updated “dot plot,” which shows where Fed officials expect benchmark interest rates to be in the future. Given the hawkish commentary from Fed officials, we think the dots

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Treasury yields head lower for fifth straight day

  • March 23, 2017
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  • realestate

Treasury yields were falling on Thursday for the fifth straight session after government data showed an unexpected rise in first-time jobless claims. Investors are now turning their attention to a looming vote on the Republican bill to repeal and replace Obamacare in the House of Representatives. The latest tallies suggest it doesn’t have the support

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The FOMC meeting already happened?

  • March 15, 2017
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  • realestate

During Chair Yellen’s press conference, we’d expect there to be questions relating to any discussions the Fed has had about economic programs discussed by the Trump administration, notably the $1 trillion infrastructure package Donald Trump touted as recently at February 28. In the past, however, Fed officials have demurred at providing any color around the

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New-home sales roar to a 7-month high 592,000 annual rate in February

  • March 23, 2017
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  • realestate

Sales of newly-constructed homes powered to the highest pace in seven months in February as firm demand for housing outweighs lean supply and slightly higher mortgage rates. New home sales ran at a seasonally-adjusted annual rate of 592,000, the Commerce Department said Thursday. That was 6.1% higher than in January and 12.8% above last February’s

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Empire State index stays strong in March

  • March 15, 2017
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  • realestate

A gauge of New York-area manufacturing remained close to two-year high levels in March, according to data released Wednesday. The Empire State manufacturing survey slipped to 16.4 in March, down only 2.3 points from a two-year high of 18.7 in February, the New York Fed said. Economists had expected a 15.4 reading according to a

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CPI shows smallest inflation gain since the summer

  • March 15, 2017
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  • realestate

American consumers paid slightly more in February for good and services such as groceries and rent, reflecting upward pressure on inflation that’s intensified since last summer. The consumer price index, or cost of living, rose by a seasonally adjusted 0.1% last month, the government said Wednesday. It was the smallest increase since last July. Economists

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