Home → Blog
Latest

Mortgage rates surge as latest ‘taper tantrum’ takes a bite

  • July 6, 2017
  • no comment
  • realestate

The 30-year fixed-rate mortgage averaged 3.96% in the July 6 week, up eight basis points during the week. The 15-year fixed-rate mortgage averaged 3.22%, up from 3.17% last week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.21%, up four basis points. Those rates don’t include fees associated with obtaining mortgage loans.

READ MORE

Service sector accelerates in June, ISM survey finds

  • July 6, 2017
  • no comment
  • realestate

The Institute for Supply Management’s nonmanufacturing index rose to 57.4% in June from 56.9% in May, topping the economist consensus for a reading of 56.5%.

READ MORE

Fed might start balance-sheet drawdown in September, FOMC minutes hint

  • July 5, 2017
  • no comment
  • realestate

The Federal Reserve could trigger a long-awaited move to reduce its massive $4.5 trillion in debt holdings by September, a summary of the central bank’s last meeting suggest.

READ MORE

Home-price growth sizzles in May, driving a wedge in the market

  • July 5, 2017
  • no comment
  • realestate

Nationally, prices rose 6.6% compared to a year ago, according to a home price index released Wednesday from data provider Core Logic. Prices rose 1.2% from April to May, the company also said. While that’s helping current owners, “for renters and potential first-time home buyers, it is not such a pretty picture

READ MORE

Home-price growth sizzles in May, driving a wedge in the market

  • July 5, 2017
  • no comment
  • realestate

Nationally, prices rose 6.6% compared to a year ago, according to a home price index released Wednesday from data provider CoreLogic. Prices rose 1.2% from April to May, the company also said. While that’s helping current owners, “for renters and potential first-time homebuyers, it is not such a pretty picture.

READ MORE

Fed might start balance-sheet drawdown in September, FOMC minutes hint

  • July 5, 2017
  • no comment
  • realestate

The Federal Reserve could trigger a long-awaited move to reduce its massive $4.5 trillion in debt holdings by September, a summary of the central bank’s last meeting suggest.

READ MORE

Treasury yields fall ahead of ISM manufacturing survey data

  • July 3, 2017
  • no comment
  • realestate

June ISM Manufacturing 57.8 vs. estimates of 55.2. Treasury yields ticked lower, but market activity was muted overall, as the July 4th weekend left trading desks lightly staffed. The Securities Industry and Financial Markets Association recommends bond markets to close early at 2 PM Eastern on Monday.

READ MORE

Treasury yields fall ahead of ISM manufacturing survey data

  • July 3, 2017
  • no comment
  • realestate

June ISM Manufacturing 57.8 vs. estimates of 55.2. Treasury yields ticked lower, but market activity was muted overall, as the July 4th weekend left trading desks lightly staffed. The Securities Industry and Financial Markets Association recommends bond markets to close early at 2 PM Eastern on Monday.

READ MORE

Consumer spending is weak in May, but so is inflation

  • June 30, 2017
  • no comment
  • realestate

Americans barely increased spending in May and choose to save more money instead even as decelerating inflation gave them more bang for the buck. Consumer spending rose 0.1% last month after back-to-back 0.4% gains in April and March, the Commerce Department reported Friday. That matched the Market watch forecast of economists.

READ MORE

More on the Feds favorite gauge of inflation

  • June 30, 2017
  • no comment
  • realestate

The meager increase in spending took place against a backdrop of slowing inflation. The PCE index, the Federal Reserve’s preferred inflation gauge, fell 0.1% to mark the second decline in three months. What’s more, the 12-month rate of inflation tapered off to 1.4% in May from 1.7% in the prior month and a five-year high

READ MORE

Subscribe to Newsletter

Get weekly updates on mortgage rates, finance, lending and real estate.