Category: Financial Reports

How Can I Get A Cash-Out Refinance Using An FHA Loan?

While homeowners typically equate the FHA loan program with low-down payment mortgages, FHA refinances are also available. In addition to easy-to-source rate-and-term and streamline refinances that replace an existing FHA mortgage with a better one, the FHA even offers cash-out refinance loans. A cash-out FHA loan refinance allows the borrower to take out up to …

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Case Shiller Price Index Shows That It’s A Buyers Market

Two major indicators of home price trends showed a slowing momentum for home prices in December. The S&P Case Shiller 10 and 20 city indices reported that of 20 cities tracked, home prices were lower in December than for November. Case-Shiller’s seasonally adjusted month-to month reading showed that home prices rose by 0.8 percent as …

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Existing Home Sales Lowest Since 2012

Sales of existing homes fell by 5.10 percent in January according to the National Association of REALTORS. Pre-owned home sales slowed to a seasonally-adjusted annual rate of 4.62 million homes against an expected reading of 4.65 million and December’s reading of 4.87 million existing homes sold. Rising home prices are reducing the number of affordable …

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What’s Ahead For Mortgage Rates This Week – 03-03-14

Last week’s economic news was mixed, with new home sales increasing and weekly jobless claims higher than expected. Case-Shiller and FHFA home price reports reflected slower growth in home prices. Mortgage rates moved higher for the third consecutive week. Weakness in the jobs sector and harsh winter weather were seen as factors contributing to economic …

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What’s Ahead For Mortgage Rates This Week 02-24-2014

Last week’s economic data supported recent reports indicating that housing markets are slowing, The National Association of Home builders/Wells Fargo Home Builders Index (HBI) dropped by 10 points to a reading of 46 for February. Home builder confidence dropped to its lowest reading in nine months, and fell below the benchmark of 50, which indicates …

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FOMC Statement Shows Tapering Of Quantitative Easing Purchases

According to a statement provided by the Federal Open Market Committee of the Federal Reserve, the committee has approved another reduction of the Fed’s monthly asset purchases. The adjustment will be made in February and cuts monthly purchases of mortgage backed securities from $35 billion to $30 billion and monthly purchases of Treasury securities from …

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What’s Ahead For Mortgage Rates This Week 02-10-2014

Residential Construction Spending Up Last week’s mortgage and housing-related reports began with Construction Spending for December, with a reading of 0.10 percent or a seasonally adjusted $930.5 billion. December’s reading fell short of an expected increase of 0.40 percent. Spending for private sector projects rose by 1.00 percent; of this amount, residential construction spending increased …

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Case Shiller Price Index Shows Homeowners A Rise In Home Equity

According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed. The 10 and 20-City Home Price Indices showed year-over-year growth of 13.80 and 13.70 percent respectively. Highlights Include: Dallas, Texas posted its …

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What’s Ahead For Mortgage Rates This Week – 02-03-2014

Last week brought mixed news; while the Department of Commerce reported a dip in new home sales, mortgage rates also fell. The Federal Reserve’s FOMC statement revealed that quantitative easing would be further reduced by an additional $10 billion monthly. New Home Sales: Y-O-Y Reading Best Since 2008 December’s reading of 414,000 for new home …

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What’s Ahead For Mortgage Rates This Week – 01.20.2014

Welcome news arrived last week as lower mortgage rates and a higher number of housing starts were reported. Other economic news was mixed: The Federal Reserve released its Beige Book Report released last Tuesday indicated modest economic growth throughout the 12 Federal Reserve districts. Analysts predicted that this would cause the Fed to further reduce …

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