Category: Financial Reports

Hope Of A Stronger Economy With New Measures – Fed Minutes

The Federal Reserve’s Federal Open Market Committee released its customary after-meeting statement on Wednesday. In the context of meeting its dual mandate of stabilizing pricing and achieving maximum employment. The FOMC statement indicated that although the economy has improved in areas including household spending and labor market conditions, the national unemployment rate remains high and …

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What You Should Know About Pending Home Sales This Month

Pending home sales fell in September by -5.60 percent, and were 1.20 percent lower year-over-year. This is the first time in more than two years that pending home sales have fallen below year-earlier readings. September’s reading was below August’s reading of -1.60 percent. The National Association of REALTORS®, which released the report, expects lower home …

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What’s Ahead For Mortgage Rates This Week – 11.04.13

Last week’s economic news came from a variety of sources. Most significant was the Fed’s Federal Open Market Committee statement after its meeting ended Wednesday. The statement indicated that the Fed saw moderate economic growth. FOMC did not taper its purchase of MBS and Treasury securities. The FOMC statement announced the committee’s intention to closely …

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The Government Shutdown And Its Effect On Existing Home Sales

Existing home sales for September fell by 1.90 percent from August’s revised reading of 5.39 million sales to 5.29 million sales. Economists had expected 5.30 million sales for September, so a slow-down in existing home sales had been anticipated. The National Association of REALTORS cited higher home prices and mortgage rates as factors contributing to …

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What’s Ahead For Mortgage Rates This Week 10-28-13

Federal government agencies issued reports that were delayed by the government shutdown; and Freddie Mac reported that average mortgage rates fell for all types of loans it reports. The National Association of REALTORS issued its Existing Home Sales report on Monday. While 5.30 million home sales were expected an annual basis, September’s reading fell short …

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What’s Ahead For Mortgage Rates This Week of 10-21-13

Many of the economic and housing reports typically scheduled were delayed by the federal government shutdown. The National Association of Homebuilders Wells Fargo Housing Market Index for October was released Wednesday with a reading of 55, lower than the projected 58 and previous month’s revised reading of 57. The original reading for September was 58, …

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What’s Ahead For Mortgage Rates This Week – 9.30.13

Last week brought a variety of housing related news. Highlights included the S&P/Case-Shiller Home Price Index for July, which showed a 12.40 percent year-over-year increase in national home prices. This was up from 12.10 percent in June. The FHFA Housing Price Index reading traces home prices on properties securing mortgages owned or backed by Fannie …

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What’s Ahead For Mortgage Rates This Week of September 23, 2013

Last week’s economic news was dominated by the Federal Reserve’s decision not to taper its $85 billion in monthly securities purchases. Fed Chairman Ben Bernanke noted in a scheduled statement after the Federal Open Market Committee meeting that economic conditions were not yet adequately improved to withstand any decrease in the federal quantitative easing program. …

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What’s Ahead For Mortgage Rates This Week – July 15, 2013

The Fed’s release of the minutes for the June FOMC meeting was the most noteworthy economic event last week; the minutes repeated the Fed’s recent statement concerning the wind-down of its current monetary easing policy. The minutes indicated that about half of meeting participants wanted to end the quantitative easing (QE) policy by year end, …

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