Mortgage rates rose last week as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed. Last week's economic news provided further evidence of a strengthening U.S. economy. The National Association of REALTORS® released its Existing Home Sales report, which indicates that existing home sales improved by 13 … Continue reading...
27 Months Of Consecutive Job Growth Helping Home Prices Rise
The Bureau of Labor Statistics (BLS) Non-Farm Payrolls report for December exceeded Wall Street's expectations by 5,000 net new jobs, showing 155,000 positions created in December. The December tally raised the economy's 12-month total to 1.84 million net new jobs created nationwide. Jobs added in December mark the 27th consecutive month of job growth. Job sectors showing the strongest growth to close out 2012 included: Health Care Drinking and Eating Establishments Construction Manufacturing … Continue reading...
What’s Ahead For Mortgage Rates This Week : January 7, 2013
Mortgage rates rose during the first week of 2013. The fiscal cliff crisis was resolved prior to the market's opening Wednesday, when legislators voted to approve a deal. While many tax cuts were extended for taxpayers earning less than $450,000 annually, other facets of the fiscal cliff issue are yet to be addressed, including budget cuts for federal government agencies. Investors were surprised to learn that the Fed may end its third round of quantitative easing (QE3) sometimes in … Continue reading...
What’s Ahead For Mortgage Rates This Week : December 31, 2012
Mortgage bonds improved last week, pushing mortgage rates lower nationwide. Positive economic news and strong housing data was trumped by ongoing Fiscal Cliff discussions on Capitol Hill. The "Fiscal Cliff" is meant to represent January 1, 2013 -- the date on which mandatory spending cuts are enacted by Congress and on which tax rates increases for many U.S. taxpayers. Some analysts believe that if these two events are to occur simultaneously, it would derail the current U.S. economic expansion … Continue reading...