In this week’s economic view, the Fed made moves on hiking interest rates for the second time in three months, home builders grew even more confident in the new home market, and job openings were in line with their 2-year trend. Mortgage rates continued their climb.
In this week’s economic review, mortgage rates increased, consumer spending jumped in February, and booming job growth boosted the likelihood of Fed rate hike in March.
American homeowners could have saved a combined $5.5 billion by refinancing their mortgages in 2010 and 2012, according to a new study published in the Journal of Financial Economics. Despite historically low mortgage rates, homeowners didn’t make refinancing a top priority, which prompts the question: with mortgage rates rising in 2017, is it too late for you?
In this week’s economic review, mortgage rates declined while the pending home sales index offset the outlook for future existing home sales. Reports released this week also highlighted consumer confidence, as well as confidence in the job market.
In this week’s economic review, new and existing home sales saw opposite results heading into 2017 while home prices in both indexes saw losses. The Fed released minutes from their most recent meeting, which suggested the likelihood of another interest rate hike.
In this week’s economic review, January’s consumer prices hit a stride, retail sales increased and home builder confidence slipped. Mortgage rates eased slightly.
If you’ve been keeping an eye on mortgage rates, you know that while they’re still low, they’re climbing. As refinance activity in the mortgage world has dropped to less than 50 percent, studies are showing that rising rates are removing millions of eligible borrowers from the refinance pool. Don’t miss your chance to lower your rate!
In this week’s economic review, the gap between job openings and hiring narrowed slightly and consumer sentiment and spending eased. Mortgage rates fell minimally while the refinancing share of mortgage activity fell to a 7-year low.
In this week’s economic review, reports featured strength in pending home sales, home prices, consumer confidence, and job growth, as well as the Fed’s as-expected decision to leave rates unchanged.
Home prices rise, home inventory fluctuates, homebuyer demand increases – timing is a big part of homebuying and home financing. If you’ve been paying attention to any economic news, you know that for the last several months, mortgage rates have been climbing from their historical lows. So if you’re planning to purchase a home soon, what does it mean to lock an interest rate and when should you do it?