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?
In 2014, 11 million renters were spending at least half of their income on housing, according to Harvard’s Joint Center for Housing Studies. Another 21.3 million (over 50 percent of renters) were spending 30 percent or more of their income on rent payments. So in an era where rent costs are going up, up, up, how do you decide whether buying a home or continuing to pay the landlord’s mortgage is the right financial choice for you? Here are several things you should factor in when considering the buying vs. renting scenario.
This week’s biggest economic news stories centered on dropping mortgage rates, housing market confidence and the consumer price index.
This week’s biggest economic news stories centered on mortgage rates and job openings and hiring. Mortgage rates experienced their first decline last week after a 9-week climb and fell yet again this week.