Economic Update: 10-18-2014

By | General, Real Estate

Economic Update for 10/18/14 DataQuick reported that the number of home sales in California rose for the first time in a year in September, as cooling prices and a strong economy encouraged buyers. The median sales price for new and existing houses and condominiums was $389,000 last month, down 1% from $393,000 in August but… Continued

October 18, 2014

Economic Update: 10-12-2014

By | General, Real Estate

Economic Update for Week Ending October 11, 2014 Mortgage Rates were down for the 3rd straight week. The average rate for a 30-year fixed-rate mortgage fell to 4.12% in the week that ended Oct. 9, hitting the lowest rate in a month and close to the lowest level in 2014, from the prior week’s reading… Continued

October 12, 2014

Economic Update: 10-04-2014

By | General, Real Estate

Economic Update for Week Ending October 4, 2014 Hiring Surge Pushes U.S. Jobless Rate to Six-Year Low. We kicked off October with great jobs news, initial jobless claims that have fallen to pre-recession levels. The September Job report was released today, a powerful surge in hiring pushed unemployment to a six-year low of 5.9 percent… Continued

October 5, 2014

Economic Update: 9-27-2014

By | General, Real Estate

Economic update for the week ending 9/27/2014 Average US rate on 30-year mortgage eases to 4.20 percent; 15-year loan at 3.36 percent. Average long-term U.S. mortgage rates declined slightly this week, after marking their largest one-week gain of the year the previous week. Mortgage company Freddie Mac said Thursday that the nationwide average for a… Continued

September 27, 2014

Economic Update: 9-20-2014

By | General, Real Estate

​Economic Update for the Week Ending September 20, 2014 Average long-term U.S. mortgage rates rose this week, marking their largest one-week gain this year. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan jumped to 4.23% from 4.12% last week. The average for a 15-year mortgage, a popular choice for people… Continued

September 20, 2014

Economic Update: 9-12-2014

By | Real Estate

Economic Update 9/12/14 U.S. retail sales move higher; consumer spirits rise. U.S. retail sales rose broadly in August and consumer sentiment hit a 14-month high in September, supporting expectations for sturdy economic growth in the third quarter. The data on Friday helped ease concerns about soft consumer spending, which had lagged other fairly upbeat economic… Continued

September 15, 2014

Economic Update: 9-5-2014

By | Real Estate

Economic Update 9/5/14 August Job gains slip to 142,000, fewest of 2014. Job reports for August came out this week with some disappointing number. U.S. employers added 142,000 jobs in August as payroll growth slowed significantly after six months of strong gains, the Labor Department said Friday. The unemployment rate, which is calculated from a… Continued

September 6, 2014

Economic Update: 8-29-2014

By | Real Estate

Economic Update week ending 8/29/14 S&P 500 edges up to set new record; best month since February. U.S. stocks closed out a strong month on a quiet note on today, with the S&P 500 posting a modest gain to close at a new record as the latest positive data helped extend a rally that had… Continued

August 30, 2014

Economic Update: 8-22-2014

By | General, Real Estate

Economic Update week ending 8/22/14 The annual Fed conference in Jackson Hole, Wyoming, took place this week. Federal Reserve Chairwoman, Yellen, said the Fed is in no hurry to raise interest rates even as the labor market is improving. Market participants are watching for hints as to when the Fed will reverse an easy-money stance… Continued

August 24, 2014

Economic Update: 8-15-14

By | General

Economic Update Week Ending August 15, 2014 30-YEAR MORTGAGE RATES AT 14-MONTH LOW. At 4.12%, today’s 30-year fixed rate mortgage is cheap. It’s less than half of the 30-year loan’s historical average, and the number of discount points required to get a 30-year loan are few fewer than it was even last decade. For the… Continued

August 22, 2014