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: 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

Economic Update: 8-8-14

By | General

Economic Update for the week ending August 8, 2014 Mortgage rates continue to hover near yearly lows. Mortgage rates showed little movement once again this week, continuing to hover near yearly lows, according to the latest data released Thursday by Freddie Mac. The 30-year fixed-rate average bumped up to 4.14 percent with an average 0.7… Continued

August 9, 2014

Economic Update: July 19, 2014

By | General

Week End economic update July 19, 2014 Interest rates dropped slightly this week to the lowest levels in over one year as demand for mortgage securities increased. This demand comes from investors feeling that mortgage securities may not return a high yield, but are considered very safe. Mortgages initiated in the past few years have… Continued

July 19, 2014

Economic Update: July 11, 2014

By | General

Economic Update July 11, 2014 Interest rates dropped this week as did stocks after economic indicators in Europe and Asia showed slowing in their economies. The Freddie Mac Weekly Primary Mortgage Market Survey showed that the 30-year-fixed rate was 4.15%. The 15-year-fixed rate was 3.24%. A year ago the 30-year fixed was at 4.51% and… Continued

July 12, 2014