Last week’s economic reports provided a mixed bag of results. Investors continue to watch the Fed’s mortgage backed security purchasing trends in order to determine forward mortgage pricing.
What’s Ahead For Mortgage Rates This Week — June 3, 2013
This weekâs financial news was relatively limited due to the Memorial Day holiday and no economic reports being released on Wednesday. The biggest news in terms of housing and mortgages was the S&P/Case-Shiller Housing Market Indices (HMI) released on Tuesday.
Case-Shiller Reports Energetic Annual Home Price Gains Nationally
The most recent S&P/Case-Shiller Indeces report showed all three composites posting double-digit increases over the last four quarters. The national composite, which is the broadest based index, showed an increase of 10.2% annually.
Existing Home Sales Numbers Highest Since 2009
The National Association of REALTORS reported that sales of existing homes in April reached 4.97 million on a seasonally-adjusted annual basis. This is the highest report since November 2009.
Home Builder Future Sales Confidence Rises To New Highs
Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes.
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