Last week’s economic news was dominated by the Federal Reserve’s decision not to taper its $85 billion in monthly securities purchases.
Home Builder Confidence Has Far Outpaced Actual Home Construction
Home builder confidence was unchanged for September according to the National Association of Home Builders/Wells Fargo Housing Market Index HMI released Tuesday. After four months of rising confidence, September’s HMI reading came in at 58, which was not far from expectations of a reading of 59.
What’s Ahead For Mortgage Rates This Week – September 16, 2013
Last week didn’t feature any housing-related news other than Freddie Mac’s weekly survey of mortgage interest rates. Reports on consumer credit, job openings and weekly jobless claims suggest that without some relief in the jobs market, Americans may be taking a “wait-and-see” stance toward buying homes.
What’s Ahead For Mortgage Rates This Week – September 9, 2013
Last week was relatively calm due to the Labor Day Holiday on Monday little mortgage and housing related news. However, there were several positive indicators for overall economic conditions.
Pending Home Sales Indicates That The Housing Recovery Is Progressing
The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July. According to the organizationâs Pending Home Sales Index, this was the second straight month that pending home sales dropped. Julyâs Pending Home Sales Index reading was 109.50.
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