Last week’s economic news brought mixed developments as pending home sales moved to their second highest level of 2014. The Federal Open Market Committee (FOMC) announced the expected end of asset purchases under its quantitative easing program.
Case-Shiller 20 City Home Price Index And FOMC QE Update
Home prices rose by 0.20 percent in August. Three of the 20 cities tracked saw home prices drop, while Detroit, Michigan posted the highest price growth. The seasonally adjusted growth rate for cities tracked declined by 0.10 percent as compared to a decline of 0.10 percent in July.
What’s Ahead For Mortgage Rates This Week – October 27, 2014
Last week’s economic news included a few developments connected with housing and mortgage industries. While no economic reports were released on Monday, the rest of the week provided good news for existing home sales, home prices and mortgage rates.
Good News! Existing Home Sales Up And FHFA Home Prices Rise
After months of reports of slowing home price momentum and forecasts of a lagging housing market, we are pleased to report an increase in volume for existing home sales.
What’s Ahead For Mortgage Rates This Week – October 20, 2014
Last week’s economic highlights included the National Association of Home Builders (NAHB) Housing Market Index for October. The Commerce Department also released Housing Starts for September. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage dropped below four percent. The Fed released its Beige Book report, and Weekly jobless claims came in lower than expected.
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