Last week’s scheduled economic news releases were limited as no news was released on Monday or Tuesday, but good news did arrive in the form of a dip in mortgage rates for fixed rate loans. NAR reported higher sales of pre-owned homes and FHFA reported that home price growth associated with mortgages held or backed by Fannie Mae and Freddie Mac held steady in May.
Good News! Existing Home Sales, FHFA Home Prices Increase
Housing markets show continued signs of strengthening according to reports released on Wednesday. The National Association of Realtors® reported that sales of pre-owned homes rose to 5.49 million in June as compared to Mayâs revised reading of 5.32 million pre-owned homes sold and expected sales estimated at 5.42 million sales. Expectations were based on Mayâs original reading of 5.35 million sales. Juneâs reading was the highest since February of 2007. Readings for existing home sales are calculated on a seasonally adjusted annual basis.
What’s Ahead For Mortgage Rates This Week – June 29, 2015
Last week’s economic news was largely positive as both new and existing home sales beat expectations. The Federal Housing Finance Agency reported that home price growth held steady in May, while weekly jobless claims edged up, but were lower than expected.
What’s Ahead For Mortgage Rates This Week – June 1, 2015
Last week’s economic reports included the Case-Shiller Home Price Indexes, FHFA’s House Price Index and Pending Home Sales from the Commerce Department.
Case-Shiller Home Prices: San Francisco, Denver see Double-Digit Increases
San Francisco, California where home prices rose 10.30 percent year over year in March, and Denver, Colorado with an even 10 percent gain in year-over-year home prices led the Case-Shiller 20-City Composite Index for March. Rounding out the top-five cities for year-over-year home price growth were…
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