What’s Ahead For Mortgage Rates This Week – November 6, 2017

Last week's economic news included readings on Case-Shiller home prices, construction spending, and consumer sentiment. Labor sector readings on private and public employment and the national unemployment rate were also released. Weekly readings on mortgage rates and new jobless claims were also released. Case-Shiller: Home Price Growth Approaches Record Home price growth approached a record set in 2006 in August, but analysts said that affordability and the shortage of homes for sale could Continue Reading

Mortgage 101: How Interest-Only Mortgages Work and Why They’re A Good Solution for Some Buyers

Whether you're a first-time homebuyer or an experienced real estate investor, if you are planning to borrow funds to buy a home you will want to choose the right mortgage product. In today's blog post we'll explore how interest-only mortgages work and why they're the perfect choice for some homebuyers. How Interest-Only Mortgages Differ From Conventional Ones As the name suggests, interest-only mortgages are loans where you are only required to pay off the interest portion of the loan each month Continue Reading

What’s Ahead For Mortgage Rates This Week – October 30, 2017

Last week's economic news included readings on new and pending home sales and weekly reports on mortgage rates and new jobless claims. New Home Sales Exceed Expectations; No Growth for Pending Sales September sales of new homes reached a 10-year high with a seasonally-adjusted annual rate of 667,000 new homes sold. Analysts said that high demand drove September sales past the expected rate of 555,000 sales and August's reading of 561,000 sales of new homes. September's reading was 19.9 percent Continue Reading

What’s Ahead For Mortgage Rates This Week – October 16, 2017

Last week's economic reports included minutes of the Fed's Federal Open Market Committee meeting held in September along with releases on inflation and weekly reports on mortgage rates and new jobless claims. FOMC Meeting Minutes Indicate December Rate Hike is No Sure Thing According to minutes for the September 19 and 20 meeting of the Federal Reserve's Federal Open Market Committee, the Fed has adopted a wait-and-see posture concerning a possible rate hike at December's meeting. Although Continue Reading

What’s Ahead For Mortgage Rates This Week – October 9, 2017

Fixed mortgage rates rose by two basis points last week as the average rate for a 5/1 adjustable rate mortgage dropped by two basis points.  Construction spending returned to positive territory, but job growth dropped in public and private sectors. National unemployment was lower. Construction Spending Rises in August Builders increased construction spending in August after July's reading dipped lower than June's reading. Construction spending rose by 0.50 percent in August, which exceeded Continue Reading