Monthly Archives: July 2012

Mortgage Rates for the week of: July 30, 2012

Mortgage markets booked major losses last week after European leaders spoke of their determination to preserve the European Union. Mortgage rates jumped Thursday and Friday as investors sold positions of relative safety, including bonds, and moved their money into stock markets. Mortgage rates closed the week at a 14-day high and, if not for last […]

Posted in Mortgage Interest Rates | Leave a comment

Mortgage Rates for the week of: July 23, 2012

Mortgage markets improved last week on expectations for new Federal Reserve stimulus, plus ongoing concerns about the European Union’s future. Mortgage-backed bonds climbed to new all-time highs, which helped conforming mortgage rates drop to new all-time lows. The average 30-year fixed-rate mortgage rate is now 3.53% nationwide, according to government mortgage-backer Freddie Mac’s weekly mortgage […]

Posted in Mortgage Interest Rates | Leave a comment

Singe-Family Housing Starts Rise For 4th Straight Month

New construction housing is in a post-recession rally. As reported by the Census Bureau, on a seasonally-adjusted, annualized basis, last month’s Single-Family Housing Starts rose 5 percent to 539,000 units nationwide. This is the highest reading since April 2010, the last month of that year’s federal home buyer tax credit. A “housing start” is a […]

Posted in Home Price Index, New Construction | Leave a comment

Homebuilder Confidence Increases

Homebuilder confidence is soaring. For the second time in three months, the National Association of Homebuilders reports that the Housing Market Index made sizable gains. The Housing Market Index measures homebuilder confidence in the new construction market and is scored between 1-100. Readings above 50 indicate favorable conditions in the single-family new home market. Readings […]

Posted in New Construction | Leave a comment

Mortgage Rates for the week of: July 16, 2012

Mortgage markets improved last week on slowing economic growth worldwide and investor thirst for “safe” investments. China’s economy posted to its weakest growth since 2009 and economic activity in the Eurozone continued to sag. Both events resulted in a broad-based sell-off of equities and non-U.S. bonds. Mortgage bonds benefited from last week’s flight-to-quality as bond […]

Posted in Mortgage Interest Rates, Uncategorized | Leave a comment

84 U.S. Markets Improving In July

Where economic growth goes, housing growth often follows. That’s why it’s good news for homeowners that 84 U.S. metropolitan areas are showing “measurable and sustained growth” this month, according to the National Association of Homebuilders’ Improving Market Index. The Improving Market Index is a derivative report, based on the results of three separate data series […]

Posted in Existing Home Sales, Home Price Index | Leave a comment

Home Purchasing Power Jumps To New Highs

With mortgage rates down to all-time lows, you can buy a lot more home for your money. Home affordability is at an all-time high. According to last week’s Freddie Mac mortgage rate survey, the average 30-year fixed rate mortgage has dropped to 3.62% nationwide. This is down from 4.08% in March, and down from 4.60% […]

Posted in General Information | Leave a comment

Mortgage Rates for the week of: July 9, 2012

Mortgage markets improved last week as concerns for U.S. economic growth wrestled attention away, albeit temporarily, from the Eurozone. Mortgage bonds improved to record prices, lowering mortgage rates across Idaho and nationwide. The biggest news of last week’s holiday-shortened trading week was the Friday release of last month’s Non-Farm Payrolls report. In it, the Bureau […]

Posted in Mortgage Interest Rates | Leave a comment

Mortgage Rates for the week of July 2, 2012

Mortgage markets improved only slightly last week despite a large 2-day rally that lasted through Wednesday and Thursday. Unfortunately for mortgage rate shoppers in Boise, markets were worse throughout the other 3 days of the week, which kept mortgage rates from dropping to new all-time lows. As with many weeks since the start of the year, […]

Posted in Mortgage Interest Rates | Leave a comment