At the start of the year, the “experts” made a lot of predictions about the U.S. economy and what to expect in 2009. Some said housing would rise Some said housing would fall Some said mortgage rates would rise Some said mortgage rates would fall And nobody predicted just how big the government’s stimulus package [...]

Mortgage markets improved last week on the heels of benign economic data and a non-inspired press release from the Federal Reserve. Aside from trader momentum, 3 market-moving events helped set the pace last week: Housing data hinted at strength Jobless data showed softness The Fed said growth appears on-track The combination of the three created [...]

If you only saw the headlines this week, you may have missed another positive sign in the housing market. According to the Census Bureau, the supply of newly-built homes for sale fell to 10.2 months in May, its lowest level in 10 months. Unfortunately, the New Homes Sales story wasn’t positioned as a positively by [...]

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent. The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is not slowing with the same [...]

The housing market got another dose of good news yesterday. According to the National Association of REALTORS, the number of homes sold in May increased for the third straight month and the national housing supply fell by 5 months. Furthermore, first-time home buyers are accounting for nearly one-third of the market activity. But, before we [...]

The Federal Reserve begins its scheduled two-day meeting this morning. It’s one of 8 scheduled meetings for the Federal Open Market Committee this year. When the FOMC meets, it discusses the financial and economic conditions around the country and, when appropriate, the group makes new policy meant to speed up or slow down the economy. [...]

Mortgage markets finished out the week unchanged last week but that’s not to say that mortgage rates stayed flat. From day-to-day, mortgage rate shoppers were on a veritable roller coaster. Monday and Tuesday, rates dipped Wednesday and Thursday, rates surged Friday, rates retreated Overall, conforming mortgage rates carved out a half-percent range this week. This [...]

Mortgage rates are suffering through another volatile week, causing problems for rate shoppers and home buyers. After falling Monday and Tuesday, mortgage rates surged Wednesday and Thursday. The momentum higher appears to be carrying into the weekend, too. There are several data-related reasons for the mortgage market’s spastic activity this week: Unemployment claims fell Leading [...]

Moving to a new metropolitan area requires adjustments. There’s new streets to learn, new weather patterns to get used to, and new social cultures to assimilate. There’s also new costs. Just like home values vary by area, so does the Cost of Living. To visit a doctor in Chicago, as an example, costs a person [...]

After being range-bound since the start of the year Housing Starts unexpectedly jumped in May, surprising analysts and Wall Street. It’s the latest in a string of housing-related data that suggests a real estate recovery is already underway. Housing Starts is an important statistic for a number of reasons, but to homebuyers and home sellers, [...]