Economy

The Week Ahead for Mortgage Rates: July 29, 2013

July 29, 2013 by · Leave a Comment 

What's Ahead For Mortgage Rates This Week - July 29, 2013Last week brought a mixed bag of economic news, but most notably, average mortgage rates fell.

New home sales surpassed expectations and consumer sentiment rose for July. These readings among others suggest that the economy continued to improve and that consumer confidence in the economy improved as well.

Existing home sales in June were reported on Monday at 5.08 million on a seasonally adjusted annual basis. While this fell short of expectations of 5.25 million existing homes sold, the expectation was based on the original reading of 5.18 million existing homes sold for May. This was later revised to 5.14 million homes existing homes sold in May.

FHFA reported on Tuesday that May prices for homes with mortgages held by Fannie Mae or Freddie Mac remained consistent with April’s reading of a 7.30 percent increase on a seasonally adjusted annual basis. Home prices rose by 0.70 percent in May as compared to April’s revised reading of 0.50 percent.

The U.S. Census Bureau revealed on Wednesday that June sales of new homes came in at 497,000, which surpassed both expectations of 483,000 new homes sold and May’s reading of 449,000 new homes sold.

Freddie Mac reported on Thursday that mortgage rates fell last week. The average rate for a 30-year fixed rate mortgage fell by six basis points to 3.31 percent with 0.8 percent in discount points.

The average rate for a 15-year mortgage was 3.39 percent with discount points of 0.8 percent as compared to last week’s report of 3.41 percent. Average rates for a 5/1 adjustable rate mortgage dropped by one basis point from 3.17 percent to 3.16 percent; discount points moved from 0.60 percent to 0.70 percent.

In other economic news, June’s report for Durable Goods Orders nearly doubled to 4.20 percent over expectations of 2.30 percent.

On Friday, Consumer Sentiment for July rose to 85.1 as compared to expectations of 84.0 and June’s reading of 83.90 percent. That consumers continued gaining confidence in the economy could indicate that more would-be home buyers will become active homebuyers seeking to buy amidst a short inventory of available homes.

What’s Coming Up In This Week’s Busy Economic Calendar

Readings for several significant economic and housing related indicators will be released this week.

Pending Home Sales are due out today. Tuesday brings the Case-Shiller Home Price Index and the Consumer Confidence Index. Wednesday’s news includes the ADP report (useful for tracking private sector job growth) and an FOMC statement after its meeting ends.

Fed Chairman Ben Bernanke is also scheduled to give a press conference Wednesday. As always, any remarks concerning projected changes to the Fed’s quantitative easing program (QE) could impact financial markets and mortgage rates.

On Thursday, construction spending data will be released in addition to Freddie Mac’s weekly report on average mortgage rates.

Friday’s news includes several employment-related reports. The monthly Non-Farm Payrolls and Unemployment report will be released; collectively these two reports are frequently called the Jobs Report. Data on personal income and consumer spending will round out the week’s economic news.

This is The Week Ahead for Mortgage Rates: July 29, 2013.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

The Week Ahead for Mortgage Rates: May 13, 2013

Whats Ahead For Mortgage Rates This Week May 13 2013Mortgage rates rose last week with average rates a 30-year fixed rate mortgage rising from last week’s 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.

Average rates for a 15-year fixed rate mortgage rose from 2.56 percent to 2.61 percent with buyers paying their closing costs and 0.7 percent in discount points.

Freddie Mac also reports that average rates for a 5/1 adjustable rate mortgage rose from 2.56 percent last week to 2.58 percent with buyers paying their closing costs and 0.5 percent in discount points.

Click here to see today’s mortgage rates.

Here are noteworthy points from last week’s economic news:

Monday: In spite of improving economic conditions, a majority of participants in the Senior Loan Officer Opinion Survey on Bank Lending Practices indicated that their lending institutions would not be relaxing residential mortgage lending standards. Lenders perceive a significant risk in terms of being required to absorb losses incurred on defaulted mortgage loans.

Mortgage owners including Fannie Mae and Freddie Mac, along with mortgage insurance companies can require mortgage lenders to buy back defaulted loans or make them whole for losses related to foreclosed and otherwise defaulted mortgage loans.

Click here to see today’s mortgage rates.

Tuesday: CoreLogic reported an increase of 1.9 percent in national home prices for March. This news represents the 13th consecutive increase and a year-over-year increase of 10.5 percent.

Home prices were boosted by strong increases in the West; Nevada posted a 22.2 percent gain from last March and California posted a 17.2 percent year-over-year gain.

CoreLogic predicted a year-over-year increase of 9.6 percent for home prices for April, with a monthly increase of 1.3 percent increase expected between March and April.

Click here to see today’s mortgage rates.

Thursday: Weekly jobless claims brought good news as they came in at 323,000; this was lower than expectations of 335,000 new jobless claims and the 327,000 new jobless claims reported in the prior week.

Friday: The Treasury Department reported that the federal budget has a surplus of + $113 billion for April. This was $54 billion higher than for April 2012 and the highest monthly surplus since April, 2008.

Increasing home values and federal budget surpluses, along with falling consumer debt pointed the way toward overall as well as personal economic recovery last week.

Click here to see today’s mortgage rates.

Whats Coming Up This Week

This week brings a couple important economic reports affecting the real estate industry including the Home Builders Index on Wednesday and the Weekly Jobless Claims and Housing Starts numbers on Thursday.

The Consumer Sentiment and Leading Indicators reports will round out the week on Friday. Consumer Sentiment is important in terms of housing markets and mortgage lending; consumers typically don’t buy homes or move up to a larger home if they aren’t feeling secure about economic conditions.

This week’s economic data may provide further evidence of a stronger U.S. economy as well as a snapshot of retail spending and consumer costs.

This is The Week Ahead for Mortgage Rates: May 13, 2013.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

The Week Ahead for Mortgage Rates: May 6, 2013

What's Ahead For Mortgage Rates This Week May 6 2013Mortgage rates fell last week and approached or reached record low levels during the middle of the week.

According to Freddie Mac, the average rate for a 30-year fixed rate mortgage (FRM) fell from 3.40 percent to 3.35 percent. Average rates for a 15-year FRM moved from 2.61percent to 2.56 percent.

Discount points for last week’s mortgage rates ranged from 0.7percent for 30 and 15 year FRM loans.

Click here to see today’s mortgage rates.

Rock-bottom mortgage rates can offset the impact of rising home prices and helps keep home affordability at an all time high.

Last week’s economic news provided further indications of economic recovery, with housing related reports contributing to overall confidence in a stronger economy. Highlights of last week’s news include:

Monday: Pending home sales moved up to 1.50 percent in March from February’s -1.07 percent. This reading also surpassed Wall Street’s forecast of 0.90 percent for March.

Click here to see today’s mortgage rates.

Tuesday: The Case-Shiller Home Price Index for February reported that the national average home price had increased by 9.3 percent year-over-year between February 2012 and February 2013. By comparison, the average national home price between January 2012 and January 2013 increased by 8.1 percent year-over-year. Rising home prices are contributing to the economic recovery, but in some areas demand for homes exceeds supply, which also contributes to rising home prices.

Wednesday: The Federal Open Market Committee (FOMC) issued its scheduled statement after its meeting concluded. Committee members noted signs of an improving economy and cited housing markets as a leading contributor to the recovery. The FOMC statement also indicated that economic conditions were not sufficiently improved for the FOMC to change or cease the Federal Reserve’s quantitative easing policy. The Fed’s goal for its current quantitative easing program is keeping long-term interest rates including mortgage rates low.

Thursday: The weekly Jobless Claims Report brought better-than-expected news with new jobless claims coming in at 324,000, less than the expected reading of 345,000 new jobless claims and also higher than the previous report’s reading of 342,000 new jobless claims.

Click here to see today’s mortgage rates.

Friday: The Bureau of Labor Statistics issued its monthly “Jobs Report,” which consists of the Non-farm Payrolls Report and the national Unemployment Rate. Again new jobs added exceeded expectations for April with 165,000 jobs added against expectations of 135,000 new jobs added. April’s reading also surpassed the March reading of 138,000 new jobs.

The unemployment rate dropped to 7.5 percent as compared to a consensus of 7.6 percent. Last month’s unemployment reading was 7.6 percent.

To put this reading in perspective, the FOMC has targeted an unemployment rate of 6.5 percent as a benchmark for adjusting its current policies including quantitative easing.

Click here to see today’s mortgage rates.

What To Look For This Week

This week’s economic events include latest Jobless Claims report on Thursday. It will be interesting to see if this week’s reading will be lower than last week’s reading of 324,000 new jobless claims.

On Friday, the Federal Budget will be released. This could influence financial markets depending on what programs and services are scheduled to be cut or reduced.

This is The Week Ahead for Mortgage Rates: May 6, 2013.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

The Week Ahead for Mortgage Rates: April 29, 2013

April 29, 2013 by · Leave a Comment 

What's Ahead For Mortgage Rates This Week - April 29 2013Mortgage rates fell again last week in Northwest Indiana and are again near record lows nationwide.

According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago. The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent.

Low mortgage rates are helping homeowners with refinancing and are boosting housing markets as more Northwest Indiana homebuyers can qualify for mortgage loans.

Click here to see today’s mortgage rates.

Home Values Continue To Rise

Last week’s economic news was mixed. The Federal Housing Finance Agency, which oversees Freddie Mac and Fannie Mae, released its Home Price Index for February. According to this index, home prices increased by 0.7 percent between January and February, and increased by 7.1 percent year-over-year on a seasonally adjusted annual basis.

According to the National Association of REALTORS®, existing home sales for March fell short of the expected 5.03 million and came in at 4.92 million existing homes sold on a seasonally adjusted annual basis. This reading was also 0.7 percent shy of February’s reading of 4.95 million existing homes sold.

Some Northwest Indiana homeowners may be taking a wait-and-see stance as they wait for home values to continue rising.

Click here to see today’s mortgage rates.

Employment Numbers Gaining Steam

Weekly jobless claims fell to 339,000 and were short of the consensus of 351,000 and the prior week’s 355,000 jobless claims filed. As more workers gain employment, those able to buy homes increases. The economy in general also benefits as households gain income they can use for purchasing goods and services.

Consumer Sentiment rose by 2.1 points to 76.4 over the March reading of 72.3 percent. April’s reading also surpassed expectations of 74.0 percent.

As consumers gain confidence in the economy, they are generally more likely to buy homes and make other major purchases that contribute to the U.S. economy.

Click here to see today’s mortgage rates.

Coming Up this Week

This week’s economic news calendar includes several reports that impact the housing sector as well as the general economy:

  • Monday: Personal Income, Consumer Spending and Pending Home Sales reports are due for release.
  • Tuesday: The Case Shiller/Wells Fargo Home Price Index for February and Consumer Confidence for April will provide data concerning national and regional home prices and indicate how consumers view the economy.
  • Wednesday: The customary statement by the Federal Open Market Committee (FOMC) is set for release at the conclusion of its meeting. The ADP Employment Index for April and Construction Spending for March provide data on jobs and trends in construction spending.
  • Thursday: Weekly Jobless Claims report
  • Friday: The Non-farm Payrolls Report and Unemployment Rate for April, collectively known as the Jobs Report, will be released.

Click here to see today’s mortgage rates.

While we can’t predict what will happen with mortgage rates, some industry analysts indicated that they expect rates to remain low in the near-term.

These lower rates should continue to support growth in the Northwest Indiana real estate market for homebuyers and sellers as well as those looking to refinance their home.

This is The Week Ahead for Mortgage Rates: April 29, 2013.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

The Week Ahead for Mortgage Rates: April 22, 2013

April 22, 2013 by · Leave a Comment 

What's Ahead For Mortgage Rates This Week April 21 2013Mortgage rates fell for the third consecutive week. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week’s 3.43 percent.

The average rate for a 15-year fixed rate mortgage was 2.64 percent as compared to last week’s 2.65 percent and 3.13 percent year-over-year.

Falling mortgage rates were attributed to reduced consumer spending and a slowing economy.

Click here to see today’s mortgage rates.

Last week’s economic news included the National Association of Home Builders / Wells Fargo Housing Market Index (HMI), with a reading of 42 for March.

This is four points below investor expectations and two points below February’s results. A reading of 50 or above indicates that more of the builders surveyed have a positive outlook.

March results were impacted by builder concerns over tight builder credit, a lack of available lots and increasing construction costs.

Click here to see today’s mortgage rates.

Housing Starts Increased In March

More good news for housing arrived Tuesday when the U.S. Department of Commerce issued its monthly Housing Starts report.

Housing starts for March came in higher than anticipated at a seasonally adjusted annual rate of 1.04 million, against a consensus of 933,000 and also beat February’s reported 968,000 housing starts.

Housing starts rose by 7 percent over February, and rose 47 percent over March 2012, the highest year-to-year increase since 1992.

Click here to see today’s mortgage rates.

The Federal Reserve issued its Beige Book Report which is compiled from reports by the 12 districts of the Federal Reserve. 5 districts reported moderate economic growth, 5 districts reported modest growth, and 2 reported slight economic growth.

Based on the data contained in the Beige Book Report, economists are not expecting the Fed to make changes to its current quantitative easing (QE) program of purchasing $85 billion monthly in bonds and MBS.

This may help mortgage rates remain steady; when MBS prices fall, mortgage rates typically rise.

Click here to see today’s mortgage rates.

Whats Coming Up Next

The National Association of REALTORS® releases its Existing Home Sales report for March today. The consensus is for 5.03 million homes sold on a seasonally adjusted annual basis, and against February’s 4.98 million existing homes sold.

Tuesday brings more housing news with the FHFA Home Price Index for February. FHFA is the federal agency overseeing Fannie Mae and Freddie Mac.

The U.S. Department of Commerce releases its New Home Sales for March on Tuesday. The consensus is 421,000 new homes sold against February’s reading of 411,000 new homes sold.

Thursday’s Weekly Jobless claims are expected to come in at 351,000 as compared to last week’s 352,000. Employment is a key factor in terms of consumers buying homes and qualifying for mortgage loans.

This is The Week Ahead for Mortgage Rates: April 22, 2013.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

The Week Ahead for Mortgage Rates: April 15, 2013

April 15, 2013 by · Leave a Comment 

What's Ahead For Mortgage Rates - April 15 2013Northwest Indiana mortgage rates saw little change last week amidst mixed economic news.

Treasury auctions held on Tuesday, Wednesday and Thursday saw weak demand; this could have been caused by the FOMC minutes that were released on Wednesday.

The minutes indicated that some FOMC members supported ending the current quantitative easing (QE) program within a few months.

The Fed is currently purchasing $85 billion monthly in bonds and Mortgage Backed Securities.

If the QE program is ended, demands for bonds and MBS will decline, which usually raises mortgage rates.

Click here to see today’s mortgage rates.

Employment Numbers Show Promise For Housing Market

Thursday’s jobless claims offered some positive news for the Northwest Indiana real estate market. Jobless claims fell to 346,000, which is well below Wall Street’s estimate of 365,000 jobless claims and the prior week’s report of 385,000 jobless claims.

As more people find work, more families become able to buy homes. Demand for homes will boost the housing market, which is already expanding in many areas.

While higher home prices are good for the economy, higher mortgage rates may be likely to follow. This potentially presents a “double-edged sword” to home buyers with little financial flexibility.

Click here to see today’s mortgage rates.

Slower Retail Sales Largely Due To Autos

Retail Sales, which represent approximately 70 percent of the U.S. economy, moved from February’s level of 1.1 percent to -0.4 percent in March. Expectations were for 0.0 percent change.

The Retail Sales report exclusive of the volatile automotive sector was nearly identical except for the February’s reading of 1.0 percent.

While the economy is improving in some areas, it has a way to go before it has truly recovered.

Click here to see today’s mortgage rates.

Whats Coming Up Next?

This week, investors will be paying attention to the Consumer Price Index (CPI) and the closely related Core CPI, which is nearly identical except for its excludes the more volatile food and energy sectors.

These reports will be released on Tuesday for March, with little change expected for the CPI and no change expected for the Core CPI as compared to February.

The CPI is considered an important indicator of inflation. Unexpected changes in inflationary growth can cause rapid and volatile responses in the financial markets.

Click here to see today’s mortgage rates.

Wednesday brings the Fed’s Beige Book, which presents key economic data for each of the Fed’s 12 regions.

Investors will pay close attention to the Beige Book for signs of the Fed’s position on economic policy during the upcoming FOMC meeting.

Jobless claims will be released Thursday with the expectation of 350,000 claims filed as compared to last week’s 346,000 jobless claims.

This is The Week Ahead for Mortgage Rates: April 15, 2013.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

Fed Meeting Minutes Reveal Rising Wealth For Homeowners

April 11, 2013 by · Leave a Comment 

Federal Open Market Committee Minutes Released 4-10-2013The minutes for the Federal Open Market Committee (FOMC) meeting held March 19 and 20 were released yesterday Wednesday April 10, 2013.

These periodic meetings by the FOMC cover a wide range of topics that impact the overall economy in the United States.

The decisions made and acted upon by the FOMC often sway the real estate and residential financing markets.

Click here to apply for your FREE home loan approval.

Some highlights from the March FOMC minutes include:

Jobs and Unemployment Gaining Steam

The unemployment rate fell to 7.7 percent in February.

While lower than the average unemployment rate for Q4 2012, the rates of long-term unemployment and part-time employment for economic reasons saw little change, and both measures remained high. This suggests that the economy is improving in some areas, while others including employment are not so quick to recover.

Click here to apply for your FREE home loan approval.

Housing Markets Looking Robust

U.S. housing markets continued to improve during the inter meeting period, but construction of new housing faced obstacles including tighter credit and in some areas a lack of available building space.

While housing prices are improving, employment rates and wages will also need to expand for consumers to keep pace with rising home prices.

Click here to apply for your FREE home loan approval.

Some of the Fed Meeting participants continued to be very positive about the prospects of the real estate sector noting rising home prices and demand.

At the same time, an overall tone of restraint and caution was expressed regarding the continuing purchase of Mortgage Backed Securities (MBS).

Any slowing in the Fed’s commitment to their previous levels of MBS purchases may create upward pressure on Northwest Indiana home mortgage interest rates.

Click here to apply for your FREE home loan approval.

Personal Finances and Consumer Confidence

Household expenditures rose modestly during January and retail sales, excluding auto sector, increased at a strong pace in February. Sales of light autos also rose.

Household wealth also increased for homeowners due to increases in home values, which is good news for current homeowners and may be an incentive for new home buyers to move forward and purchase real estate.

Click here to apply for your FREE home loan approval.

Recovering Economy Leads Toward Government Spending Pull Back

The FOMC minutes suggest that the Fed is not likely to end its quantitative easing (QE) program immediately, but the first quarter of 2014 was cited as a potential date for the program to end.

Gradual decreases in the Fed’s purchases of bonds and mortgage-backed securities are expected before QE ends, and this could cause Northwest Indiana mortgage rates to rise as MBS prices fall.

This most recent assessment is in line with financial analysts expectations since the beginning of this year that Northwest Indiana mortgage rates will definitely start it’s upward climb as the 2013 progresses.

Click here to apply for your FREE home loan approval.

James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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Economy

More Jobs Means More Opportunities For Home Ownership

April 10, 2013 by · Leave a Comment 

Federal Jobs Report Shows Robust Job Growth April 2013The Bureau of Labor Statistics (BLS) issued its Job Openings and Labor Turnover report for February on Tuesday, April 9th, 2013.

The data was mixed with preliminary figures for all non-farm jobs increasing from 3.62 million jobs in January to 3.93 million jobs in February. This was the highest month-to-month increase in jobs since May 2008.

Non-farm jobs increased by 399,000 jobs from 3.53 million in February 2012 to 3.93 million jobs in February 2013, an increase of 10.2 percent year-over-year.

Click here to apply for your FREE home loan approval.

More Jobs Means More Opportunities For Home Ownership

More jobs generally means higher incomes and stability which enable more families to buy homes and qualify for mortgage loans in Northwest Indiana.

Total non-farm job separations changed little month to month, and remained exactly the same year-over-year at 4.20 million separations.

Numbers of hires and separations surpass job numbers due to workers being hired on and/or separated from more than one job during the reporting period.

Click here to apply for your FREE home loan approval.

Regional Non-Farm Employment Shows Job Growth

  • Northeast: Non-farm jobs fell from 688,000 jobs in January 2013 to 647,000 jobs in February 2013, but increased year-over-year from 589,000 jobs to 647,000 jobs.
  • South:  Non-farm Jobs fell from 1.56 million jobs in January 2013 to 1.50 million jobs in February 2013. Jobs increased year-over-year from 1.34 million jobs in February 2012 to 1.47 million jobs in February 2013.
  • Midwest: Non-farm jobs grew from 712,000 in January 2013 to 780,000 jobs in February 2013 and increased from 740,000 jobs to 780,000 from February 2012 to February 2013.
  • West: Non-farm jobs increased from 806,000 to 830,000 between January and February 2013; on a year-over-year basis, jobs showed noteworthy growth from 650,000 jobs to 830,000 jobs between February 2012 and February 2013.

Click here to apply for your FREE home loan approval.

It’s A Great Time To Buy Or Refinance A Home

Improving labor data indicates that the economy is on the mend, but this could cause mortgage rates and home prices in Northwest Indiana to rise as the economy expands.

A gradual economic recovery suggests that Northwest Indiana home buyers and others seeking lower mortgage rates and refinancing can still find favorable mortgage terms.

But it would likely be best to take advantage of the still historic home purchase and financing opportunities that are available today and to learn how the growing economy can benefit your family as well.

Click here to apply for your FREE home loan approval.

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James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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