Quarterly Earnings, First Mortgages

Quarterly earnings season ramps up this week with JPMorgan, Wells Fargo and Citigroup reporting on Friday. Wall Street feels that the corporate tax cuts could propel quarterly profits to their highest in seven years. The numbers will have a direct impact on U.S. Stocks this week depending on how companies have performed. It is expected […]

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Home Prices Continue to Increase

Home prices continued to rise in January due in part to the low amount of homes for sale on the markets. Currently there is a 3.4-month supply of homes for sale, well below the 6-month supply that is seen in a healthy market. The S&P/Case-Shiller 20-City Home Price Index rose 6.4% from January 2017 to […]

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Employment trends, Inflation. Personal savings

The Conference Board’s Employment Trends Index (ETI) +1.2% to 107.7, a fresh all-time high. “The Employment Trends Index accelerated further in February, suggesting that strong job growth is likely to continue in the coming months,” said Gad Levanon, Chief Economist, North America, at The Conference Board. February’s increase in the ETI was fueled by positive […]

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Housing Inventory

Low supplies of homes for sale on the market, especially entry-level homes, continues to push home prices higher across the nation. CoreLogic reports that home prices, including distressed sales, rose 6.6% from January 2017 to January 2018. On a month-over-month basis, home prices were up 0.5%. Looking ahead, CoreLogic forecasts that home prices will increase […]

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New Home Sales

Rising mortgage rates coupled with a lean supply of homes for sale on the lower-end of the market pushed sales of single-family homes lower in January. The Commerce Department reported that New Home Sales fell 7.8% in January from December to an annual rate of 593,000 units versus the 645,000 expected led by a 33% […]

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Home Builder Confidence

Home builder confidence remained at high levels in January after December registered an 18-year high: this signals housing demand should continue to grow in 2018. The National Association of Home Builders reports that its Housing Market Index came in at 72 this month, after the 74 reported in December. A strong labor market, low mortgage […]

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Home Price Index

The March S&P Case-Shiller 20-city Home Price Index came in at +5.9% year-over-year. The 5.9% matched February’s reading and is the biggest gain since July 2014. From February to March, prices were up 0.9%. Lean inventories of homes for sales are the catalyst behind the rise. The national index increased 5.9%. “If mortgage rates, currently […]

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January Existing Home Sales at 10-year highs

Wednesday – February 22 The National Association of REALTORS® reported on Wednesday that Existing Home Sales in January surged by 5.69 million annualized units. This was up 3.3% from December to highs not seen since February 2007 (5.79 million). All major regions across the nation saw gains, with the exception of the Midwest. The median […]

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News

Monday- February 13, 2017 After hitting a 10-year high in January, Consumer Sentiment declined in early February, which was centered around the expectations index. However, confidence remains quite favorable, with only five higher readings in the past decade. The preliminary February University of Michigan Consumer Sentiment Index fell to 95.7 from the final reading of […]

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NEWS

Thursday – February 9 Mortgage rates edged lower in the latest week and have been essentially unchanged in the last three weeks due to mixed economic data and the uncertainty surrounding the new administration’s fiscal policies. The 30-year fixed conventional mortgage rate ($424,000 or less) slipped to 4.17% this week from 4.19% with 0.4 in […]

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