Mortgage Market Weekly – Update Mar 2, 2015

In This Issue…

Last Week in Review: Recent housing reports have disappointed, but sales of new and existing homes are up from this time a year ago.

Forecast for the Week: The Jobs Report for February is a must-watch. Also look for news on inflation, personal income and spending, and manufacturing.

View: Boost new ideas and creative thinking with these four tips.

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Mortgage Market Weekly Update – June 28, 2013

In This Issue

Last Week in Review: A full slate of economic reports was released. But was the news positive?

Forecast for the Week: A holiday-shortened week is ahead, and so is the all-important Jobs Report for June.

View: The retweet is a big part of what makes Twitter an effective marketing tool. Check out 6 easy ways to master getting more.

Last Week in Review

“Feeling groovy.” Simon and Garfunkel. Consumers are certainly feeling more confident these days, as positive economic news tumbles in. But what does this mean for home loan rates? Read on for details.

consumer-confidence-mar-jun_2013-07-01Consumer Confidence, which measures how optimistic or pessimistic consumers are with respect to the economy in the near future, came in at 81.4 in June. This is the highest level since January 2008, when it stood at 87.3. The Consumer Sentiment Index, a similar measure, also came in above expectations for June.

Housing continues to be a bright spot for the economy as Case-Shiller reported that its 20-city home price index rose by 12.1 percent year-over-year in April. In addition, the 2.5 percent gain in the index from March to April was the largest monthly gain ever recorded. New Home Sales also rose 2 percent, coming in above expectations.

But not all the economic news last week was cause for song. The final reading for 2013 first quarter Gross Domestic Product (GDP) came in at 1.8 percent, below expectations and a pretty anemic reading overall. The good news is that this reading is higher than the meager 0.4 percent reading for the fourth quarter of 2012. And in the manufacturing sector, the Chicago PMI (a key regional report) came in lower than expectations and below May’s reading.

What does all of this mean for home loan rates?

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