Archive for June, 2009
With The Year Half-Over, How Accurately Did Economists Predict 2009
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 would be.
Now, on June [...]
What’s Ahead For Mortgage Rates This Week : June 29, 2009
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 volatility that — for just the [...]
In Another Good Sign For The Housing Market, Builders Are Clearing Out Their Inventory
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 press. Instead, [...]
3 More Signs Of A Strengthening Housing Market
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 declare a [...]
Like To Play It Cautious? Consider Rate Locking Ahead Of Wednesday’s Federal Reserve Meeting.
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.
The main [...]
What Consumer Sentiment Surveys Mean To Housing Markets
Americans are feeling better about their budgets right now, raising the possibility of a full economic recovery.
According to a University of Michigan and Reuters, Consumer Sentiment rose for the fifth straight month in June.
Consumer Sentiment is now at its highest levels since September 2008, the month in which Lehman Brothers failed, Fannie Mae and Freddie Mac were nationalized, [...]
What’s Ahead For Mortgage Rates This Week : June 15, 2009
The mortgage market roller coaster continues. Markets worsened badly in the early part of last week, before rallying into Friday’s close.
Overall, mortgage rates were slightly higher for the week even though — briefly — they rose to levels not seen since November 2008.
Last week marks the third week in a row and the sixth [...]
