New Home Sales Slip In October

After posting a strong September, the number of newly-built homes sold nationwide slipped in October. Total units sold on an annual basis dropped by 25,000 from September; supplies of new homes climbed 0.7 months. Home supply is back to its rolling, 6-month average of 8.6 months. Like everything else in...

What’s Ahead For Mortgage Rates This Week : November 29, 2010

In a holiday-shortened week on Wall Street, mortgage markets improved on 3 of 4 days, but still posted its fourth consecutive losing week. Unfortunately for rate shoppers and home buyers in Washington , last week’s 3 days of gains were mild improvements; the one day of deterioration was among the Top...

Fed Minutes Help Push Mortgage Rates To 4-Month High

The Federal Reserve released its November 2-3, 2010 meeting minutes Tuesday afternoon. Mortgage rates in Washington have been on the move since. The Fed Minutes is a comprehensive review of Federal Open Market Committee meetings; a detailed look at the debates and discussions that shape our country’s...

October Existing Home Sales : Buyers And Sellers In Balance

After two months of surging sales, home resales fell by 100,000 units last month to 4.4 million homes nationwide. October’s Existing Home Sales tally is slightly below the report’s 6-month rolling average, according to the National Association of REALTORS® — a time span which includes...

Applying For A Mortgage Soon? Don’t Open New Credit Cards On Black Friday.

Black Friday is 3 days away. It’s the official start of the 2010 Holiday Shopping Season. Sales are expected to top $111 billion this year and, already, businesses are vying for shoppers and their dollars. Newspaper circulars are getting larger, and in-store discounting is more prevalent. But one...