Mortgage markets improved last week ahead of Memorial Day and a 3-day weekend. Bond pricing ending the week higher, pushing conforming mortgage rates in Washington down for the 5th week out of six.
Most economic news reported worse-than-expected. Initial Jobless Claims increased sharply, GDP was unchanged,...
Home affordability moved higher last quarter, buoyed by stable mortgage rates and falling home prices in Washington and nationwide. The National Association of Home Builders reports that Q1 2011 Home Opportunity Index reached an all-time high for the second straight quarter last quarter.
Nearly 3 of 4...
Home values dropped for the sixth straight month in March 2011, according to the Federal Home Finance Agency’s Home Price Index. The Home Price Index is a government-sponsored home value tracker.
The HPI report is the latest in a string of “falling home values” stories — a trend...
Sales of newly-built homes surprised Wall Street, jumping 7 percent to an seasonally-adjusted, annualized 323,000 units last month.
In addition, the supply of new homes dropped to 6.5 months — a 2-month decrease from October 2010 and the best reading in a year.
The report runs counter to recent...
Mortgage rates across the state are near year-to-date lows, but locking them in this week may be difficult. As Memorial Day nears, and Wall Streeters get a head-start on the long weekends, trade volume in the mortgage bond markets will dip.
When bond volume drops, mortgage rates get jumpy. It’s a...
