Mortgage Weekly Update - Last Week in Review - Mixed Week
Foster Weeks does a weekly mortgage update.===================================
...While the great thing about the economic markets is that they are never permanently set, they are often mixed up. And last week was one of those times, on a huge batch of interesting and sometimes conflicting news and headlines. Let's take a closer look at the mix of the week, and how it impacted home loan rates.
New and Existing Home Sales arrived with a conflicting read - Existing Sales a bit worse than expected, New Sales a bit better than expected - overall showing a moderate cooling in the housing sector, but no "bubble bursting". Prices appear to have flattened over the past 12 months, with some areas showing very modest increases and others showing very slight price declines...
...What a mix indeed...Bond prices and home loan rates bobbed around midweek on the news, but ended up almost exactly where they began.
And that wasn't all - let's look at the inflation front, since it is the key driver of home loan rates...as well as being the largest determining factor on whether the Fed will decide to keep the Fed Funds Rate in a paused position, continue to hike, or revert to cuts in the near future...read on.
- Foster Weeks
posted by SFResidence.com @ 8:29 AM
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