Home prices increased across the S&P Case Shiller 20-City Home Price Index in September. According to the 20-City Home Price Index, Year-over year home price gains increased to 5.50 percent from Augustâs reading of 5.10 percent. 17 cities posted higher year-over0year price gains in September as compared to August.
Tag: Federal Reserve
Case-Shiller Housing Market Index: Home Prices Rise in July
U.S. home prices rose by 0.10 percent in July according to the S&P Case-Shiller Housing Market Index. San Francisco, California edged past Denver Colorado with a year-over-year price increase of 10.40 percent as compared to Denverâs reading of 10.30 percent. All year-over-readings for the 20-City Home Price Index posted gains, but Washington, D.C. showed the lowest year-over0-year growth rate at 1.70 percent. Chicago, Illinois and New York City followed closely with year-over-year readings of 1.80 percent and 1.90 percent respectively.
NAHB: Builder Confidence Hits Highest Rate in 9 Years; Fed Doesn’t Raise Rates
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index reported that home builder confidence rose by one point to a reading of 62 for September. This was the highest reading since November 2005, when the NAHB reported a reading of 68 for home builder confidence.
What’s Ahead For Mortgage Rates This Week – September 8, 2015
Last week’s economic news included reports on construction spending, private and public sector employment data and a report from the Fed indicating that any move to raise interest rates may be delayed.
FOMC Minutes: Rate Hike May be Near
The minutes for the most recent meeting of the Federal Reserve’s Federal Open Market Committee (FOMC) suggest that while committee members won’t specify a date, a rate hike could come sooner than later. Committee members continue to cite concerns over labor markets and other economic factors, but the minutes of the FOMC meeting held July 28 and 29 indicate that a majority of members see a rate change as likely in the near term.
What’s Ahead For Mortgage Rates This Week – August 10, 2015
This week’s scheduled economic news includes reports on construction spending, a survey of senior loan officers, and reports on labor markets including ADP private sector jobs, the federal government’s reports on non-farm payrolls, core inflation and the national unemployment rate.
Federal Reserve FOMC Announcement
The stage was set in high suspense for FOMC’s post-meeting announcement on Wednesday. As fall approaches, analysts and the media are looking for any sign of when and how much the Fed will raise its target federal funds rate. According to CNBC, some analysts were projecting two interest rate hikes before year end, but the truth of the matter remains unknown until the Federal Open Market Committee announces its intentions.
Emma Butler Group- Mortgage Tips & Community 