According to the S&P Case-Shiller Home Price Index report for January, home prices grew by 4.50 percent year-over-year as compared to January 2014âs year-over-year price growth rate of 10.50 percent. This was the lowest rate of home price growth since 2012.
Category Archives: Market Outlook
What’s Ahead For Mortgage Rates This Week – March 30, 2015
Last week’s economic reports included reports on new and existing home sales and FHFA’s monthly home price index for properties associated with Fannie Mae and Freddie Mac mortgages. The details:
FHFA: Home Prices Rise 0.30 Percent in January
The Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014. FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac.
What’s Ahead For Mortgage Rates This Week – March 23, 2015
Last weekâs events included the National Association of Home Builderâs Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellenâs press conference.
FOMC Statement: Federal Reserve Discusses Rate Increase, but Concerned About Growth
The post-meeting statement of the Federal Reserve’s Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent.
What’s Ahead For Mortgage Rates This Week – March 16, 2015
Last week’s economic reports included job openings, retail sales, retail sales except automotive, consumer sentiment for March and the usual reports on weekly jobless claims and mortgage rates.
What’s Ahead For Mortgage Rates This Week – March 9, 2015
Last weekâs economic news was scant on housing related reports, but several employment reports were released along with the national unemployment rate, which dipped to 5.50 percent. This was a full point below the Federal Reserveâs original target rate of 6.50 percent. Construction spending was incrementally lower than expected and mortgage rates also fell.
What’s Ahead For Mortgage Rates This Week – March 2, 2015
Last week provided several housing-related reports including New Home Sales, Pending Home Sales and Existing Home Sales reports. Case-Shiller and FHFA also released data on home prices.
FHFA House Price Index Rises for 14th Consecutive Quarter
According to the Federal Housing Finance Agency (FHFA), U.S. home prices rose by 1.40 percent for the fourth quarter of 2014 and were up by 0.80 percent month-to-month from November. The seasonally adjusted FHFA House Price Index measures purchase transactions for homes connected with mortgages owned by Fannie Mae and Freddie Mac.
Case-Shiller: Rising Home Prices Boost Inflation
December home prices rose by 0.10 percent according to the Case-Shiller 20-City Home Price Index. The composite report tracks home prices in 20 U.S. cities. December’s results boosted home prices by 4.50 percent year-over-year, which is approximately double the inflation rate for 2014.