Feb 26 2016 17292 1

Dated: 02/26/2016

Views: 202

For the Week Ending February 26, 2016
 


Please enjoy this quick update on what happened this week in the housing and financial markets.



Volatility in oil prices and stock markets continues, but mortgage bonds have been a bit more stable. Mortgage rates continue to remain near record low levels.

Global economic weakness is a worldwide concern, reported the IMF. However, this weakness is supportive of low mortgage rates here in the U.S.

Jobless claims were up this week, but still well below the 300,000 mark. Claims below this level are typically consistent with an improving labor market.

While the overall housing market recovery remains intact, new home sales were down in January. Harsh weather has been blamed in part for the slowdown.

Alternatively, existing home sales rose in January to reach a six-month high. Sales rose despite the challenges of tight inventory, signaling a steady demand.

Home prices also continue to rise, with Case-Shiller showing increases in most markets in December. Home prices rose 5.4% year-over-year.




 

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Want to Advertise on this Site?

Latest Blog Posts

FICO Scores On Approved Home Loans Drop Again

According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance

Read More

Why You Need An Agent For New Construction

Are you ready to buy a home and considering going in the route of new builds? It may seem like an easy enough process, where you get to call the shots of how you want your dream home to be, but

Read More

Use The Right Paint Finish

Ready to paint your home? Be sure to use the right finishes in each room and feature to make the best impact in your home. Using the wrong finishes can backfire for home owners if the wrong ones are

Read More

Why Now Is The Time To Buy

If you have been considering purchasing a home, you may be curious to know if this is the right time in the market to make your move. The market is fast changing, with new laws coming into play,

Read More