Feb 26 2016 17292 1

Dated: 02/26/2016

Views: 259

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.

Blog author image

Steve Stratton

I became a Realtor because I love helping people. I'm blessed that I get to do this and raise my 2 sons with my beautiful wife. We are able to help families like yours, in many of life's stages. We fo....

Latest Blog Posts

3 Points to Ponder Before Starting Your Kitchen Remodel

For the third time this week, you’ve found yourself cursing the unusability of your kitchen. The drawers come out in all the wrong directions, the cabinets are so shallow that you can barely

Read More

September 2018 Market Update

September 2018 Loudoun County Market Trends Report: Inventory continues to tighten as prices increase and closed sales declineOverviewContinuing the recent trend, inventory in Loudoun County

Read More

Do You Need An Emergency Plumber To Save The Day?

You didn’t do anything different, but all of a sudden the garbage disposal is smoking and water is backing up in the sink. Is your plumbing possessed? Should you just set the whole house on

Read More

Don’t Be A Victim of the HGTV Effect

You might ask, “what is the HGTV effect?”  The HGTV effect applies to both buyers and sellers.  For sellers it could mean, thinking you can fix up your house and then sell it

Read More