The FOMC meets today for the fifth time this year. Mortgage rates will be volatile for the next few days. Make sure to have a plan.
Mortgage markets booked major losses last week after European leaders spoke of their determination to preserve the European Union.
The Pending Home Sales Index is on a 14-month winning streak.
Sales of new homes slipped 8 percent in June.
The housing market’s bottom is 9 months behind us. Home values continue to climb nationwide.
30-year fixed rate mortgage rates have now dropped through 5 consecutive weeks, and in 11 of the last 12 weeks.
Mortgage markets improved last week on expectations for new Federal Reserve stimulus, plus ongoing concerns about the European Union’s future.
Home resales slipped more than 5 percent last month, putting a damper recent housing market enthusiasm.
New construction housing is in a post-recession rally.
For the second time in three months, the National Association of Homebuilders reports that the Housing Market Index made sizable gains.