Despite the lowest mortgage rates of all-time, home buyers are slowing the pace at which they’re buying homes.
Monthly Archive: September 2011
The most recent Case-Shiller Index shows a 0.9% rise in home values from June to July 2011. Home values were higher in 17 of the 20 tracked cities.
According to the Census Bureau, the number of new homes sold slid for the fourth straight month in August, easing 2 percent from July. On a seasonally-adjusted, annualized basis, home buyers bought 295,000 newly-built homes last month.
According to the National Association of REALTORS®, Existing Home Sales rose 8 percent in August.
Mortgage markets improved last week as the Federal Reserve provided new market stimulus and the Eurozone continued to grapple with Greek’s sovereign debt issues.
Single-Family Housing Starts fell for the second consecutive month, dropping to a seasonally-adjusted, annualized 417,000 units in August 2011.
Wednesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.
The Federal Open Market Committee adjourns from a two-day, scheduled meeting today, the sixth of 8 scheduled meetings this year, and the seventh Fed meeting overall. Mortgage rates will be volatile.
Homebuilders are feeling worse about the market for new homes nationwide.
Mortgage rates rose for the first time in three weeks last week, pushing conforming and FHA mortgage rates off their all-time, historical lows