Monthly Archives: December 2014

What’s Ahead For Mortgage Rates This Week – December 29, 2014

Last week’s economic news included several housing related reports. Housing markets continue to cool as November reports on existing and new home sales fell below expectations. New Jobless claims were lower than expected by 10,000 claims.

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Existing Home Sales Dip to Lowest Level since May

Sales of existing homes dropped to a seasonally-adjusted annual rate of 4.93 million as compared to expectations of a 5.18 million existing homes sold. Projections were based on October's reading of 5.25 million.

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Are You Applying for a Reverse Mortgage? Here Are 3 Considerations You’ll Need to Make

If you're a homeowner who is looking to tap in to the home equity that you've spent years building you may be interested in a "reverse mortgage" or "home equity conversion mortgage". Let's take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage might cost.

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What’s Ahead For Mortgage Rates This Week – December 22, 2014

Last week's scheduled economic events were few but informative. Housing related reports included the National Association of Home Builders/Wells Fargo Housing Market Index for December, which stayed close to a nine-year high reading of 59 in September. December's reading was 57 and fell two points shy of the expected reading of 59.

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FOMC Statement: No Year-End Surprises

The Federal Open Market Committee (FOMC) said in its last statement for 2014 that although economic conditions have improved at a moderate pace, the Fed believes that the target federal funds rate of between 0.00 and 0.25 percent remains "appropriate." While labor markets show expanding job growth and lower unemployment rates, FOMC members noted that housing markets are recovering slowly.

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Be Prepared for Your Mortgage Pre-approval Interview by Having Answers to These 4 Questions

So – you've completed an initial mortgage pre-qualification and now you're ready to take the next step and meet with your lender or mortgage advisor for the pre-approval interview. Are you ready? Let's take a quick look at a few questions you should know the answers to before you go in for a mortgage pre-approval.

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Home Builder Index Stays Near Nine Year Peak

Home Builder Sentiment slipped to a reading of 57 in December according to the National Association of Home Builders Housing Market Index. November's reading of 58 prompted analysts to project a reading of 59 for December. The latest reading marks the sixth consecutive month for readings above 50.

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