Financial News

Hurricanes Harvey and Irma put a dent in new home construction in Florida and southern Texas. Single family Housing Starts fell 4.6% percent from August, although they were up 5.9% from September 2016. Mortgage rates were essentially unchanged in the latest week as reported by the Mortgage bankers Association (MBA).



NAR Update

The National Association of REALTORS® (NAR) reported on Thursday that Pending Home Sales in July fell 0.8% and has declined four of the last five months. The NAR said that staggering low inventories throughout the country continue to stall contract activity.

Weekly Financial Update

This week’s financial recap: Mortgage rates remained just above all-time lows this week, as reported by Freddie Mac. The Commerce Department reports that New Home Sales in May jumped nearly 3% from April to an annual rate of 610,000, above the 599,000 expected. If you are thinking about purchasing a new home, please call or email us to get pre-approved. Happy Friday, enjoy the weekend.

Financial Friday Update

Mortgage rates continued to edge lower this week as Bond prices rose and yields declined. Americans filing for first time unemployment benefits fell in the latest week and remain near multi-decade lows as the sector continues to gain strength. CoreLogic reported on Thursday that due to rising home prices, 91,000 residential properties regained equity in the first quarter of 2017.