This week, there’s a lot of data and news due for release, the most influential to markets of which is the Federal Open Market Committee’s scheduled policy meeting.
According the Federal Home Finance Agency’s Home Price Index, home values are now just 12.5 percent off their April 2007 peak nationwide. This after a half-percent monthly increase in prices in May,on average.
Analysts expect that a net 65,000 jobs were lost in July. Wall Street — and Main Street — have a big interest in those results.
Friday’s July Jobs Report Could Spur Mortgage Rates Higher
June’s Pending Home Sales Index is weak by most measures, but if you’re a home buyer, the headlines aren’t so bad. Fewer home sales can push negotiation leverage to the buy-side of a transaction.
The fiscal responsibility of a homeowner extends beyond the mortgage’s basic principal and interest repayments. Homeowners are also responsible for the real estate taxes on the home and its insurance premiums, too.
Non-Farm Payrolls hits the wires Friday at 8:30 AM ET. Markets are expecting a 75,000 net loss of jobs last month. If the actual number is higher, mortgage rates should rise. If the actual number is lower, mortgage rates should fall.
Mortgage Questions?
Follow Us On Twitter
- Is More Fed-Led Stimulus On Its Way? http://t.co/ryrOVWWj
- Single-Family Housing Starts Powers Ahead http://t.co/1b1pgrgO
- Homebuilder Confidence Moves To 5-Year High http://t.co/EudsmmbO
- Home Affordability Getting A Springtime Boost From Greece http://t.co/N084DIBb
- Whatâs Ahead For Mortgage Rates This Week : May 14, 2012 http://t.co/TAvjcKzd
Mortgage Calculator
$ % yrs % $ Mortgage Disclosures
This is not an offer to lend. All approvals are considered based on current guidelines.
⇒ Read Full Disclosure
Guaranteed Rate 3940 N. Ravenswood Ave. Chicago, IL 60613 800.921.2430