Mortgage rates worsened for the week ending February 8, 2013 in response to strong economic data in the US and abroad.
The Improving Market Index added 76 metropolitan areas in December as compared to the month prior.
The Federal Open Market Committee (FOMC) begins a 2-day meeting today, its last of 8 scheduled meetings this year.
Mortgage rates are performing surprisingly well after Friday’s release of the October 2012 Non-Farm Payrolls report.
According to the U.S. Census Bureau, the number of new homes sold jumped to 389,000 units in September 2012 on a seasonally-adjusted, annualized basis.
Home purchasing power is up 6.6% since the start of the year.
The FOMC adjourns from a 2-day meeting today. Mortgage rates are expected to change — perhaps by a lot.
This week, for the first time since mid-June, the 30-year fixed rate mortgage rate climbed on a week-over-week basis, moving 6 basis points to 3.55%, on average.
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