Consumer sentiment is at 89.4% for the preliminary November reading, up a full three points from the reading to end October. A major factor in this is the spike in consumer sentiment on current conditions, which is up 4.7 points since the final reading of September. Falling gas prices have greatly boosted confidence.
Home values increased by more than 2% this month, while consumers’ perceptions of home prices were slightly more in line with appraisers’ views.
Get the latest on jobless claims, mortgage rates, equity markets and more in this week’s Market Update.
According to the Primary Mortgage Market Survey released by Freddie Mac, average fixed-rate mortgage rates decreased slightly, a week after making their biggest one-week gain of the year.
The Candy Global Prime Sector Report lists 12 cities around the world that have strong potential in the coming years to demonstrate significant residential property price growth. The report includes reasons to be optimistic about property values in these areas, which is encouraging news to property owners considering renovations and improvements aimed to further bolster property values.
The Dow Jones Industrial Average dropped 70 points Friday on what turned out to be a bad day all around for stocks. The S&P 500 fell nearly 3% for the week, while the NASDAQ decreased more than 2%.
Pending Home Sales jumped a very strong 6.1%. All regions showed solid gains in this area, but were led by the Northeast, which has proven to be the strongest region for existing home sales.
The S&P 500 and the Dow Jones Industrial Average both closed at record highs Friday. Read on to find out more.
Renting a house used to be a popular choice over buying because it was cheap. That doesn’t seem to be the case anymore. In fact, one out of three Americans now live in a housing market where rent for a three-bedroom home is more than 30% of their monthly median income, according to RealityTrac.
We created our latest guide, Understanding and Managing Credit 101, as part of our Zing Education Series. We want to provide you with the information and tools you’ll need to keep great credit and qualify for the best possible mortgage rates. Here at Quicken Loans, we call that a win-win.