Treasuries and mortgage-backed security prices are opening higher this morning after the EU failed to agree on terms of additional aid to Greece to help them avoid defaulting on their debt. Some of the key economic reports this week include May new home sales and the May durable goods report. The headline report for the week will be the FOMC meeting that begins on Tuesday and the resulting policy statement and press conference on Wednesday.
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Tag Archives: New Home Sales
Bond Market Closed to Observe President's Day – Market Update
The bond market is closed today in observance of the President’s Day holiday. Later in the week, key data will be released, including, existing home sales, new home sales, Gross Domestic Product, and durable goods.
Market Update – Key Economic Reports Released This Week
Treasuries are up this morning on concern that the European debt crisis may spread following Ireland’s bailout this weekend. Some of the key economic releases for the week include GDP, October existing home sales, the Federal Open Market Committee (FOMC) minutes from the last meeting when QE2 was announced, and new home sales.
Americans Start Buying Houses Again – Home Sales Up 10% in September
Signs of a housing recovery abound as home sales increase 10% in September. Have you taken advantage of record low mortgage rates and purchased your dream home yet?
Market Update – Mortgage Bonds Slightly Lower
Yesterday’s New Home Sales data and Durable Goods data disappointed the markets helping mortgage bonds early. However this was offset by a weak Treasury auction. Mortgage bonds are slightly lower this morning as Jobless Claims came in a little better than expected.
Market Update – Durable Goods Report Shows Economy Slowing Down
Treasuries are up even more this morning after the durable goods report showed that July orders increased less than forecasted. This is yet another sign the U.S. economy is slowing down. The MBA reported that total mortgage applications rose by almost 5%. Also, the July new home sales report is expected to be unchanged while the FHFA house price index is expected to show a small increase.
How Long Should You Keep Your Mortgage Documents?
After selling a house, how long should you keep your old closing and refinancing documents around? Our Home Loan Experts provide some advice.
Capital Markets Update – Durable Goods Report Supports U.S. Recovery Claims
The durable goods report showed that orders excluding transportation jumped up in March by 2.8 percent, which supports claims that the U.S. recovery is under-way. In other news, Greece formally asked for an activation to its EU/IMF rescue package.
New Home Sales Sink 2.2%
The U.S. Census Bureau and the Department of Housing and Urban Development announced today that sales of new, single-family homes in February fell 2.2 percent compared to January’s numbers. The report also showed there is currently a 9.2 month inventory of unsold homes on the market.
New Home Sales Fall to 9-Month Low
The new home sales report showed a drop of 7.6% today to the seasonally adjusted annual rate of 342,000 for last December. The drop can be explained by the first-time home buyer tax credit, which was originally scheduled to end November 30th. Potential home buyers were likely to have held back on buying the home if they believed they were too late for the tax credit.
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