Eye On Housing
Author Archives
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30-Year Mortgage Rate Retreats
For the third straight month, information compiled by Freddie Mac shows that mortgage rates continued to fall in February 2019. The 30-year FRM – Commitment rate, fell by nine basis points to 4.37 percent from 4.46 percent in January. The cycle peak was 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built homes,… Read More ›
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Housing Starts Fall in February
Total housing starts posted a 8.7 percent decrease in February (1.162 million units) compared to a upwardly revised January estimate of 1.273 million units according to the joint data release from the Census Bureau and HUD. Relative to February 2018, total starts are 9.9 percent below the annual pace of 1.29 million units. The rate of single-family starts posted a… Read More ›
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Florida Leads Job Gains in February
Total nonfarm employment, seasonally adjusted (SA) increased by 2.5 million jobs, year-over-year (YoY), or 1.7% from February 2018 to February 2019. During this time, total nonfarm employment in the Western and Southern regions increased by 1.7%. The Midwest and the Northeast recorded the lowest gains at 0.7% and 0.8% respectively, during this time. According to the Bureau of Labor Statistics,… Read More ›
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North Carolina Leads Job Gains in January
On an annual basis, total nonfarm employment in January increased by 2.8 million jobs, which is a 1.9% increase compared to January 2018. During this time, total nonfarm employment in the Western region increased by 1.9% and in the Southern region by 1.8%. The Midwest and the Northeast recorded the lowest gains at 1.0% during this time. According to the… Read More ›
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Permit Growth Stable in December
Over the year 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 852,856. On a year-over-year basis, this is a 4.3% increase over the December 2017 level of 817,319. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits for the year 2018, was 852,700 which is 4.0% ahead of its level over… Read More ›
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Total Housing Starts Rebound in January
Total housing starts increased 18.6 percent in January 2019 (1.230 million units) compared to a revised down December estimate of 1.037 million units. However, total starts are 7.8 percent below the January 2018 level of 1.334 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department that was delayed due to the partial government… Read More ›
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Rocky Mountain and the Far West Led GDP Growth in the Third Quarter of 2018
Real gross domestic product (GDP) increased in 49 states and the District of Columbia, in the third quarter 2018 compared to the second quarter of 2018. U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 5.8% in Washington to 0.0% in West Virginia. Nationwide, real GDP growth slowed to… Read More ›
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30-Year Mortgage Rate Falls
For the second straight month, information compiled by Freddie Mac shows that mortgage rates continued to fall in January 2019. The 30-year FRM – Commitment rate, fell by another 17 basis points to 4.46 percent from 4.64 percent in December. The cycle peak was 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built… Read More ›
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Permit Growth Flat in November
Over the first eleven months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 799,679. On a year-over-year basis, this is a 5.1% increase over the November 2017 level of 761,229. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first eleven months of 2018 was, 800,000 which is… Read More ›
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Mortgage Market Moves
As has been discussed, information compiled by Freddie Mac shows that mortgage rates reversed coursed in December. The 30-year FRM – Commitment rate, which had been increasing since August, fell by 23 basis points to 4.64 percent from 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built homes, inched up two basis points… Read More ›