Monday Cup of Coffee

Monday Morning Coffee Oct 22

Since it raises the outlook for future inflation, the stronger than expected economic data released recently was bad news for mortgage rates.  Though rates will vary based on many factors, the mortgage rate quoted at 4.875% was the highest posted in many years.  But there is good news… 1) Obviously rates are still below 5%, and 2)…

Read More

Monday Morning Coffee Oct 15

Current economic conditions provide many reasons for improving levels of home sales. These include record highs in the stock market, a solid labor market, faster wage increases, and consumer confidence at historically strong levels. For example, the most recent reading for weekly jobless claims dropped to the lowest reading since 1969. Despite all the good…

Read More

Monday Morning Coffee Oct 8

After four straight months of declines, sales of previously owned (existing) homes were flat in August. The inventory of existing homes for sale also was flat from July at a 4.3-month supply, which was not particularly encouraging since a 6.0-month supply is considered a healthy balance between buyers and sellers. A small bright spot was…

Read More

Monday Morning Coffee Oct 1

Although recent major U.S. economic data and European Central Bank meeting contained more good news than bad for mortgage rates overall, rates ended slightly higher. The most recent inflation data came in at lower than expected levels. The Consumer Price Index (CPI), a widely followed monthly inflation report that looks at the price change for…

Read More

Monday Morning Cup of Coffee Sept 17

New Home sales slid 1.7% in July, off for the second straight month. Existing Home sales also slipped, about 0.7% in July, off now four straight months. But the housing recovery holds: sales for the first seven months of 2018 are up a healthy 7% over 2017. Buyers may also be encouraged by the fact…

Read More

Monday Morning Coffee Sept 3

Existing home sales fell year-over-year, down about 2.2%. Based on this data, it would take 4.3 months to exhaust all available inventory. Though housing inventory is still tight, this reflects a gradual pace to a more normal real estate market. The FHFA house price index increased 6.4% year-over-year, showing that housing is still appreciating nationwide.…

Read More