Saturday , 21 October 2017

Buzz Feed

Residential Construction Lower on Hurricanes: Trends Remain in Place

By Michael Neal Information released jointly by the Department of Housing and Urban Development and the Census Bureau indicates that total housing starts fell by 4.7 percent reflecting a 4.6 percent decline in single-family starts and a 5.1 percent drop in multifamily starts. This release reflects three dynamics, the impact of the recent hurricanes, the continued national trend growth in …

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Gas Prices Drive Overall Inflation

By Michael Neal According to the Bureau of Labor Statistics, seasonally adjusted consumer prices faced by urban consumers (CPI) accelerated over the month of September 2017 reflecting an increase in the rate of gasoline price growth. However, the pace of acceleration slowed over the month reflecting in part a slowdown in the growth of shelter prices. Excluding the more volatile …

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Gap Between Owner and Appraiser Opinions of Home Values Narrows for Fourth Straight Month

By QLAdmin •Quicken Loans’ National HPPI shows appraised values 1.14% lower than homeowners estimated in September • Home values rose 0.44% nationally in September, with a 3.38% year-over-year increase, according to the Quicken Loans HVI DETROIT, October 10, 2017 – Homeowners still don’t see eye-to-eye with those who appraise their homes. Appraiser’s valuations were 1.14 percent lower, in September, than …

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Gap Between Owner and Appraiser Opinions of Home Values Narrows for Fourth Straight Month

By QLAdmin •Quicken Loans’ National HPPI shows appraised values 1.14% lower than homeowners estimated in September • Home values rose 0.44% nationally in September, with a 3.38% year-over-year increase, according to the Quicken Loans HVI DETROIT, October 10, 2017 – Homeowners still don’t see eye-to-eye with those who appraise their homes. Appraiser’s valuations were 1.14 percent lower, in September, than …

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Mortgage Rates on New Home Purchases Remain Low

By Michael Neal The Federal Housing Finance Agency reported that contract rates on purchases of newly-built homes rose 7 basis points over the month of August 2017 to 4.01 percent. The average mortgage rate on purchases of newly built homes is 47 basis points above the low touched in October 2017. However, it remains 17 basis points below the recent …

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GDP Growth in Q2 Ticks Up With Third Estimate

By Michael Neal The U.S. Bureau of Economic Analysis (BEA) released its third estimate of the nation’s economy for the second quarter of 2017. According to the release, faster economic growth was maintained over the second quarter. The nation’s economy, measured by real gross domestic product (GDP), rose by 3.1 percent over the April to June period. This rate of …

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Implications Of FOMC Normalization Process For Mortgage Rates

By Michael Neal In its statement, the Federal Open Markets Committee (FOMC) left its key interest rate unchanged at a range of 1.0 to 1.25 percent. As signaled in its last statement, the FOMC, beginning in October, will initiate the balance sheet normalization program. The contents of this program are described in the June 2017 Addendum to the Committee’s Policy …

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Inflation Accelerated in August

By Michael Neal The Bureau of Labor Statistics (BLS) reported that its seasonally adjusted Consumer Price Index – Urban Consumer (CPI) rose by 0.4 percent over the month of August, a significant acceleration from the 0.1 percent month-over-month increase in July. Prices of energy commodities, gasoline in particular, rose by 6.1 percent over the month after treading flat in July. …

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