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Thursday, September 22, 2011

Misc: Low Mortgage Rates, Leading Indicators indicate weak growth, FHFA reports house prices increase in July

by Calculated Risk on 9/22/2011 10:21:00 AM

• From Freddie Mac: Fixed-Rate Mortgages Hold Steady, Remain Near Record Lows

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed-rate mortgages changing little amid sluggish economic, mixed housing data, and ongoing concerns over the European debt markets. The 30-year fixed remained unchanged at 4.09 percent, while the 15-year fixed dropped a single basis point to 3.29 percent, marking a new record low.
There will be new record low mortgage rates reported next week.

• From MarketWatch: August economic indicators signal weak growth
The economy should exhibit "continued weak growth" through the fall and winter, the Conference Board said Thursday as it reported that its index of leading economic indicators grew 0.3% in August, compared with a 0.1% gain expected by economists polled by MarketWatch. "There is growing risk that sustained weak confidence could put downward pressure on demand and business activity, causing the economy to potentially dip into recession," said Ken Goldstein, a Conference Board economist ...
• From the FHFA: FHFA House Price Index Up 0.8 Percent in July
U.S. house prices rose 0.8 percent on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.9 percent increase in June was revised to a 0.7 percent increase. For the 12 months ending in July, U.S. prices fell 3.3 percent.
This is the GSE only index. The FHFA “expanded-data” House Price Index (HPI) that covers all homes is only released Quarterly. There will be more house price data released soon - and Case-Shiller next Tuesday.