Single-family housing starts climbed 4 percent last month to 470,000 units on a seasonally-adjusted, annualized basis. This is the highest number of Single-Family Housing Starts since April 2010 — the last month of last year’s home buyer tax credit.
According to Freddie Mac’s weekly mortgage rate survey, the average 30-year fixed rate mortgage rate fell to 3.89% nationwide. This week, the Eurozone will determine whether rates rise or fall.
Will your home gain value over the next 12 months? Nobody can know for sure, but should recent housing trends continue, there’s concrete cause for optimism.
The Federal Reserve has released the minutes from its most recent Federal Open Market Committee meeting. December’s Fed Minutes shows Fed members with a positive, cautious, take on the economy.
Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers, it may also lead to higher mortgage rates later this week.