Economy & Housing Update

Freddie Mac Weekly National Mortgage Market Survey
30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.5 point for the week ending December 11, 2014, up from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 4.42 percent

November's employment report shows significant improvements in jobs and wages. Good news could bump up the Fed's timeline for policy rate increases. 

Larger than expected wholesale inventories point to 4th quarter GDP growth. Like good jobs news, GDP s trength could push the Fed timeline forward.  

Such good economic news at home often results in immediate rate increases. However, Europe's struggling economy is helping keep rates in check.

Asking home prices increased more than expected in November. Year-over-year prices are higher, but the rate of increase continues to slow. 

Surveyed consumers show optimism for next year's real estate market. They expect things to get better for buyers, sellers and borrowers.

In more 2015 predictions, economists foresee millennials leading household formation, eschewing rising rents, and powering the home market. 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.