Friday, June 22, 2007

Housing and Mortgage News

I went to our Finance Manager Bob Wilson (Howard Hanna Mortgage Services) for some updates on the state of the housing economy. The first thing he sent me was information that can affect interest rates, expected out in June. We already know that they were spiking at the beginning of the month. Bob pointed out the Bond prices falling. That happened again a few days last week. The current rate is about 6.5%, although those pesky rates change depending on your own situation.

Here was his list of important June activity:

Housing Starts
Tuesday, June 19,
8:30 am, EST
Down 2.8% (Bureau of the Census Info)
Important. A measure of housing sector strength. Larger than expected decreases may lead to lower rates.

Leading Economic Indicators
Thursday, June 21, (PR Newswire Info)
10:00 am, EST
Up 0.2%
Important. An indication of future economic activity. Weakness may lead to lower rates.

Philadelphia Fed Survey
Thursday, June 21, ( reports on this)
12:00 pm, EST
Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates.

Mortgage rate info Peace Out - 3C

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