Daily Archives: March 31, 2016

US home prices steady | Cross River Real Estate

Case Shiller Home Price Index in the United States is expected to be 182.37 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Case Shiller Home Price Index in the United States to stand at 179.06 in 12 months time. In the long-term, the United States S&P Case-Shiller Home Price Index is projected to trend around 159.65 Index Points in 2020, according to our econometric models.

United States S&P Case-Shiller Home Price Index

 

 

ForecastActualQ1/16Q2/16Q3/16Q4/162020Unit
Case Shiller Home Price Index183182182180179160Index Points
United States S&P Case-Shiller Home Price Index Forecasts are projected using an autoregressive integrated moving average (ARIMA) model calibrated using our analysts expectations. We model the past behaviour of United States S&P Case-Shiller Home Price Index using vast amounts of historical data and we adjust the coefficients of the econometric model by taking into account our analysts assessments and future expectations. The forecast for – United States S&P Case-Shiller Home Price Index – was last predicted on Tuesday, March 29, 2016.
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http://www.tradingeconomics.com/united-states/case-shiller-home-price-index/forecast

Mortgage rates at 3.71% | Chappaqua Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates mixed and largely unchanged from the previous week.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.71 percent with an average 0.5 point for the week ending March 31, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.70 percent.
  • 15-year FRM this week averaged 2.98 percent with an average 0.4 point, up from last week when it averaged 2.96 percent. A year ago at this time, the 15-year FRM averaged 2.98 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for theDefinitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

“Dovish comments by Federal Reserve Chair Janet Yellen on Tuesday triggered a rally in Treasury markets and drove the 10-year yield down 13 basis points from last week’s high. Yellen’s comments came too late to affect this week’s mortgage rate survey, and the 30-year mortgage rate remained unchanged at 3.71 percent. However, if the Fed’s cautious tone persists, mortgage rates may register the impact in subsequent weeks.”