Daily Archives: September 21, 2017

US Builder Confidence Falls in September | Pound Ridge Real Estate

The NAHB Housing Market Index in the United States dropped to 64 in September 2017 from a downwardly revised 67 in the previous month. The reading came in way below market expectations of 67, as recent hurricanes have raised concerns about the availability of labor and the cost of building materials. All three HMI components posted losses in September but remain at healthy levels: current sales conditions fell 4 points to 70, sales expectations in the next six months dropped 4 points to 74 and buyer traffic slipped 1 point to 47. Nahb Housing Market Index in the United States averaged 49.52 from 1985 until 2017, reaching an all time high of 78 in December of 1998 and a record low of 8 in January of 2009.

United States Nahb Housing Market Index

 

Calendar GMT Actual Previous Consensus TEForecast
2017-07-18 02:00 PM NAHB Housing Market Index 64 66 67 66
2017-08-15 02:00 PM NAHB Housing Market Index 68 64 65 65
2017-09-18 02:00 PM NAHB Housing Market Index 64 67 67 66
2017-10-17 02:00 PM NAHB Housing Market Index 64 64.04
2017-11-16 03:00 PM NAHB Housing Market Index 64.23
2017-12-18 03:00 PM NAHB Housing Market Index  

Mortgage rates average 3.83% | Katonah Real Estate

Freddie Mac (OTCQBFMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the average 30-year fixed mortgage rate increasing for the first time in seven weeks.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.83 percent with an average 0.5 point for the week ending September 21, 2017, up from last week when it averaged 3.78 percent. A year ago at this time, the 30-year FRM averaged 3.48 percent.
  • 15-year FRM this week averaged 3.13 percent with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago at this time, the 15-year FRM averaged 2.76 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.4 point, up from last week when it averaged 3.13 percent. A year ago at this time, the 5-year ARM averaged 2.80 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 the Definitions. Borrowers may still pay closing costs which are not included in the survey.

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

“The 10-year Treasury yield continued its upward trend, rising 7 basis points this week. As we expected, the 30-year mortgage rate followed suit, increasing 5 basis points to 3.83 percent. This week’s uptick in the 30-year mortgage rate ends a nearly two-month streak of declines.”