Mortgage Watch

WEEKLY MORTGAGE WATCH – JANUARY 8, 2017

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (JANUARY 8TH, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: The New Year began with some relief for mortgage shoppers, as mortgage rates slipped downward, even with positive economic news. A retraction, after a sharp increase, is not terribly uncommon, especially when the upward movement appears to have been based more on emotional elements than technical …

Mortgage Watch

WEEKLY MORTGAGE WATCH – JANUARY 1, 2017

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (JANUARY 1ST, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: 2016 ended with mortgage rates much higher than they began the year. While last week was a tame week for rates, the last two months have been brutal. Rates climbed at a rate not seen in many, many years. Optimism for a change in Washington appears to have …

mortgage watch

WEEKLY MORTGAGE WATCH – DECEMBER 26, 2016

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (DECEMBER 26TH, 2016) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: Mortgage rates finally calmed as we headed into the holiday weekend, and we are now poised to end 2016 with little chance of any significant decrease. The final estimate of 3rd quarter GDP was adjusted upward to 3.5%, both New and Existing Home sales bested estimates, …

Mortgage Watch

WEEKLY MORTGAGE WATCH – DECEMBER 18, 2016

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (DECEMBER 18TH, 2016) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: To no one’s surprise, the Federal Reserve lifted its target rate, during a week that highlighted a long-term economic pattern of inconsistent growth. Once again, Retail Sales failed to move, Industrial Production fell, and inflationary indicators continue to show very moderate pressure. However, rates continue to …

Mortgage Watch

WEEKLY MORTGAGE WATCH – DECEMBER 11, 2016

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (DECEMBER 11TH, 2016) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: Last week saw mortgage rates move upward slightly, but less drastically than in previous weeks. The most heavily influential economic data came with an increase in the ISM Services Index which posted an increase of 2.4 points, along with another solid increase in Consumer Sentiment. Other …

Mortgage Watch

WEEKLY MORTGAGE WATCH – DECEMBER 4, 2016

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (DECEMBER 4TH, 2016) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: Last week, mortgage rates continued to move upward, but the increase was less than in recent weeks. Economic data continues to point to a slowly strengthening economy. GDP, Consumer Confidence, and the ISM Manufacturing Index all bested expectations. Job creation proceeded as expected, with the unemployment …

Mortgage Watch

WEEKLY MORTGAGE WATCH – NOVEMBER 27, 2016

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BALLESTEROS GROUP’S WEEKLY MORTGAGE WATCH (NOVEMBER 27TH, 2016) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES: Last week, mortgage rates continued to move upward, but at a slower pace than in the previous week. Existing Home Sales climbed another 2.0%, almost reaching a 10-year high, but sales very likely remain constrained by tight inventories.  The minutes of the latest Federal Reserve Open …