Freddie Mac Report Predicts Spring Home Sales Pick-Up
Freddie Mac Report Predicts Spring Home Sales Pick-Up
Freddie Mac Report Predicts Spring Home Sales Pick-Up
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April 14, 2011 (Chris Moore)
mortgage-freddiemac-image
Freddie Mac has released its Economic and Housing Outlook for April which anticipates a spring pick-up in home sales that the report attributes to encouraging employment numbers, continuing historically low mortgage rates and lower home prices, with the latter two contributing to the highest level in homebuyer affordability in 40 years.

Released by the Office of the Chief Economist, the report shows that current positive employment numbers might finally indicate that the labor market is starting to warm up. With four straight months of declining unemployment and over 1.3 million jobs gained from March of 2010 through March of 2011, the unemployment rate has finally fallen below the nine percent mark, currently resting at 8.8 percent.

Employment has been mixed as gains in service sector industries like mining and manufacturing has seen most of the employment spurt, while government employment, construction, and real estate remain weak.

Freddie Mac expects an accommodative monetary policy to continue to provide the housing market with low mortgage rates, though they predict rates will rise slightly through 2011. Refinancing activity is expected to decline due to rising interest rates.

Highlights of the report include:

– Unemployment declined for the fourth straight month to 8.8 percent, and net employment increased by 216,000 jobs.
– A projected 5 percent increase in 2011 home sales over 2010, on a calendar year basis.
– Despite weak and inconsistent monthly job gains for the real estate sector, real estate employment was up by 10,000 jobs since last November.
– Refinancing is likely to account for a much smaller share of loan applications later this year as borrowers who are “in-the-money” decrease and mortgage rates begin inching up.
– The share of adjustable-rate mortgages loans is projected to be 7 percent in 2011, compared to the 5 percent 2010 average in part because the level of fixed-rate mortgages rates are expected to rise relative to short-term interest rates.

Frank Nothaft, Freddie Mac, vice president and chief economist said, “”Expect to see a bit of spring in homes sales activity during the second quarter. Sales contract signings for existing homes were up in February, positioning the market for a bounce up going into the traditional homebuying season.”

You can view the whole report here.

Tags: Freddie Mac, Economic and Housing Outlook, homes sales, home affordability, low mortgage interest rates, declining unemployment, lower home prices, job gains

Source:
Freddie Mac

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Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
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15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
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See today's mortgage rates. Shop, compare and save.

April 14, 2011 (Chris Moore)
mortgage-freddiemac-image
Freddie Mac has released its Economic and Housing Outlook for April which anticipates a spring pick-up in home sales that the report attributes to encouraging employment numbers, continuing historically low mortgage rates and lower home prices, with the latter two contributing to the highest level in homebuyer affordability in 40 years.

Released by the Office of the Chief Economist, the report shows that current positive employment numbers might finally indicate that the labor market is starting to warm up. With four straight months of declining unemployment and over 1.3 million jobs gained from March of 2010 through March of 2011, the unemployment rate has finally fallen below the nine percent mark, currently resting at 8.8 percent.

Employment has been mixed as gains in service sector industries like mining and manufacturing has seen most of the employment spurt, while government employment, construction, and real estate remain weak.

Freddie Mac expects an accommodative monetary policy to continue to provide the housing market with low mortgage rates, though they predict rates will rise slightly through 2011. Refinancing activity is expected to decline due to rising interest rates.

Highlights of the report include:

– Unemployment declined for the fourth straight month to 8.8 percent, and net employment increased by 216,000 jobs.
– A projected 5 percent increase in 2011 home sales over 2010, on a calendar year basis.
– Despite weak and inconsistent monthly job gains for the real estate sector, real estate employment was up by 10,000 jobs since last November.
– Refinancing is likely to account for a much smaller share of loan applications later this year as borrowers who are “in-the-money” decrease and mortgage rates begin inching up.
– The share of adjustable-rate mortgages loans is projected to be 7 percent in 2011, compared to the 5 percent 2010 average in part because the level of fixed-rate mortgages rates are expected to rise relative to short-term interest rates.

Frank Nothaft, Freddie Mac, vice president and chief economist said, “”Expect to see a bit of spring in homes sales activity during the second quarter. Sales contract signings for existing homes were up in February, positioning the market for a bounce up going into the traditional homebuying season.”

You can view the whole report here.

Tags: Freddie Mac, Economic and Housing Outlook, homes sales, home affordability, low mortgage interest rates, declining unemployment, lower home prices, job gains

Source:
Freddie Mac

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
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Helpful Tools

April 14, 2011 (Chris Moore)
mortgage-freddiemac-image
Freddie Mac has released its Economic and Housing Outlook for April which anticipates a spring pick-up in home sales that the report attributes to encouraging employment numbers, continuing historically low mortgage rates and lower home prices, with the latter two contributing to the highest level in homebuyer affordability in 40 years.

Released by the Office of the Chief Economist, the report shows that current positive employment numbers might finally indicate that the labor market is starting to warm up. With four straight months of declining unemployment and over 1.3 million jobs gained from March of 2010 through March of 2011, the unemployment rate has finally fallen below the nine percent mark, currently resting at 8.8 percent.

Employment has been mixed as gains in service sector industries like mining and manufacturing has seen most of the employment spurt, while government employment, construction, and real estate remain weak.

Freddie Mac expects an accommodative monetary policy to continue to provide the housing market with low mortgage rates, though they predict rates will rise slightly through 2011. Refinancing activity is expected to decline due to rising interest rates.

Highlights of the report include:

– Unemployment declined for the fourth straight month to 8.8 percent, and net employment increased by 216,000 jobs.
– A projected 5 percent increase in 2011 home sales over 2010, on a calendar year basis.
– Despite weak and inconsistent monthly job gains for the real estate sector, real estate employment was up by 10,000 jobs since last November.
– Refinancing is likely to account for a much smaller share of loan applications later this year as borrowers who are “in-the-money” decrease and mortgage rates begin inching up.
– The share of adjustable-rate mortgages loans is projected to be 7 percent in 2011, compared to the 5 percent 2010 average in part because the level of fixed-rate mortgages rates are expected to rise relative to short-term interest rates.

Frank Nothaft, Freddie Mac, vice president and chief economist said, “”Expect to see a bit of spring in homes sales activity during the second quarter. Sales contract signings for existing homes were up in February, positioning the market for a bounce up going into the traditional homebuying season.”

You can view the whole report here.

Tags: Freddie Mac, Economic and Housing Outlook, homes sales, home affordability, low mortgage interest rates, declining unemployment, lower home prices, job gains

Source:
Freddie Mac

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.