juliewoodw@coldwellbanker.com
    361-563-7788

Port Aransas Texas Real EstatePort Aransas Texas Real Estate

  • Home
  • Search
    • Advanced Search
    • Map Search
    • Featured Homes
    • Trending Searches
    • Search Condos
    • Address Search
    • Search by MLS ID #
  • Port Aransas
    • About Port Aransas
    • Port Aransas Condos
    • Port Aransas Homes
    • Port Aransas Lots
  • N Padre Island
    • About North Padre Island
    • North Padre Island Homes
    • North Padre Island Condos
    • North Padre Island Lots
  • Buy
    • Mortgage Calculator
    • Getting Ready to Buy
    • Moving Checklist
  • Sell
    • What’s Your Home Worth
    • Selling Your Home
    • Local Market Reports
    • Sell Your Home Faster
  • Concierge
    • About Julie
    • Blog
    • Testimonials
    • Port Aransas Links
    • Real Estate Services
    • Restaurants
    • Schools
  • Contact

What’s Ahead For Mortgage Rates This Week — June 3, 2013

What’s Ahead For Mortgage Rates This Week – June 3, 2013Last week’s financial news was relatively limited due to the Memorial Day holiday and no economic reports being released on Wednesday.

The biggest news in terms of housing and mortgages was the S&P/Case-Shiller Housing Market Indices (HMI) released on Tuesday.

The March HMI data for national housing markets reflected a sharp increase in year-over-year home prices from 9.30 percent in February to 10.90 percent in March.

Twelve cities included in the Case-Shiller 20-city index reported double-digit year-over-year percentage gains for March home prices. While this data strongly supports recovering home prices, analysts cite the need for more jobs, which would enable more consumers to buy homes.

Thursday’s weekly Jobless Claims Report from the Labor Department highlighted ongoing problems with lagging employment as new jobless claims jumped to 354,000. The four-week moving average for new jobless claims increased by 6.75 percent to 347,250 new jobless claims.

Bullish Stock Market Affects Mortgage Interest Rates

Mortgage rates jumped in connection rising stock prices; Freddie Mac reported that the average rate for a 30-year fixed rate mortgage increased to 3.81 percent plus 0.80 percent in discount points.  The average rate for a 15-year fixed rate mortgage increased to 2.98 percent plus 0.70 percent in discount points.

Rising mortgage rates suggest that home buyers may benefit from considering hybrid adjustable rate mortgages; the average rate for a 5/1 hybrid ARM was 2.66 percent with 0.50 percent in discount points.

The Chicago Purchasing Managers Index (Chicago PMI) measures how manufacturing and related businesses perform on a monthly basis.  May’s reading increased to 58.70 and surpassed expectations of a 49.90 reading as well as April’s reading of 49.00. Readings above 50 are considered positive.

Consumer Sentiment rose in May to a reading of 84.50, which exceeded both the expected reading of 83.80 and April’s reading of 83.70. As consumers gain confidence in the economy, they are more likely to buy homes.

Next Week’s News

Construction spending for April is due Monday with a consensus of +1.00 percent as compared to -1.70 percent in March. Rising construction spending could indicate an increase in residential construction, which has been facing obstacles including increasing labor and material costs and a shortage of available land for residential building.

Thursday’s news includes the weekly Jobless Claims report and Freddie Mac’s weekly report of average mortgage rates.

Friday brings the monthly Jobs Report, which consists of the Department of Labor’s Non-farm Payrolls report and the monthly unemployment rate. These reports are significant for gauging national and regional labor markets and for anticipating the Fed’s decision regarding its current quantitative easing policy.

If the Fed ceases or reduces its purchase of Treasury securities and mortgage-backed securities (MBS), mortgage rates are likely to rise.

Posted in: Housing Analysis Tagged: Mortgage Rates,Housing Analysis,Financial Reports

Nearby Hot Properties

109 Frontside Dr $995,000

109 Frontside Dr Port Aransas, Texas

4 Beds 4.5 Baths 3,509 Sq Ft Acres

6317 Hwy. 361 3218 $239,000

6317 Hwy. 361 3218 Port Aransas, Texas

2 Beds 2 Baths 1,454 Sq Ft Acres

6317 Hwy. 361 3102 $215,000

6317 Hwy. 361 3102 Port Aransas, Texas

2 Beds 2 Baths 1,360 Sq Ft Acres

6317 Hwy 361 6108 $185,000

6317 Hwy 361 6108 Port Aransas, Texas

2 Beds 2 Baths 1,425 Sq Ft Acres

5973 Hwy 361 - Park Road 53 109 109 $175,000

5973 Hwy 361 - Park Road 53 109 109 Port Aransas, Texas

3 Beds 2 Baths 1,250 Sq Ft Acres

7477 State Hwy 361 103 $169,900

7477 State Hwy 361 103 Corpus Christi, Texas

1 Beds 1 Baths 873 Sq Ft Acres

5973 5973 Hwy. 361, #126 126 $125,000

5973 5973 Hwy. 361, #126 126 Port Aransas, Texas

3 Beds 2 Baths 1,250 Sq Ft Acres

129 Beach View Dr $96,500

129 Beach View Dr Corpus Christi, Texas

Beds 0 Baths Sq Ft Acres

Leave a Reply Cancel reply

You must be logged in to post a comment.

Post navigation

« 5 Super Spring Decorating Ideas To Spruce Up Your Home
6 Ceiling Solutions To Update Your Home »

Quick Search

Advanced Search Map Search

Talk to Julie Now!

Have a question? Give me a call at 361-563-7788, or you can click my photo for more options to call or email and I will contact you right away.

Follow Me

What’s Trending

  • Port Royal Condos
  • Mayan Princess Condos
  • Sandpiper Condos
  • La Mirage Condos
  • Sandcastle Condos
  • Island Moorings Condos
  • Aransas Princess Condos
  • Coral Cay Condos
  • Island Retreat Condos
  • Clines Landing Condos

Contact Julie

Port Aransas Texas Real Estate
Julie Woodward, Broker/Associate

Address: 1900 State Highway 361
Port Aransas, TX 78373-4894
Direct: (361) 563-7788 (Mobile)
Phone: (361) 749-6000 (Office)
By Fax: (361) 749-5337 (Fax)
By e-mail: [email protected]

Quick Search Links

  • Port Aransas
  • Port Aransas Homes
  • Port Aransas Condos for Sale
  • Port Aransas Lots
  • North Padre Island
  • North Padre Island Homes
  • North Padre Island Condos
  • North Padre Island Lots

Hot Port Aransas Real Estate

This charming home was recently featured in the Caller Times home section! Spacious and inviting 4 bed, 4.5 bath home in Island Park Estates, a beachfront community with a pool and beach cart accessible dune crossover. "Are We There Yet" is a completely renovated beach house beautifully furnished with a coastal flair. Large open kitchen, dining, living and wet bar with views out every window. Huge covered deck to enjoy the views plus a covered porch for alfresco dining, grilling and relaxing. Third floor master has a private deck with spectacular Gulf views and remodeled bath with ceramic shiplap planked walk in shower and quartz countertops. Luxury vinyl plank flooring throughout and new exterior Duxxbak decking system. Ground floor has 2 beds & baths with a second spacious living area ideal for kids and cart garage. Lots of natural light throughout the home with many outdoor options for views and relaxation. A popular rental it sleeps 18. Excellent investment opportunity! Wow! $995,000 Active

109 Frontside Dr Port Aransas, Texas

4 Beds 4.5 Baths 3,509 Sq Ft

Disclaimer - All Rights Reserved by Julie Woodward

© 2019 · Coldwell Banker, Island Escapes · Julie Woodward · (361) 563-7788 · IDX Login · Sitemap · IDX Sitemap
Texas Property Code requires REALTORS to provide this form to customers, potential customers and clients. Click link for form. | Consumer Protection Notice
Log in · Real Estate Websites by Real Estate Websites