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Mar 08

Mortgage Rates Expected To Rise On A Strong Job Report

March 8, 2012 By Leave a Comment
Employment Report

With home affordability at an all-time high, buoyed by the lowest mortgage rates ever, it's been a terrific time to buy or refinance a home using a mortgage. The good times may not last, though, so today marks an ideal time to lock a mortgage rate. Friday brings risk. Here's why. Since 2010, weak economic conditions have been a primary catalyst for low mortgage rates in District of Columbia. Over the last 12 months, though, manufacturing output has been rising, consumer spending has been … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , ,
Jan 11

Home Affordability Set To Worsen On Thursday’s Retail Sales Data

January 11, 2012 By 1 Comment
Retail Sales Worsen Housing Affordability

Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers in Washington DC, it may also lead to higher mortgage rates later this week. Thursday morning, the Census Bureau will release its U.S. Retail Sales data for December. The report is expected to show an 18th consecutive monthly increase, with analysts projecting sales volume higher by 0.4 percent from November. This would be double the … [Read more...]

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Oct 13

Retail Sales Expected To Rise; Mortgage Rates Should Rise, Too

October 13, 2011 By Leave a Comment
retailsales

The American Consumer is alive and well, it seems. Friday morning, the Census Bureau will release its Retail Sales figures for September. The report is expected to show an increase in gross receipts for the 15th straight month with analysts predicting a 0.6 percent increase from August. The projected increase represents the largest jump in Retail Sales in six months and would likely lead mortgage rates higher for buyers in DC and   nationwide. The connection between Retail Sales and … [Read more...]

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Jul 15

Retail Sales Rise For 12th Straight Month In June

July 15, 2011 By Leave a Comment

The American Consumer will not be deterred. Despite worsening jobless figures and an increase in the Cost of Living, Retail Sales are climbing. In June, for the 12th straight month, retail receipts rose, excluding cars and auto parts. Analysts expected no change from May. Instead, receipts topped $321 billion -- an all-time record. For home buyers and would-be refinancers in DC , this is a bit of unwelcome news. Mortgage rates are rising in the wake of the Retail Sales data … [Read more...]

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Jul 07

Economy Expected To Have Added 80,000 Jobs In June

July 7, 2011 By Leave a Comment

Friday morning, at 8:30 AM ET, the Bureau of Labor Statistics releases its June Non-Farm Payrolls report. If you're currently shopping for a mortgage, or floating a mortgage rate, be prepared. Mortgage rates can change following the monthly report's release. Often, by a lot. More commonly called "the jobs report", Non-Farm Payrolls reports on the U.S. workforce by sector, summarizing its findings in terms of total workforce size, and as a national Unemployment Rate. Jobs are considered a … [Read more...]

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Jun 15

Mortgage Rates Surge On May Retail Sales Figures

June 15, 2011 By Leave a Comment

The jobs market is recovering slower than expected, and so is housing. But neither condition has slowed U.S. consumers. According to the Census Bureau, Retail Sales rose for the 11th straight month in May. Excluding cars and auto parts, sales receipts climbed to $322 billion last month. It's an all-time high and another example of the U.S. economy's resiliency. Wall Street didn't expect such results. As a result, mortgage rates worsened Tuesday. By a lot. The connection between … [Read more...]

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