All Blog Entries by Emily Ray-Porter

Mortgage rates have been highly sensitive to the economic data in recent weeks. Daily volatility has been high even from reports which usually produce a limited reaction. The balance of the data released this week was stronger than expected, which caused mortgage rates to end a little higher.

Following a much improved Employment report on May 3, mortgage rates have been in an upward trend for most of this month. The trend continued to start the week when the April Retail Sales report was stronger than expected. While the consensus was for a small decline, a slight increase was reported. Mortgage rates finally received some relief on Thursday, primarily due to the Jobless Claims report. Weekly Jobless Claims jumped to 360K, far above the consensus of…

With little news, mortgage rates barely moved for the first four days of this week. Friday's weaker than expected GDP data was favorable for mortgage rates, however, and caused rates to end the week a little lower.

GDP, which measures all the goods and services produced in the US, is the broadest measure of economic growth. First quarter GDP increased at a 2.5% rate, which was below the consensus forecast, but was up from 0.4% in the fourth quarter. Strength was seen in consumer spending and residential investment. Most economists expect that GDP growth will be a little slower for the rest of the year and will be around 2.0% for all of 2013. This pace is consistent with a slowly improving labor market and tame inflation.

From the start of the year until…

A wide range of economic news was favorable for mortgage rates this week. The Employment data was weaker than expected, Japan expanded its bond-buying program, and tensions with North Korea increased. As a result, mortgage rates ended the week significantly lower.

Friday's Employment report was disappointing in nearly every area. Against a consensus forecast of 190K, the economy added just 88K jobs in March. Average Hourly Earnings, a proxy for wage growth, was flat from last month. Digging deeper, the small bit of good news was that the data from the prior two months was revised higher by 61K jobs. This was far outweighed, however, by the bad news in the details of the Unemployment Rate. The Unemployment Rate unexpectedly dropped from 7.7% to 7.6%, but the…

It was a relatively quiet week. Mixed US economic data had little impact. Events in Europe were the main influence on mortgage rates. Investors were concerned that uncertainty in Europe could slow the pace of global economic growth. As a result, mortgage rates ended the week a little lower.

The bank problems in Cyprus raised broad questions about the relationship between the troubled countries and the stronger countries in the European Union (EU). Early in the week, Cyprus reached an agreement to receive an EU bailout package for its banks. The terms of the aid highlighted the growing reluctance of Germany and the other healthier countries to use taxpayer funds to provide aid to the weaker countries. Investors are concerned that this may slow the…

News of a Cyprus bank bailout proposal caused a flight to safety early in the week which helped mortgage rates. Investors then viewed the Fed statement released on Wednesday as negative for mortgage rates. The two factors roughly offset each other, and mortgage rates ended the week just slightly lower.

The banks in Cyprus, a member of the European Union, are in dire need of additional capital. Cyprus is a tax haven for foreigners and its banking sector is enormous compared to the size of its economy. The EU proposed to loan Cyprus some of the needed funds, if Cyprus raised the rest through a one-time tax on all bank deposits. The bank deposit tax was very unpopular, and government leaders in Cyprus voted against the bailout plan without providing an…

Unexpected strength in the labor market was seen this week. The good economic news lifted the Dow stock index to a record level, but it also pushed mortgage rates higher.

Mortgage rates climbed on the days leading up to Friday's Employment report and rose even higher after the figures were released. Against a consensus forecast of 170K, the economy added 236K jobs in February. The Unemployment Rate declined from 7.9% to 7.7%, the lowest level since December 2008. Average Hourly Earnings, a proxy for wage growth, increased modestly from last month. In short, today's data exceeded expectations nearly across the board.

The growth in the labor market is a major component of a broader improvement in the US economic outlook. Recent manufacturing, Durable Orders,…

The biggest influence on mortgage rates this week came from the Italian election, which reignited investor concerns about Europe and prompted a flight to safer assets. Fed Chief Bernanke continued to show strong support for the Fed's bond buying program, which was also positive for mortgage rates. As a result, mortgage rates ended the week lower.

Monday's election in Italy showed very close results between the top three candidates, and it will be very difficult to establish a coalition government when no party has a majority. A long period of negotiations will take place, and another election may be required. What is clear is that there is widespread opposition in Italy to the austerity measures supported by the European Union (EU). Investors are concerned…

Emily Ray-Porter of Dave Perry-Miller & Associates closed Museum Tower’s first residential transaction.  Emily is our Dallas Highrises.com representative and brings knowledge and expertise to homeowners selecting thier dream houses and specializes in Highrise Lifestyle and fininding the location and amenities to fit buyers home fantacies. 

Designed by world-renowned architect Scott Johnson, the dramatic one, two and three bedrooms at Museum Tower in Dallas also have access to amenities such as two resident owners lounges, a bocce ball court, 80-foot swimming pool, outdoor fire place, fire pit plus outdoor cooking and dining areas to live life to the fullest and entertain your most special guests.  There is even an on-site dog park and

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In a week packed with big economic news, investors feared that the trend toward higher mortgage rates seen this month would continue. The risk that the Fed might signal a scaling back of its MBS purchases concerned investors. In the end, though, a neutral Fed statement and an unexpected increase in the Unemployment Rate allowed mortgage rates to reverse early increases and end the week with little change.

Wednesday's Fed statement was very similar to the statement issued after its December meeting. Concerning its MBS purchase program, the intention stayed the same, meaning that the Fed will continue buying MBS until the Unemployment Rate drops to 6.5%, as long as inflation doesn't increase too much before then. The Fed is the largest buyer of MBS and its…

Positive economic data was the primary influence on mortgage rates this week. Unexpected strength in retail sales, housing starts, and jobless claims combined to push mortgage rates a little higher.

Stronger economic growth is great for the labor market and the stock market. Unfortunately, it also increases the risk that future inflation will move higher, so it is generally not good for mortgage rates. However, two factors helped contain the increase in mortgage rates this week. First, the inflation data released this week showed that inflation is not a problem right now. In addition, Fed purchases of mortgage-backed securities (MBS) provided sufficient demand to keep mortgage rates at low levels.

The Housing data released during the week continued to be

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