Economic and Housing Research
Weekly Commentary
May 16
Mortgage rates followed U.S. Treasury bond yields higher this week on signs of stronger consumer spending. Advanced retail sales rose 0.1 percent in April, above the market forecast consensus of a 0.3 percent decline. Excluding such items as automobiles and gasoline, sales were up 0.5 percent for the second time in three months.
Households are also shoring up their balance sheets. Total household debt fell by about $110 billion in the first quarter. In addition, approximately 3.0 million homeowners were seriously delinquent (90 days or more delinquent or in foreclosure) on their first mortgages, down from a peak of about 5.1 million in the fourth quarter of 2009. >> Next Commentary: May 23
Freddie Mac House Price Index (FMHPISM)
Freddie Mac publishes its monthly house price index values each quarter for the nation as a whole, for each of the 50 states and the District of Columbia, and 367 metropolitan statistical areas (MSAs).
U.S. National House Prices Up 7 Percent
Strongest First Quarter Growth Since 2005
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