Mortgage rates are performing surprisingly well after Friday’s release of the October 2012 Non-Farm Payrolls report.
According to the U.S. Census Bureau, the number of new homes sold jumped to 389,000 units in September 2012 on a seasonally-adjusted, annualized basis.
The FOMC adjourns from a 2-day meeting today. Mortgage rates are expected to change — perhaps by a lot.
This week, for the first time since mid-June, the 30-year fixed rate mortgage rate climbed on a week-over-week basis, moving 6 basis points to 3.55%, on average.
New construction housing is in a post-recession rally.