Triangle Business Today

New home sales drop, mortgage rates climb

Posted January 26, 2013

A mixture of housing and economic data as we end this snowy and ice covered week here in the Triangle.

The weekly jobless claims number from Thursday came in at 330,000 for the week ending January 19th. The 5,000 claim decrease puts the weekly number at a five year low. The question here is are we experiencing an improving labor market or is this drop attributed to seasonal data influences? We will have a better feel for the labor markets in the weeks to come.

New Home Sales dropped by 7.3% in December giving the markets reason to pause as they digest the less than stellar housing data. While the percentage drop was greater than most economists were expecting for December, many feel as though this is only a temporary departure from what has been a consistent growth trajectory in housing sales.

Mortgage Rates had significant upward movement on Friday thanks to some better than expected comments and news out of Europe. The 10 Year Treasury Yield moved from 1.81 on Thursday to a close of 1.95 on Friday afternoon. This was the most significant one-day movement for mortgage rates that we’ve seen in quite some time. Next week’s FOMC meeting could provide some additional volatility for rates depending on the rhetoric we receive.

2 Comments

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  • katebodded Jan 29, 4:17 p.m.

    Great advice. I actually googled them. Lexington Law has helped clear more more than 2,500,000 wrong credit results from people's reports. They have been in business for over 20 years. One of the most reputable ones out there.  Lexington's website has a lot of information to help folks eliminate debt and even lower their mortgage rate.

  • katebodded Jan 29, 2:15 p.m.

    Great time to buy right now. But make sure you check your credit reports and clean up anything that is negative on there. Best to use an established and reputable credit repair company. There are many out there but I think Lexington Law probably the best. 

About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.