The Patch of Land Blog

Learn about all the latest happenings.

The Equilibrium Report: 10/20/14 to 10/24/14

OCT. 21: Existing Home Sales (Sept)

Sales of Previously-owned homes rose in September to their highest pace in 2014. Overall good news for average people looking to buy at low mortgage rates.



OCT. 22: CPI (Sept)

US consumer prices went up .1%. Please note that the CPI (Consumer Price Index) does not include volatile food or energy and is used to gauge inflation. The core CPI increased to a rate of 1.7% annualized and is still under the fed's target of 2%.



OCT. 23: Initial and continuing jobless claims, FHFA house price index (Aug)

Initial and continuing jobless claims: initial claims increased by 17,000 last week to a seasonally adjusted 283,000 for the week of OCT. 18. This weeks marks the first rise in the last 3 weeks. Continuing claims feel by 38,000 to 2.35 million ending on OCT. 11.

FHFA house price index (aug): Home prices rose by .50% which is more than economist had predicted. The average economist estimate was .30%. The FHFA index measures transactions for single-family properties financed with mortgages owned or securitized by Fannie Mae and Freddie Mac.



OCT. 24: New Home Sales (Sept)

New home sales were up .20% to a seasonally adjusted rate of 467,000 units. It's the highest level we've had since July 2008. August was revised down to 466K from 504K. Economist estimated 470K, so the number was shy of its goal.

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