Ruth Mantell
Moneyish
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Past articles by Ruth:
After earning billions in profits, Fannie, Freddie reform further than ever
Despite years of hand wringing on Capitol Hill over the need to protect taxpayers by reforming the U.S. housing market, it may take a financial hit to mortgage giants Fannie Mae and Freddie Mac to spur decisive congressional action. → Read More
UMich sentiment falls to 93.1 in July, reports say
WASHINGTON (MarketWatch) -- Consumer sentiment fell to a final July reading of 93.1 from a final June level of 96.1, according to reports on the University of Michigan gauge released Friday. A preliminary July reading estimated sentiment at 93.3. Economists polled by MarketWatch had expected a final July figure of 94. Economists follow readings on confidence to look for clues about consumer… → Read More
30-year mortgage rate drops to 3.98%
WASHINGTON (MarketWatch) -- The average rate for a 30-year fixed-rate mortgage dropped to 3.98% in the week that ended July 30, falling to the lowest level in almost two months, from the prior week's reading of 4.04%, according to a Thursday report from federally controlled mortgage buyer Freddie Mac. "Monday's 8% decline in Chinese stock prices triggered similar - though smaller - sell-offs in… → Read More
Pending home sales fall 1.8% in June
WASHINGTON (MarketWatch) -- A gauge of pending home sales fell in June, pulling back from May's reading, which was the highest in more than nine years, a trade group said Wednesday. The index from the National Association of Realtors reached a seasonally adjusted 110.3 in June, down 1.8% from 112.3 in May, signaling that upcoming deals could slow. June is the first decrease in six months. "The… → Read More
D.R. Horton sees pickup in entry-level home sales
Entry-level homes accounted 10% of sales at the country’s largest home builder, compared with 3% a year ago, even as homeownership hit the lowest rate in almost five decades. → Read More
City-by-city look at house prices
Here’s a city-by-city look at home prices, after the S&P/Case-Shiller 20-city composite shows U.S. house prices rise 1.1% in May. → Read More
U.S. house prices rise 1.1% in May
WASHINGTON (MarketWatch) -- U.S. house prices rose 1.1% in May, supported by the spring sales market, with gains in all the cities tracked by the Case-Shiller 20-city composite index released Tuesday. After seasonal adjustment, prices declined 0.2%, the report said. Home prices in May were up 4.9% from a year earlier, slightly slower than April's annual growth of 5%. "Nationally,… → Read More
Here are the staff forecasts that the Fed accidentally leaked
In gleeful news for ardent Federal Reserve observers (and an embarrassment for officials), the central bank accidentally published internal staff forecasts for interest rates, unemployment and other key indicators. → Read More
New-home sales drop 6.8% in June to slowest pace in seven months
WASHINGTON (MarketWatch) -- Sales of new single-family homes in the U.S. fell 6.8% in June to an annual rate of 482,000, the slowest pace in seven months, with drops in three of four regions, the government reported Friday. Economists polled by MarketWatch had expected a sales rate of 550,000 in June, compared with an original estimate of 546,000 for May. On Friday the U.S. Commerce Department… → Read More
30-year-mortgage rate falls to 4.04%
WASHINGTON (MarketWatch) -- The average rate for a 30-year fixed-rate mortgage fell to 4.04% in the week that ended July 23 from the prior week's reading of 4.09%, which was the highest rate since October, according to a Thursday report from federally controlled mortgage buyer Freddie Mac. "U.S. Treasury yields dropped following announcements that many blue chip companies' earnings failed to… → Read More
Existing homes sell at fastest pace in more than eight years
Existing homes sold in June at the fastest pace in more than eight years, and the median price hit a record. → Read More
Existing-home sales rise 3.2% to 5.49 million rate in June, fastest since 2007
WASHINGTON (MarketWatch) -- Sales of existing homes rose 3.2% in June to a seasonally adjusted annual rate of 5.49 million, hitting the fastest pace since February 2007, the National Association of Realtors reported Wednesday. A limited inventory of homes available for sale supported prices, with June's median sales price of $236,400 setting a record high. Some buyers may be rushing to lock in… → Read More
Home-builder confidence stays at highest level in almost 10 years
WASHINGTON (MarketWatch) -- A gauge of confidence among home builders remained at 60 in July, the strongest reading since late 2005, according to National Association of Home Builders/Wells Fargo data released Thursday. July's reading matched the consensus forecast from MarketWatch-polled economists. "This month's reading is in line with recent data showing stronger sales in both the new and… → Read More
30-year mortgage rate rises to 4.09%
WASHINGTON (MarketWatch) -- The average rate for a 30-year fixed-rate mortgage climbed to 4.09% in the week that ended July 16, reaching the highest rate since October, from the prior week's reading of 4.04%, according to a Thursday report from federally controlled mortgage buyer Freddie Mac. "The crisis in Greece continues to generate volatility in U.S. Treasury yields," said Sean Becketti,… → Read More
Nation’s top 2 mortgage lenders see big jump in originations
The country’s No. 1 and 2 mortgage lenders are posting solid annual growth for new home loans, a fresh sign of a housing market that’s gaining steam. → Read More
Homes are less likely now than at any time since start of Great Recession to be in foreclosure
Homes are the least likely to be in the foreclosure process since the recession started, with a strengthening job environment helping families in many parts of the country better afford their monthly bills. → Read More
Why most U.S. housing markets are undervalued even as prices climb
U.S. homes are by in large undervalued, even as national price measures show a modest overvaluation due to skewing effects from a few large markets, according to new research from Goldman Sachs. → Read More
Maxine Waters: ‘We are a long way’ from Fannie, Freddie reform
It’s been almost seven years since mortgage-finance giants Fannie Mae and Freddie Mac were placed into conservatorship, and U.S. lawmakers have yet to pin down how to reinforce the housing market’s infrastructure, without disrupting sales or putting taxpayers at risk. → Read More
30-year mortgage rate declines to 4.04%
WASHINGTON -- The average rate for a 30-year fixed-rate mortgage declined to 4.04% in the week that ended July 9, pulling back from the prior week's reading of 4.08%, which was the highest rate since October, according to a Thursday report from federally controlled mortgage buyer Freddie Mac. "Yields on Treasury securities declined this week in response to investor concerns about events in… → Read More
Job openings rise to record high of 5.36 million in May
WASHINGTON (MarketWatch) -- Job openings at U.S. workplaces rose to a record high of 5.36 million in May (data go back to the end of 2000) from 5.33 million in April, the U.S. Department of Labor reported Tuesday. Compared with same period in the prior year, May's job openings rose 16%, as private-sector openings increased 16% to 4.85 million, and government positions rose to 511,000 from… → Read More