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For December, 2011

本周固定利率

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根据Freddie Mac每周利率跟踪调查数据显示,30年固定利率从上周的历史最低点 – 3.91%,回升到本周的3.95%。15年固定利率从上两周的历史最低点 – 3.21%,回升至本周的3.24%。5年浮动从上周的历史最低点 – 2.85%,回升为本周的2.88% 。

详细历史记录请参看:Rates History

Rise in home building suggests industry turnaround

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http://seattletimes.nwsource.com/html/businesstechnology/2017052751_apushousingstarts.html

WASHINGTON —

A surge in apartment construction gave home builders more work in November. And permits, a gauge of future construction, rose largely because of a jump in apartment permits.

Some analysts say the gains, though coming off extremely low levels, suggest the depressed housing industry may have reached a turning point.

Economists now say 2011 will be the first year since the Great Recession began in 2007 that home construction will have helped the economy grow. Before this year, the industry endured two of the worst years ever.

“Homebuilding is through the worst and is now steadily improving,” said Paul Diggle, a property economist at Capital Economics.

Construction of single-family homes rose 2.3 percent in November to an annual rate of 447,000. Apartment construction jumped 32 percent to a rate of 238,000 units.

Single-family homes account for about 70 percent of homebuilding.

Patrick Newport and Michelle Valverde, U.S. economists at IHS Global Insight, said the better-than-expected figures show that the housing industry is “finally getting off the mat.”

“It’ll keep getting better through next year,” said Jared Franz, an associate economist at T. Rowe Price.

In October, sales of new homes rose slightly, largely because builders cut their prices in the face of weak demand. Sales hit a six-month low in August. And this year is shaping up to be the worst since the government began keeping records a half-century ago.

Another reason sales have fallen is that previously occupied homes have become a better deal than new homes. The median price of a new home is about 30 percent higher than the median price for a re-sale. That’s nearly twice the markup typical in a healthy housing market.

The homebuilders’ trade group said this week that its survey of industry sentiment rose in December to 21, the highest level since May 2010. Still, any reading below 50 indicates negative sentiment about the housing market. The index hasn’t reached 50 since April 2006, the peak of the housing boom.

固定利率-本周历史低谷

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根据Freddie Mac每周利率跟踪调查数据显示,30年固定利率本周再次达到历史最低点 – 3.94%,上周30年固定是3.99%。15年固定利率本周再创历史新低 – 3.21%,上周15年固定利率为3.27%。5年浮动本周历史新低点 – 2.86%。

详细历史记录请参看:Rates History

Consumers borrow more in Oct. as economy improves.

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http://seattletimes.nwsource.com/html/businesstechnology/2016956381_apusconsumercredit.html

WASHINGTON —

Americans stepped up their borrowing in October to buy cars and attend college, and they also charged a little more to their credit cards. The second straight monthly gain in overall borrowing suggests consumers are growing more confident in the economy ahead of the crucial holiday buying season.

Total consumer borrowing rose by $7.6 billion, the Federal Reserve said Wednesday. September and October’s gains reversed a steep drop in borrowing from August, when it fell by the most in 16 months.

The economy grew at an annual rate of 2.5 percent in the July-September period, nearly three times the growth rate in the first six months of the year. Most economists expect similar growth in the final three months of the year.

Consumers are spending more freely and their confidence is on the rise again. In November, the unemployment rate fell to 8.6 percent, the lowest point in two and a half years. The economy has generated 100,000 or more jobs five months in a row – the first time that has happened since April 2006.

Without more jobs and higher pay, consumers may be forced to cut back on spending. That would slow growth. Consumer spending accounts for about 70 percent of economic activity.

Economists also fear Europe’s debt crisis will lead the continent into a recession, which would also hamper U.S. growth. And if Congress doesn’t extend the Social Security tax cut and emergency unemployment benefits by the end of this month, $165 billion in potential spending could be sucked out of the economy next year.

Households began borrowing less and saving more when the country fell into a recession and unemployment surged. While economists believe Americans will gradually increase borrowing in coming months, they do not expect consumers to load up on debt the way they did during the housing boom.

Americans felt wealthier then and were more willing to take on added debt because of the soaring value of their homes.

The Federal Reserve’s borrowing report covers auto loans, student loans and credit cards. It excludes mortgages, home equity loans and other loans tied to real estate.

本周固定利率

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本周的30年利率从上周的4.00%略微下调至3.99%,比年度最低点3.94%稍高了一点。

15年利率本周是3.27%,比年度最低的3.26%高出了0.01%。

详细历史数据请看:http://lowerloan.net/?page_id=26

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