NewsYouCanUseGraphic-1kHere is what was at the top of the headlines for the mortgage industry this past week.  

Existing-Home Sales Rise in October, First Year-Over-Year Increase since October 2013.Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.5 percent to a seasonally adjusted annual rate of 5.26 million in October from an upwardly-revised 5.18 million in September.

Fixed Mortgage Rates Fall For The Second Week in a Row.  Fixed mortgage rates eased again this week, according to the latest data released Thursday by Freddie Mac. The 30-year fixed-rate average dropped to 3.99 percent with an average 0.5 point, falling below 4 percent for the first time in three weeks. It was 4.01 percent a week ago and 4.22 percent a year ago.

Single-Family Building Permits for All Future Projects Reach Six-Year High.  Groundbreaking for single-family homes climbed in October and permits for all future projects reached a six-year high to signal construction will add to U.S. economic growth in early 2015.

U.S. Jobless Claims Fall; Continuing Claims Lowest Since 2000.  Initial claims for state unemployment benefits fell more than expected in the most recent week, while a reading on consumer prices came in unexpectedly flat in October. The Labor Department claims report showed the number of people still receiving benefits after an initial week of aid declined 73,000 to 2.33 million in the week ended Nov. 8, the lowest since December 2000.

 

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