Mortgage rates

Bond market investors acted cautiously in the wake of next week's Federal Open Market Committee meeting and that likely resulted in mortgage rates moving lower this past week.

Palm Beach County, Fla., home prices retreated in June after jumping to a post-crash high in May.

Fewer consumers applied for mortgages last week even as interest rates declined by 3 to 4 basis points for all product types, according to the Mortgage Bankers Association.

Sales of new homes rose in June by less than forecast and purchases were revised lower in the three prior months, the latest sign of weakness for the housing sector.

Sales of previously owned homes declined in June, missing estimates in the latest sign of weakness for the housing market.

With housing supply constrained and mortgage rates on a downslope throughout the year, buyers jumped at purchasing a home when the opportunity arose in June, according to Redfin.

Two key economic forces are responsible for driving single-family housing forward, but their potential is limited, according to the National Association of Home Builders.

Through the first half of the year, there have has been 2,000 single-family homes sold countywide, a 6.45% decline from the comparable period last year when 2,138 homes were sold.

Forecasts for residential remodeling growth are looking dimmer, but this isn't necessarily a bad thing for the mortgage market.

The potential for home resales rose 1.1% month-to-month as mortgage rates fell, but buyers only became more entrenched as their purchase power increased, according to First American.