Falling Consumer Confidence Hurts Mortgage Rates

December 5, 2013 at 1:02 PM

Consumer confidence moved downward last week while mortgage rates moved slightly higher. Home prices are also rising. The S&P’s Case-Schiller home price index reported last week that home prices moved up 13.3 percent on an annual basis in September. Rising home prices are a positive sign for homeowners who are underwater, but a concern for potential home buyers.

This could be a volatile week for mortgage rates. On Friday, we get the November employment numbers which will likely set the tone for rates next week. The consensus is for an increase of 180,000 jobs in November with a decrease in the unemployment rate to 7.2 percent; down from 7.3 percent in October. After the recent economic improvements, another round of positive news in the labor market is likely to push rates upward. In addition, the markets are trying to predict what the Fed will do next at its upcoming December meeting in two weeks. Any upward movement in economic data may increase the chances the Fed will begin tapering after its December meeting.

This column takes a look at current mortgage rates, market trends and indexes.  Jon Lamkin is Vice President of Mortgage Lending for Guaranteed Rate, 322 Route 46 W Suite 170 • Parsippany, NJ • 07054.  He may be reached at 973.939.8661  /  jon.lamkin@guaranteedrate.com  /  www.guaranteedrate.com/jonlamkin

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

TAP Into Another Town's News:

Sign Up for E-News

SOMA

Maplewood Police Blotter - Two Daytime Home Burglaries Reported

December 7, 2016

November 30 - Burglary; Between 8 a.m. and 10 a.m. a home on Warren Rd. was forcibly entered.  Jewelry and electronics were reportedly removed from the home.

December 1 - Burglary Attempt; During the daytime hours, entry was attempted to a home on the 100 block of Parker Ave.

December 1 - Burglary; During the daytime hours a home on Melman Terr. was forcibly ...

South Orange Police Blotter - December 5

Burglary - Theft - A Grove Rd. resident reported that between 9 a.m. on Nov. 27 and 9 a.m. on Nov. 29 actor(s) unknown broke into her garage and stole a black, Cannondale "CAAD 12" bicycle. The Detective Bureau processed the scene and is currently investigating the incident.

Theft of auto - A Georgia resident reported that sometime between 11 p.m. on Friday, ...

Holiday Events at Maplewood's Dickens Village

December 9, 2016

MAPLEWOOD, NJ - The "little houses" are back in Ricalton Square in Maplewood Village, with a tree lighting and visit from Santa and Mrs. Claus on Dec. 3 (read about it here) and plenty more Dickens Village activities planned for Saturday, Dec. 10, and Saturday, Dec. 17, and a menorah lighting on Tuesday, Dec. 27. 

Breakfast with Santa is on December 10 at St.

Holiday Celebration this Sunday at the Springfield Avenue Gazebo in Maplewood

MAPLEWOOD, NJ - This Sunday, Dec. 11, is the 4th Annual Holiday Celebration at the Springfield Avenue Gazebo (1688 Springfield Ave.) from 3 p.m. to 4:30 p.m.

A program of the Maplewood Department of Recreation and Cultural Affairs and the Springfield Avenue Partnership, and sponsored by Meineke Car Care Center, the event will feature cookies, hot chocolate, photos with ...

South Orange Celebrates the Season with 'Hometown Holiday' on Dec. 10

SOUTH ORANGE, NJ - This Saturday, Dec. 10, is the return of the Hometown Holiday celebration in South Orange featuring Santa Claus, an Elf Parade, and the annual tree lighting. There will also be live music, merchant specials, and free two hour parking in South Orange.

Santa Claus will be at the South Orange firehouse for visits and pictures with kids from 1:30 p.m. to 4:30 p.m.

Upcoming Events

Carousel_image_1c53345ad8a71f3f8adc_95070b5be2ac01bee1af_20598139d27926cff56b_ab9ae7960f2454054a7f_small_cyrille-aimee-holiday

Sat, December 10, 7:00 PM

Reeves-Reed Arboretum, Summit

Holiday Concert at Reeves-Reed Arboretum

Arts & Entertainment

Sun, December 11, 11:00 AM

Ethical Culture Society of Essex County, Maplewood

Amy Blake: Educational Initiative Program on ...

Education

Mon, December 12, 1:00 PM

Millburn Free Public Library, Millburn

Holiday Cookie Swap at the Millburn Library

Education Food & Drink

Carousel_image_5094ec48d735cc739d3e_princeton

Tue, December 13, 6:00 PM

The Westin Princeton At Forrestal Village, Princeton

ACG NJ Announces Princeton Event December 13th, ...

Arts & Entertainment Business & Finance Food & Drink

Obituary: Murray H. Ross

November 27, 2016

Murray H. Ross

Born in Glen Cove, NY on Jan. 17, 1926
Departed on Nov. 21, 2016 and resided in Maplewood, NJ

Murray H. Ross, 90 of Maplewood formerly of Carlisle, PA died at Winchester Gardens on Mon, Nov 21, 2016. 

Murray was born in Glen Cove, Long Island. He lived most of his life in Cranford, NJ before moving to Carlisle, PA. He moved to Maplewood 2 ...

Search for Next Director of Special Services & Survey

November 28, 2016

The following was sent via email on Nov. 28 to the South Orange Maplewood School District Community 

Dear South Orange & Maplewood School Community,

Dr. Leroy Nunery of Atlantic Research Partners is the consultant selected to lead our search for the new Director of Special Education. The following timeline has been developed to lead us to a recommendation to the ...

How to Avoid Inspection Pitfalls

Buying or selling a home is not for the faint of heart. The older homes in this area are charming; but with age, comes issues. Getting an accepted offer is only step 1 in the process. Along the way the agreement can be derailed during attorney review, the appraisal, the mortgage process, and the inspection.

If you are planning to sell your home in the next few months, I recommend doing some ...

Court Date Set for Man Suspected of Killing Montclair College Student

December 9, 2016

NEWARK, NJ – Khalil Wheeler-Weaver, 20, of Orange, is set to appear in court on Tuesday, December 13, on charges that he allegedly killed New Jersey City University Sophomore Sarah Butler, 20, of Montclair.

Wheeler-Weaver will appear before the Hon. Ronald Wigler, PJ Cr. at the Essex County Superior Court, officials announced. 

Butler was ...

‘Christmas Magic’ at Union Residents’ Light Spectacular

December 10, 2016

UNION, NJ – It all starts in early October when Noemi Duran begins the tedious task of checking hundreds of strands of Christmas lights and replacing bulbs where necessary, sometimes staying up all night to do so. Then, in mid-November, she and husband Luis Manriquez begin to put up the lights, place the lawn decorations and inflatables, and set up Santa and Mrs. Claus, welcoming ...

TSA Administrator Peter Neffenger Talks Local Travel Security at Seton Hall University

December 1, 2016

SOUTH ORANGE, NJ - TSA Administrator Peter Neffenger discussed the future of Newark International Airport and local travel security as a guest lecturer at Seton Hall on Tuesday night.

Neffenger spoke about his career as head of the TSA, as well as the success of the administration’s Instagram account @TSA, which has over 500,000 followers. He cited rehabilitating the public ...

Rahway River Study to See Completion; Lance Gets Water Infrastructure Package Passed

December 9, 2016

WASHINGTON, D.C. --- Congressman Leonard Lance (NJ-07)  secured authorization of the Rahway River Basin Flood Risk Management Feasibility Study in the final water infrastructure package that passed the U.S. House on a 360 - 61 vote.  Lance’s Rahway River provision instructs the U.S. Army Corps of Engineers to finish the study.  The U.S. Senate is expected to pass the measure ...

Gadzooks! A Very Arthurian Pantomime at the Burgdorff Center in Maplewood

Suburban Legend Presents Gadzooks! A Very Arthurian Pantomime January 6-8 and 13-15, 2017 at the Burgdorff Center for the Performing Arts in Maplewood.

For the fifth straight year Suburban Legend brings you the perfect cure for the post-holiday blues with another uproarious play. Gadzooks! A Very Arthurian Pantomime opens at the Burgdorff Center for the Performing Arts on Friday, January 6 at ...

Second Suspect Arrested in Killing of Cabdriver in Orange

ORANGE, NJ - Acting Essex County Prosecutor Carolyn A. Murray and Orange Police Director Todd Warren have announced that authorities have arrested a second suspect in connection with the Nov. 30 killing of Jonas Larose in Orange. Larose, a cabdriver was fatally shot at approximately 11 p.m.

A sixteen year old juvenile was arrested on December 2, 2016 and charged with the murder of Larose.