The Federal Reserve released its October Federal Open Market Committee (FOMC) meeting minutes last week.
Mortgage markets worsened last week, taking mortgage rates higher. The Federal Open Market Committee meets this week.
According to the U.S. Census Bureau, on a seasonally-adjusted, annualized basis, Single-Family Housing Starts rose to 603,000 last month, an 11 percent increase from the month prior and the highest reading in more than 4 years.
Home purchasing power is up 6.6% since the start of the year.
One week after posting its lowest mortgage rate in 50 years, Freddie Mac reports that the 30-year fixed rate mortgage rose by an average of 7 basis points nationwide this week to 4.22 percent.